BSA Officer/Team Responsibilities
Be sure to JOIN US on March 10, 2020, for our webinar, “Bank Secrecy Act Officer/Team Responsibilities”.
Click on the video to listen to Kevin explain what this webinar is all about and why you need to attend.
As always, we will answer all questions asked during the webinar in writing. Here’s a sample:
Question: Would you give any thoughts and/or recommendations on having an individual versus committee responsible for SAR decision-making?
Answer: Suspicious activity reporting is a cornerstone of a BSA program. That said, there isn’t a set method when it comes to SAR decision making. Actually, either of these can work. While your BSA Officer likely has the most knowledge on the BSA regulatory requirements, input from other areas of your bank and/or other member of your BSA Team is almost always necessary to try and determine whether certain activity is suspicious. A committee comprised of individuals from different areas of the bank automatically builds that input into your decision-making process, but you need to ensure that everyone on the committee understands BSA, specifically SAR reporting requirements.
Other Upcoming BSA/AML Webinars:
March 12th – BSA for Tellers and Customer Service Representatives
March 31st – BSA: Just for Operations
April 2nd – BSA for Lenders
Published
2020/02/27
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Kevin Edwards
Kevin brings years of experience and a unique perspective on regulatory matters to our clients. A self-proclaimed geek and accredited CRCM, Kevin is also a recovering attorney with experience as in-house counsel for a large regional bank and one of the leading national title insurance providers. For reasons unknown, Kevin decided to leave the safety and serenity of his desk job to seek fortune and glory as a wandering adventurer. Like a bank compliance version of Kwai Chang Caine, The Man with No Name or Don Quixote, he now travels the land seeking to help those in need and righting compliance wrongs, wherever he may find them. Kevin lives in Sioux Falls with his two children, who are surprisingly normal after having endured their father’s vivid imagination for their entire lives. He won’t admit to having any hobbies, because apparently “Regulations never sleep.” (While he does say this in his Batman voice, we’re pretty sure he’s joking.) From the looks of his Facebook page, he likes the outdoors and spending time with his large extended family (who seem like relatively normal people).