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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?

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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
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
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.
I hear and I forget. I see and I remember. I do and I understand.--Confucius

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