NAFCU’s BSA/Anti-Money Laundering: Internal Audit and Risk Management

The guidance you need to help your credit union comply with the August 24, 2007 regulatory release of the BSA/AML Examination Manual

Authors: Jeffrey Torp and Lorraine Hyde
Format: 3-Ring Binder with CD
Frequency of Update: 2 updates annually
Price: $525
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Sheshunoff has joined with NAFCU to produce NAFCU’s BSA/Anti-Money Laundering: Internal Audit and Risk Management manual. This comprehensive resource, designed specifically for credit unions, examines the examination guidelines and interprets them for you, providing specific actions to ensure that all of your policies, procedures, and processes are risk-based. The manual focuses on the issues on which examiners will be concentrating, so you can be sure that your credit union is well prepared for your next examination.

Establish and implement risk-based policies, procedures and processes to comply with BSA/AML requirements

NAFCU’s BSA/Anti-Money Laundering: Internal Audit and Risk Management manual will give you the guidance and tools you need to help your credit union:

Comply with the August 24, 2007 regulatory release of the Bank Secrecy Act/Anti-Money Laundering Examination Manual
Focus on risk management and audit requirements emphasized in the new regulatory release
Ensure that all of your credit union’s BSA/AML policies and procedures are based on assessing its specific risks
Prepare for your next BSA/AML examination

Sections include an overview, the risk factors and recommended procedures to mitigate risks, sample risk grids, an audit program, and audit checklists.

This up-to-date resource includes information on the latest topics including: remote deposit capture, enterprise-wide risk assessments, electronic banking and new BSA issues, smart cards, recent enforcement actions, red flags for money laundering, customer due diligence and providing banking services to money service businesses.

About the Authors

Jeffrey Torp is a consultant in the area of regulatory risk for financial institutions with more than 25 years of experience serving financial institution clients. Mr. Torp is an attorney and has previously served as a consultant with KPMG and with McGladrey & Pullen, LLP. He received his law degree from William Mitchell College of Law in St. Paul, Minnesota, and his Bachelor of Arts Degree from Augsburg College in Minneapolis, Minnesota. Mr. Torp has worked with financial institutions throughout the country on regulatory issues and has given numerous presentations on regulatory topics to groups of bankers, bank examiners, trade associations, and attorneys.

Lorraine Hyde is a certified compliance officer and is also certified as a fraud examiner by the Association of Certified Fraud Examiners. Ms. Hyde was employed for six years as a department head of investigation for the Division of Liquidation of the Federal Deposit Insurance Corporation. Ms. Hyde was also employed as the compliance officer, consumer loan training coordinator, and manager of consumer lending for a major Twin City thrift. Ms. Hyde’s expertise is in consumer, home equity, and small business lending; loan review and analysis; and bank fraud investigations for the Federal Deposit Insurance Corporation (FDIC) and Resolution Trust Corporation (RTC). She currently resides in Phoenix, Arizona.