Financial Institutions Blog

New BSA/AML Self-Assessment Tool

The Conference of State Bank Supervisors (CSBS) issued a voluntary tool to help financial institutions manage Bank Secrecy Act/Anti-Money Laundering (BSA/AML) risk. The tool is designed to help financial institutions self-evaluate for BSA/AML risk and reduce the regulatory burden of BSA/AML requirements.  One of the goals in releasing the tool is to promote a more consistent framework for assessing and communicating BSA/AML risk.  The tool is not intended to replace any other aspect of a financial institution’s BSA/AML program.  The tool comes with instructions and a narrated tutorial.

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John Zasada is a principal with CLA and leads the firm’s financial institution regulatory compliance practice. He assists financial institutions nationwide in establishing regulatory compliance programs, conducting compliance testing, training staff on regulations, and performing website compliance assessments. In addition, John is a frequent speaker at industry conferences and state associations. Prior to joining CLA, he served as managing director at a top-10 accounting firm and as the compliance officer of a large financial institution, where he developed and implemented its first regulatory compliance program.

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