Bank Secrecy Act (BSA) Audit Best Practices

Instructor: Gina Lowdermilk
Product ID: 702829
  • Duration: 60 Min

recorded version

1x Person - Unlimited viewing for 6 Months
(For multiple locations contact Customer Care)
Recorded Link and Ref. material will be available in My CO Section

Training CD

One CD is for usage in one location only.
(For multiple locations contact Customer Care)
CD and Ref. material will be shipped within 15 business days

Customer Care

Fax: +1-650-963-2556


Read Frequently Asked Questions

This BSA audit training will explain how the best practices in a BSA audit have evolved over the years. It will cover the major components of an effective BSA program that the audit focuses on and the specifics of each area as it pertains to BSA audits.

Why Should You Attend:

Although financial institutions have been managing BSA operations per the regulation requirements, the change in focus to BSA audits has been coming increasingly important. Regulators look to the Bank for assurance and evidence that BSA operations are being appropriately audited to ensure that BSA efforts are appropriately implemented and overseen.

This session highlights BSA audit best practices that are being acknowledged and recognized by regulators and examiners. In this webinar, we will discuss the areas that regulators and examiners are primarily focusing on in regards to BSA audits. The areas of focus outlined in this webinar are based on best industry practices and supervisory experience.

Areas Covered in the Webinar:

  • Implementing BSA audit best practices
  • Assessing policies and procedures
  • Comprehensive Risk Assessment
  • Review of monitoring programs
  • Determining effectiveness and thoroughness of training programs
  • Ensuring qualified employee oversight of daily BSA operations
  • Independent testing

Who Will Benefit:

The following personnel from banks and other financial institutions will benefit from this training:

  • Bank Secrecy Act / Anti-Money Laundering Officers
  • Internal Auditors
  • Staff with roles and responsibilities in BSA / AML management and oversight
  • Financial Officers
  • Front Line Staff
  • Risk Officers
  • Operational Managers

Instructor Profile:

Dr. Gina J. Lowdermilk, PhD (ABD), CAMS, CRMS, is a highly experienced and educated BSA/AML and Financial Regulatory Compliance professional with extensive policy and procedure development and implementation, training, internal audit, monitoring, risk management, and reporting experience. Her emphasis has been working with financial institutions that are experiencing regulatory concerns and resolutions, including enforcement actions such as memorandums of understanding and cease and desist orders. Her 15 years of experience has given her the opportunity to work from small community banks to large, international financial institutions. Her roles not only included BSA/AML and Compliance, but also operations, lending services, business development, marketing, management, department development, and asset quality. Ms. Lowdermilk has worked with all of the financial regulators and examiners. She possesses advanced Microsoft Excel, PowerPoint, Word, Internet Explorer, Visio, and Access skills. She also has experience with FiServ, BAM, CRA Wiz, TeamMate, COGNOS, and Metavante banking software. Gina has been responsible for creating both recurring and ad hoc executive management and board presentations. In addition to her above experience, she is also an adjunct instructor for the business and construction management programs at a local college, as well as writes numerous BSA/AML and Compliance articles, training materials, and manuals as requested from numerous clients.

Topic Background:

Financial institutions are required to be compliant with BSA rules and regulations. Such compliance needs to be well documented and consistent to ensure financial institutions avoid BSA violations and implications. Financial institutions’ BSA Programs must have adequate policies and procedures, comprehensive risk assessments, monitoring programs, training programs, qualified employees overseeing the BSA daily operations and independent testing programs. An effective BSA audit program will ensure that all these components are not only implemented but are appropriate, adequate and thorough to meet the BSA rules and regulations and the needs of the financial institution. Having a strong BSA audit program will ensure that financial institutions are proactive in preventing BSA violations occurring and implementing corrective action for BSA issues or implications that may be identified in the BSA program.

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