1Effective AML Model Risk Management for Financial Institutions.pdfVIP

Effective AML Model Risk Management for Financial Institutions: The Six Critical Components A White Paper by John A. Epperson, Arjun Kalra, and Brookton N. Behm August 2012 Audit | Tax | Advisory | Risk | Performance As more banks and other financial institutions adapt their AML programs to meet more stringent regulatory guidelines, a new industry standard for model risk management is developing. Outlined here are the critical components of an effective AML model risk management program1 that complies with the more stringent requirements. 3 Effective AML Model Risk Managemen