We are looking to create some efficiencies within our ongoing customer due diligence reviews for business accounts.
Currently we have an account opening questionnaire completed that asks everything we would need to know about the business.

We then take that information and transfer it to a manually created excel worksheet that calculates a risk rating.

Then we have another excel workbook with tabs for Low, Moderate, High risk customers. We will place the account on the appropriate tab and identify the next review due date.

Low risk customers are not monitored regularly unless we receive an Alert from our BSA software, a referral from our staff or notice any other unusual activity with the customer. Moderate Risk customers are monitored every 12 months and High Risk customers every 6 months.

In our reviews we save the statements for the review period electronically and select a sample of Deposits/Checks to review, and also review the overall account activity.

We use our internal risk rating form to calculate the new risk and the process continues.

My questions are...

1. Are any of you willing to briefly discuss your process?
2. What are your time frames for Moderate and High risk customer reviews?


I appreciate any feedback

1. If you PM me I'd be happy to discuss.

2. Low Risk is 24 months, Moderate Risk is 18 months and High Risk is 12 months.

Overall monitoring is an ongoing process.

ACBbank I sent you a private message. Thank you so much :-)