Operations staff must have effective, ongoing training to meet several critical BSA requirements. This webinar will examine three focal points of transaction testing sections of the BSA exam process. Real-life examples of suspicious activities detected by deposit operations staff will be included, along with practical tips for processing and protecting the confidentiality of time-sensitive 314(a) requests. This session will include examples of CIP deficiencies in recent BSA enforcement actions and provide additional monitoring tools.
- Compliance with CDD, EDD, and beneficial ownership rules – will you pass the next BSA exam?
- What does the frontline need to know/collect when opening an account?
- Best risk assessment practices for CDD and EDD
- Tips for an effective CIP, including case studies
- Recent enforcement actions focused on failure to identify, monitor, and report suspicious activity – learn how to avoid five issues that may cause violations
- Seven steps to include in 314(a) procedures
- TAKE-AWAY TOOLKIT
- SAR checklist to identify, monitor, and report suspicious activity
- Sample BSA responsibility matrix, including SAR monitoring, 314(a) requests, and CIP
- Template for CDD policy for beneficial ownership and the fifth pillar of BSA compliance
- Compliance review checklist for 314(a) procedures
- Employee training log
- NEW – Interactive quiz
WHO SHOULD ATTEND?
This informative session is designed for BSA officers, BSA staff, deposit operations personnel, loan operations staff, loan officers, branch personnel, risk managers, compliance officers, new accounts staff, and auditors.
SPEAKER: Susan Costonis, Compliance Consulting and Training for Financial Institutions
Susan Costonis is a compliance consultant and trainer. She specializes in compliance management along with deposit and lending regulatory training. Most of her 35-year career was spent as a banker in several areas including lending, loan administration, electronic banking, and compliance risk management.
Susan has successfully managed compliance programs and exams for institutions that ranged from a community bank to large multi-state bank holding companies. She has been a compliance officer for institutions supervised by the OCC, FDIC, and Federal Reserve. Susan has been a Certified Regulatory Compliance Manager since 1998, completed the ABA Graduate Compliance School, and graduated from the University of Akron and the Graduate Banking School of the University of Colorado. She regularly presents to financial institution audiences in several states and “translates” complex regulations into simple concepts by using humor and real-life examples.