Monitoring High Risk Transactions

Why Should You Attend :

An effective BSA/AML compliance program controls risks associated with the institution’s products, services, customers, entities, and geographic locations; therefore, en effective risk assessment should be an ongoing process, not a one-time exercise. Monitoring your risks includes monitoring your transactions, especially your high risk transactions.

Per the FFIEC Manual: The development of the BSA/AML risk assessment generally involves two steps: first, identify the specific risk categories (i.e., products, services, customers, entities, transactions, and geographic locations) unique to the institution: and second, conduct a more detailed analysis of the data identified to better assess the risk within these categories.

Several examples of a system of internal controls will help you document your monitoring program.

Areas Covered in the Webinar:

• Resources.
• Accessing the data: What are the obstacles? Core system, teller system, BSA monitoring program, etc.
• How did the activity occur? In person, telephone, internet, wire, ATM, or ACH.
• Sample risk assessment for products and services.
• Systems of internal controls.
• Managing Non Resident Aliens.
• Documenting and Monitoring a Cash In and Cash Out Report.

Who Will Benefit:

• Financial Officers
• Bank Secrecy Act Officers
• Front Line Staff
• Risk Officers
• Operational Managers