AML Risk Assessment

Posted By: AquaMarine

AML Risk Assessment - 06/23/14 07:52 PM

I recently took a role as the bank's BSA Officer. I'm new to this role and currently in the process of learning as I go. In terms of AMLRA, is there a specific format/template the regulator and/or the IA prefers? I've never done this before and would like some insight from an external standpoint. Would be grateful if you're willing to share a sample of the assessment.

Thanks!
Posted By: ACBbank

Re: AML Risk Assessment - 06/23/14 09:20 PM

If you look at Appendix J of the FFIEC BSA/AML Exam Manual, you can get a very basic RA template. I would not recommend using it for your formal RA, unless your FI is clearly a Low Risk shop. That said, it's a strong starting point.