BSA/Anti-Money Laundering Services

Each financial institution is unique. We bring a team that has been meticulously chosen to fit the needs of your institution.

"The Only Source of  Knowledge is Experience." -Albert Einstein

 

Beneficial Ownership

FinCEN has issued final rules under the Bank Secrecy Act to clarify and strengthen customer due diligence requirements for: Banks; brokers or dealers in securities; mutual funds; and futures commission merchants and introducing brokers in commodities. The rules contain explicit customer due diligence requirements and include a new requirement to identify and verify the identity of beneficial owners of legal entity.

The complexity of regulatory compliance and the higher stakes for failure, whether in the form of institutional penalties or personal liability, make the compliance officer’s job even more daunting. 

Let our team of experienced former FinCEN & Federal Regulators create a program that fits the needs or your institution while complying with Federal Regulatory expectations. Get it done right the first time!

Did you know Wyoming, Delaware and Nevada do not require proof of business ownership? Watch the video at the bottom of this page and find out how easy it is.

Project Management

One of the Key Differentiating Factors of Vanguard Strategic Resources is that our Project Managers and Team Leads are former Federal and State Bank Regulators and Banking Compliance Executives who not only have experience in regulatory examinations, consent orders and remediation, they truly understand the nuances of BSA and are able to share their valuable experience and knowledge with your board of directors, management and staff.

Risk Assessments

Our expert advisors can create risk assessments for your institution in the areas of BSA/AML, CIP, OFAC, and Credit risk.

BSA/AML Training

Being a Pillar of Compliance, Training has become a hot topic with State and Federal Regulators. With our decades of experience, we can develop a Training Program for your Institution, its Staff, Executive Management and Board of Directors.

Regulatory Orders

Consent Orders, Memorandum of Understanding and Cease & Desist Experts who have the experience to help your institution. Vanguard Strategic Resources has real bank experienced partners who have personally managed the lifting of joint State and Federal Cease & Desist Orders in BSA.

Regulatory Remediation Services

Our management team has designed and executed Remediation Programs designed to comply with BSA/AML Federal & State Consent Orders. We specialize in creating Corrective Action Plans (CAPS) for institutions across several departments designed to comply with Federal & State Consent Orders.

 

We have provided Project Management support to institutions under Regulatory Enforcement Actions in the area of BSA and Lending Compliance.

 

Remediation Services Include: 

  • Examination Plans

 

  • Transaction Testing

 

  • BSA/AML Risk Assessment 

 

  • Internal Controls Review

 

  • BSA/AML Training Program

 

  • CIP/CDD/EDD Onboarding Programs

 

  • Customer Verification

 

  • Enhanced Due Diligence for Higher-Risk Customers

 

  • SAR Quality Reviews

 

  • Alert Management

 

 

  • Special Due Diligence Program for Foreign Correspondent Accounts

 

  • Lending Compliance Programs

CIP/CDD/EDD PROGRAM REVIEW & ASSESSMENT

The fundamental building block of a Bank's Compliance Program and one of the most scrutinized areas by Regulatory Agencies.  We can develop a solution to your CIP Program needs. 

BSA/AML MONITORING SYSTEM IMPLEMENTATION & DATA VALIDATION

Suspicious activity monitoring and reporting are critical internal controls. Proper monitoring and reporting processes are essential to ensuring that your financial institution has an adequate and effective BSA compliance program required by regulation. We will ensure appropriate policies, procedures, and processes should be in place to monitor and identify unusual activity.

Our team members have experience implementing, testing, and validating BSA/AML software programs from both sides of the table.  Having been BSA Officers at financial institutions, they understand the nuances of transaction mapping and validation to ensure you get it right the first time.

MANAGEMENT & DIRECTOR ADVISORY

With increased Regulatory Scrutiny, Vanguard Strategic Resources can help your institution understand current regulatory issues and advise on proactive measures to assist the Bank in BSA & Compliance requirements.

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