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About
The Seminar:
Is
your Bank ready for the new Bank Secrecy Act rules and regulations?
Effective May 11, 2018 financial institutions are required to identify
"beneficial owners" of legal entity customers at time of account opening
and to ensure the information is accurate on an ongoing basis. The new
guidance has many bankers scratching their heads as there appears to be
more unanswered questions than clarity. Attend our BSA Seminar in October
to learn practical solutions and a timely analysis of the new BSA
requirements.
GET
ANSWERS TO YOUR QUESTIONS AS KEITH PROVIDES WORKING EXAMPLES AND PRACTICAL
SOLUTIONS TO THE NEW BENEFICIAL OWNERSHIP RULES! IN ADDITION, NETWORK WITH
YOUR COLLEAGUES IN THE INDUSTRY TO COMPARE AND SHARE!
This
one-day seminar covers all key elements of BSA compliance programs for
non-complex community banks with community bankers in mind to take the
guess work out of regulatory expectations. Attending this seminar will
enable you to: Identify proper high risk customers, products, and services;
Recognize common pitfalls and problem areas; Avoid common violations at an
examination and meet your annual training requirement.
What
constitutes an adequate BSA Compliance program and when do regulators use enforcement
actions?
New
BSA developments, including new regulatory updates:
- Downsides of de-risking
customers
- Some tools for analyzing
information related to virtual currencies
- How to proactively
anticipate changes in criminal behavior as activity evolves
Why
is a risk assessment important and how should I keep it updated?
Review
key Anti-Money Laundering regulatory changes and updates:
- New beneficial ownership
due diligence rules
- Suspicious Activity Reports
–new problem area, including elder abuse
Understand
requirements and avoid common problem areas of:
- Currency Transaction
Reports and exemptions
- Suspicious Activity Reports
– new problem areas, including elder abuse and mortgage fraud, plus
confidentiality rules
- Customer and Enhanced Due
Diligence
- Monetary Instruments
- Funds Transfer
Recordkeeping
OFFICE
OF FOREIGN ASSET CONTROLS (OFAC)
What
constitutes an adequate OFAC compliance program and what will the examiners
review? Sanctions programs, requirements, lists, and screening Avoid common
problem areas and OFAC penalties
USA
PATRIOT ACT (Customer Identification Program)
Identification
and verification requirements Learn how to properly handle law enforcement
search request Understand Customer Identification Program (CIP) pitfalls
Avoid common problem areas and common violations
BRING
YOUR BANK'S BSA PROGRAM TO THE SEMINAR AND SEE HOW IT MEASURES UP TO THE
BSA EXAMINATION MANUAL! IN ADDITION, NETWORK WITH YOUR COLLEAGUES IN THE
INDUSTRY TO COMPARE AND SHARE!
Who
Should Attend?:
This
seminar is ideally suited to compliance professionals with BSA/AML
responsibilities who have a basic understanding of anti-money laundering
laws and regulations, including BSA Officers, Compliance Officers,
Auditors, Risk Managers and Head Tellers. Please forward email to appropriate person(s).
Instructor:
KEITH
E. MONSON,
CRCM, Chief Risk Officer, Computer Services, Inc., Jefferson City, MO. Mr.
Monson has over 20 years of banking experience and frequently speaks on a
variety of compliance related issues. Mr. Monson has compliance experience
with both large and small financial institutions and has also provided
compliance management assistance to banks as a compliance consultant. Mr.
Monson is a past Chairman of the CRCM Advisory Board and a former member of
the Certification Council for the Institute of Certified Bankers. He is
also a past Chairman of the Missouri Bankers Association's Compliance
Committee. In addition, Mr. Monson has written for and served as the
Chairman of the Editorial Advisory Board – Bank Compliance Magazine and was
a past member of the Compliance Executive Committee and the Regulatory
Compliance Conference Advisory Committee for the American Bankers Association.
He was named the 2009 Distinguished Service Award winner by the ABA
Compliance Administrative Committee for his work in the compliance field.
Mr. Monson graduated from Truman State University and holds a Bachelors of
Science degree in Finance.
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