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Flagship Bank Minnesota

 
 
BSA Procedure for Identifying and Monitoring High Risk Accounts
Contributed by:CFO‚ Cash Management/Treasury Services
Asset size: Bank with under $250m
Location: Midwest
Description: Covers Identifying, classifying and monitoring accounts for BSA risk assessments

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MORE PEER CONTRIBUTED DOCUMENTS:

962 Documents 50 Answers 74 Exam Watches 73 Vendor Reviews

New Deposit and Loan Account Risk Assessment Matrix
Asset size: with under $250m
Description: These matrices are utilized during the new account process. They include many risk indicators and a scoring system to help identify high risk accounts. Additional worksheets and procedures for high risk accounts is under a separate offering in the same category. These matrices have been reviewed in many OTS and a recent OCC examination. Also see Risk Rating Procedures and Worksheets for ongoing monitoring of high risk accounts.
BSA On Site Business Inspection Form
Asset size: with under $250m
Description: The On-Site Business Inspection Form can be used by bankers who may be required to visit businesses considered high-risk under your bank's BSA procedures (e.g., MSBs). The form has fields to input such information as the Account Information and an Inspection Checklist, which includes several questions about the business.
High Risk Customer Review Checklist
Asset size: with under $250m
Description: 1 page High Risk Customer Review Checklist


RELATED QUESTIONS AND ANSWERS:
Q
Procedures for tellers to identify suspicious activity
Asked by: SVP,‚ Compliance/BSA/Legal
Asset size: Bank with
Location:OH

We recently had State Safety & Soundness Examiners at our institution and although our BSA procedures were acceptable, they suggested that we have seperate procedures specific to our tellers allowing them to better recognize suspicious transactions and the procedures they should follow. Does anyone have anything on this?
A
Answered by:SVP, ‚ Compliance/BSA/Legal
Asset size: Bank with between $250m - $500m
Location: TX

Anything strange or unusual can be suspicious. If it meets the strange or unusual test, i...
Q
BSA Software
Asked by: VP,‚ Audit
Asset size: Bank with
Location:TN

Can anyone recommend software for risk rating customers for BSA enhanced due diligence?
A
Answered by:SVP, ‚ Compliance/BSA/Legal
Asset size: Bank with under $250m
Location: OH

I too recommend BankersToolbox BAM. It risk-rates the customers by product, geography, t...


RELATED EXAM EXPERIENCES:
OTS - Compliance | March 2011
exam experience posted by a VP‚ Compliance/BSA/Legal from member with under $250m in assets
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NCUA - BSA/AML | December 2010
exam experience posted by a AVP‚ Compliance/BSA/Legal from member with over $1b in assets
All questions asked were within the scope of the exam and documents requested in advance.
FRB - BSA/AML | July 2012
exam experience posted by a VP‚ Compliance/BSA/Legal from member with under $250m in assets
The examiner asked to review the reports that we use for CTR & potential SAR monitoring. From these reports, the examnier asked for account statements on a selection of accounts, to do their own analysis for CTR reporting or potential SAR filings.

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