Financial institutions are required to be compliant with BSA rules and regulations. Such compliance needs to be well documented and consistent to ensure financial institutions avoid BSA violations and implications. Financial institutions’ BSA Programs must have adequate risk assessment policies and procedures, monitoring programs, training programs, qualified employees overseeing the BSA daily operations and independent testing programs. An effective BSA risk assessment program will ensure that all areas are being evaluated for risk appropriately and being monitored on a routine basis. Having a strong BSA risk assessment program will ensure that financial institutions are proactive in assisting the Bank in mitigating risk that can negatively impact its strategic and business plans for growth, development, and compliance.

This Bank Secrecy Act risk Assessment training will highlight BSA best practices that are being acknowledged and recognized by regulators and examiners and will discuss each risk assessment area.

Course Objective:

Although financial institutions have been managing BSA operations per the regulation requirements, the change in focus to appropriate BSA/AML/OFAC risk assessment has been coming increasingly important. Regulators look to the bank for insurance and evidence that BSA operations are appropriately performing risk assessments. Appropriate risk assessments are essential in a bank’s strategic planning and development, as well as assisting in compliance.

This webinar highlights BSA/AML/OFAC risk assessments. The areas of focus outlined in this webinar are based on best industry practice, supervisory experience and cover the major components of an effective BSA risk assessment program that audit focuses on. The instructor will look at these areas and the specifics of each area as it pertains to BSA compliance.

Course Outline:

• Implementing BSA risk assessment
• Assessing policies and procedures for risk assessments
• Comprehensive Risk Assessment review for BSA / AML / OFAC
• Review of risk assessment matrixes
• Determining effectiveness and thoroughness of risk assessments
• Performing risk assessments

What You Get:

• Training Materials
• Live Q&A Session with our Expert
• Participation Certificate
• Access to Signup Community (Optional)
• Reward Points

Who Will Benefit:

• BSA / AML Officers
• Internal Auditors
• Staff with roles and responsibilities in BSA / AML management and oversight
• Money Service Business BSA/AML Officers
• Corporate Audit