The BSA / AML / OFAC Compliance Officer is responsible for developing, implementing and administering all aspects of the Bank Secrecy Act Compliance Program, and for assuring that the bank is in compliance with the Bank Secrecy Act, USA Patriot Act, OFAC, and all other applicable laws.
Currency Transaction Reports and Bank Secrecy Act began in 1970. While the basic premise has remained the same, the amount of bureaus and regulations has reached staggering proportions. The BSA exam manual is now 442 pages. The Treasury Department has designated FinCEN, Financial Crimes Enforcement Network, to oversee the Bank Secrecy Act. Civil Monetary Penalties for non compliance from thousands to millions of dollars continue to make headlines. Willful disobedience can be blamed on the board of directors down to the compliance department.
The federal government requires all banks and credit unions to have a board designated Bank Secrecy Act Officer. FinCEN also requires the BSA Officer and team are well qualified and trained to carry out the duties of this important position. Employees at the financial institutions are required to have initial and ongoing training on money laundering and BSA. Many people choose to outsource employee training, but this course will teach the teachers how to teach. You will be recognized within the bank or credit union as the go to expert.
This interactive two day class prioritizes and focuses on the framework, education and tools needed to properly manage this department within a financial institution. Attendees will participate in case studies, discussions and real world scenarios that they can take back to their departments to implement regardless of their asset size.
Areas Covered in the Seminar:
- 4 Pillars of BSA/AML Program
- Board Training and Job Specific Training
- Case Studies
- Currency Transaction Reports
- Suspicious Activity Reports
- Money Service Businesses
- USA Patriot Act
- Customer Identification Program
- Customer Due Diligence
- Enhanced Due Diligence
Field of Study:
- Auditing: 2.4 CPE Credits
- Business Management & Organization: 4.8 CPE Credits
- Regulatory Ethics: 9.3 CPE Credits
- Total CPE credits earned in this workshop: 16.5 CPE Credits
For more information about this conference visit http://www.researchandmarkets.com/research/4k5nzh/amlbsa_boot_camp