Client Challenge

The bank was preparing for an upcoming BSA regulatory examination and needed assistance in conducting an assessment of its program, the goal of which was to develop a work plan to address any weaknesses.

The Dominion Solution

Using our risk assessment process, we partnered with the bank to complete a review of the AML program, identifying areas of strength as well as those areas of the program needing improvement. We authored a corrective action plan, provided assistance to the bank in staffing and expertise to execute that plan and were able to demonstrate to the regulators that a meaningful enhancement effort was underway to improve self-identified program weaknesses. The regulators received the program positively and did not cite the bank for any major deficiencies.