We all know that there is a credit crunch going on and that the mantra of the day is safety and soundness. Senior banking management views safety and soundness as being the paramount concern. While recognizing that BSA compliance is not optional, the Corner Office has let BSA managers know that they must, nonetheless, reduce costs. Doing so without increasing risks is a tall order, but possible. The solution entails a re-assessment and re-engineering of BSA compliance workflows. Re-engineering not only transaction monitor and asociated AML system output, but also bringing tangible efficiency gains to the SAR alert assignment and investigation processes. It means identifying CDD and EDD practices where resources can be directed to most efficiently manage regulatory risks. By combining proven process engineering methods with expert AML legal counsel, ImpactAML can assist you to meet your mandate to cut expenses.....and do so without cutting corners!.

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