While the Board of Directors is not involved in the day-to-day administration of an institution’s BSA/AML/CFT program, they still play a vitally important role. The Board is to provide oversight and is primarily responsible for ensuring the institution maintains a comprehensive, effective and risk-based program. For instance, they must approve a written policy, designate a competent BSA officer and ensure that resources are allocated appropriately. The Board’s efforts; however, are only as good as the information provided to them. They need a good working relationship with the BSA Officer.
Kevin explains more in the video.
Published 2026/11/05