By Howard Schneider

Various new regulatory consumer protection and lending regulatory requirements have community banks working hard to meet examiners’ corresponding new expectations. As if that wasn’t enough, however, some community banks are also feeling the pressure under safety and soundness exams to conduct deeper and wider ranging evaluations of dire scenarios that could negatively affect their loans, liquidity and capital portfolios. Most importantly, community bankers say they’re unsure how far and how broadly examiners expect their internal stress-test evaluations to go.

Is your community bank’s BSA/AML risk assessment complete?

By Adina Himes

Risk assessment is a familiar term in the banking industry. Bank management regularly performs risk assessments for information technology, safeguarding customer information and audit programs. However, the Federal Financial Institution Examination Council’s Bank Secrecy Act/Anti-Money Laundering Examination Manual provides guidance on developing a risk assessment for an institution’s BSA/AML program. So while assessing risk is not a new process for bank management, many banks struggle with developing a detailed and appropriate risk assessment for their BSA/AML program.

Bank Secrecy Act/anti-money laundering compliance is a permanent front-burner issue for community banks. Here’s how to avoid getting burned

By Howard Schneider

When it comes to compliance priorities, particular issues often cycle between hot and cold with regulators depending on the marketplace and political dynamics of the day. But without exception, Bank Secrecy Act and anti-money laundering compliance requirements are consistently hot topics, drawing close scrutiny from regulators during bank compliance exam reviews, community bankers and industry experts report.

By Judith Sears

In 2010, Jamie Rich, the compliance officer of Union Bank in Jamestown, Tenn., had an eye-opening experience: She was unable to locate a third-party contract that an FDIC examiner requested.

Not long after, a Union Bank internal audit reported that the $157 million-asset community bank had a number of incomplete contracts. Once is a coincidence, twice is a trend, Rich decided. New to the compliance role, she took charge, contacting heads of departments for contracts and combing through accounts payables records for other third-party contracts.