background image

A Direct Line Blog

Fulfilling Your BSA Oversight Role

August 2, 2023 7:30 am

By Donya Parrish, MCU VP- Risk Management

Each year your whole board attends required Bank Secrecy Act (BSA) training in some format — with a speaker at a board meeting, a Zoom meeting, a pre-recorded webinar, or a session each board member watches individually. Whatever fits your preference and schedule, an updated option is now available for you.

A newly recorded Bank Secrecy Act Board Edition can be found on our Director Training Tools page. For your convenience, the 50-minute pre-recorded webinar and handout can be used as a full board or individually. Those viewing it at home or on their personal time should attest to the BSA Compliance Officer and/or CEO in an email that they have viewed it and also plan some time to discuss questions on the credit union’s program.

As a certified BSA compliance specialist, I strive to bring relevant information to you in the session without getting into too many details on how to comply. In your role as board members, you are required to have oversight and knowledge of your credit union’s BSA program and approve it annually. This recording focuses on that role and suggests information you should be seeing and asking about regularly.

Let me know if you have any questions or if you prefer to schedule a live BSA session during a board meeting. My goal is to help you be in compliance, so don’t hesitate to ask if I can help!

Comments are closed here.