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What the Bank's Board Must Know about the Bank Secrecy Act - Webinar

  • ID: 4143131
  • Webinar
  • April 2017
  • Region: Global
  • 60 Minutes
  • Online Compliance Panel
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Compliance issues and reputational success demands Board of Directors to understand the financial institution's obligations under the Bank Secrecy Act (BSA). Regulatory expectations are that senior management demonstrates cultural leadership in the organization's BSA/Anti-Money Laundering efforts. But what does this mean, and how do we implement this in a manner appreciated and understood by our employees, customers and the regulatory community? This one hour training program focuses on the Board of Directors' role and duties under the BSA/AML guidance, as was recently amended.

Objectives of the Presentation:

- FFIEC's BSA Exam directives of concern to Directors
- Putting FinCEN's regulatory expectations into practice
- Doing and showing what is expected of the Board in the Minutes
- High level overview of the most recent changes in the 'Beneficial ownership' Customer/Member Due Diligence, and 'high-risk' customer expectations
- How to get the USA Patriot Act's CIP requirements right
- Leading the organization's BSA efforts towards building a better brand

Why Should You Attend?

Financial institutions' functional regulators require that Senior Management and the Board understand and support their organization's BSA/AML compliance efforts. Training tailored to Boards and executives is necessary and is valuable for the institution's brand. Getting compliance wrong can damage a business' good standing and can cost Hundreds of Thousands of dollars in regulatory fines and remedial expenses.

Areas Covered:

- Overview of the key laws and regulations in this area
- What the most recent amendments are and what they mean for your institution's compliance obligations
- How to build, and prove you have built, a 'culture of compliance,' as so often mentioned by examiners
- The right way to empower your compliance staff
- War Stories of actual compliance enforcement actions and their real-world consequences
Note: Product cover images may vary from those shown
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  • William Repasky William Repasky,

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This informative session is designed for financial institutions, including bank and credit union's:
  • Board of Directors
  • Director's Committees
  • Executive & Senior Management
  • BSA Compliance Officer
  • Fraud Investigators
  • BSA Compliance Staff personnel
Note: Product cover images may vary from those shown