Our BSA/AML/OFAC Assessment is a unique service provided by The Morley Group. The Assessment is designed to bring financial institutions into total compliance with the new FFIEC Bank Secrecy Act Anti-Money Laundering Examination Manual requirements. With this service, we assess the financial institution's compliance with each requirement pertaining to the financial institution's market/service mix. Our Assessment Report is a comprehensive presentation of the financial institution's compliance. Each requirement is fully documented in the report to provide examiners (and the financial institution) with evidence of compliance. The Assessment Report is specifically designed to be presented to the financial institution's independent auditors and examiners. Our clients view these services as an investment that could materially enhance their bottom line.

With our BSA/AML/OFAC Assessment service, financial institutions pre-examination work should be substantially reduced. Upon receipt of the examiners' pre-engagement letter, the financial institution can provide the examiners with the Assessment Report. The Report should answer many of the pre-examination questions and provide the examiners with substantial documentation. We believe our retention for these assignments is indicative of The Morley Group's credibility with the regulators.

While the Assessment is not designed to test transactions, it nonetheless functions as a comprehensive review of the financial institution's BSA/AML/OFAC system. Should the Assessment identify areas of weakness or non-compliance, the Report will so indicate; but more importantly, the Report will set forth a recommended work-plan to remedy each weakness or deficiency.

The BSA/AML/OFAC Assessment does not replace the transaction testing function of independent audits or examinations; however, it should significantly reduce the time involved in the audit/examination process, as it addresses all audit/examination requirements except the transaction testing function. In addition, the Assessment will provide the financial institution with a significant comfort level that audit and examination findings will be favorable.