BSA Risk Assessment Workshop

Before you can write policies, before you can schedule that next audit, and before you can assign your next training course, you must review and update your institution’s BSA AML/CFT Risk Assessment. What new inherent risks are out there? How are you measuring your risks?

In this session, we will discuss how to update your risk assessment to ensure it addresses your areas of highest risk. We will identify the BSA/AML risks to your institution and provide best practices to measure those risks and implement controls to mitigate them. In addition, we will work through how to address FinCEN’s AML/CFT Priorities within your risk assessment and BSA program as.

A BSA AML/CFT risk assessment template will be provided, and we will discuss key risk factors, so you can walk away with what you need to update this valuable tool.

After this session you will be able to:

· Identify and measure BSA/AML risks of your institution’s location, products, services, and processes

· Define risk levels and scoring methodology

· Determine appropriate internal controls that mitigate your initial risks

· Incorporate FinCEN’s AML/CFT Priorities into your risk assessment process

· Report risk assessment results to senior management and the board

· Utilizing your risk assessment to guide audit scope

This session is ideal for: BSA Officers, BSA Department personnel, Compliance Officers, and Risk Management staff.