Managing an Effective AML Compliance Program: 2-day In-Person Seminar (Chicago, IL - August 16-17, 2018)

  • ID: 4515815
  • Conference
  • Location: Chicago, IL
  • 2 Days
  • Compliance Online
  • Conference Dates: August 16-17, 2018
UP TO OFF
until Jul 20th 2018
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Are the financial transactions within your organization subject to money laundering risk? Do you have a robust internal controls program that focuses on mitigating the greatest AML/Fraud risks? Are your employees aware of the red flags within all financial transaction business processes and know what to do if they find unusual or suspicious activity? Are your company and management up to date on its compliance requirements and the potential impact of non-compliance?

Whether you need to get back-to-basics or you are a seasoned AML professional, join us as we explore the many facets of managing an effective AML compliance program: Join us as we focus on the following key elements:

  • Regulatory frameworks surrounding anti-money laundering
  • Objectives of an effective AML compliance program
  • Risk assessing your institution
  • Developing robust internal controls
  • Training for appropriate personnel
  • Expectations and duties of the appointed compliance officer
  • Effective audit program to ensure adequacy of your AML compliance program

Seminar Fee Includes:

  • Lunch
  • AM-PM Tea/Coffee
  • Seminar Material
  • USB with seminar presentation
  • Hard copy of presentation
  • Attendance Certificate
  • $100 Gift Cert for next seminar
  • Download Brochure

Learning Objective:

Key goals of this course are:

To provide an understanding of money laundering and how it can impact an institution
To review the importance of “tone at the top” and how to implement a compliance-friendly environment
To learn about the critical internal controls and how these controls can protect your institution

The course will focus on the 4 pillars of an AML compliance program:

  • Policies, procedures and internal controls
  • Designation of a compliance officer
  • Training for appropriate personnel
  • Independent audit
  • To understand the importance of the risk assessment
  • To focus on the senior management/board of directors oversight of the Program
  • To discuss customer due diligence and know your customer expectations
  • To discuss knowing your high risk customers
  • To review implementation steps for enhanced customer due diligence
  • To discuss red flags indicating unusual or suspicious activity
  • To understand detection and reporting requirements under the Bank Secrecy Act
  • To discuss recent case studies

Field of Study:

  • Administrative Practice: 1.2 Credits
  • Auditing: 0.6 Credit
  • Business Management & Organization: 7.8 Credits
  • Communications: 2 Credits
  • Computer Science: 1.8 Credits
  • Personnel/HR: 0.6 Credit
  • Social Environment of Business: 1 Credit
  • Specialized Knowledge and Applications:2 Credits
  • Total CPE credits earned in this seminar: 17 CPE Credits

Program Delivery Method: Group-Live
Program Level: Basic
Advance Preparation/Program Prerequisites: None

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Day One (8:30 AM - 5:00 PM)

Registration Process: 8.30 AM - 9.00 AM

Session Start Time: 9.00 AM

9.00 AM - 12.00 PM: Understanding the Basics (3 Hours)
A. Money Laundering Basics
B. Regulatory Overview
1. U.S. Federal Regulating Agencies
2. History of U.S. Money Laundering Regulation
3. Bank Secrecy Act
4. USA PATRIOT Act
5. U.S. Federal Statutes
6. Role of Regulators & Expectations
C. The Four Pillars
1. Policies, procedures & internal controls
2. Appointment of Compliance Officer
3. AML Training
4. Independent Testing
D. Oversight & Management
1. “Tone at the Top”
2. AML Governance
3. Compliance Task Force
4. Fostering Partnerships in LOBs

12.00 - 1.00 PM: Lunch

1.00 PM - 4.30 PM: Managing Money Laundering Risk (3.5 hours)
E. Developing a Risk Assessment
1. Identifying high risk activities in the institution
2. Knowing your high risk customers
F. Customer Identification Program (CIP)
1. Conducting Customer Due Diligence (CDD)
2. Enhanced Due Diligence (EDD)
3. Know Your Customer (KYC)
G. Office of Foreign Assets Control (OFAC) & Sanctions Programs
1. Multinational Issues
2. History of Economic Sanctions Programs
3. Screening tools
4. Hits - Blocking & Rejecting
5. OFAC Risk Assessments
6. OFAC Reporting & Documentation
7. Enforcement Guidelines

Day Two (8:30 AM - 4:30 PM)

8.30 AM - 8.35 AM: Welcome & Recap of Previous Topics

8.35 AM- 10.35 AM: Monitoring & Reporting of Suspicious Activities (2 Hours)
A. Transaction Monitoring
1. Manual Vs. Automated
2. Managing & Fine Tuning Alerts
B. Investigate Protocols
1. Defining Suspicious Activity
2. Escalation & Referrals
3. Case Management
C. Reporting & Recordkeeping
1. CTR & CTR Exemptions
2. CMIR
3. Travel Rule / Funds Transfers
4. Monetary Instruments
5. FBAR
6. Form 8300
7. SARs

10.35 - 11.15 PM: Repercussions (40-Minutes)
D. Failure to Comply
1. Criminal & Civil Penalties
2. Common Deficiencies Causing Enforcement

11.15-12.00 PM: Case Studies (45-Minutes)
E. Case Studies
1. What Went Wrong?
2. Contrast & Compare
12.00 PM - 12.45 PM: Lunch

1.00 PM - 1.45 PM: Issues & Answers: Open Discussion (45-Minutes)

1.45 PM - 4.15 PM: Workshop & Exercises (150 minutes)

4.15 PM - 4.30 PM: Wrap Up

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  • Laura H. Goldzung Ms Laura H. Goldzung,
    President and Founder ,
    AML Audit Services, LLC


    AML Audit Services, LLC, is an anti-money laundering and fraud consultancy specializing in independent testing and compliance consulting services to financial and nonbank financial institutions.

    Mrs. Goldzung’s expertise include domestic and international training, design and development of BSA/AML compliance programs, risk assessment and analysis, remediation and corrective action programs, expert witness testimony, and CFPB compliance benchmark assessments. She has worked with institutions that have been referred to enforcement for BSA/AML violations, helping them to bring their AML programs into compliance.

    In her more than 25 year career in the financial services industry, she has worked in a variety of executive roles, most notably as vice president and managing director at the Securities Industry Association where she assisted member-firms in coordinating the implementation of the Patriot Act and the development of AML training. In prior years, she served in executive management roles in the broker-dealer sector.

    Operating from offices in the historic Morristown, New Jersey area, she serves as an industry arbitrator for FINRA Dispute Resolution and is active with several industry groups including the Association of Certified AML Specialists, SIFMA’s Compliance & Legal and Internal Audit Societies, Association of Certified Fraud Examiners, National Society of Compliance Professionals, to name a few. She services on a variety of industry task forces and committees, and is faculty for a number of industry education programs. She is a frequent speaker and contributor on the topic of anti-money laundering and fraud.

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Who Will Benefit:

BSA/AML Officers, Compliance Officers, AML Analysts, Operations Managers, Remittance Analysts, Consultants, Internal Auditors, Accounting and Finance Directors, Internal Auditors, Legal Departments, Compliance Officers, and Risk Managers at Banks, Broker-Dealers, Residential Mortgage Lenders & Originators, Precious Gems Traders, Money Services Businesses and other nonbank financial institutions.

  • Risk Management
  • Legal
  • Regulatory
  • Compliance
  • Audit
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ADDRESS

Chicago, IL

Venue to be announced shortly.

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