Banks must maintain comprehensive Bank Secrecy Act / Anti-Money Laundering (BSA/AML) programs to detect and prevent illicit financial activity. Programs should be optimized to minimize reliance on manual processes, ensure monitoring systems are configured correctly, and provide meaningful data for suspicious activity reporting. Non-optimized programs create operational inefficiencies, increase the risk of human error, can generate excessive false positives, and fail to detect truly suspicious activity. Conversely, an optimized BSA/AML program ensures regulatory compliance while enhancing operational efficiency and enabling better risk management.

Asurity Advisors leveraged industry expertise, extensive knowledge of BSA/AML laws and regulations, and significant experience working with community banks to evaluate the bank’s program and identify areas where significant efficiencies could be gained.

Asurity reviewed policies, procedures, monitoring system parameters, and reporting mechanisms to identify manual processes and determine if enhancements for efficiency could be implemented. Upon completion of the review, all manual processes were documented and necessary monitoring system parameter updates identified. Asurity provided recommendations for enhancements that would create significant efficiencies for the bank. Further, Asurity identified the level of effort needed for each recommendation and prioritized them in a manner that would allow the bank to achieve both immediate and long-term results. Upon completion of the engagement, Asurity provided the client with a list of potential enhancements along with a process map detailing a 30-, 60-, and 90-day plan for implementation.