I have been to a couple of BSA seminars and almost all of them have said that the Board of Directors need to have some type of BSA training. I understand why they need the training, but I am curious on how many banks actually train their Board of directors in BSA?

I gave the Board training in BSA at least twice a year (I get 15 minutes each month at the Board meeting for training). Last two topics, SARs and MSBs.

We do annual BOD training, and monthly, the Audit & Compliance committee get briefed on hot BSA issues.

We do annual BOD training. I also bring up any hot issues to the Compliance Committee. The Compliance Committee minutes goes to the board, so they are made aware of any issues as well.

Does anyone have a good format they'd be willing to share for BOD training (BSA), I really don't see my board members taking our on-line course.

I think the powerpoint presentation on BOL tools along with a script is a good starting point.

I think that is Pam's powerpoint...

Our online training is thru BVS and they have started a video library. They are very short and have printed material as handouts. We showed one of the BSA courses at the last board meeting and it was VERY well received and prompted several good questions out of the members.

I train our Board once a year on BSA/AML/SAR. I get about 7 minutes and try to hit the "high points", particularly what I am seeing in SAR activity (though they already know that, as all SARs are reported to them). But they seem very interested in the topic.

Is there a requirement for BOD BSA training or is it just "recommended"?

I train the Board once per year at the same time I ask them to approve the BSA policy with any updates/changes. They also get information about SARs reported and we are beginning to do monthly reports on various types of transaction monitoring and risk assessment on a summary level. Many of our Board members attend bankwide staff meetings and get additional training in that manner. They also take turns attending various outside conferences, seminars, and webinars.

Who is BVS?

1.) One of the drawbacks of not having BSA training is some banks may have their abilities limited to purchase or merge other banks. I was at a training seminar in January in which our speaker described a situation where this existed solely because no BSA training had been given to the BOD.

Now I want to be the devils advecate here.

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I train the Board once per year at the same time I ask them to approve the BSA policy with any updates/changes. They also get information about SARs reported and we are beginning to do monthly reports on various types of transaction monitoring and risk assessment on a summary level.

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This is not training, this is a requirement under BSA. I am just trying to find out what your regulators say about this. Because I personally would not consider it training. Our employees are required to do CIP when they open an account, but the action of CIP is not training.

It's required. ALL bank personnel must have applicable BSA training. Since the board is ultimately responsible for all BSA activities, they need to have BSA training on all aspects of BSA. They are also responsible for approving the BSA policy.