BSA/AML COMPLIANCE SERVICES

Comprehensive Services. Clearly Defined Costs.

Because of the onerous nature of the regulatory provisions governing AML compliance and the manner in which they are applied broadly by the regulators, K Financial believes that each institution needs to evaluate its AML requirements carefully and implement its AML programs in a manner that best fits that organization.  In order to be truly effective, an AML program should be a reflection of an organization’s customer base, demographics, products and services, geography, regulatory history, risk profile, and overall corporate culture.  K Financial’s AML professionals support this type of highly customized approach to AML compliance.

K Financial is an active member of the Association of Certified Anti-Money Laundering Specialists.

BSA/AML Compliance Program Consulting

K Financial assists its clients by helping them define the policies, standards, roles, and responsibilities necessary to implement an effective AML program.  K Financial can also evaluate revisions or alternatives to an institution’s existing AML program and its components.  Additionally, K Financial professionals can support the compliance function by conducting an independent risk assessment that identifies the institution’s most significant regulatory risks.

Independent Audits and Assessments of BSA/AML Programs

Banks and other financial institutions, regardless of size, are required to have regular comprehensive BSA/AML compliance audits that are fully documented and conducted by qualified parties who are independent of the institution’s business lines and compliance function.  K Financial provides such independent audits of BSA/AML programs.  Our professionals can also provide support to a financial institution’s existing audit function.  K Financial conducts assessments, or pre-exam reviews, of AML compliance programs in the context of a pending merger or regulatory examination, thus enhancing senior management’s knowledge and confidence during such situations.

Suspicious Activity Investigations and Reporting

K Financial’s investigative professionals assist clients in taking affirmative steps to avoid or, when required, address regulatory findings. K Financial’s involvement in an investigation facilitates a coordinated review and inquiry into a specific situation that poses a risk or has been identified as a potential risk. K Financial is able to apply extensive experience and a worldwide network of information sources to adeptly manage any investigative situation. K Financial also assists banks and other financial institutions in the preparation of suspicious activity reports.

Responding to Regulatory Directives or Enforcement Events

Even the most thoughtfully conceived AML program cannot prevent all illicit money from entering an organization.  In addition, expanded U.S. financial regulations have led to increased scrutiny and enforcement efforts by the regulators.  As a result, more and more banks and other financial institutions have been faced with cease and desist orders that mandate intensive internal investigations within very tight deadlines.  K Financial assists banks and other financial institutions in negotiating regulatory agreements and in developing and implementing corrective action plans that support long-term compliance efforts and sound operational procedures in the context of a regulatory directive or enforcement action.