Compliance program assessment worksheet

Deficiencies that may warrant taking corrective action include, but are not limited to the following:. It is a sound practice for a casino or card club to periodically re-assess its BSA compliance program to assure sufficiency and effectiveness. See 31 C. Issued Date. Guidance Subject. Elements of a BSA Compliance Program A casino or card club is required to develop and implement a BSA compliance program that adequately addresses the risks posed by its products, services, customer base, and geographical location for the potential of money laundering and terrorist financing.

Criteria for Assessing a BSA Compliance Program A casino or card club may need to consider the following criteria, among others, when assessing its BSA compliance program: Management awareness and commitment to compliance; Comprehensiveness of policies, procedures, and internal controls and whether policies, procedures, and internal controls need updating; Level and frequency of training and whether training is appropriate for the business and compliance functions performed by personnel e.

Deficiencies that may warrant taking corrective action include, but are not limited to the following: Failure to implement a compliance program; A significant breakdown in internal controls or lack of adherence to policy, procedures and controls to assure compliance with the BSA; Inadequate testing, training, or other failures in an essential element of a BSA compliance program; Compliance program continues to be deficient or violations continue to occur after the institution becomes aware of problems; Failure to file SARCs when warranted: Failure to investigate potential suspicious activity, Failure to document reason for deciding not to file a SARC for activity initially identified as potentially suspicious, and Failure to include all relevant information in a SARC; Failure to file CTRCs; Filing of CTRCs that lack key information i.

Financial Institution. Convercent is a lot more than just GRC. We are on a mission to drive ethics to the center of business for a better world. Conducting A Compliance Risk Assessment.

Compliance risk assessments are easy with Convercent products that give you: Real-time reporting and dashboards show predictive analytics, progress, and hotspots at a glance Unparalleled access to integrated data from across your organization to help you steer policy proactively Automate COI forms for greater transparency and efficiency Integration of intake with case management to proactively manage employee behavior issues Inside our FSGO guide, available for download to the right, you can gain insight into the most commonly used framework for ethics and compliance program effectiveness.

Ensure effective compliance and defensibility for your organization. Download the Guide. Close video.