How to Manage an Effective AML Audit Program
This webinar will highlight the techniques and best practices that can be used for conducting an
effective AML audit in order to ensure compliance with Bank Secrecy Act (BSA) regulations.
Why Should You Attend:
Financial institutions are continually evolving their systems and processes, and some continue
to be challenged by risks associated with conducting an inadequate audit. Recent actions have
brought forth regulatory criticisms for inadequate scoping and testing of audits. With more
scrutiny placed on internal audit to have deep expertise in BSA/AML, many financial institutions
are turning to external resources to supplement subject matter expertise.
This webinar highlights the techniques and best practices for conducting an effective AML audit
or independent test as required under the rules promulgated by the Bank Secrecy Act. AML
compliance program rules require financial institutions to conduct an independent test to
assess the adequacy and effectiveness of the program. A good test will identify any weaknesses
and serve as a last line of defense against criminals, ensuring that the program controls are
doing what they were designed to do.
The effective AML audit program will consider implementation of a risk-based approach, a
thoughtful audit scope and plan, and a well-written report memorializing the findings and
recommendations to improve the program. This training will look at the practicality of these
elements and the implementation factors with each of them.
Areas Covered in the Webinar:
Risk-based approach to the audit
Key elements of a well-planned audit
Sound techniques for testing
Each of the key areas are examined
o Audit scoping and planning
o Fieldwork and testing
o Memorializing and communicating outcomes
o Managing corrective actions
Who will Benefit:
BSA/AML Compliance Officer
Chief Compliance Officers
Operational Risk Managers