The idea behind having a BSA Risk Assessment is to break down your bank’s BSA/AML risks into smaller, more manageable parts. There is no specific methodology which means that each bank’s risk assessment can, and likely will, look different. No two banks are the same. The BSA Officer and your BSA Team play a crucial role in developing and updating your risk assessment.
Kevin explains more in the video.
- Current Events and Hot Topics
- Updates on AML Reform and the New Exam Manual
- BSA/AML & OFAC Risk Assessments
- Program Requirements (Controls, Testing, Training, Officer & CDD)
- Customer Identification Program
- Customer Due Diligence (Including the Beneficial Owner Rule)
- Currency Transaction Reports & Exemptions
- Suspicious Activity Reporting Requirements
- OFAC, 314(a) and 314(b) Requirements
Kevin brings years of experience and a unique perspective on regulatory matters to our clients. A self-proclaimed geek and accredited CRCM, Kevin is also a recovering attorney with experience as in-house counsel for a large regional bank and one of the leading national title insurance providers. For reasons unknown, Kevin decided to leave the safety and serenity of his desk job to seek fortune and glory as a wandering adventurer. Like a bank compliance version of Kwai Chang Caine, The Man with No Name or Don Quixote, he now travels the land seeking to help those in need and righting compliance wrongs, wherever he may find them.
Kevin lives in Sioux Falls with his two children, who are surprisingly normal after having endured their father’s vivid imagination for their entire lives. He won’t admit to having any hobbies, because apparently “Regulations never sleep.” (While he does say this in his Batman voice, we’re pretty sure he’s joking.) From the looks of his Facebook page, he likes the outdoors and spending time with his large extended family (who seem like relatively normal people).