The AdvisX blog.

Phantom AML Alerts: Dealing with the Stuff of BSA Officers’ Nightmares

For many Bank Secrecy Act officers and their boards of directors, the thing that haunts their dreams most is their examiners finding some suspicious transactions that should have been investigated, but weren't. If such transactions are found, what typically follows are two questions along the lines of: Why weren't these transactions identified by the institution [...]

By |2020-02-11T18:18:39+00:00February 11th, 2020|Bank Secrecy Act/Anti-Money Laundering, Blog, Compliance Tips|Comments Off on Phantom AML Alerts: Dealing with the Stuff of BSA Officers’ Nightmares

Next Level Risk-Based Pricing is Coming: Beyond Decisioning and Pricing is Outcome Analysis

When economic times are good and funds are relatively easy to lend without meaningful short-term risk, most financial institutions find themselves in strong positions from a credit risk and earnings perspective. Yet, the tough lessons of lending and risk over the past 30 years have taught us many times over that economic cycles repeat. It’s [...]

By |2019-05-16T21:50:21+00:00November 7th, 2018|Blog, Compliance Tips|Comments Off on Next Level Risk-Based Pricing is Coming: Beyond Decisioning and Pricing is Outcome Analysis

Figuring Out What to Say and How to Say It to the Board of Directors is Like Balancing on a Bicycle

"Life is like riding a bicycle. To keep your balance, you must keep moving." -Albert Einstein Successfully riding a bike to get where you want to go requires patience, knowledge, and experience. Determining what to say to your board of directors is like learning how to balance on a bicycle. The “what to say” is [...]

By |2019-05-16T22:07:24+00:00February 5th, 2018|Blog, Compliance Tips|Comments Off on Figuring Out What to Say and How to Say It to the Board of Directors is Like Balancing on a Bicycle

Three BSA/AML Errors to Avoid

Bank Secrecy Act and Anti-money Laundering (BSA/AML) enforcement is shaping up to be a hot compliance topic this year. We've heard from the NCUA that one of its supervisory priorities for 2018 will be BSA compliance. There are also some big changes coming in just a few months with FinCEN's new customer due diligence and [...]

By |2019-05-16T22:13:37+00:00January 29th, 2018|Bank Secrecy Act/Anti-Money Laundering, Blog|Comments Off on Three BSA/AML Errors to Avoid

The Top 5 Posts of 2017

2017 is now gone, but it's always worth a look back to see where you’ve been. Here’s a look at the top 5 most popular AdvisX blog posts of 2017. 1. The Elephant in the Room: Fair Lending Regression Analysis We’ve all heard the expression, “how do you eat an elephant? One bite at a time.” [...]

By |2019-05-16T22:15:00+00:00January 2nd, 2018|Blog|Comments Off on The Top 5 Posts of 2017

Front-to-Back AML Validation: How to Envision What You May Be Missing

Originally published on CUInsight.com For those of us who experienced a partial loss of vision at a relatively young age, we likely remember the day that we learned we needed glasses. The process typically began with an elementary school teacher who noticed our permanent squint at the chalkboard. Before we knew it, we were sent [...]

By |2017-12-04T09:00:55+00:00December 4th, 2017|Blog|Comments Off on Front-to-Back AML Validation: How to Envision What You May Be Missing

AML System Assembly: Don't Ditch the Instruction Booklet

Whether it was a model airplane, some Legos, or a Swedish bookcase, odds are you've purchased something that requires some at-home assembly. What all these things have in common is the instruction booklet. Not all of these instruction booklets are created equal, however. Some are clear, precise and easy to follow, while others are so [...]

By |2017-11-13T09:00:32+00:00November 13th, 2017|Blog|Comments Off on AML System Assembly: Don't Ditch the Instruction Booklet

BSA/AML Systems Survivor

Imagine two scenarios. In the first, you fly to a beautiful, remote island for a carefree week at an exclusive and all-inclusive resort. You spend the week soaking up sun on the beach, enjoying fine dining, and snorkeling in the crystal clear water. Now for scenario two. Same beautiful island, but this time, there's no [...]

By |2017-09-18T09:00:50+00:00September 18th, 2017|Bank Secrecy Act/Anti-Money Laundering, Blog|Comments Off on BSA/AML Systems Survivor

How to Optimize Your AML System (Without Hiring Sherlock)

One of the defining characteristics of Sherlock Holmes (besides the deerstalker hat and overcoat) is his almost superhuman powers of deduction. In the first Sherlock novel, A Study in Scarlet, Holmes says, "From a drop of water, a logician could infer the possibility of an Atlantic or a Niagara without having seen or heard of one or the other." In every [...]

By |2017-09-11T09:00:10+00:00September 11th, 2017|Bank Secrecy Act/Anti-Money Laundering, Blog|Comments Off on How to Optimize Your AML System (Without Hiring Sherlock)

New York's 504: BSA/AML Requirements You May Want to Start Wearing

If you're a fashion fanatic and you want to get a jump on what will be hot next season, you'd probably want to look to the current fashion trends in New York. After all, New York, New York is known as one of the fashion capitals of the world. Now, if you're in charge of [...]

By |2017-08-14T09:00:15+00:00August 14th, 2017|Bank Secrecy Act/Anti-Money Laundering, Blog|Comments Off on New York's 504: BSA/AML Requirements You May Want to Start Wearing