Explores a bank board’s key responsibility for overseeing the creation and maintenance of a culture of compliance with Bank Secrecy Act/anti-money laundering rules and the Office of Foreign Assets Control trade sanctions. This includes reviewing risk assessment findings, information systems and the resources devoted to compliance, as well as the bank’s BSA/AML/OFAC policies and programs.
What You’ll Learn
After successfully completing the course, you will be able to:
- Describe the unique roles of BSA/AML and OFAC rules in ensuring safety and security
- Explain the BSA responsibilities assigned to the board of directors
- Explore the five components of a strong BSA/AML program