Training Course Syllabus:

BSA Risk Assessment: Documenting BSA/AML Risks to Comply with Regulatory Expectations Webinar

Objectives of the Presentation

What is a customer?
What are products & services?
What is included in geography?
Distinguishing between those three
Secondary Risk Factors
Inherent Risk - Mitigation = Residual Risk
Calculation Methods

Why Should you Attend

To assist in evaluating their current program, fine tuning their risk assessment, or achieving a sense of peace that they are "doing things right." The webinar will define a customer, products & services, and geography, distinguishing between those three; discusses the current regulatory requirements and the landscape, additional risk factors, what is residual risk and how to calculate risk planning for the future and the importance of an executive summary.

Areas Covered

Review of the BSA/AML Risk Assessment regulatory requirement
Regulatory environment
Common audit findings in BSA/AML Risk Assessments
Outline of a Strong BSA/AML Risk Assessment
The executive summary
Planning for the future

Who will Benefit

BSA/AML Officers, Compliance Officers, Chief Compliance Officers, Sanctions Officers, AML Analysts, Risk Officers, Chief Risk Officers, Legal Departments, Risk Managers and CEO/Presidents at Banks, Broker-Dealers, Money Services Businesses and other non-bank financial institutions

Topic Background

BSA/AML/OFAC Risk Assessments form the backdrop for a strong BSA/AML/OFAC Compliance Program.

Seminar Summary:

There has been an increase in regulatory scrutiny over how financial institutions document their BSA/AML risk controls in the risk assessment. Even though financial institutions have been documenting risk assessments over a long period of time, the expectations have moved from a generalist approach to a more meaningful and specific approach that truly outlines the specifics of the BSA/AML program. Regulators look to the bank to provide strong evidence that the risk assessment represents the BSA/AML program including customers, products & services, and geography. BSA/AML Risk Assessments that describe in depth the inherent risk, mitigating factors and residual risk are essential in a bank's strategic development and Board of Director's governance. (see full course description)

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