AML Program
AP-05Report program performance to the board quarterly and to the sponsor bank
How Leela would run itQuarterly · board report within 30 days of quarter close; sponsor bank report on the agreed cadence
From the policy libraryThe requirement
The AML Compliance Officer delivers a compliance report to the board, or its designated committee, at least quarterly and within 30 days of quarter close, covering program performance, material issues, test findings and remediation status, training completion, regulatory developments, and open items with the sponsor bank. The board reviews the report, acts on the material issues it raises, and its review is minuted. The Company also provides the sponsor bank with periodic compliance reports carrying the program metrics the bank specifies, on the cadence and in the format agreed at launch and no less than quarterly.
- Applies
- Tell Leela about your company to see whether this applies.
- Status
- Setup needed
Tell Leela how you handle it today, or hand it over: see what’s next.
The work
Pull the quarter’s metrics, draft the board package and the bank report, deliver each before its deadline, and file the minutes and the bank’s receipt.
What Leela keepsThe evidence this obligation leaves, as the work happens
Listed from the policy libraryContents
- 01Board compliance reportQuarterly package with the date delivered and the minutes of the review
- 02Sponsor bank compliance reportMetrics report in the agreed format, with the date sent
Evidence
Board compliance report
AML Program §7.4, §8.3
2
of 2 records
The work and the records come from this obligation in the policy library.