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BSA RATING
We have carefully designed
a BSA Rating system to show at a glance various conditions and elements
related to BSA compliance. The purpose of this rating is to facilitate
baking department staff, IRS personnel, financial institutions and other
related parties the BSA condition of the company. A rating provides the
reader with a picture of the company’s BSA standing at a glance
prior to review the independent audit report. In a reduced and easy to
comprehend three section rating system we can show the company’s
compliance position. The BSA Rating together with the BSA Summary Report
provides a valuable tool of summarize information that helps analyze BSA
compliance.
The rating system is composed
of a) the financial condition; b) filing BSA reports, mainly CTR and SAR;
and c) recordkeeping, ID requirements for transactions of $3,000 and OFAC
compliance.
FINANCIAL FILING
RECORDKEEPING & CONDITION CTR & SAR OFAC
SG = Strong FT = Filed on
Time ID: 1 = IC In Compliance
SB = Stable ER = Errors Found 2 = NI Needs Imprmt.
UN = Unbalanced NF = Not Filed 3 = NC not in Compl.
- - = Blank Rating - - = Not Determined OFAC P = Pass
F = Fail
A final rating may read
as follows:
BSA
RATING: SB – FT – 1P
The above rating shows that
the company has a stable financial condition (SB); CTR and SAR report
were filed on time (FT); ID requirements are in compliance (1), and passed
OFAC test (P).
RISK FACTOR (Low
– Medium – High)
RISK CATEGORIES
Market Risk:
Operational Risk:
Legal Risk:
REPUTATION RISK:
INHERENT AML RISK
ADEQUACY OF RISK
MANAGEMENT:
Adequate policies, procedures,
internal controls and limits:
Adequate risk management
and monitoring of system and reports:
RISK TREND
In addition we provide transaction
data including averages and geographical risk. This AML Review format
has been carefully developed over the years to provide accurate and reliable
information. Our service is built on precise, well analyzed and trust
worthy information. Regulators, financial institutions and MSBs rely on
our Independent analysis and ratings to make important decisions.
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