CDD And The 5th Pillar
|Date / Time:
On May 11th, 2016 FinCEN's codified previously implied, or implicit, guidance with explicit Customer Due Diligence (CDD) requirements regarding understanding the nature and purpose of legal entity accounts to develop an initial risk profile and ongoing monitoring.
Most of the headlines have addressed the new Beneficial Ownership rule but the new 5th Pillar is already being addressed in recent Consent Decrees. Don't be the next bank to make news regarding deficiencies in your bank's CDD process.
This two-hour program identifies which guidance has now become a regulatory requirement and needs to be addressed immediately. We will address the CDD guidance in the Core Examination section of the Interagency BSA/AML Examination Manual as well as various section of the Expanded Examination sections such as Cash Intensive Businesses, Professional Service Providers, Nongovernmental Organizations, etc.
The program will include a review of the major regulatory findings regarding the customer risk profile initial process along with the need for periodic monitoring. Additionally, we will discuss the corrective actions set forth in the recent BSA written consent actions and keep your bank off the regulatory radar.
Participants receive a detailed manual that serves as a valuable resource long after the conclusion of the program which will serve as a vital resource in enhancing your bank's written BSA Program.
- Higher risk customer types that need frequency monitoring in comparison to lower risk customer types that need infrequent monitoring
- BSA policy and program requirements and changes
- Regulatory requirements
- Types of accounts to include in CDD monitoring
- Board and Senior Management expectations and responsibilities
- Baseline determination of "normal" vs "suspicious" activity
- Development of an initial customer risk profile
- Threshold for updating a customer profile
- Connecting the dotted line between unusual CDD activity and the filing of a SAR
- CDD and its impact upon the bank's annual BSA Risk Assessment
- How to avoid examination and audit findings
- Record Retention
- Transactional internal testing
Who Should Attend
The program is designed for BSA Officers, Compliance Officers, Branch Administration, Deposit Operations, Senior Management, Auditors, and those responsible for the development, implementation, maintenance and oversight of a bank’s BSA program.
Don Blaine is a Senior Training Consultant for Compliance Resource, LLC. Don has over 30 years of experience in regulatory compliance for the banking industry with banks ranging in size from community banks to money center banks. He provides training on Bank Secrecy Act/Anti-Money Laundering and deposit compliance. His prior roles have included: Chief Compliance Officer, Senior Compliance Regulatory Examiner, Compliance Audit Manager, and business unit compliance manager.
Don has taught at the ABA’s National Compliance School and has served as an instructor at programs offered by state banking associations. Prior to joining Compliance Resource, LLC, Don served as a consultant to numerous banks. He has attained Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) certifications.
Cannot Attend The Live Presentation?
This presentation is also available in a recorded format, in On-Demand Or CD versions, as shown in the pricing options below.
|About Webcasts / Audio Conferences / Podcasts:|
Webcasts, audio conferences, and podcasts are presentations that you
attend via the Internet, phone, or mobile device at a specified date and time for "live" versions, or at your convenience for "recorded" and "On-Demand" versions.
versions are interactive, meaning that participants can ask questions in real time, plus are a very cost-effective form of training because 1) you receive fast, convenient learning without
any out-of-office time; 2) you can invite as many colleagues as you'd like to listen in on a single phone line; 3) you incur no travel expenses; and 4) you and your colleagues are back
at work immediately after the session ends!
And though with recorded versions you do lose the ability to ask questions, you gain the ability to hear the presentation numerous
times and to share it with others in your office.
Handout materials and the phone number for live presentations are made available to you prior to the event via email from the
presenter and from the "MyAccount" link on the menu bar. Copies of the presentations are included with recorded versions.
|Licenses / Designations / Educational Credits:||CEU|
All US States: 2.5
All Canadian Provinces: 2.5
|About The Provider:
||Since 1983 Total Training Solutions has produced dozens of videotapes, CD-Roms, DVD's and web-based training modules. In addition to off-the-shelf products, Total Training Solutions also develops custom training products and consults with financial institutions to develop their own training curriculum.
For timely delivery of training topics, webinars or web conferencing is an unbeatable option. We now offer over 100 live programs per year and you can even purchase the recorded or ondemand session if you are unable to attend the live program.
We have worked exclusively with the financial industry since our founding. Because of this, we understand the needs of training departments in financial institutions and are alert to changes which affect the industry.
Attend the live session with the opportunity to ask questions to the presenter. You also receive a link to the handouts. All registrations for a live event will be given access to the OnDemand recording, at no additional cost, for seven days following the event. This will allow a flexible alternative when last minute conflicts intrude on scheduled events.
CD-Rom includes audio and video of recorded webinar plus hard copy handouts. You will also receive 6 months access to the OnDemand weblink as an added free bonus.
Includes a weblink for unlimited viewing for 6 months after the date of the webinar as well as a link to handouts.
Live + Recorded:
Includes all three options above. Live session, OnDemand Weblink, and CD-Rom plus Hardcopy Handouts.
Live + OnDemand:
Includes two of the options above. Live session and 6 months access to OnDemand Weblink plus link to handouts.
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