Risk Assessment Form

Forms and Documents

Document	Type	Status	Availability
Risk Assessment Form	Form	Modified	Available
1557-0231 Comment Response Final.doc	Supplementary Document	Uploaded 2007-12-03	Available
1557-0231.doc	Supporting Statement A	Uploaded 2007-12-03	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
20141	Risk Assessment Form	Form	Modified

ICR Details

OMB Control No: 1557-0231	ICR Reference No: 200704-1557-002
Status: Historical Active	Previous ICR Reference No: 200512-1557-001
Agency/Subagency: TREAS/OCC	Agency Tracking No:
Title: Risk Assessment Form
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 02/01/2008
	Date Received in OIRA: 12/20/2007
Terms of Clearance: Since the change in burden is “due to a reduction in the number of OCC community banks and the elimination of the burden calculation estimates for mid-sized and large banks,” OMB has reclassified it as an adjustment. OMB has also eliminated the cost burden, which was an improper monetization of the hour burden.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2010	24 Months From Approved	01/31/2008
Responses	1,670	0	2,042
Time Burden (Hours)	10,020	0	21,364
Cost Burden (Dollars)	0	0	1,282,000

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Abstract: The MLR enhances the ability of examiners and bank management to identify and evaluate any Bank Secrecy Act/Anti-Money Laundering risks associated with the banks' products, services, customers, and locations. As new products and services are introduced, existing products and services change, and the banks expand through mergers and acquisitions, management's evaluation of money laundering and terrorist financing risks must evolve as well. Absent appropriate controls, such as this risk assessment, these lines of business, products, or entities could elevate Bank Secrecy/Anti-Money Laundering risks.

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Authorizing Statute(s): US Code: 12 USC 93a Name of Law: National Bank Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	72 FR 44920	08/09/2007
30-day Notice:	Federal Register Citation:	Citation Date:
	72 FR 72442	12/20/2007
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Risk Assessment Form	N/A	BSA/AML Quantity of Risk Summary Form

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	1,670	2,042	0	0	-372	0
Annual Time Burden (Hours)	10,020	21,364	0	0	-11,344	0
Annual Cost Burden (Dollars)	0	1,282,000	0	0	-1,282,000	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The change in burden is due to a reduction in the number of OCC community banks and the elimination of the burden calculation estimates for mid-sized and large banks. Although included in prior burden estimates, mid-size and large banks were never included within MLR collections.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 12/20/2007

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