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BSA Audit
(Presented By: Patricia Cashman)
Your financial institution, no matter how small or large, is required to have regular comprehensive BSA/AML compliance audits that are fully documented and conducted by qualified parties who are independent of the Bank's business lines and compliance function.  | WEBINAR TIME:
11:30AM - 1:30PM PT
12:30PM - 2:30PM MT
1:30PM - 3:30PM CT
2:30PM - 4:30PM ET |
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A vital and mandatory component to a BSA compliance program involves provisions for the independent testing or auditing for compliance. Whether performed by internal or external staff, an effective audit plays an important role in independently evaluating the risk management and controls, discharging its responsibility to the Audit Committee of the Board of Directors or a similar oversight body through periodic evaluations of the effectiveness of compliance with BSA/AML/OFAC policies and procedures, including related staff training.
Several recent enforcement actions have cited deficiencies within the BSA/AML audits. Particular emphasis has been placed on the inadequacies of the scope, transactional testing and subsequent follow-up on findings. The exam procedures clearly state that "The independent testing scope and workpapers can assist examiners in understanding the audit coverage and the quality and quantity of transaction testing. This knowledge will assist the examiner in determining the examination scope, identifying areas requiring greater (or lesser) scrutiny, and identifying when expanded examination procedures may be necessary."
Whether you are an internal auditor or an outsource vendor, this program will help you to identify deviations from laws, regulations and the institution's policies, document your procedures, and report the findings to management.
This session will assist you in:
Determining the objectives and scope of the audit that will include the required components;
Developing or adapting workpapers that adequately document the audit work performed and support the audit reports; and
Preparation of written conclusion summaries, recommend corrective action and communicate findings to management.
Who should attend? This session is designed for:
New compliance auditors;
Experienced compliance auditors who wants to revise or refresh their work program;
BSA officers who want to know what the auditors and examiners will be testing and how to properly document for compliance issues;
Compliance officers can use this as a training tool for all applicable personnel
About the speaker: Patricia Cashman
Patricia Cashman, CRCM, owner of Cashman Compliance Solutions, began her banking career in 1969. She has been the senior operations officer for three Dallas-Ft. Worth area community banks, an assistant examiner for the Texas Department of Banking and managed the compliance/internal audit division of TIB - The Independent BankersBank, one of the largest bankers' banks in the country.
Additionally, she has spoken as a webcast/teleconference presenter for ABA, taught a variety of compliance subjects for the Texas Bankers Association (TBA) at their Annual Compliance School, provides compliance seminars for the Center for Financial training (CFT, formerly AIB) and been a speaker/trainer for numerous banks, banking and compliance organizations throughout Texas and New Mexico.
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888.229.8872