Correspondent banking has become a hot topic with BSA AML over the past few years. With examination scrutiny on correspondent banking high, this training program will highlight why it is essential to know the risk and what to do when it comes to banking other banks.
Key takeaway from the session:
Why Should You Attend:
AML risks in correspondent banking - what do you need to know for 2017? In this webinar, attendees will learn the risk and responsibilities for being a correspondent bank in 2017 and what may be asked from you if you are a respondent bank.Key takeaway from the session:
- Knowing the risk of correspondent banking
- The responsibilities of the correspondent and respondent bank
- US regulations dealing with correspondent banking
- Financial Action Task Force (FATF) recommendations on correspondent banking
- Know your customer/customer due diligence for correspondent banking
Areas Covered in the Webinar:
- Knowing the risk of correspondent banking
- The responsibilities of the correspondent and respondent bank
- US regulations dealing with correspondent banking
- Financial Action Task Force (FATF) recommendations on correspondent banking
- Know your customer/customer due diligence for correspondent banking
- When to perform enhanced due diligence
- What is nesting
- Knowing the customer’s customer
- Communications between correspondent bank and respondent bank
- OFAC responsibilities of correspondent banking
Who Will Benefit:
- BSA/AML Officers
- Compliance Officers
- Enterprise Risk Managers
- Bank Compliance Officers and Assistants
- Bank Secrecy Act Officers and Assistants
- Bank Secrecy Act Analysts
- Credit Union Compliance Officers
- Internal Auditors
- Risk Managers
- Staff with BSA/AML oversight responsibilities
- Anyone who deals with correspondent banking risk
Course Provider
Joe Soniat,
