Banker's Toolbox customers can take advantage of specialized BSA/AML risk assessment, policies, procedures, program development, training, and monitoring services. The consulting team handles projects concerning banking operations, compliance programs, policy and procedure development, and process review. Other notable services include OFAC risk assessment and identity theft program development.
Risk Scoring using Rules Based Risk Rating (RBRR) Evaluates and recommends values for RBRR risk scoring factors, or even implement your RBRR module for all customer accounts.
In order to be proactive in complying with the Bank Secrecy Act and the identification of suspicious activity, regulators have mandated that institution's have a process in place to identify accounts that are at a higher risk for money laundering, terrorist financing and other illegal activity. The assessment process should weigh a number of factors, including the risk identification and measurement of products, services, customers, and geographic locations.
Banker's Toolbox provides a risk scoring module, Rules Based Risk Rating, as part of the BAMTM system. Establishing values can be time consuming for certain institutions. Banker's Toolbox Consulting has the following consulting services related to the RBRR module:
RBRR Review - The RBRR Review is a quick analysis of the values established by an institution for the purposes of risk scoring. Scoring parameters are established by product, location, customer type, industry, and transactions. Banker's Toolbox Consulting will conduct the review for completeness and applicability for your institution.
Deliverables: Evaluation and Recommendations for RBRR (summary report).
RBRR Implementation - In this service Banker's Toolbox Consultants will implement your Rules Based Risk Rating module for all customer accounts. We will conduct the following as part of this project:
- Evaluation of the institution's overall risk assessment as it relates to customer risk.
- Determine appropriate structure and parameters for the risk rating categories. This requires approval by the institution.
- Set up of entire program on your BAMTM system.
- Report of RBRR criteria evaluation factors and instructions for maintenance of the established values.
Deliverables: Detailed report of RBRR Criteria Evaluation Factors.
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First Federal Savings Bank of Twin Falls Success Story