Manually evaluating transaction monitoring models is slow and error-prone, with mistakes resulting in potentially large fines. To avoid this, banks are increasingly turning to automated machine ...
Retail Banker International on MSNOpinion
Shared context is king: Enhancing risk decisions with cross‑functional insights
Nauman Abuzar, VP of Risk & Compliance at SEON explores how shared context can strengthen fraud and AML decision-making ...
"A successful whistleblower program communicates clear rules to whistleblowers to provide financial incentives for coming forward, and provisions to protect the confidentiality of their whistleblowing ...
Banks and their service providers have relied heavily on the prior guidance, originally a joint OCC-Fed issuance from 2011 that was later adopted by the FDIC in 2017, in developing and deploying ...
They contrast the prior OCC guidance (109 pages) with the new 12-page document, saying it describes model risk governance abstractly but offers little direction on what banks should do, leaving ...
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