Regulatory Red Flags for BSA Policy and Risk Assessment Weaknesses
Tuesday, June 9, 2020
2:00 – 3:00 pm (Eastern Time)
Over the past several years, there have been increased scrutiny by examiners on BSA/AML and an increased number of consent orders and scrutiny on the financial institutions policy and risk assessment. Many financial institutions, both big and small, are being hit with enforcement actions and severe penalties based on their weak policies, internal controls and risk assessments. Many financial institutions have found ongoing scrutiny for lack of documented controls, expected controls and changed regulation and laws reflected in both the BSA policy and risk assessment. What are the expectations of documentation, how do you ensure that the policy and risk assessment reflect the current program? What are the best business practices for updating these policies with new regulation, laws, expected documentation and does the risk assessment reflect data analysis or can it simply state the low, moderate or high-risk categories? This webinar will cover all these questions and provide answers to assist financial institutions have a clearer understanding of their responsibilities and expectations to comply.
Topics include:
- Overview of FFIEC Guidance on BSA Policy and Risk Assessment Documentation
- Known weaknesses in financial institutions program and risk assessment
- Red flags of non-compliance with the internal control pillar specific to BSA Policy and Risk Assessment
- Best Business Practices for documenting your BSA Policy and Risk Assessment
BONUS MATERIAL: This webinar will include a FAQ Frequently Asked Questions document.
Who Should Attend:
- BSA Officer and support teams
- Risk Managers
- Compliance Officers and support staff
- Internal Auditors
- Senior Management
Instructor
Terri Sands
Secura Risk Management / Founder
Throughout her career, Terri has served as a leader in the payments and fraud prevention industry, providing education, risk management and compliance consulting and support services geared toward the specific needs of financial organizations.
Terri is an Advanced Certified Anti-Money Laundering Specialist, an At-Risk Adult Crime Specialist and an Accredited ACH Professional. Prior to founding Secura, Terri served as co-founder of Payments Information Circle (PIC), a service organization providing payments industry education, auditing, consulting, resources, and support services to financial organizations throughout the country. Prior to her work at PIC, Terri also served as the President of GACHA, a non-profit, regional payments association where she provided strategic direction for financial institutions in the payments industry. Terri began her career in payments as a Senior Analyst with the Federal Reserve Bank of Atlanta where she provided training throughout the Sixth District and served on the Federal Reserve ACH Conversion Team that consolidated ACH Services for all branch locations in the Sixth District.
Attendance verification for CE credits provided upon request.
Webinar Sponsored by BankersHUB
If you are having issues with registering online, please contact CBAO's Education, Training & Special Event Coordinator, Patti Webb, (614) 610-1877.
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