BSA/AML/OFAC INTERNAL AUDIT: OUTSOURCED/ C0-SOURCED ORGANIZATIONAL RESILIENCE PROTECT WWW.MAZARS USA .COM Mazars USA LLP is an independent member firm of Mazars Group. ORGANIZATIONAL RESILIENCE PROTECT MAZARS USA LLP PROTECT GOVERNANCE, RISK AND COMPLIANCE Managing your control environment OUR APPROACH As regulatory agencies continue to place emphasis on independent testing, a key BSA/AML pillar, financial institutions must ensure their independent testing function possesses the requisite knowledge and expertise to detect terrorist financing, drug trafficking and other criminal activities. UNDERSTANDING YOUR CHALLENGES Financial institutions continue to face regulatory scrutiny to ensure their internal audit function is effective at assessing the organization’s control environment and identifying emerging BSA/AML and OFAC risks. Too frequently, recent enforcement actions have cited independent testing of BSA/AML and OFAC internal controls to be inadequate to satisfy regulatory requirements. Our BSA/AML and OFAC audit scope and procedures are customized as a by-product of your unique risk assessment. We focus on your specific risk profile and include best practices derived from industry-specific BSA/AML and OFAC audit programs that are updated for all applicable regulatory changes. Our BSA/AML and OFAC audits are performed in accordance OUR EXPERTISE Our proven BSA/AML and OFAC internal audit methodology has been designed and continuously updated over the years and includes a comprehensive audit manual, risk assessment process, audit programs, and audit standards. Our approach is hands-on, with our senior professionals actively involved in the audit process, including the audit planning and scoping phase, quality control reviews and discussions with management and the audit committee. We will take into account your internal audit risk assessment, personnel, processes, technology, and controls, and will customize our audit scope accordingly. We will also consider best practices and the impact of applicable regulatory changes on your risk profile. • Those promulgated by the Institute of Internal Auditors (IIA) • The Federal Financial Institutions Examination Council (FFIEC) Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) Examination Manual • The requirements specified by the FFIEC Interagency Guidance on Internal Audit Function and Outsourcing (FFIEC Guidance) We have extensive experience conducting BSA/AML and OFAC internal audits of domestic and foreign financial institutions. We have deep relations with regulatory agencies and meet regularly with management, audit committees, and board of directors to discuss key BSA/ AML and OFAC issues. Our BSA/AML and OFAC training program enables our professionals to keep abreast of significant changes to BSA/AML and OFAC regulations. PROTECT GOVERNANCE, RISK AND COMPLIANCE BANKING