AML Gap Analysis
Our AML Gap Analysis is a methodical and detailed examination of your institution’s BSA policies and procedures in line with the most current FFIEC BSA/AML Examination Manual. We begin with a review of the institution’s AML Risk Assessment to understand the make-up of the customer base, the geographic reach of the institution and its customers, and the products and
services offered, in order to construct a review plan which mirrors the composition of the customers, geography and products and
Services. In addition to the policies, procedures, and processes of your BSA/AML compliance program, we will also review:
♦ Internal Controls Documentation ♦
♦ Relationship of Corporate and Compliance Structure ♦
♦ Reporting Structure ♦
♦ Relevant Internal Control Systems (ICS) to Ensure Compliance ♦
In the end, our comprehensive report that will identify the areas of your AML program that are excelling and those that need improvement through our findings, observations, and recommendations. By conducting an AML gap analysis you are demonstrating your commitment to the institution’s management, the Board, and your regulators that you are proactively ensuring your compliance independently.
