BSA/AML/OFAC Risk Assessments - Are you doing them Correctly?
Craig Taggart has almost a decade of experience in the fields of Mergers & Acquisitions and Business Financing. He has been an expert GRC speaker, consultant, and instructor for over 4 years. Craig has spoken on a very broad range of topics in both seminar and webinar formats. He has been happy to grow his business practice and benefit many professionals around the country. He brings many valuable skills from the finance world into commercial real estate. Craig works with each client at the highest level to achieve the highest value for their business. His experience in the M&A Industry has greatly contributed to his understanding of transaction structure, strategic placement of buyers, and the attainment of maximum market value for his clients. He has represented and sold many businesses in a number of different industries and has significant experience working with companies in real estate, clean energy, and healthcare. Craig is currently working with institutional investors, family offices and their investment criteria for large commercial real estate development opportunities around the country with the following asset classes: hospitality, office, industrial, retail, multi-family, land, healthcare & non-performing notes. As an associate, Craig will work to help his clients receive the greatest return on investment.
is a Certified Merger & Acquisition Advisor, Accredited Valuation
Analyst as well as an active member of Alliance of Mergers and
Acquisition, and The National Association of Certified Valuators and
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.
Financial institutions are required to be compliant with BSA rules and regulations. Such compliance needs to be well documented and consistent to ensure financial institutions avoid BSA violations and implications. Financial institutions’ BSA Programs must have adequate risk assessment policies and procedures, monitoring programs, training programs, qualified employees overseeing the BSA daily operations and independent testing programs. An effective BSA risk assessment program will ensure that all areas are being evaluated for risk appropriately and being monitored on a routine basis. Having a strong BSA risk assessment program will ensure that financial institutions are proactive in assisting the Bank in mitigating the risk that can negatively impact its strategic and business plans for growth, development, and compliance.
- Implementing BSA risk assessment
- Assessing policies and procedures for risk assessments
- Comprehensive Risk Assessment review for BSA / AML / OFAC
- Review of risk assessment matrixes
- Determining effectiveness and thoroughness of risk assessments
- Performing risk assessments
Who Should Attend
- BSA / AML Officers
- Internal Auditors
- Staff with roles and responsibilities in BSA / AML management and oversight
- Money Service Business BSA/AML Officers
- Corporate Audit
Why Should Attend
This webinar highlights the 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.
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 to a bank’s strategic planning and development, as well as assisting in compliance.