This multi-session training program consists of 7 sessions over 4 days. $1895 webinar and downloads for the first attendee; $400 for each additional attendee from the same institution. Registration includes: 7 training sessions and all course materials and tests.
If you are unable to attend any of the live sessions on the days they have been scheduled you may utilize the on-demand sessions for the webinars you are unable to attend.
Few regulations are as complex and have as many nuances as the Bank Secrecy Act (BSA) and related anti-money laundering laws and regulations. Effective management of a financial institution’s BSA function requires a level of knowledge that can only be acquired with thorough training and meaningful experience. No set of regulations poses greater peril for the poorly trained "dabbler.” BSA failures have resulted in some of the largest fines in U.S. financial services history, and not just for large financial institutions. In addition, there is also the potential for significant civil and criminal penalties associated with BSA violations.
The BSA/AML Officer Certification Training Program offers the flexibility, knowledge, and practical guidance you need in order to manage and be in compliance with the requirements:
- Master the regulatory requirements from start to finish
- Hear practical solutions and best practices from instructors who are former bank examiners and now consultants to financial institutions across the country.
- Get the training you need to effectively manage the institution’s BSA/AML program in a manner that minimizes risks.
- Interact with your instructors in live question and answer sessions
- Have access to recorded versions of all of the live webinar sessions. You can use these as a substitute for attending any of the live sessions or as a reference which you can refer to when the need arises in the future.
- Avoid the expense and inconvenience of travel in order to attend. All you have to do is close your office door and log in.
Plus! You’ll also have the opportunity to earn a prestigious professional designation awarded by Sheshunoff Consulting + Solutions and BankersWeb.
This comprehensive program offers everything: practical training and guidance taught by experienced and knowledgeable instructors, 7 live webinar training sessions, digital downloads, study guides, self-assessment quizzes, a final test, and a prestigious BSA/AML Officer Certification from Sheshunoff Consulting + Solutions and BankersWeb. BSA/AML Officer Certification Training Program is designed to provide everyone in your institution with significant BSA, AML and OFAC responsibilities the training they need to be successful and to help demonstrate to your regulators that your institution is serious about its BSA compliance responsibilities.
WHAT YOU’LL LEARN
The BSA/AML Officer Certification Training Program consists of 7 sessions over 4 days. You can attend the live sessions or, use the equivalent digital downloads for any of the live sessions you cannot attend. Each of the training sessions is clear, concise and comprehensive, and includes study guides and checklists. Even if you do attend each of the live sessions, you may still want to listen to the digital downloads as a review or for future reference. There are brief self-assessment quizzes at the conclusion of each of the first six training sessions which you can use to check your understanding of the materials which have just been presented, and for those who wish to earn a prestigious BSA/AML Officer Certification from Sheshunoff Consulting + Solutions and BankersWeb you can take a final test once you have completed the seventh training session and have satisfied the minimum experience requirement. There is also a continuing education requirement that starts in the second year for anyone who has been certified.
Below is an overview of each of the training sessions. Please note that the session times refer to central time.
Day 1, Session 1
- Part 1: “Define This.” While covering the definitions, this session takes it to the next step by delving into the context of definitions. Every regulation uses key terms and concepts, but BSA mandates an appreciation of the interplay within those definitions.
- Part 2: “The Five Ws of a BSA Enforcement Order.” Tap into our experts' experience in working with regulatory enforcement orders to discover the critical roadmap to avoiding such orders. Knowing the world of BSA risk failure can be the ultimate path to BSA risk success.
Day 1, Session 2
- Part 1: "Building a Firm Foundation.” The afternoon session of the first day focuses on establishing the foundation of BSA, the BSA program itself. While there is never a one-size-fits-all program, there are core strategies that should be part of all BSA programs. This session presents the various strategies for building a program that fits your institution as you coordinate Policy, Program, Systems, Training, etc. A sample program will be presented as a basis for our discussion.
- Part 2: “The Most Powerful Yet Underutilized Tool in BSA: The Risk Assessment.” This discussion includes a presentation of how a BSA Risk Assessment can establish a powerful baseline and projection of risk in BSA. We’ll provide a sample Risk Assessment and explain why the type of presented document is vital to program success.
Day 2, Session 3
- "CIP, CDD and EDD: The Gateway to BSA Nirvana or the Weak Link of Program Failure." This session presents the basics of BSA, Customer Identification Program (CIP), and Customer Due Diligence (CDD), including problem areas, and how these elements are critical to a successful BSA/AML Suspicious Activity Monitoring Program. The session presents basic elements of establishing risk factors for accounts and why it is important from an enterprise-wide perspective. Building on CIP and CDD, the session presents why Enhanced Due Diligence (EDD) is typically the weakest element of many institutions’ entire BSA program. EDD requires careful consideration to an integrated part of your BSA/AML program. When properly designed, an EDD program serves as a powerful and necessary tool for guiding the AML monitoring program.
Day 2, Session 4
- Part 1: "From CTR to SAR." The CTR is the workhorse of BSA, and knowing it thoroughly is critical to understanding why and how BSA works. This session takes us through the CTR in 3D: the Details, the Dimensions, and the Defeats. The session then proceeds into the Suspicious Activity Monitoring or BSA/AML Monitoring, starting with how institutions must begin to connect the key elements of BSA into an effective program that establishes a culture of communication to promote sound completion of the SAR. Part 1 concludes with a focus on the culture of BSA and its importance in establishing an effective BSA program.
- Part 2: “All for One and One for All.” We'll discuss the BSA roles within the financial institution and the elements associated with the respective roles. The discussion presents key departments/groups within financial institutions and how those departments need to know about BSA, how to go about providing that understanding, and how to effectively eliminate the weakest-link syndrome.
Day 3, Session 5:
- “BSA/AML: The Good, the Bad and the Downright Ugly.” The number of AML systems out there continues to expand, but what makes them good, bad or downright ugly? Many institutions are surprised to learn that the answer is that it might not be the system. The three parts of the presentation include the basics of what a system must accomplish (the good), what systems often fall short of accomplishing (the bad), and what happens when systems take over without substance (the downright ugly). We’ll explore various “automated” systems and their pros and cons. We’ll also discuss how internal and external validation and how testing can provide helpful insights into areas where weaknesses may be found in your system. We’ll also discuss how internal validation and testing provide helpful insights into areas where weaknesses may be found in your system.
Day 3, Session 6
- Part 1: “Suspicious Activity: I Spy with My Good Eye.” BSA focuses its powerful eye on identifying suspicious activity. From a definition perspective, this includes Structuring, Placement, and Integration. This three-part session includes a foundational discussion on what constitutes suspicious activity and how CIP, CDD, and EDD play a critical role in its detection. The session includes additional discussion on techniques of detecting activity incorporating our discussion on AML Monitoring Systems.
- Part 2: “The Investigation.” We'll build on detection and monitoring systems. This session addresses the role of investigations and why a risk-based investigation system ensures the proper allocation of key resources. The session includes discussion on investigation techniques and documentation elements.
- Part 3: “Yes SAR.” The SAR must be considered the pinnacle of BSA purpose. There is much that can be learned through the study of a strong SAR program. A quality SAR isn’t born; it’s created from a strong program. This three-part session includes the basics of the SAR, the nuances of strong SAR narratives and the power and purpose of the SAR.
Day 4, Session 7
- "The Beneficial Ownership Rule.” Beneficial ownership continues to be a complex and evolving area that can be difficult to wrap your arms around. Institutions are having legal, compliance, and operational challenges associated with beneficial ownership reporting. Join our expert, Coppelia Padgett, as we look at the regulation, FinCEN FAQs, other guidance and collective “lessons” learned. Bring your questions as we provide a road map through this regulatory and practical maze to help you understand and organize your BSA/AML program so that it minimizes your risks, complies with the new legal and regulatory requirements.
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