Over the course of our 30 year history, PKM professionals have helped bank clients with everything from compliance to consulting. With respect to BSA/AML audits, PKM’s professionals have the tools, processes and manpower to review your programs, policies, training and procedures. The audit results will either give you confidence that your programs are adequate to withstand the scrutiny of the regulators or uncover holes that need corrective action before fines are imposed.
As part of our BSA/AML review, our experienced bank audit professionals work with you to provide an independent, objective assessment of your programs focusing on:
- bank policy related to BSA,
- Patriot Act and anti-money laundering regulations;
- training initiatives for employees and board members;
- documentation of new accounts;
- suspicious activity reporting procedures;
- and wire transfers.
PKM will examine your suspicious activity and currency transaction reports for accuracy and help you identify situations in which reports should have been filed with the appropriate regulatory agency. Our BSA/AML review also includes an evaluation of your risk assessment. We will also validate your software parameters to ensure you are using the software to its capacity and help you identify weaknesses in your software parameters. Finally, PKM’s BSA/AML review can help you evaluate and update your BSA, Patriot Act and Anti-Money Laundering compliance procedures.