In this webinar Banks and Credit Unions (Financial Institutions) will gain a core understanding of the BSA/AML risks, risk mitigation techniques and potential rewards of banking MSBs. This course is designed to assist Financial Institutions in formulating their strategy for banking MSBs, regulatory bodies overseeing MSB compliance, income and expense characteristics in banking MSBs, balance sheet impacts, perceptions and misperceptions of MSBs, risk between MSB entities and how to strengthen your financial institution’s BSA/AML program.
Why Should You Attend:
Financial Institutions contemplating expanding or launching banking services for MSBs, or conversely existing the business, will benefit by understanding of the critical information that needs to be considered in the unbiased decision making process. Equipped with the appropriate set of data points, management will be enabled to determine the best strategy for their institution regarding the MSB segment.Learning Objectives:
- Understanding the regulatory bodies overseeing MSB compliance as well as the multiple Industry Associations that support their well being
- How to challenge your institution’s assumptions and views of MSBs
- Learn the income and expense characteristics of Financial Institutions deploying a “line of Business” methodology in banking MSBs
- What are the likely balance sheet impacts for Financial Institutions in banking MSBs
- While all MSBs are generally considered high risk for BSA/AML, gain an understanding of the specific risk rating (low, medium and high) drivers for each individual MSB served
- Assessing the appropriateness and rigor of an MSB customer’s BSA/AML Program
- How to address Regulator concerns when electing to launch or expand banking services and relationships with MSBs
- Learn the keys to strengthening a financial institution’s BSA/AML program in undertaking higher BSA/AML risk customers
Areas Covered in the Webinar:
- Market challenges facing Financial Institutions within the current BSA/AML de-risking environment
- Defining MSBs and other higher risk “payments” entities
- Perceptions and misperceptions of MSBs
- Treasury/Cash Management products and services that are generally of the highest demand for MSBs
- Varying levels of risk between MSB entities within the same type of MSB industry
- Indications that an MSB’s BSA/AML compliance program is or is not a “check the box” regime
- Primary concerns of regulators with those Financial Institutions expanding services with MSB customers
- The “investments” financial institutions need to consider in expanding services and relationships with higher BSA/AML risk customers
Who Will Benefit:
- Compliance Officer
- BSA Officer
- BSA/AML Managers
- Risk Officer
- Risk Manager
- Risk Committee Member
- Internal Auditor
- Audit Officer and/or Manager
- Audit Committee Member
- Financial Officer and/or Manager
- Controller
- Accounting Manager
- Head of Business/Commercial Deposit Products
- Cash Management Services Officer and/or Manager
- Treasury Management Services Officer and/or Manager
- Deposit Products and Services Development Officer and/or Manager
Course Content
- Market challenges facing Financial Institutions within the current BSA/AML de-risking environment
- Defining MSBs and other higher risk “payments” entities
- Perceptions and misperceptions of MSBs
- Treasury/Cash Management products and services that are generally of the highest demand for MSBs
- Varying levels of risk between MSB entities within the same type of MSB industry
- Indications that an MSB’s BSA/AML compliance program is or is not a “check the box” regime
- Primary concerns of regulators with those Financial Institutions expanding services with MSB customers
- The “investments” financial institutions need to consider in expanding services and relationships with higher BSA/AML risk customers
Speaker
Richard CascarinoCourse Provider
Richard Cascarino,
