bank secrecy act / anti-money laundering (bsa/aml) compliance

More documents

Recommendations

Info

INDEPENDENT TESTING Should be conducted by the internal auditdepartment, outside auditors, or other qualifiedindependent parties – at least every 12 to 18 months. Results reported to the board. Risk-based, covering all of the credit union’s activities. Program effectiveness Risk assessment evaluation Personnel knowledge and adherenceBSA COMPLIANCE OFFICER(S)Board of Directors must designate a qualified employee(s) toserve as the BSA compliance officer24
BSA COMPLIANCE OFFICER(S) Must be appointed (NCUA Part 748.2) Responsible for management of the credit union’sBSA compliance program Board must ensure the BSA compliance officer(s) hasthe sufficient authority and resources to administerthe compliance program. Line of communication should allow the BSAcompliance officer(s) to regularly apprise the boardand senior management of ongoing BSA compliance.TRAININGAll appropriate personnel must be trained in the applicableaspects of the BSA25
Page 3 and 4: BSA/AML BACKGROUND AND PURPOSE Made
Page 5 and 6: PRE-EXAM REVIEW Contact management
Page 7 and 8: RISK ASSESSMENTThe risk assessment
Page 9 and 10: RISK ASSESSMENT - PRODUCTS AND SERV
Page 11 and 12: INTERNAL CONTROLS Made up of the cr
Page 13 and 14: INTERNAL CONTROLS - REPORTING BSA r
Page 15 and 16: CURRENCY TRANSACTION REPORTEXEMPTIO
Page 17 and 18: CURRENCY TRANSACTION REPORTSPHASE I
Page 19 and 20: INTERNAL CONTROLS - REPORTINGSUSPIC
Page 21 and 22: INTERNAL CONTROLS - REPORTINGSUSPIC
Page 23: INTERNAL CONTROLS - RECORDKEEPING F
Page 27 and 28: CUSTOMER/MEMBERIDENTIFICATION PROGR
Page 29 and 30: INFORMATION SHARING314(A) REQUESTS
Page 31 and 32: PENALTIES FOR BSA VIOLATIONS Indivi
Page 33 and 34: OFAC - PROHIBITED TRANSACTIONS Proh
Page 35: RESOURCES MCUL: www.mcul.org (InfoS

bank secrecy act / anti-money laundering (bsa/aml) compliance

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?