BSA / AML

Our BSA/AML practice services include independent testing (BSA/AML program audits) and automated AML system validations for all the major third-party systems. We also provide AML consulting services such as look-back projects, policy and risk assessment development, system parameter setting, and other professional advice.

AuditOne’s BSA subject matter professionals conduct more than 80 BSA audits and AML system validations each year. Our expert audit staff maintain related professional certifications including Certified Anti-Money Laundering Specialist (CAMS) and Certified BSA/AML Professional (CBAP).

Our BSA audit programs, reports and supporting workpapers are known for their clarity and completeness and are continuously updated. Reports provide clear descriptions of the completed tests, including sampling criteria (method, sample size, focal date/period, population size and characteristics). Based on a client’s risk profile, our audit program and workpapers are cleanly organized and provide clear mapping to the audit report.

Five Pillars of an Effective BSA Program

Our client scope of work is customized to cover all applicable products, services, customer types and geographies and to ensure compliance with the “Five Pillars” of an effective BSA Program, consisting of:

• A system of internal controls to ensure ongoing compliance
• Independent testing for compliance   
• Designation of a qualified individual responsible for coordinating and monitoring day-to-day compliance
• Training for appropriate personnel
• Appropriate risk-based procedures for conducting ongoing Customer Due Diligence (CDD) to understand the nature and purpose of customer relationships, to conduct ongoing monitoring to identify and report suspicious transactions, and on a risk-adjusted basis to maintain and update customer information.

Ryan McAbee, BSA Practice Director, has 20 years of experience in the banking industry, focused mainly on BSA and other regulatory compliance.  He has held BSA and Compliance Officer positions at two California community banks, where he had responsibility for the build-out of BSA programs and for the coordination of outsourced internal audit activities.  Ryan holds a BA in History from Fresno State University and a JD from San Joaquin College of Law.  He has attended both the ABA and CBA Schools of Compliance Management.  Ryan is a Certified Anti-Money Laundering Specialist (CAMS).