|Topic : AML OFAC risk assessment cornerstone of an effective compliance shop|
This Bank Secrecy Act risk Assessment training will highlight BSA best practices that are being acknowledged and recognized by regulators and examiners and will discuss each risk assessment area.Risk assessments are the backbone of any well-built Anti-Money Laundering and Office of Foreign Assets Control compliance program.
An efficient and effective program cannot be developed without knowing where one's risks reside. Today, many businesses both financial and non-financial institutions are conducting these assessments to uncover risks, design strong compliance programs, and mitigate their exposure. There are many decisions that need to be made when you decide to conduct an AML/OFAC risk assessment.
Why should you attend this webinar?
Although financial institutions have been managing BSA operations per the regulation requirements, the change in focus to appropriate BSA/AML/OFAC risk assessment has been coming increasingly important. Regulators look to the bank for insurance and evidence that BSA operations are appropriately performing risk assessments. Appropriate risk assessments are essential in a bank's strategic planning and development, as well as assisting in compliance.
This webinar highlights BSA/AML/OFAC risk assessments. The areas of focus outlined in this webinar are based on best industry practice, supervisory experience and cover the major components of an effective BSA risk assessment program that audit focuses on. The instructor will look at these areas and the specifics of each area as it pertains to BSA compliance.
Areas Covered in the Session:
Who can Benefit: