This BSA/AML (Bank Secrecy Act/Anti Money Laundering) compliance training will help attendees understand, identify and mitigate the risks associated with high risk transactions.
Why Should You Attend :
An effective BSA/AML compliance program controls risks associated with the institution’s products, services, customers, entities, and geographic locations; therefore, an effective risk assessment should be an ongoing process, not a one-time exercise. Monitoring your risks includes monitoring your transactions, especially your high risk transactions.
Per the FFIEC Manual: The development of the BSA/AML risk assessment generally involves two steps: first, identify the specific risk categories (i.e., products, services, customers, entities, transactions, and geographic locations) unique to the institution: and second, conduct a more detailed analysis of the data identified to better assess the risk within these categories.
Several examples of a system of internal controls will help you document your monitoring program.
Why Should You Attend :
An effective BSA/AML compliance program controls risks associated with the institution’s products, services, customers, entities, and geographic locations; therefore, an effective risk assessment should be an ongoing process, not a one-time exercise. Monitoring your risks includes monitoring your transactions, especially your high risk transactions.
Per the FFIEC Manual: The development of the BSA/AML risk assessment generally involves two steps: first, identify the specific risk categories (i.e., products, services, customers, entities, transactions, and geographic locations) unique to the institution: and second, conduct a more detailed analysis of the data identified to better assess the risk within these categories.
Several examples of a system of internal controls will help you document your monitoring program.
Areas Covered in the Webinar :
- Resources.
- Accessing the data: What are the obstacles? Core system, teller system, BSA monitoring program, etc.
- How did the activity occur? In person, telephone, internet, wire, ATM, or ACH.
- Sample risk assessment for products and services.
- Systems of internal controls.
- Managing Non Resident Aliens.
- Documenting and Monitoring a Cash In and Cash Out Report.
- Who Will Benefit :
- Financial Officers
- Bank Secrecy Act Officers
- Front Line Staff
- Risk Officers
- Operational Managers
Speaker
Doug KeipperCourse Provider
Doug Keipper,
