In today’s super-competitive environment, getting the word out about your products and services is crucial. Do your ads meet regulatory expectations, include all advertising terms, and clearly explain what your products and services are to your customers and potential customers?

Get peace of mind with Young & Associates’ Advertising Review service.

All AML models must follow the guidance of OCC Bulletin 2011-12 and the subsequent Interagency Statement on Model Risk Management for Bank Systems Supporting Bank Secrecy Act/Anti-Money Laundering Compliance (4/9/21), which outline the expectations for model risk management, especially the need for independent review and model validations.

Let Young & Associates assist you with our AML Validation and Review.

Customized for your institution and as required by the regulators, our AML validation and review addresses:

• Conceptual Soundness. We focus on the design, methodology, and construction of the model. This includes analysis and review of the model documentation, assumptions and limitations, data quality and completeness, and implementation
• Ongoing Monitoring. We make sure that the model is working efficiently and as intended to meet your institution’s business objectives and ensure that it is tailored to the institution’s Risk Assessment (AML Program Management). This includes model tuning and calibration, which is driven by several Key Performance Indicators (KPIs).
• Outcomes Analysis. We examine the model’s output, including alerts generated from transaction monitoring, along with the supporting information used for investigation. Above-the-line and below-the-line testing is conducted to ensure that alerts are accurate and complete. Monitoring rules and parameters are also assessed.

Note: Young & Associates collaborates with many of the AML software providers throughout the validation and review to make the process as seamless to your institution as possible.

The Bank Secrecy Act (BSA) requires that any financial institution establish an effective BSA/AML compliance program to detect and report any suspicious activity in an accurate and timely manner. We provide an independent review of your BSA/AML/OFAC program that adheres to the requirements set by the Office of Foreign Assets Control (OFAC). This holistic risk assessment examines your financial institution’s:

We have extensive experience and experts to assist financial institutions with BSA/AML/OFAC reviews. Whether your bank or credit union is subject to regulatory actions or simply needs annual training for personnel, we can provide the service you need.

Gain direct assistance from one of our experienced compliance consultants for the completion of your Compliance Risk Assessment. Through facilitation, we offer guidance on the purpose of the risk assessment, who should be involved, clarification of key aspects of each regulation and documentation to demonstrate the consideration of required elements as the risk assessment is completed. The completed risk assessment will support scheduling compliance monitoring or reviews, independent compliance audits and compliance-related training on a risk-focused basis.

Fair lending laws ensure the fair and equitable treatment of borrowers. Financial institutions face intense scrutiny to ensure that their lending policies adhere to fair lending regulations. Our fair lending reviews are modeled after the fair lending examination procedures issued by the federal regulatory agencies.

These reviews are fully customizable to the needs of your financial institution based on regulatory requirements, asset size and the complexity of your organization. The process typically includes a loan policy review, a comparison of loan officer questionnaires regarding their underwriting practices, a comparative file analysis, an adverse action review or a consumer loan pricing review.

Through these reviews, we can help your financial institution manage all fair lending risks. As part of this risk assessment, our compliance professionals will also review approval policies, advertising policies and procedures, along with training records.