BSA/AML/OFAC Risk Assessments – Are You Doing Them Correctly: One and Half Day In-person Seminar

By: Doug Keipper, Certified Anti-Money Laundering Specialist, Leading Bank
Location :- Dallas, TX | Thursday, February 27, 2020 | Friday, February 28, 2020
“BSA/AML/OFAC Risk Assessments – Are You Doing Them Correctly” – ComplianceOnline is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. CPE credits offered : 14.4

We need the below information to serve you better

Course Description:

Although financial institutions have been managing BSA operations as per the regulatory requirements, the change in focus to appropriate BSA/AML/OFAC risk assessment has become increasingly important. Regulators look to the organization for insurance and evidence that BSA operations are appropriately performing risk assessments. Appropriate risk assessments are essential in an organization’s strategic planning and development, as well as ensuring compliance with laws and regulations.

This Bank Secrecy Act risk assessment seminar will highlight BSA best practices that are being acknowledged and recognized by regulators and examiners and will discuss each risk assessment area. Attendees will learn how to conduct a comprehensive review of their current organization’s BSA/AML/OFAC risk assessment.

Learning Objectives:

Key goals of this BSA risk assessment course are:

  • To review and evaluate policies and procedures for risk assessments
  • To help identify your organization’s risks
  • To determine your organization’s risk threshold based on the organization’s strategic plans and business models
  • To discuss how to conduct a comprehensive review of your organization’s BSA/AML/OFAC risk assessment, including
    • Determining completeness of the risk assessments
    • Determining the thoroughness of risk assessments
    • Determining if current risk assessment matrixes are appropriate for your organization
  • To discuss how to establish risk assessments for your organization, specifically:
    • BSA risk assessments
    • AML risk assessments
    • OFAC risk assessments
  • To illustrate how to perform the risk assessments
  • To highlight the need for periodically reviewing risk assessments to determine if they are still relevant, appropriate, and adequate
  • To discuss implementing a BSA/AML/OFAC risk assessment program at your organization

Who Will Benefit:

  • BSA / AML Officers
  • Internal Auditors
  • Staff with Roles and Responsibilities in BSA/AML Management and Oversight
  • Money Service Business BSA/AML Officers
  • Corporate Auditors
  • Risk Managers
  • Legal Department Personnel
  • Regulators
  • Compliance Officers

Topic Background:

Financial institutions are required to be compliant with BSA rules and regulations. Such compliance needs to be well documented and consistent to ensure financial institutions avoid BSA violations and implications. Financial institutions’ BSA programs must have adequate risk assessment policies and procedures along with monitoring programs, training programs, and qualified employees overseeing the BSA daily operations and independent testing. An effective BSA risk assessment program will ensure that all areas are being evaluated for risk appropriately and being monitored on a routine basis. However, to accomplish this, your financial institution must not only have the appropriate risk assessment procedures in place, but also be performing them correctly.

CPE-GRC

We are registered with and adhere to the Statement on Standards for Continuing Professional Education programs of the National Registry of CPE Sponsors. Our registration number is 109066. Please check with the governing body of your license and state for specific CPE requirements. Grievances may be forwarded to the company at 650 620 3961. Grievances may also be forwarded to the National Registry of CPE Sponsors-NASBA, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417, 615-880-4200, www.learningmarket.org, e-mail cpe@nasba.org.

Field of Study:
  • Specialized Knowledge and Applications 720 Min

Program Delivery Method: Group-Live
Program Level: Basic and Intermediate
Advance Preparation/Program Prerequisites: None

Course Outline:

Day One (8:30 AM – 4:30 PM)

  • 8:30 AM – 9:00 R AM – Registration Process
  • 9:00 AM: Session Start Time
  • 9:00 AM – 9:30 AM Welcome and Introductions
  • 9:30 AM – 10:30 AM – Understanding the Basics
    • Risk Assessment 101
    • What is a risk?
    • Risk and your business objectives
    • Types of risks
    • Consequences of failing to recognize risks
    • Lack of risk monitoring implications
  • 10:30 AM – 10:45 AM – Break
  • 10:45 AM – 11:45 AM – Establishing the Importance of Proper Risk Assessing
    • Board of Directors and Senior Management Involvement
    • Implementing a risk assessment which best reflects the organization’s goals and objectives
    • Examples of involvement
    • Roles and Responsibilities
    • Reviewing and determining risks
    • Who is responsible for determining risks?
    • How do you know that your risk rating is appropriate?
    • Establish appropriate risk ratings
    • Types of risk ratings
    • Who reviews and approves risk ratings?
    • Example: Risk Rating Determination spreadsheet
    • When Risk Ratings don’t make sense
    • Changing risk ratings
    • Ensuring reasons are documented to support risk ratings
  • 11:45 AM – 12:45 PM Lunch
  • 12:45 PM – 4:30 PM – Establishing Risk Matrixes
    • BSA Risk Assessments
    • Definition
    • Examples
    • AML Risk Assessments
    • Definition
    • Examples
    • OFAC Risk Assessments
    • Definition
    • Examples
  • Day one wrap up and summary
  • Day Two (8:00 AM – 12:30 PM)

  • 8:30 AM – 8:45 AM –Welcome and Q & A from Day 1
  • 8:45 AM – 10:45 AM: – Compliance Consideration
    • BSA/AML
    • The Office of Foreign Assets Controls (OFAC)
    • Massive Fines for Non-compliance
    • Examples of How Incorrect Risk Ratings Affect an Organization
  • 10:45 AM – 11:00 AM Break
  • 11:00 AM - 12:00 Noon – Continuous Monitoring
    • What is considered continuous risk assessment monitoring
    • The Pros and Cons
    • Making changes
    • Establishing a review schedule
  • 12:00 Noon – 12:30 PM – The Risk Assessment Toolkit
    • Example Policies
    • Example Risk Assessment Matrixes
    • References and Links
  • Wrap up. Questions and Answers.
  • Meet Your Instructor

    Doug Keipper
    Doug Keipper
    Certified Anti-Money Laundering Specialist, Leading Bank

    Doug Keipper, is a Certified Anti-Money Laundering Specialist (CAMS) since 2005 and a former Bank Secrecy Act officer and compliance officer for an $800 Million commercial bank in Atlanta before it sold twice in one year. Doug sold BSA software for eight years and has taught anti-money laundering classes since 2008 throughout the southeast and online. He has talked with over 500 BSA officers throughout the USA and Caribbean. He has spent over 20 years in retail banking, wholesale mortgages and financial services

    Venue

    Location :
    Dallas, TX (Venue to be announced shortly)

    February 27-28, 2020
    Register Online

    Register Online

    $1,299

    Seminar One Registration

    February 27-28, 2020, Dallas, TX
    (Registrations till January 20, 2020 - $1299)
    (Registrations after January 20, 2020 - $1499)

    Early bird seats are limited and based on first-come, first-serve.

    The registration fee includes: the workshop; all related course materials; morning tea/coffee, lunch and afternoon tea/coffee on both days.
    For discounts on multiple registrations, contact customer care at +1-1-888-771-6965.

    Register by Wire Transfer

    If you wish to pay by wire transfer: Please call us at
    Toll Free +1-1-888-771-6965

    Download Registration Form

    Yes, I want to attend "BSA/AML/OFAC Risk Assessments - Are You Doing Them Correctly: One and Half Day In-person Seminar"
    Click here to Download Registration Form
    If you are paying by check:
    Checks should be payable to MetricStream Inc. (our parent company). and mailed to:
    2479 East Bayshore Road, Suite 260
    Palo Alto, CA 94303
    USA

    Terms & Conditions to register for the Seminar/Conference/Event

    Your Registration for the seminar is subject to following terms and conditions. If you need any clarification before registering for this seminar please call us @ +1-888-771-6965 or email us @ editor@grcseminars.com

    Payment:

    Payment is required before 2 days of the date of the conference. We accept American Express, Visa and MasterCard. Make checks payable to MetricStream Inc. ( our parent company)

    Cancellations and Substitutions:

    Written cancellations through fax or email (from the person who has registered for this conference) received at least 10 calendar days prior to the start date of the event will receive a refund — less a $300 administration fee. No cancellations will be accepted — nor refunds issued — within 10 calendar days from the start date of the event.

    On request by email or fax (before the seminar) a credit for the amount paid minus administration fees ($300) will be transferred to any future GRC Seminars event and a credit note will be issued.

    Substitutions may be made at any time. No-shows will be charged the full amount.

    We discourage onsite registrations, however if you wish to register onsite payment to happen through credit card immediately or check to be submitted onsite. Conference material will be given on the spot if it is available after distributing to other attendees. In case it is not available we will send the material after the conference is over.

    In the event GRC Seminars cancels the seminar, GRC Seminars is not responsible for any airfare, hotel, other costs or losses incurred by registrants. Some topics and speakers may be subject to change without notice.

    Attendance confirmation and Documents to carry to the seminar venue:

    After we receive the payment from the registered attendee an electronic event pass will be sent to the email address associated with the registrant before 5 working days from the seminar date. Please bring the pass to the venue of the event.

    Conference photograph / video:

    By registering and attending GRC Seminars conference you agree to have your photographs or videos taken at the conference venue and you do not have any objections to use these photos and videos by GRC Seminars for marketing, archiving or any other conference related activities. You agree to release GRC Seminars for any kind of claims arising out of copyright or privacy violations.

    Media Partners

    If you wish to partner with us for this event please contact us: partner@grcseminars.com or call us: +1-888-771-6965.
    Media Partner Benefits
    • Logo and company data on the event website.
    • Logo on the conference material distributed during the conference.
    • Media Partner’s brochure distributed along with conference material.
    • Logo on all the mailings before and after the event.
    • 10% discount to media partner's subscribers.
    Media Partner to do
    • Banner (min 728x90 or 468x60) on the Media Partner website.
    • Insertion of the event in the event calendar, both printed and/or online.
    • Announcement article of the conference on the Magazine and/or Website.
    • Dedicated email blast to all subscribers of Media Partner.
    • Article on the Magazine and/or Website after the conference.

    Local Attractions of Dallas, TX

    Dallas World Aquarium
    Dallas World Aquarium lives up to its name, taking visitors on a global tour of nature and its stunning beauty. The Aquarium section includes species from around the world. Permanent exhibits include fish, jellyfish and coral from around the world. Visitors can walk through a special tunnel that runs through one of the large tanks, where sharks and manta rays swim about. The Dallas World Aquarium also features two gift shops and three restaurants.

    Sixth Floor Museum at Dealey Plaza
    The Sixth Floor Museum at Dealey Plaza seeks to inform visitors about the assassination of President John F. Kennedy on Nov. 22, 1963 as his motorcade drove through downtown Dallas and turned the fateful curve of Dealey Plaza at midday

    Dallas Museum of Art
    The Dallas Museum of Art is an internationally recognized institution, showcasing an extensive collection that includes more than 23,000 works of art. You'll see extensive representations of African, Asian, Contemporary, Pacific Islands and European art.
    Dallas Zoo
    The Dallas Zoo covers 106 landscaped acres and is open every day, except Christmas Day. Dallas Zoo is home to more than 2,000 animals, and today, the Zoo is thriving with new exhibits such as the Koala Walkabout presented by Kimberly-Clark Corporation, SOAR, A Festival of Flight, and the Giants of the Savanna to name a few.

    West End
    Shop, dine, browse and enjoy great entertainment at the West End, Dallas' dynamic and original downtown shopping area. Now home to award winning restaurants, upscale nightlife spots and unique shops, the West End is a must see during any visit to Dallas.