BSA/AML compliance is its own growth industry. Every year, including this one, brings changes in legal requirements and regulatory interpretations.
This year was ushered in with a major revision of the process for recognizing “exempt persons” who are not subject to currency transaction reporting. It eliminates the need for filing a Designation of Exempt Person form in some circumstances and the filing of biennial renewals as well.
In addition, general BSA/AML compliance concepts continue to evolve. Some key areas of emphasis include:
The reorganization and simplification of BSA regulations,
Enhancing formal BSA/AML/OFAC risk assessments,
Identifying and monitoring high risk customers,
Using the BSA/AML Examination Handbook as a compliance tool,
Recent SAR filing statistics, and
Proper SAR completion.
This full day seminar brings attendees current on both the basic technical requirements and the philosophies currently affecting on-site examinations. It is designed to be practical and focus on everyday issues connected to a BSA/AML compliance management effort.
The presentation is a comprehensive overview of BSA/AML compliance issues, but it focuses on recent developments too.
The program includes coverage of:
Reviewing and Updating Your Risk Assessment
Anti-Money Laundering programs (AMLs)
Customer Identification Programs (CIPs)
Due Diligence and Enhanced Due Diligence – What’s what?
Currency Transaction Reporting
Recent Changes to the CTR Filing Exemption Process
Record Retention
Official Checks
Wire Transfers
Introduction to OFAC Requirements
Introduction to Suspicious Activity Reporting including the revised SAR Form which is still pending
Why Attend this Seminar?
BSA is one of the few regulations where compliance is so critical it is classified as a “safety and soundness” issue.
Regulations require every bank to have an ongoing Bank Secrecy Act training program and examiners routinely ask for evidence of recent training – even from experienced BSA personnel.
SAR filing requirements are one of the most difficult compliance responsibilities your institution has
The program is designed for personnel who have responsibility for maintaining or auditing Bank Secrecy Act compliance efforts.
About Your Presenter
Ken Golliher is a principal with Pegasus Educational Services, LLC, a training firm headquartered in Louisville, Kentucky. He is an experienced banker with a unique ability to reduce complex legal concepts to plain English. He has explained the "why" and "how" of regulations to thousands of financial institution personnel and examiners. Ken`s banking career began in 1972 and includes serving as a teller, commercial operations manager and as trust department legal counsel in a state and a national bank. For ten years he headed the education division of a regional consulting firm for financial institutions. He has served on the faculty of the LSU Graduate School of Banking, the OTS` Level I Compliance School and the FDIC`s Advanced Consumer Protection School for examiners. He has presented seminars in more than 25 states and has served as an instructor at compliance schools sponsored by ten state bankers associations. He is a member of the Society for Applied Learning Technology.
Tuition
Each price provides online access for 6 months after purchase.
