Bank Secrecy Act/Anti-Money Laundering compliance reaches into virtually all corners of the financial services industry. The penalties resulting from non-compliance with these requirements are too high to be taken lightly. ADI’s BSA/AML Consulting Services are based on experience and demonstrated expertise. We deliver these services in a customized way to meet your needs. We offer a thoughtful approach based on a clear-eyed assessment of your situation and objectives. Then we design a plan of action and spell out the steps needed to reach your goals. Finally, we work with you to implement that plan.

 

Respond to Regulatory Directives With Confidence

Expanded U.S. financial regulations, including recently revamped terms under which the Office of the Comptroller of the Currency (OCC) will issue and enforce Matters Requiring Attention (MRAs), have led to increased scrutiny and enforcement efforts by the regulators. As a result, more and more banks and financial institutions have faced mandates for internal investigations and action, often within very tight deadlines. ADI helps clients develop and implement corrective action plans that support long-term compliance efforts and sound operational procedures in the context of these directives.

 

Add BSA/AML Compliance Expertise and Depth To Your Team

Engaging ADI to assist with your BSA/AML compliance needs is not simply hiring someone to work for you. It is engaging our compliance consultants to work with you. ADI brings years of experience and expertise to your team to help strengthen your BSA/AML compliance program and ensure future success. ADI provides comprehensive BSA/AML consulting, including compliance program assessment, policies and procedures, independent testing, look-back reviews and training.

 

Compliance Program Assessment

For many reasons, your organization can benefit from an independent risk assessment of its compliance program. ADI conducts the assessment you need and tells you whether you should be concerned and why. We also tell you what steps are needed to improve compliance and provide the resources for implementing its recommended actions.

 

BSA/AML Software Tuning

Transaction monitoring software implementation is one of the first steps in enhancing your AML suspicious activity monitoring program. But how will you assess whether initial parameters, thresholds, rules, and scenarios you’ve selected are appropriate or are generating too many false positive alerts?  Are you missing important data that would aid in your investigations, analysis, and risk scoring of your customers? ADI offers ongoing support with the implementation of AML transaction monitoring applications, as well as overall system assessment and software tuning services.

 

Policies and Procedures

For many reasons, your organization can benefit from an independent BSA/AML risk assessment as part of its compliance program. ADI conducts the assessment you need and tells you what you should be concerned about and why. We also tell you what steps are needed to improve compliance and provide the resources for implementing its recommended actions.

Your organization’s policies and procedures must meet two goals:

  • Stay current with changes in regulations, regulatory guidance, and industry experience, as well as with business processes, new markets and products, and new information systems.
  • Be accessible to and used by employees.

ADI assesses the current state of your policies and procedures, designs the enhancements you need for this critical part of your compliance program, and works with you to implement them.

 

Independent Testing

Helping to develop and institute an effective BSA/AML program is the first part of the challenge. Ensuring that that program meets its objectives year in and year out is the second part. ADI helps you meet your obligation to conduct annual independent testing of your BSA/AML program. We tailor an effective testing program to fit your organization, execute the testing in a constructive way, and document the results in a manner that promotes program improvement.

 

Look-Back Reviews

As part of the BSA/AML regulatory environment, examiners often require financial institutions to perform reviews of customer accounts and transactions over a defined historical time period. Frequently, these mandated look-backs must be performed by an independent third party. ADI defines a customized methodology to accomplish the task and conducts the reviews in an efficient way that enables your organization not only to comply with regulatory requirements but come away with meaningful results and a well-crafted compliance plan for moving forward.

 

Training

Every compliance program also needs effective employee training regarding BSA/AML. ADI provides customized training materials and delivers that training to your preference, on-site or online.