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BSA Exam Manual Update: Identifying & Mitigating BSA Risks

Mar 02 2:00 PM - Mar 02, 2022 3:30 PM
Mar 02, 2022 2:00 PM - 3:30 PM
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Do you know about the BSA update trifecta? There were three updates to the BSA exam manual in 2021. Do those additions to the already hefty set of BSA regulations leave you wanting for answers? This is the update you need to ensure your program is compliant and will pass the next exam.

Learning Objectives

  • Understand the factors to effectively identify high-risk customers
  • Use the updates to predict expected risk-mitigation steps
  • Anticipate examiner expectations in three new subsections for “Examiner Evaluation”
  • Determine if your BSA/AML program meets the standards for customer risk profiles
  • Evaluate procedures for monitoring independent ATM owners

The BSA exam manual was updated three times in 2021, most recently on December 1, 2021. While the FFIEC press release said the updates are not “new” requirements, they provide critical insight into the priorities for BSA exams. Is your BSA/AML program adequate and will it pass the next exam?

The December 1st update added a new introductory section. Additional changes were made to:

  • Charities and Nonprofit Organizations
  • Independent Automated Teller Machine Owners or Operators
  • Politically Exposed Persons (PEPs)



Susan Costonis, Compliance Training and Consulting for Financial Institutions
Susan Costonis is a compliance consultant and trainer who began her career in 1978. She specializes in compliance management along with deposit and lending regulatory training. Susan has successfully managed compliance programs and exams for institutions that ranged from a community bank to large multi-state bank holding companies. She has been a compliance officer for institutions supervised by the OCC, FDIC, and Federal Reserve. Susan has been a Certified Regulatory Compliance Manager since 1998, completed the ABA Graduate Compliance School, and graduated from the University of Akron and the Graduate Banking School of the University of Colorado. She regularly presents to financial institution audiences in several states and “translates” complex regulations into simple concepts by using humor and real-life examples.




Additional Info

Event Type

On-Demand Webinar

Topics Covered

  • On-Demand Webinars
  • Fraud, Security & Technology
  • Executive Management
  • Compliance