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

Duration: 60 Minutes
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.
BSA/AML Risk Assessments
Instructor: William Schlameuss
Product ID: 509222
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.
$300
Recorded Session for one participant
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Recorded Session - How it works
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  • Upon purchase of the recorded session a link will be updated on your OCP Account within 24 hours
  • Please click on the link to access the Recorded Session
  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account after 48 hours of the product Purchase
  • Please share your valuable Feedback at the end of the session
Instructor Profile:
William Schlameuss has over 20 years' experience in regulatory compliance, including BSA/AML/OFAC. He has worked with a wide range of US branches of major foreign banking organizations from all continents, both as chief compliance officer and compliance consultant. He has a prior background in IT as manager and implementer of core banking and payment systems, as well as compliance-related systems.

Mr. Schlameuss has extensive experience with State and Federal Banking regulators in examination preparation, assistance and response, including assistance in the remediation of written agreements for clients. As a project manager Mr. Schlameuss has led BSA/AML audits, BSA/OFAC Model Validations, remediation efforts of BSA audit issues , and BSA/OFAC look-backs for international banks, both self-imposed and directed by regulatory authorities. Model Validations included Prime, FCRM, Patriot Officer, Actimize, and eGIFTS.

He has conducted the Annual 3130 Supervisory Reviews for Broker-Dealers of the US branches of major FBOs. Mr. Schlameuss is also a member of the Association of International Bank Auditors and the International Bank Regulatory Compliance Committee.
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