Hybrid Delivery Options (select your preference when registering) March 28-29, 2023 – IBA Center for Banking Excellence, Springfield OR Live-Streamed via Zoom 9:00 a.m. - 4:00 p.m.
BSA is an ongoing, ever-changing “safety and soundness” issue. This informative two-day Bootcamp provides the framework for understanding the BSA team’s roles and responsibilities for BSA/AML and OFAC compliance. The financial industry is required to take an increasingly leading role in preventing money laundering and potential terrorist funding. Compliance with the Bank Secrecy Act (BSA) continues to be a top priority with the regulators. One primary requirement of BSA is to designate a BSA/AML officer and ensure that the BSA officer and the BSA team are well trained and qualified to carry out the duties of this critical position.
This session provides current, updated tools, techniques, and “real world” practice and examples for learning the critical components of a BSA/AML program. Basic BSA regulatory framework and provide you with an understanding of the BSA, OFAC, and core recordkeeping and reporting requirements will be reviewed. Attendees will utilize the FFIEC BSA/AML Examination Manual and 31 CFR Chapter X and receive tools, handouts, and best practices.
Program Components Money Laundering and History of Bank Secrecy Act – Evolving during COVID Today’s BSA Officer and Team – Understanding the Key Job Duties and Responsibilities The Tools of BSA – Maximizing BSA Resources The Role of FinCEN – Including the Shift to Joint Agency BSA/AML Violations and Penalties – How to Minimize the Risks BSA/AML Risk Assessments – What the Regulation Requires BSA/AML Compliance Program and 4 Components Customer Identification Program Red Flags Focus Customer Due Diligence and Beneficial Ownership BSA Reporting and Record-Keeping – Common Practices and Challenges Currency Transaction Reporting (CTR) CTR Exemptions Monetary Instrument Logs (MIL) Funds Transfers Suspicious Activity Reporting (SAR) Office of Foreign Asset Control (OFAC) Compliance Fraud and BSA Record Retention
Continuing Education Credit ABA Professional Certifications approved this bootcamp for 14.5 CAFP, CRCM credits. Illinois Public Accounts will receive 12 CPE credit hours.
Audience Designed for newly-appointed BSA/AML Officers, BSA/AML team members, or those responsible for the function
Facilitator As a former banker, Dianne Barton, Founder & President of Performance Solutions, Inc., provides a full array of bank-specific learning solutions, including leadership and management development, regulatory and compliance implementations, retail growth strategies, sales & service culture development, strategic planning, is recognized as “real world solutions” by both regional banks and community banks.
Hotel Information Courtyard - Springfield 3462 Freedom Drive Springfield, IL 62704 Hotel: 217-793-5300 IBA Rate: 15% off the available rate
Per Person Fee IBA Member $505 | Nonmember $875