Which of the following measures can help maintain the independence of BSA/AML compliance staff to ensure effective compliance controls?

The correct answer is C. Providing BSA/AML compliance staff a reporting line to compliance or other second line of. BSA/AML compliance staff should report to the compliance function or another second line of defense internal control function to maintain independence from business line management, ensuring objective oversight and effective compliance controls.

AML/CFT Compliance Programs

Question

Options

AEstablishing BSA/AML compliance staff reporting to the management of the business line in the
BEnsuring BSA/AML compliance staff is primarily outsourced
CProviding BSA/AML compliance staff a reporting line to compliance or other second line of
DProviding BSA/AML compliance staff with a reporting line to the chief financial officer

How the community answered

(42 responses)

A
5% (2)
B
2% (1)
C
83% (35)
D
10% (4)

Explanation

BSA/AML compliance staff should report to the compliance function or another second line of defense internal control function to maintain independence from business line management, ensuring objective oversight and effective compliance controls.

Topics

#compliance independence#BSA/AML#reporting lines#second line of defense

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