Services
Spotlight Services
AML System Tuning
Software tuning and optimization align your transaction monitoring system with your institution’s evolving needs, ensuring it accurately reflects changes in customer profiles and risk assessments. ARC Risk and Compliance specializes in fine-tuning your software to enhance accuracy, efficiency, and compliance, preventing issues like inaccurate alerts and mismatched case volumes.
read moreAML Risk Assessment
The FFIEC manual advises financial institutions to reassess their BSA/AML risks every 12 to 18 months, and while this can be done internally, an independent review enhances compliance commitment and provides valuable insights. ARC Risk and Compliance offers independent expertise with a scientific, quantitative methodology that effectively evaluates risk factors and mitigation strategies, ensuring your assessments remain current, defensible, and aligned with regulatory expectations.
read moreLook-Back Services
We specialize in comprehensive look-back reviews that identify previously undetected suspicious activity, ensuring your institution meets regulatory expectations and safeguards against financial crime. Our experienced team of data scientists and AML compliance experts employs proven methodologies to deliver thorough, efficient, and cost-effective reviews, enhancing your compliance program while saving valuable time and resources.
read moreAML Staff Augmentation
Our Staff Augmentation Service offers comprehensive support by providing highly qualified personnel to assist client staff on-site or off-site, ensuring project demands are met effectively. With geo-flexibility and customizable solutions, we minimize overhead challenges while aligning our resources with our clients’ specific needs.
read moreAML Model Validation
Our model validation services offer an independent and objective assessment conducted by seasoned experts with specialized expertise in evaluating AML models. We provide a comprehensive review of all aspects of your model, ensuring accuracy and compliance, so your institution can confidently navigate regulatory requirements and mitigate financial crime risks.
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Validation and Review Services
AML MODEL VALIDATION
AML Model Validation for BSA, OFAC, CRR/MRR, 314(a), and Fraud services provide independent assessment and validation of models used for Anti–Money Laundering and fraud detection. This includes reviewing model design, assumptions, data quality, performance, and regulatory compliance; testing accuracy and effectiveness of alerts; identifying weaknesses or gaps; and providing recommendations to enhance model reliability, reduce false positives and false negatives, and ensure adherence to BSA, OFAC, CRR/MRR 314(a), and fraud risk-management requirements. The outcome is a clear, defensible view of model risk that stands up to regulatory scrutiny and supports informed decision-making.
AML GAP ANALYSIS
Our AML Gap Analysis offers a thorough evaluation of your institution’s BSA/AML framework, ensuring compliance with regulatory expectations as outlined in the latest FFIEC BSA/AML Examination Manual. By reviewing your AML Risk Assessment and understanding your customer base, geographic reach, and product offerings, we identify gaps and mitigate risks across all elements of your compliance program for sustainable regulatory adherence.
AML Procedures: Review and Updates
Our AML Gap Analysis offers a thorough evaluation of your institution’s BSA/AML framework, ensuring compliance with regulatory expectations as outlined in the latest FFIEC BSA/AML Examination Manual. By reviewing your AML Risk Assessment and understanding your customer base, geographic reach, and product offerings, we identify gaps and mitigate risks across all elements of your compliance program for sustainable regulatory adherence.
AML System Tuning & Optimization
Software tuning and optimization ensures your transaction monitoring system is aligned with your institution’s evolving needs. Adjustments may be required to balance analyst workload and reflect changes in customer profiles, products, services, or geographic reach. However, if configured incorrectly, the system can generate inaccurate alerts or case volumes that do not align with your risk assessment and program requirements. ARC Risk and Compliance helps fine-tune your software to improve accuracy, efficiency, and compliance.
NYS DFS 504 PRE-CERTIFICATION SERVICE
All state chartered or licensed financial institutions that are regulated by the Department of Financial Services (DFS) are mandated to certify that their anti-money laundering program meets the requirements for their transaction monitoring, sanctions filtering, training, and model governance. While this formalized what many institutions have been doing, this increased the pressure to ensure it was being done so thoroughly. As an additional checkpoint for compliance officers, these institutions have to certify with DFS that these requirements have been met, and they must do so annually.
AML Independent Review (AML Audit)
This service provides an objective evaluation of an organization’s Anti–Money Laundering program to ensure operational effectiveness, regulatory compliance, and risk mitigation. This includes reviewing policies, procedures, controls, transaction monitoring, KYC/CDD practices, and governance frameworks; identifying gaps and weaknesses; and providing clear, actionable recommendations to strengthen the AML framework and align the program with regulatory expectations.
Data Validation
ARC’s Data Validation service ensures the accuracy, completeness, and integrity of data used in Anti–Money Laundering and fraud detection processes. This includes validating customer information, transaction data, alert histories, and system outputs; identifying data gaps or inconsistencies; and providing practical, risk-focused recommendations to improve data quality, support effective monitoring, and strengthen regulatory compliance and fraud detection capabilities.
Remediation Services
Look-Back Services
We specialize in conducting comprehensive look-back reviews that uncover previously undetected suspicious activity. A look-back involves examining transactions over a defined period to ensure your institution is fully aligned with regulatory expectations and protected against financial crime. The review produces a defensible record of scope, methodology, findings, and outcomes that stands up to examiner and enforcement scrutiny.
Our team of experienced data scientists and AML compliance experts bring both technical precision and deep industry knowledge to the process. By leveraging proven methodologies, we deliver reviews that are thorough, efficient, and cost-effective, saving your institution valuable time and resources while strengthening your compliance program.
Voluntary Transaction Review
Our remediation services are designed to help your institution overcome regulatory challenges with confidence. Whether it involves correcting data issues, performing a mandated look-back, or addressing findings from an exam, our team provides the expertise and guidance you need. We focus on resolving issues efficiently while leveraging the latest cost-saving methods, ensuring your institution is back on track and well-prepared for future regulatory expectations.
Consent Order Advisory Services
ARC Risk and Compliance has a strong history of assisting clients through various remediation initiatives. We partner with institutions to deliver guidance aligned with regulatory standards and a structured plan of action. The approach includes management reporting, tracking of remediation activities, and expert consultation on resolution. Our team creates a roadmap to meet the requirements outlined in a financial institution’s consent order or voluntary remediation project.
AML Advisory Services
At ARC we provide expert support to help organizations design, strengthen, and maintain effective Anti–Money Laundering frameworks. These services include AML risk assessments, regulatory gap analysis, policy and procedure development, KYC/CDD enhancements, transaction monitoring optimization, and regulatory remediation to ensure compliance and mitigate financial crime risk. We have a Lookback tool, Rewind™ which specializes in effective and efficient remediation, lowering risk and costs.
AML Implementation Software Services
RFI/RFP Creation & Process Services
With over a decade of AML industry experience, we have deep knowledge of the leading software vendors, their capabilities, and functionality. After reviewing your Business Requirements Documentation (BRD) and Functional Requirements Documentation (FRD), we identify the critical questions your institution should be asking. An effective RFI/RFP process considers multiple vendors and a range of solutions, designed to give you confidence, clarity, and peace of mind in selecting the right system.
Business Requirements Documentation
We collaborate with both compliance and IT teams to effectively bridge the gap between business needs and technical execution. With extensive experience in developing, implementing, upgrading, reducing false positives, and conducting independent verification, validation, and model validation across a wide range of systems, ARC Risk and Compliance offers a unique expertise in creating Business Requirements Documentation (BRD). Our BRDs are tailored specifically for AML/BSA, OFAC, CDD/KYC, and FinCEN 314(a) programs.
Functional Requirements Documentation (FRD)
This service provides structured and detailed documentation of business, regulatory, and system requirements to support the design, implementation, or enhancement of processes and technology solutions. This includes capturing functional workflows, user requirements, data inputs/outputs, controls, and compliance needs to ensure alignment between business objectives, regulatory expectations, and technical implementation.
User Acceptance Testing (UAT)
ARC’s UAT service provides a structured creation and management of all UAT-related documentation to support effective testing and go-live readiness. This includes UAT strategies, test plans, test scenarios and cases, traceability matrices, defect logs, and sign-off artifacts to ensure solutions meet business, operational, and regulatory requirements.
Testing Services
With nearly two decades of AML industry expertise, ARC Risk and Compliance recognized the need to improve how testing is conducted across the industry. In response, we developed an innovative, modernized testing methodology. Our clearly defined and structured process ensures success by thoroughly documenting and supporting a wide range of specialized anti-money laundering (AML) technology testing.
AML Advisory Services
Designed for AML Software Implementation, this group of services provides expert support throughout the selection, configuration, and deployment of AML technology solutions. These services include requirements definition, vendor evaluation, functional design, scenario and rule configuration, data mapping, UAT support, regulatory alignment, and post-implementation validation to ensure the system effectively meets business needs and regulatory expectations.
Risk Assessment Services
AML Risk Assessment
The FFIEC manual recommends reassessing your financial institution’s BSA/AML risks every 12 to 18 months. While this process can be managed internally, an independent review provides an objective perspective and further demonstrates your institution’s commitment to compliance. Over the past 15 years, AML risk assessments have evolved, shifting from a largely qualitative approach to a more structured, data-driven methodology. A well-executed independent assessment helps ensure that risk conclusions are supportable, repeatable, and aligned with how regulators evaluate risk today. ARC Risk and Compliance provides the independent expertise needed to keep your assessments current and defensible.
Coverage Assessment
This service evaluates the effectiveness and completeness of existing AML and fraud prevention frameworks, controls, and monitoring systems. This includes assessing coverage across customer types, products, channels, geographies, and risk scenarios; identifying gaps, overlaps, and weaknesses; and providing actionable recommendations to enhance detection capabilities, regulatory compliance, and financial crime risk management. The review establishes with confidence how the rules in your Transaction Monitoring system align appropriately with your AML Risk Assessment.
GLBA Risk Assessment
This service helps organizations evaluate and manage risks related to the protection of customer information in accordance with the Gramm–Leach–Bliley Act (GLBA). This includes identifying and assessing threats to nonpublic personal information (NPI), evaluating the effectiveness of administrative, technical, and physical safeguards, performing gap analysis against GLBA Safeguards Rule requirements, and providing actionable recommendations to strengthen data security and compliance.
Fraud Risk Assessment
ARC’s Fraud Risk Assessment helps organizations identify, assess, and prioritize fraud risks across products, processes, channels, and customer segments. This includes evaluating inherent and residual fraud risks, reviewing the effectiveness of existing controls and detection mechanisms, identifying gaps and vulnerabilities, and providing clear, actionable recommendations to strengthen fraud prevention, detection, and response capabilities.
Staff Assessment
Our Staff Assessment evaluates the skills, competencies, and effectiveness of employees relative to their roles, responsibilities, and organizational objectives. This includes assessing knowledge of policies, procedures, and regulatory requirements, identifying training needs, measuring performance against relevant industry standards, and providing recommendations to enhance staff capabilities, compliance awareness, and overall operational effectiveness.
Vendor Risk Assessment
This service helps organizations identify, evaluate, and mitigate risks associated with third-party vendors and service providers. This includes assessing vendors’ operational, financial, regulatory, cybersecurity, and compliance risks, reviewing contractual obligations and controls, identifying gaps, and providing recommendations to ensure vendor relationships are managed in a manner that does not expose the organization to financial, operational, or reputational risk.
Staffing & Outsource Solutions
AML Program Outsource
Financial institutions and credit unions are responsible for monitoring transactions, screening customers and members against sanctions, and maintaining strong customer due diligence. These essential tasks carry significant regulatory, financial, and administrative burdens. To help reduce this strain on the U.S. financial system, FinCEN issued an interagency statement encouraging institutions to explore opportunities for sharing BSA resources. ARC Risk and Compliance provides outsourcing solutions that ease the burden while ensuring compliance excellence.
AML Staff Augmentation
ARC Risk and Compliance is a leading provider of anti-money laundering (AML) consulting services, backed by an extensive network of experienced professionals. For every engagement, we deliver the right individual or team, on-site or remote, to seamlessly augment your institution’s staffing needs and ensure your compliance program remains strong and effective.
Backlog Alerts Reviews
This service helps organizations efficiently manage and resolve pending or overdue alerts and cases related to AML, OFAC, EDD, and fraud monitoring. This includes reviewing backlog alerts, conducting investigations, documenting findings, escalating high-risk cases, and providing recommendations to streamline processes, reduce operational risk, and ensure regulatory compliance.
Fraud Services
Fraud Model Validation
This service provides an independent assessment of fraud detection and prevention models to ensure they are accurate, effective, and compliant with regulatory expectations. This includes evaluating model design, assumptions, data quality, performance metrics, and predictive accuracy, as well as identifying weaknesses and providing clear, actionable recommendations to enhance model reliability, reduce false negatives, and strengthen overall fraud risk management. In addition, this service is intended to reduce your fraud losses.
Fraud Risk Assessment
This service helps organizations identify, evaluate, and prioritize potential fraud risks across products, processes, systems, and channels. This includes analyzing inherent and residual risks, assessing the effectiveness of existing controls and detection mechanisms, identifying gaps or vulnerabilities, and providing actionable recommendations to strengthen fraud prevention, detection, and response capabilities while minimizing financial and reputational losses.
Fraud Tuning & Optimization
This service enhances the efficiency of fraud detection and prevention systems. This includes analyzing alerts and case outcomes, fine-tuning rules and scoring models, reducing false positive/negatives, improving detection accuracy, and optimizing workflows to ensure timely and effective fraud identification while minimizing operational costs and customer friction.
Fraud Staff Augmentation
This service provides organizations with skilled fraud prevention and detection professionals to support operational needs, projects, or peak workloads resulting from staff turnover, medical leave or leave of any sort. This includes onboarding experienced resources for alert investigation, case management, fraud risk analysis, model support, and regulatory compliance, enabling organizations to strengthen fraud control capabilities without long-term hiring commitments.
Fraud Program Outsource
Financial institutions and credit unions are responsible for managing fraud prevention and reporting. These essential tasks carry significant financial, and administrative burdens. ARC Risk and Compliance provide outsourcing solutions that ease the burden while minimizing fraud costs.