Last year the CTR received an overhaul with new fields and new formatting. This year the Suspicious Activity Report (SAR) is receiving an extreme makeover, which rolls out in June 2018. It will include updated data fields, new fields to record up to 99 cyber events, new text fields, and new product types. There will also be new subtype selections for the most commonly reported suspicious activities, including structuring and fraud. In addition, batch filers will need to work with their software providers to prepare for the filing format changes.
This must-attend session will detail filing format changes, how to complete the new and updated data fields, the necessary policy and procedure changes to incorporate the new form and filing process, and tips on writing cyber security event narratives. It will also provide examples of each new subtype selection associated with suspicious activity types. This jam-packed session will ensure you are prepared for the new SAR.
- Differences between the current form and the new fields
- Field-by-field requirements
- New filing format and how to ensure preparedness
- Writing an effective SAR narrative for cyber security events
- Proper SAR completion for hot button areas, including elder abuse, human trafficking, and marijuana-related businesses
- Examiner expectations for SAR filing and documentation
- TAKE-AWAY TOOLKIT
- Sample SAR procedures incorporating the new and updated fields
- SAR FAQs
- SAR review checklist
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
WHO SHOULD ATTEND?
This informative session is designed for BSA officers, compliance officers, security officers, and anyone responsible for managing the BSA/AML program.
SPEAKER: Dawn Kincaid, Brode Consulting Services, Inc.
Dawn Kincaid began her banking career while attending The Ohio State University. She has 17 years’ experience in client service, operations, information technology, administrative and board relations, marketing, and compliance. Most recently Dawn served as the Senior Vice President of Operations for a central-Ohio-based community bank, where she created and refined policies and procedures, conducted self-audits and risk assessments, and organized implementation of new products and services. Dawn has served in the roles of Compliance, BSA/AML, CRA, Privacy, and Security Officer. She has led training initiatives, prepared due diligence information, completed a variety of regulatory applications, and coordinated internal and external audits and exams.