BSA/AML Annual Risk Assessment

A robust BSA/AML/OFAC Risk Assessment has become a MUST HAVE.

A Risk Assessment is an integral part of your BSA program. Instead of viewing it as a chore, use it to your Institution’s advantage by:

  • Enabling management to better identify and mitigate gaps in the bank’s BSA/AML controls.
  • Provide a comprehensive analysis of the BSA/ AML risks in  a concise and organized manner;
  • Justify your Risk Assessment with Hard Facts
  • Ensuring your BSA/AML/OFAC Risk assessment is Board Approved
  • Updating your risk assessment on an Annual basis
  • Monitoring the risk associated with both foreign and domestic geographic locations where branches may have a higher perceived risk
  • Maintaining your Institutions Customer Identification Program (“CIP”)
  • Evaluating the institution's OFAC risk
  • Examining all products and services you offer and the transaction activity is normal for them.

GRC Solutions has a proven track record of ensuring that our clients have a robust Risk Assessment that meets FFIEC guidance.