Do you know the right beneficial ownership questions to ask for business accounts and loans? Do your lenders know when a SAR is required? Could a BSA examiner find loan fraud that has gone undetected by your institution’s due diligence process? Join us to learn five important reasons why BSA training must be provided for lenders who open business accounts and loans.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Create a risk-based profile for business accounts and loans by asking the right due diligence questions
- Understand the impacts of regulatory guidance in response to COVID-19
- Identify six types of lending-related reasons for suspicious activity that require a suspicious activity report (SAR)
- Explain beneficial ownership requirements to business loan applicants
- Identify BSA red flags and risks for money laundering in lending
BSA examiners are digging deeper during exams and have begun to ask more questions about the lending function. Could a BSA examiner find loan fraud that has gone undetected by your institution’s due diligence process? Is there a system for identifying false statements and attempts at identity theft on business loan applications? Do your lenders know that these activities may require filing a SAR? Is beneficial ownership effectively documented? This program will address those questions and provide five important reasons that BSA training must be provided for lenders who open business accounts and loans.
WHO SHOULD ATTEND?
This informative session is designed for loan officers, loan operations staff, BSA officers, BSA staff, branch personnel, risk managers, compliance officers, and auditors.
- Updated CDD checklists
- Template to develop and update business risk profiles
- Procedures template for identifying and verifying beneficial owners
- Employee training log
- Interactive quiz
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.