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Best Practices in Transaction Monitoring Scenario Threshold Tuning and Model Verification

An approach to performing scenario parameter threshold tuning and model verification for BSA/AML transaction monitoring systems

About this paper

The regulatory guidance on model risk management requires that banks adopt a process of periodic model verification, threshold tuning, and validation. While the exact approach taken to perform these activities has been widely left to the bank’s discretion, using a robust approach that has been adopted by peer banks is a reasonable approach to take. The approach described above should provide bank compliance officers with insights to the approach that SAS has adopted to use when performing scenario verification and threshold tuning projects and help guide their decision on selecting an approach for their organization to adopt.

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