Description

Top Regulatory/Audit Criticisms of a BSA Risk Assessment – Financial institutions are required to complete a BSA/AML and OFAC risk assessment that captures the associated risks and controls to ensure the BSA/AML and OFAC programs are safe and sound. Over the past several years, there has been a regulatory focus on risk assessments resulting in financial institutions experiencing a heightened degree of criticism. This webinar will review the latest criticisms based on deficiencies in BSA/AML and OFAC risk assessment documentation and take attendees through how they should approach documenting the risks, analyzing their data and determining what gaps they have in their current programs to ensure their program is working as intended.

Speakers: Terri Sands, Managing Director, Payments, Regulatory Compliance and Financial Crimes, Stout.

Topics include:

• Regulatory requirements of BSA/AML and OFAC Risk Assessments
• Latest Exam Expectations
• Top Deficiencies in Risk Assessments
• Importance of Data Analysis
• Best business practices for documenting the BSA/AML and OFAC Risk Assessments

• BSA Officers and Support Staff
• Risk Management
• Internal Audit
• Compliance
• Senior/Executive Management

Topics include:

• BSA - AML
• OFAC