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#1522171 - 03/15/11 08:23 PM BSA/AML Risk assessment
LisaL Offline
Junior Member
Joined: Oct 2008
Posts: 35
I thought our Board of Directors must be educated and informed about BSA/AML Risk assessment on an annual basis?
Does our Board of Directors have to annually approve the BSA/AML Risk assessment?
TIA
Lisa

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Risk Management
#1522268 - 03/15/11 11:23 PM Re: BSA/AML Risk assessment LisaL
Moman Offline
Platinum Poster
Joined: Jul 2004
Posts: 505
WA
I have our audit committee review the full packet of BSA risk assessments and programs on an annual basis. The full BOD approved our BSA Policy.

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#1522326 - 03/16/11 12:14 PM Re: BSA/AML Risk assessment Moman
DeeQ Offline
10K Club
DeeQ
Joined: Dec 2002
Posts: 40,766
Turnpike Exit 10
Ditto Moman, the Audit committee approves my BSA and Compliance risk assessments annually along with my compliance review schedule.
_________________________
Get your facts first, then you can distort them as you please. - Mark Twain

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#1522764 - 03/16/11 09:40 PM Re: BSA/AML Risk assessment DeeQ
Doug Hendrickson Offline
Power Poster
Doug Hendrickson
Joined: Oct 2009
Posts: 3,927
We note that the full Board 'reviewed' the Risk Analysis and 'approved' the policy.
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I hear and I forget. I see and I remember. I do and I understand.--Confucius

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