AML/BSA Internal Audits- Best Practices

Product Id IQW15C6612
Level Intermediate
Duration 60 Mins
On-Demand Schedule Sun, December 09, 2018 - Sun, December 16, 2018
  • Description
  • Why should you attend
  • Areas covered
  • Who will benefit
  • Speaker
  • All-Access Pass

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 policies and procedures, comprehensive risk assessments, monitoring programs, training programs, qualified employees overseeing the BSA daily operations and independent testing programs. An effective BSA audit program will ensure that all these components are not only implemented but are appropriate, adequate and thorough to meet the BSA rules and regulations and the needs of the financial institution. Having a strong BSA audit program will ensure that financial institutions are proactive in preventing BSA violations occurring and implementing corrective action for BSA issues or implications that may be identified in the BSA program. 

Although financial institutions have been managing BSA operations per the regulation requirements, the change in focus to BSA audits has been coming increasingly important. Regulators look to the Bank for insurance and evidence that BSA operations are being appropriately audited to ensure that BSA efforts are appropriately implemented and overseen.
This webinar highlights BSA audit best practices that are being acknowledged and recognized by regulators and examiners. In this webinar, we will discuss the areas that regulators and examiners are primarily focusing on in regards to BSA audits.
 
  • Implementing BSA audit best practices 
  • Assessing policies and procedures
  • Comprehensive Risk Assessment
  • Review of monitoring programs
  • Determining effectiveness and thoroughness of training programs
  • Ensuring qualified employee oversight of daily BSA operations
  • Independent testing
  • BSA / AML  Officers
  • Internal Auditors
  • Staff with roles and responsibilities in BSA / AML management and oversight
 
Dr. Gina J. Lowdermilk, Ph.D. (ABD), CAMS, CRMS is a highly experienced and educated BSA/AML and financial regulatory compliance professional with extensive experience in policy and procedure development and implementation, training, internal audit, monitoring, risk management and reporting. Her emphasis has been working with financial institutions that are experiencing regulatory concerns and resolutions, including enforcement actions such as memorandums of understanding and cease and desist orders. Her 15 years of experience has given her the opportunity to work from small community banks to large, international financial institutions. Her roles not only included BSA/AML and compliance, but also operations, lending services, business development, marketing, management, department development, and asset quality. 
Dr. Lowdermilk has worked with almost all financial regulators and examiners. She possesses advanced Microsoft Excel, PowerPoint, Word, Internet Explorer, Visio, and Access skills. She also has experience with FiServ, BAM, CRA Wiz, TeamMate, COGNOS and Metavante banking software. She has been responsible for creating both recurring and ad hoc executive management and board presentations. In addition to her above experience, she is also an adjunct instructor for the business and construction management programs at a local college, as well as writes numerous BSA/AML and compliance articles, training materials, and manuals for numerous clients.
 

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