BSA/AML Services

The Bank Secrecy Act (BSA) is one of the most aggressively enforced banking regulations facing today's financial institutions. BSA/AML, USA PATRIOT ACT and OFAC compliance violations can expose an institution to serious regulatory and reputational risks.

Few institutions maintain the necessary in-house expertise to meet today's demands. Our BSA/AML specialists are prepared to provide institutions of all sizes and complexities with the assistance necessary to develop, implement and maintain an effective program. Specifically, we can provide your institution with:

BSA/AML Compliance Audit/Independent Testing

  • Continuous Audit Model
  • Comprehensive Scope
  • Enterprise-wide Approach

Advisory Services

  • BSA/AML and OFAC Compliance Program Design and Implementation
  • BSA/AML and OFAC Compliance Training (BSA, AML, USA Patriot Act) Development and Delivery
        -  Board of Directors
        -  Management
        -  Staff
        -  On-the-job training
  • BSA/AML and OFAC Risk Assessment
        -  Conduct annual risk assessment
        -  Evaluate existing risk assessment
  • BSA/AML and OFAC Policies and Procedures
        -  Develop
        -  Update for new requirements
        -  Assess existing policies and procedures
  • BSA/AML and OFAC Monitoring
        -  Review applicable requirements across all business lines
  • AML Software
        -  Assist in vendor discussions and in selecting AML software
        -  Perform post-implementation review of AML software
        -  Assist in customizing and parameterization of AML software to suit your needs
        -  Assess existing parameters
  • AML System Validation
        -  Conduct validation required for new AML systems and for changes to existing AML systems
        -  Verify data integrity
  • Look-back Reviews
        -  Identify potentially suspicious activity for SAR filing purposes
        -  File suspicious activity reports as required
        -  Quality Assurance reviews to ensure SARs are thorough and sufficient for regulatory authorities
        -  Conduct follow-up for SARs
        -  Maintain required documentation of SAR investigations
        -  Assess adequacy of "Know Your Customer" and "Customer Identification Program"
  • Transition Management
        -  Enforcement Action Assistance/Remediation

Our enterprise-wide advisory services coupled with our innovative, continuous-audit model provides the assurance you seek by:

  • Identifying gaps in your BSA/AML compliance program
  • Addressing key strategic issues
  • Maintaining an effective testing and reporting strategy
  • Strengthening internal controls through effective BSA/ AML and OFAC monitoring
        -  Conduct targeted request
        -  Perform periodically or ongoing
        -  Assess and evaluate existing monitoring program