TOPIC: Best Practices


Manager at a credit_union ($3.6BUSA)
Hi, in the wake of the pandemic our BSA team is busier than ever. We've had a significant increase in alerts which is taking away time from other priorities such as SAR and CTR filings as well as 314  alerts.  There's been some discussion internally on how soon alerts need to be tended to while still understanding our regulatory requirement to file timely SARs. What have you done in this area to best maximize efficiencies and minimize burnout? 

    Commercial Appraisal/Evaluation Guidelines

    VP at a bank ($303MUSA)
    I am wondering if anyone would be willing to share their current Commercial Real Estate Appraisal/Evaluation Guidelines. I understand that this is more of a Loan Policy issue but we are just revising our current policies and are curious to know what others are doing both at new loan inception and also at renewal time. Thank you in advance for your willingness to share!  

      Flood Checklists & Determinations- OCC regulated Bank

      Employee at a bank ($3.7BUSA)
      Is there an OCC regulated bank willing to share your internal Flood review checklists & determination documents you use to ensure accuracy? I'm new to this position with an OCC regulated bank and their current process is very lengthy- they have 7 pages of checklists & determination documents to sign and fill out. I'm looking to reduce and automate these so any info you can share would be greatly appreciated. (This would be for commercial loans only, not personal/MTG) 
      In addition, I'm curious to know if it is a regulatory requirement that a borrower has to sign a "borrowers certification of detached structure" or just best practice? 
      Thank you in advance.   

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          Government Entity Accounts

          Manager at a credit_union ($732MUSA)
          We are considering opening accounts for government entities. Currently, we only open accounts for natural persons, non-profit organizations and sole proprietorship DBAs. Does anyone open accounts for government entities and would you be willing to share your procedures? Also, what compliance requirements and risk considerations should we be aware of? Thank you!