On Demand Course

BSA: BSA/AML/OFAC Risk Assessments

This webinar focuses on the importance of proactive risk assessments for financial institutions to comply with the Bank Secrecy Act (BSA), Anti-Money Laundering (AML) regulations, and Office of Foreign Assets Control (OFAC) requirements. The presentation emphasizes that these assessments are not one-time exercises but a continuous process to identify vulnerabilities and protect an institution's operations from illicit activities. It also discusses how to evaluate a financial institution's inherent and residual risks by analyzing its customer base, products, services, and geographic locations.

Learning Objectives

After attending this presentation, participants will be able to:

  • Understand the fundamental role of risk assessments as a proactive measure in financial crime compliance.
  • Identify the core elements that must be considered when conducting a BSA/AML/OFAC risk assessment.
  • Distinguish between inherent risk and residual risk within the context of risk assessments.
Sharon Blanchette 1 HR
Included with Team Membership

About This Course

This webinar focuses on the importance of proactive risk assessments for financial institutions to comply with the Bank Secrecy Act (BSA), Anti-Money Laundering (AML) regulations, and Office of Foreign Assets Control (OFAC) requirements. The presentation emphasizes that these assessments are not one-time exercises but a continuous process to identify vulnerabilities and protect an institution's operations from illicit activities. It also discusses how to evaluate a financial institution's inherent and residual risks by analyzing its customer base, products, services, and geographic locations.

Learning Objectives

After attending this presentation, participants will be able to:

  • Understand the fundamental role of risk assessments as a proactive measure in financial crime compliance.
  • Identify the core elements that must be considered when conducting a BSA/AML/OFAC risk assessment.
  • Distinguish between inherent risk and residual risk within the context of risk assessments.

 

*This program does NOT qualify, nor meet the National Standard for NASBA accreditation. 

Your Instructor

Sharon Blanchette
Sharon Blanchette

Sharon Blanchette is a risk, compliance, and anti-financial crimes (AFC) subject matter expert who has enjoyed a long career working with banks, credit unions, fintechs, mortgage companies/servicers, and the vendors who support them.

Sharon's specialties include building and enhancing compliance and AFC programs, assisting institutions during mergers and acquisitions, serving as a temporary outsourced compliance or AFC officer, managing lookbacks, and breaking down complex regulations and requirements into effective training materials.

Sharon is a Certified Public Accountant, a Certified Internal Auditor, a Certified Anti-Money Laundering Specialist, and holds the Consumer Regulatory Compliance Manager certification. In early 2021 she obtained a crypto currency certification and a cannabis risk management certification. She serves on the Board of the Virginia Chapter of ACAMS. She enjoys publishing articles and speaking on industry topics.

Training your team?

This course is covered under team memberships.

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Buying for yourself?
$ 99
Included with Team Membership
Training your team?

This course is covered under team memberships.

See Team Memberships
$ 99
per attendee