The BSA / AML / OFAC Compliance Officer is responsible for developing, implementing and administering all aspects of the Bank Secrecy Act Compliance Program, and for assuring that the bank is in compliance with the Bank Secrecy Act, USA Patriot Act, OFAC, and all other applicable laws.
Currency Transaction Reports and Bank Secrecy Act began in 1970. While the basic premise has remained the same, the amount of bureaus and regulations has reached staggering proportions. The BSA exam manual is now 442 pages. The Treasury Department has designated FinCEN, Financial Crimes Enforcement Network, to oversee the Bank Secrecy Act. Civil Monetary Penalties for non compliance from thousands to millions of dollars continue to make headlines. Willful disobedience can be blamed on the board of directors down to the compliance department.
- Learn how the five pillars of BSA need to be implemented with appropriate policies and procedures to effectively manage compliance within the laws.
- Learn about the latest updates to CDD Rules on beneficial owners
- Learn different agendas to train the board of directors, lenders, loan processors, customer service, tellers and other front-line staff.
- Learn about monitoring for and completing currency transaction reports.
- Learn about monitoring for and completing suspicious activity reports.
- Learn how to bank money service businesses that they and your bank will appreciate.
- Learn how the roles of FinCEN, OFAC and the USA Patriot Act impact your institution.
- Learn how to think like a crook so you develop that "gut feeling".
Areas Covered in the Seminar:
- 5 Pillars of BSA/AML Program
- Board Training and Job Specific Training
- Case Studies
- New faces of Money Laundering
- Currency Transaction Reports
- Suspicious Activity Reports
- Money Service Businesses
- USA Patriot Act
- Beneficial Owners and Updated Customer Identification Program
- Risk Based Procedures and Customer Due Diligence
- Enhanced Due Diligence
Who will Benefit:
- Bank Compliance Officers and Assistants
- Bank Secrecy Act Officers and Assistants
- Bank Secrecy Act Analysts
- Credit Union Compliance Officers
- Internal Auditors
- Staff with BSA/AML oversight responsibilities
- Risk Managers
Field of Study:
- Auditing: 2.4 CPE Credits
- Business Management & Organization: 4.8 CPE Credits
- Regulatory Ethics: 9.3 CPE Credits
- Total CPE credits earned in this workshop: 16.5 CPE Credits
Program Delivery Method: Group-Live
Program Level: Intermediate
Advance Preparation/Program Prerequisites: None
For Registration :