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Welcome to the Heritage Oaks Bank Risk Tab “Best Practices” Presented by Sara Smith BSA Specialist The webinar will begin shortly. Types of BSA/AML Reports. Account Structuring -Customer Reports Cashier’s Check Log -currently in Excel Wire Activity -Wire Workshop-export data to Excel
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Welcome to the Heritage Oaks Bank Risk Tab “Best Practices” Presented by Sara Smith BSA Specialist The webinar will begin shortly.
Types of BSA/AML Reports • Account Structuring-Customer Reports • Cashier’s Check Log-currently in Excel • Wire Activity-Wire Workshop-export data to Excel • Professional Service Providers-Customer Reports • Non-profit Accounts-Customer Reports • Micro ACH Debits-Customer Reports • Micro Transfers-Customer Reports
Types of BSA/AML Reports • Abnormally High Incoming & Outgoing Wires-Fraud & Check Kiting Workshop • Abnormally High ACH Credits & Debits-Fraud & Check Kiting Workshop • Abnormally High Transfers-Fraud & Check Kiting Workshop • Cash with Wires-Customer Reports
Types of Reviews 1) High Risk Client Review-reviewing the activity of our high risk clients 2) Watch List Review-reviewing the activity of clients within a particular watch list 3) Snapshot Summary-A client hits one of our other BSA/AML reports and we want to see a “snapshot” summary of their activity
Risk Rating vs. Watch List • Risk rating ranges from 1 through 5 • 1 is the default for all consumer accounts • 2 is for NRAs (higher risk consumers) • 3 is the default for all business accounts • 4 is high risk • 5 is very high risk • Watch lists include a variety of groups such as auto dealers, MSBs, cash intensive businesses, etc.
Risk Rating vs. Watch List • Annually, we conduct detailed reviews of activity for risk level “4” clients • Semi-annually, we conduct detailed reviews of activity for risk level “5” clients • Annually, we review the activity within certain watch lists to detect transactions that may be unusual or uncharacteristic to that watch list
High Risk Clients • If the client is on any of our BSA/AML reports • When the owners of a MSB have other businesses • If client has frequent foreign wires • When opening a new account, client indicates that they will be conducting large amounts of higher-risk activity (such as large amounts of cash or large wires)
High Risk Client Review • Conducted on high risk clients (level 4 and 5) • Obtaining data for the review:
High Risk Client Review The report lists all of the client’s activity for the time frame. We then format the data to our liking and subtotal each column based upon the transaction month.
High Risk Client Review The credits and debits are summed for each month and graphs are created in a new worksheet
High Risk Client Review Once the client’s activity has been reviewed, we will click the “Reviewed” button on the Risk Tab and assign a Next Review Date
High Risk Client Review The review date and date of next review is added to the activity log on the lower left hand side of the Risk Tab.
High Risk Client Review The client’s review is saved in an Excel spreadsheet that we upload to the Risk Tab.
High Risk Client Review Once the review is complete, we print the Risk Review Research Report and place it in their physical file.
Risk Review Research Report The Risk Review Research Report is a summary of the information contained within the Risk Tab.
High Risk Client Review & the Risk Tab • Risk Tab allows us to save everything related to the review of the high risk client in one spot • Risk Tab gives us a professional, easy to read report to put in their file to document the review
High Risk Client Review & the Risk Tab We can easily see when we a review is coming up by accessing either the Customers with Risk Review Dates or the Customers with Rick Rating Expiration Alerts report located in the Risk Management Workshop
Watch List Reviews • We use the Customer Layering reports to review activity within certain watch lists • Data yields top 25% of activity
Watch List Reviews Since the watch list reports are ran as a Custom>Customer report, once we have reviewed transactions, we right click on the client’s name and “set reviewed”
“Snapshot Review” • For when a client appears on one of our other BSA/AML reports • Client activity can be compared to that of other clients with the same NAICS code, watch list, or to the client’s historical activity • Helps us determine whether or not the activity may be considered suspicious or unusual
Thank you for attending today’s Heritage Oaks Bank Risk Tab “Best Practices” presented by Sara Smith Questions? Contact Sara Smith directly at 805.369.5292 or ssmith@heritageoaksbank.com
