Congratulations! You and your BSA staff have made it through 2023! Now it is time to start tackling your “To Do List” for 2024. One of the items on this list should be scheduling BSA/AML training for your Bank’s employees and Board of Directors.
Employee training should cover:
  • BSA regulatory requirements;
  • Supervisory guidance; and,
  • Bank’s internal BSA/AML policies, procedures, and processes tailored to everyone’s specific responsibilities, as appropriate.
The Board of Directors and senior management should receive foundational training and be informed of changes and new developments in the BSA, including:
  • Implementing regulations;
  • Federal banking agencies’ regulations; and,
  • Supervisory guidance.
While the Board of Directors may not require the same degree of training as banking operations personnel, the training should provide board members with sufficient understanding of the Bank’s risk profile and BSA regulatory requirements. Without a general understanding of the BSA, it is more difficult for the Board of Directors to provide adequate oversight of the BSA/AML compliance program, including approving the written BSA/AML compliance program, establishing appropriate independence for the BSA/AML compliance function, and providing sufficient BSA/AML resources.
So, are you tired of the same old online courses? Has your Board seen the same old PowerPoint presentation the last few years? Well, CCI can help you. We offer virtual or in-person training for your BSA needs. Let CCI help take a load off your plate this year.