BSA/AML Consulting Services
Our Peak Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) team will help you increase efficiency while maximizing the investment you have already made with your FCRM/AML Manager software. The Peak BSA/AML team is backed with over two decades of experience working in community banks and at Fiserv and holds the Certified Anti-Money Laundering Specialist (CAMS) industry accreditation. We offer a multitude of FCRM/AML Manager engagements, ranging from an FCRM AML/Manager Optimization Engagement to FCRM Business Analytics Training & Customization to Effective SAR Writing and Watch List Methodology creation. We provide insight from years of working with all different kinds of banks and know that what works for one bank might not work for you. See below for more details and know we are open to discussing any service you may need!
FCRM/AML Manager Optimization
We find that most clients are spending a lot of time reviewing unnecessary or redundant alerts each day, using older manual processes and need an understanding of how FCRM really works. Peak Consulting will work with you to review FCRM/AML Manager to explore process improvements and efficiency gains. We provide insight from years of working in and with financial institutions. Let Peak Consultants unlock those enhancements you have been dreaming of and evaluate your system configuration for maximum productivity. We can also provide a detailed summary of findings with a roadmap of where we think you should focus your energy.
FCRM/AML Manager Risk Rating Automation
Is your current risk rating process for customers and accounts causing you headaches from manual work and a compilation of Business Analytics Reports? Did you know FCRM/AML Manager can automate risk ratings with minimal manual intervention on your part? Peak Consulting will work with you to utilize the system as your inherent risk rating system and maximize your productivity. Using your bank’s risk assessment, transactional data, customer data and CDD/EDD data collected at account opening (or help you identify data to begin collecting), Peak consultants will guide you through a complete set-up and testing of customer and account risk ratings.
FCRM/AML Manager Business Analytics and Report Customization
Access to data from FCRM is an important component of bank-wide reporting, but we often find bank employees wished they knew more about how to use Business Analytics or how to create their own custom reports from the existing dashboard. We even find banks who do not know they have access to this amazing tool! Peak consultants bring a unique perspective to training and can adjust the FCRM Business Analytics training for different audiences. We also place a priority in helping you develop custom reports geared directly to your institution’s reporting needs, rather than a generic stock report that requires manual changes.
FCRM/AML Manager Optimization Engagement
We find that most clients are spending a lot of time reviewing unnecessary or redundant alerts each day, using older manual processes and need an understanding of how FCRM really works. Peak Consulting will work with you to review FCRM/AML Manager to explore process improvements and efficiency gains.
FCRM/AML Manager Alert Definition Optimization
When was the last time you reviewed your alert definitions and adjusted parameters or added new alerts? Possibly never! We will take a deep dive into the BSA/AML alerts available within FCRM/AML Manager (whether active or not) and help you determine the existing alerts to modify, new alerts to add and then how to best set parameters within your institution’s risk tolerance and productivity goals.
FCRM/AML Manager End User Training
Let’s face it, understanding all the ins and outs of FCRM/AML Manager from a user perspective can be overwhelming! Peak consultants bring a unique perspective to FCRM/AML Manager training and we know how to adjust for different audiences. We place a priority on helping you understand your system!
FCRM/AML Manager Business Analytics (BA) Training
Let’s face it, understanding all the ins and outs of the FCRM BA dashboard can be overwhelming! Peak consultants bring a unique perspective to BA training and we know how to adjust for different audiences. We place a priority on helping you understand your system!
FCRM/AML Manager Business Analytics (BA) Custom Reports
Are you struggling to work with the stock reports and not getting the information you need in a format that works for you? Do you still have to manually change existing reports before sending them out? Peak consultants can help you! We will review existing reports, implement improvements, and create custom reports for you based on specific reporting needs for your institution.
FCRM Risk Rating Automation
Did you know FCRM/AML Manager can automate risk ratings with minimal manual intervention on your part? Peak Consulting will work with you to utilize the system as your inherent risk rating system and maximize your productivity. Peak consultants will guide you through a complete set-up and testing of customer and account risk ratings.
FCRM/AML Manager Specification, Mapping and Job Process Review
When was the last time you reviewed your FCRM/AML Manager specifications, data mapping and jobs? Maybe when you implemented? We find that to be the case with many clients and would love to help you identify process improvements and an understanding of your system!
FCRM/AML Manager Watch List Optimization
Tired of reviewing 100’s of false positive alerts every time a watch list updates? Feeling like you don’t understand how the watch list process works? Let Peak Consulting bring some clarity to the situation and improve the alert output and staff productivity.
Below-the-Line and Watch List Testing
Have your auditors or examiners asked you to provide testing to prove out your alert and watch list parameters? No idea where or how to start or no time to get this done? Let Peak consultants assist you! We will strategize the best way to complete these – whether we do the work for you and leave you with a process in place or strategize with you on best practices for completion.
Watch List Methodology Creation
This is a new hot button in the BSA/AML regulatory industry and we find many clients are at a loss on where to start or have no time to complete this task. Peak consultants will work with you to identify all systems and parameters where watch lists are involved and will write a custom methodology document for your institution.
BSA/AML Risk Assessment/Policy/Procedure Review
Does your risk assessment and your policies/procedures match up to what your BSA/AML technology is monitoring? Your auditors will review these documents for compliance but may not fully understand the monitoring system. Let Peak Consultants help you ensure your technology is doing what your policies say, identify and help in mitigating gaps and offer best practice advice.
Effective Suspicious Activity Report (SAR) Narrative Writing
Understanding how to write an easy-to-read but impactful SAR is a critical component of BSA/AML regulations. A well-written narrative helps law enforcement and agencies determine how to act, but poorly written SARs have resulted in enforcement actions. Peak consultants will train your staff on best practices for SAR narratives.