Normal businesses? No problem. But how do you decide whether to serve potential clients that are somewhat “outside the lines”?
You discover a long-time accountholder has changed their business model, and suddenly become a higher BSA risk. You are approached by a new entity whose product mix will potentially impact your BSA operation, but also appears to be someone you should consider as a new accountholder. These scenarios arise more often every day.
It is easy to serve a “normal” business. But what do you do when the potential client is somewhat “outside the lines”? What should be considered within your financial institution? What restrictions/conditions should be placed on such accountholders? Which products will be offered (or not) to these entities? This webinar will address the thought and decision-making processes that BSA staff and management must use to deal with more unique business types.
- The decision-making process for more unique businesses
- The priority realignment that management and BSA officers must accept
- Marijuana businesses and MRBs (or CRBs)
- CBD oil
- Other higher-risk businesses
- TAKE-AWAY TOOLKIT
- The manual will include aids to assist management and the BSA department in making decisions about whether and when to serve these higher-risk businesses.
- Employee training log
- Interactive quiz
WHO SHOULD ATTEND?
This informative session is directed to management, BSA officers, BSA department staff, and lenders.
SPEAKER: Bill Elliott, Young & Associates, Inc.
Bill Elliott has over 40 years of banking experience. As a senior compliance consultant and director of compliance education with Young & Associates, Inc., Bill works on a variety of compliance-related issues, including leading compliance seminars, conducting compliance reviews, conducting in-house training, and writing compliance articles and training materials.
Bill’s career includes 15 years as a compliance officer and CRA officer in a large community bank, as well as working at a large regional bank. He has experience with consumer, commercial, and mortgage loans, and has managed a variety of departments, including loan review, consumer/commercial loan processing, mortgage loan processing, loan administration, credit administration, collections, and commercial loan workout.