Senior Level Education - It is essential for the
leaders of any financial institution to clearly understand BSA/AML compliance
responsibilities, corporate buy-in, risk assessment and compliance program
objectives and development. As regulators explore the possibility of personal liability for BSA compliance failures, education in BSA will be crucial for senior level personnel. We will provide your leaders with the understanding
they need to be successful in the compliance arena as well as to protect themselves against personal liability for compliance failures.
Supervisory Intervention - Differences
of opinion between financial institutions and their regulators often arise regarding
regulatory requirements. Resolution of
those issues can be difficult. We completely understand the regulatory requirements
of the BSA and can intervene with supervisory authorities to resolve
differences of interpretation of regulatory requirements, assessments of risk
and other issues that may cause difficulty in an examination environment.
Training - Providing effective training to
directors, senior management and other institution staff is critical to overall
compliance with the BSA. We can provide expert BSA/AML training to all staff
levels and assist with the development of ongoing training programs.
Compliance Program Assessment - A lack of
understanding of an adequate BSA/AML compliance program is the basis for much
regulatory criticism. We can review your program and any criticisms,
recommendations or suggestions from your auditors or regulators to enhance the
adequacy and effectiveness of your compliance efforts.
Risk Assessment - The adequacy of a BSA/AML program
is based on the adequacy of the risk assessment conducted by the financial
institution. If you don't appropriately assess the risk, you can't
appropriately address the risk. We can help you understand the risks associated
with your products, services and customers to enhance your over all institution
Examinations and Audits - We understand the
regulatory expectations of FinCEN, the primary federal and state regulators and other agencies that examine for BSA compliance. We can
help you prepare for upcoming examinations and audits, assist you during the
conduct of examinations and audits and assist you with any needed follow up or
corrective action to examination and audit findings or criticisms.
Subject Matter Expertise/Consulting - We can provide
expertise across a wide variety of BSA and AML related issues such as customer
due diligence, enhanced due diligence, transaction monitoring, suspicious
activity reporting as well as technical consulting on USA Patriot Act and Bank
Secrecy Act compliance requirements.