BSA Officer Part 3: BSA/AML Deep Dive for the New BSA Officer

BSA/AML officers are responsible for developing and administering a BSA program that provides adequate controls, monitoring processes, independent audits, and ongoing training of your institution’s staff and directors. Wrapping your arms around the many facets of the Act can seem like a daunting task. Where should you focus your time? What are the highest-risk areas? How do you even know what those areas are? When is your next exam? How did the last exam go? How can you communicate new rules and updated procedures to the staff and board? Where can you find out about new rules?

This session will help answer these questions and more. It will take a deep dive into the components of the BSA/AML rules, CIP documentation, CDD requirements, OFAC screening, CTR completion, maintaining information for the sale of monetary instruments and funds transfers, monitoring for and reporting suspicious activity, and much more! Tools and resources will be provided for managing your responsibilities and becoming a successful BSA/AML officer!