BSA Officer Part 3: BSA/AML Deep Dive for the New BSA Officer

This session will plumb the depths of the Bank Secrecy Act and related regulations that safeguard financial institutions against money laundering and terrorist financing. Receive practical guidance on CIP documentation, CDD and OFAC screening, CTR and SAR reporting, and managing audits and staff training. Gain insight into identifying high-risk areas, implementing adequate internal controls, and effectively communicating regulatory changes to staff and directors. Strengthen your compliance program with expert strategies and real-world examples.

As a BSA/AML Officer, you are responsible for developing and administering a Bank Secrecy Act (BSA)/anti-money laundering (AML)/countering the financing of terrorism (CFT) program that identifies your institution’s risks and provides adequate controls, as well as monitoring processes, independent audits, and ongoing training of staff and directors. Wrapping your arms around the many facets can seem like a daunting task. Where should you focus your time? What are your areas of highest risk? How do you even know what those areas are!? When is your next exam? How did the last exam go? How do you communicate new rules and updated procedures to staff and the board? New rules?? Where do I find out about those!?

This session will help you answer these questions and more. We will take a deep dive into the components of the BSA/AML rule, CIP documentation, CDD requirements, OFAC screening, CTR completion, maintaining information for the sale of monetary instruments and funds transfers, monitoring for and reporting suspicious activity, and much more! Walk away with tools and resources to help you manage your responsibilities as the BSA/AML Officer and be successful in your new role.  

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your institution is prohibited. Print materials may be copied for eligible participants only.