Regulators expect banks to show that their BSA operations rest on sound risk assessments. This BSA/AML/OFAC risk assessment training covers practices that regulators and examiners recognize, along with AML risk categories and each assessment area.
You'll learn how to review policies and procedures for risk assessments, identify your organization's risks and set a risk threshold based on your strategic plans and business models.
The session explains how to review your BSA, AML and OFAC risk assessments for completeness and thoroughness, judge whether your risk matrices fit your organization, perform each type of assessment and review them periodically so they stay relevant and adequate.
WHY SHOULD YOU ATTEND?
Appropriate risk assessments support strategic planning, help a bank understand its risk threshold and assist with OFAC compliance. The topics are based on industry practice and supervisory experience and cover the components of a BSA risk assessment program that auditors focus on.
The session suits BSA/AML officers, internal auditors, money service business BSA/AML officers and staff with BSA/AML management or oversight duties.
AREA COVERED
- Implementing a BSA risk assessment
- Assessing policies and procedures for risk assessments
- Reviewing BSA, AML and OFAC risk assessments in full
- Reviewing risk assessment matrices
- Judging the completeness and thoroughness of risk assessments
- Understanding OFAC risk factors and performing OFAC risk assessments
- Periodic review of risk assessments
LEARNING OBJECTIVES
- Review and evaluate policies and procedures for risk assessments
- Identify your organization's risks
- Set a risk threshold based on strategic plans and business models
- Check BSA/AML/OFAC risk assessments for completeness, thoroughness and suitable matrices
- Perform BSA, AML and OFAC risk assessments
- Review risk assessments periodically and implement an assessment program
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
Appropriate risk assessments support strategic planning, help a bank understand its risk threshold and assist with OFAC compliance. The topics are based on industry practice and supervisory experience and cover the components of a BSA risk assessment program that auditors focus on.
The session suits BSA/AML officers, internal auditors, money service business BSA/AML officers and staff with BSA/AML management or oversight duties.
- Implementing a BSA risk assessment
- Assessing policies and procedures for risk assessments
- Reviewing BSA, AML and OFAC risk assessments in full
- Reviewing risk assessment matrices
- Judging the completeness and thoroughness of risk assessments
- Understanding OFAC risk factors and performing OFAC risk assessments
- Periodic review of risk assessments
- Review and evaluate policies and procedures for risk assessments
- Identify your organization's risks
- Set a risk threshold based on strategic plans and business models
- Check BSA/AML/OFAC risk assessments for completeness, thoroughness and suitable matrices
- Perform BSA, AML and OFAC risk assessments
- Review risk assessments periodically and implement an assessment program
- BSA/AML Officers
- Internal Auditors
- Staff with roles and responsibilities in BSA / AML management and oversight
- Money Service Business BSA/AML Officers