There is an important correlation between the areas covered by a BSA/AML examination and an institution’s overall risk management and internal controls. Thus, bank examiners take into account an organization’s enterprise-wide corporate governance mechanisms and how they are applied.
The regional Bank presidents fill a critical role at the Fed’s policy table. They have the responsibility of representing their respective Federal Reserve Districts in providing their unique perspective on national policy issues. As dictated by the FOMC’s structure, Washington and Wall Street not only participate in all discussions but have a permanent vote.