Strategic Gap Assessments: A Primer for Risk Managers

Author: Brian W. Vitale, CAMS-Audit

Risk Managers are tasked with a myriad of responsibilities; responsibilities rooted in regulatory requirements promulgated by their specific state or federal regulatory agency. Further, Risk Managers routinely immerse themselves in the tactical operations side of the business. Tactics sustain enterprise objectives for the common purpose of goal attainment. From a strictly BSA/AML risk perspective, goal attainment, driven by a number of internal and external factors, results in strategic positioning of the organization for risk mitigation purposes – in essence, it is the identified risk appetite of the organization.

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