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Risk Assessment

The Risk Assessment includes a review of the bank’s written policies, procedures, and processes to determine the overall adequacy of their BSA/AML compliance program. All examination findings will be discussed with management, and significant findings will be included in a report of the examination.

  • Determine whether the bank has included all BSA/AML risk assessment areas, including new products, services, or targeted customers, entities, and locations.
  • Determine whether the bank’s process for periodically reviewing and updating its BSA/AML risk assessment is adequate. If there is no developed risk assessment, or if the risk assessment is inadequate, then they must complete a risk assessment.
  • Document and discuss the bank’s BSA/AML risk profile and any identified deficiencies in the bank’s BSA/AML risk assessment with bank management.