If you have employees that are new to BSA compliance or even banking in general, the concept of a customer risk profile might be a bit of a foreign concept. This is why it is important for new employees to be trained on BSA/AML within a reasonable time of their hire. While their first taste of BSA will likely be directly related to their day-to-day tasks, but eventually, they will need to understand the idea behind knowing your customer and how that helps you develop a customer risk profile which then ultimately helps you detect suspicious activity. Employees need an understanding that developing a customer risk profile is an ongoing process and as they learn things about your customers, where the information should go.
Kevin explains more in the video.
Published
2024/05/22
