RDK & Associates, Inc. performs Bank Secrecy Act and Anti-Money Laundering audits in accordance with the procedures outlined in the Federal Financial Institutions Examinations Council’s BSA/AML Examination Manual. The BSA/AML audits performed by RDK include comprehensive review and testing of the bank’s BSA/AML compliance program, including, but not limited to:
- The overall integrity and effectiveness of the BSA/AML compliance program, including policies, procedures, and processes.
- BSA/AML risk assessment.
- BSA reporting and recordkeeping requirements.
- Customer Identification Program (CIP) implementation.
- The adequacy of CDD policies, procedures, and processes and whether they comply with internal requirements.
- Personnel adherence to the bank’s BSA/AML policies, procedures, and processes.
- Appropriate transaction testing, with particular emphasis on high-risk operations (products, service, customers, and geographic locations).
- Training adequacy, including its comprehensiveness, accuracy of materials, the training schedule, and attendance tracking.
- The integrity and accuracy of management information systems (MIS) used in the BSA/AML compliance program.
- The adequacy of the bank’s policies and procedures for identifying and reporting suspicious activity.
- Board reporting and supervision of, and its responsiveness to, audit findings.
- Policies, procedures and processes regarding Information Sharing
- OFAC compliance, including policies, procedures and processes.
