For employees new to banking, the idea of BSA/AML/CFT and the need to have a robust program devoted specifically to it can be a foreign concept. They might be hesitant to ask a customer all kinds of questions for fear of invading their privacy. Even if an individual isn’t new to banking but is new to your institution, there’s still a learning curve. No two institutions are the same which means their overall risk profiles and policies/procedures will likely differ. Training is the key to a deeper understanding of why you do what you do and will ultimately help with employee buy-in. While the BSA officer and/or management are often tasked with “doing” the BSA/AML/CFT risk assessment, it’s helpful for new employees to have a basic understanding of the process and how the risk assessment needs to dictate your policies and procedures.
Kevin explains more in the video.
Published
2025/05/23
