Our professional services team is here to help with a variety of problems you or your staff may be facing. Here are just a few of the things we can help with. Need help with something that isn’t on this list? No problem. Contact us today so we can come up with a custom solution for you. 

 

Fifth Pillar Program Evaluation

It’s finally here: the long-awaited new rule on customer due diligence (CDD) and beneficial ownership is finally in effect, also known as the fifth pillar of BSA. We know there were a multitude of changes and examiners will want to see that you’ve made those necessary changes to keep your BSA/AML program is up to speed. Our through understanding of the rule allows us to analyze your program to ensure you are fulfilling your requirement to identify and verify the identity of beneficial owners of legal entity customers.

 

Risk Based Calibration Document (RBCD)

When it comes to creating a risk-based compliance program, one size doesn’t fit all for BSA/AML or fraud. That is why our solutions are flexible enough to fit your needs. Our consultants will help calibrate your system based off your unique risk profile and provide you with a Risk Based Calibration Document (RBCD) that outlines the details of how the system was calibrated.

 

BSA Exam Prep

On top of your everyday responsibilities, preparing for a BSA exam can be daunting. Our consultants can help you build a strategy to prepare for your next exam, leaving you with action items that will reduce the uncertainty you may have. They’ll work with you to assess your policies and procedures, evaluate your risk assessment, review your board reporting and more – all while giving special consideration to recent regulatory trends.

 

BSA Program Integrity Reviews

We can take an in-depth look at your entire compliance program, including CDD, EDD, CIP, CTRs, SAR filing and more. This is especially helpful when preparing for an exam.

 

BSA Risk Assessment

FinCEN stresses a Culture of Compliance and mandates that financial institutions have a solid, efficient, risk-based BSA/AML program in place. Understanding your institution’s risk profile enables you to apply appropriate risk management processes to your BSA/AML compliance program. We identify your BSA/AML risk, evaluate the effectiveness of the controls in place and provide you with a finalized document detailing the aggregate risk profile of your institution.

 

 

Data Integrity Review

Most institutions obtain the data for their BSA/AML monitoring systems from several data sources, so multiple sets of data must be analyzed in order to perform the required validation. With the evolution of transaction monitoring, the required transparency of the data to support those technologies has increased. Even the best designed systems may be ineffective due to data quality issues. We will assist you in performing a data integrity review to ensure data is accurately and effectively coming into your BSA/AML applications.

 

Enforcement Action Resolution

Did your latest exam not go as well as expected? We can help you get back on track quickly. We’ll work with you to manage the process of responding to and correcting any issues needed for the removal of an enforcement action swiftly.

 

Lookbacks

Whether you’re performing a voluntary or regulatory-requested lookback, we can provide this service for you. We’ll analyze months of previously reviewed transactions to identify potentially suspicious activity.

 

SAMS

We know staying on top of suspicious activity can be an additional full-time job, one you may not have the resources to fill. Let our staff of trained BSA/financial crimes professionals step in and help out. Whether you need short- or long-term relief, we can help your team and give you the support you need on everything from reviewing alerts, working cases, preparing SARs, performing lookbacks and more. Stay compliant and feel confident going into your next exam by working with our staff.

 

Staffing Assessment

Is your staff set up to work as efficiently as possible? We can analyze your current staffing roles and make adjustments that will make your entire organization work better together.

 

Suspicious Activity Program Optimization

The FFIEC BSA Exam Manual recommends that the reasonableness and parameters of your suspicious activity monitoring program be periodically and independently reviewed by a party outside of your institution. Who better to analyze your use of your software to ensure that you’re using the tools effectively than the experts behind the scenes?

 

System Setup

You have strengthened your BSA/AML program with one of our software solutions, so now what? Our team of experts will work with you to make sure your system is running at its most efficient. From Due Diligence Manager Calibration to Clear with Action Policies and Procedures, BSA Manager Set Up to Rules-Based Risk Rating Efficiency Review, we can do it all. Are you not sure where to start? We also offer product management and professional services hours to make sure we provide the right solution to your problem.