BSA Officer Part 2: BSA Reporting to the Board

Strong board oversight begins with strong BSA reporting — ensure your board has the insights it needs to lead with confidence. Ultimate responsibility for your BSA program rests with the board, but directors depend on the information shared by the BSA Officer to make effective risk-based decisions. This session will provide detailed guidance on BSA reporting to the board, including training content, reporting frequency, and critical information directors need to evaluate program effectiveness. Learn how to enhance communication, target high-risk areas, and align reporting with regulatory expectations.

KEY WEBINAR TAKEAWAYS

• Helping directors meet their BSA responsibilities
• Explaining to the board your institution’s current BSA/AML/CFT risks and the impact of pending BSA regulation and changes
• Developing a comprehensive ongoing BSA training program for the board
• Using provided templates and information to create detailed board reports
• Key details examiners will be looking for in your board reporting, including the required notification of SAR filings

BONUS MATERIALS

• Sample quarterly BSA board report
• New and pending rules and regulation tracking
• Audit/exam finding tracking log

WEBINAR DETAILS

Ultimate responsibility for your BSA program rests with the board. However, since directors aren’t there to oversee day-to-day operations, they must rely on the information provided by the BSA Officer and management to make the strategic, risk-based decisions needed to keep your institution in compliance and avoid costly incidents of fraud. What’s more, recent BSA enforcement actions have cited lack of board and management oversight as a significant violation.

Communication with the board starts with effective initial and ongoing training and continues with periodic reporting to keep directors informed of not only your BSA program, but the ever-changing regulatory environment. In this session we will discuss appropriate training content as well as the frequency and type of reporting most needed by the board. We will highlight details directors need most to support their decision-making and enhance their understanding of your institution’s BSA/AML risks. We will also address the current BSA hot buttons they need to be aware of to ensure your institution has implemented appropriate controls and dedicated resources to the areas of highest risk.