The Five Pillars Of BSA

• How do we identify banking operations (i.e., products, services, customers, entities, and geographic locations) more vulnerable to abuse by money launderers and criminals; provide for periodic updates to the financial institution’s risk profile; and provide for a BSA/AML compliance program tailored to manage risks?
• When do we inform the board of directors, or a committee thereof, and senior management, of compliance initiatives, identified compliance deficiencies, and corrective action taken, and notify directors and senior management of SARs filed?
• What regulatory recordkeeping and reporting requirements meet recommendations for BSA/AML compliance, and provide for timely updates in response to changes in regulations?
• When do we provide for adequate supervision of employees that handle currency transactions, complete reports, grant exemptions, monitor for suspicious activity, or engage in any other activity covered by the BSA and its implementing regulations?
• Who should incorporate BSA compliance into the job descriptions and performance evaluations of the financial institution’s personnel, as appropriate?

• How to check the overall adequacy and effectiveness of the BSA/AML compliance program.
• What is our audit supposed to review? Which of these are important?
• Suspicious activity monitoring reports
• Large currency aggregation reports
• Monetary instrument records
• Funds transfer records
• Nonsufficient funds (NSF) reports
• Large balance fluctuation reports
• Account relationship reports

• Who should have responsibilities for BSA?
• What should the title be? What qualifications do you have to have?

• Who must be trained in BSA? What must each employee be trained on? How often?
• Training should include regulatory requirements and the financial institution’s internal BSA/AML policies, procedures, and processes.
• At a minimum, the financial institution’s training program must provide training for all personnel whose duties require knowledge of the BSA.

• Appropriate risk-based procedures for conducting ongoing customer due diligence, to include, but not be limited to: Understanding the nature and purpose of customer relationships for the purpose of developing a customer risk profile; and Conducting ongoing monitoring to maintain and update customer information and to identify and report suspicious transactions.

The live versions are interactive, meaning that participants can ask questions in real time, plus are a very cost-effective form of training because 1) you receive fast, convenient learning without any out-of-office time; 2) you can invite as many colleagues as you'd like to listen in on a single phone line; 3) you incur no travel expenses; and 4) you and your colleagues are back at work immediately after the session ends!

And though with recorded versions you do lose the ability to ask questions, you gain the ability to hear the presentation numerous times and to share it with others in your office.

Handout materials and the phone number for live presentations are made available to you prior to the event via email from the presenter and from the "MyAccount" link on the menu bar. Copies of the presentations are included with recorded versions.

• 40+ Years of Experience
• 600+ Engaging Online Courses
• 450+ Live & OnDemand Webinars