Hybrid Delivery Options (select your preference when registering) May 9-10 – IBA Center for Banking Excellence, Springfield OR Live-Streamed, 9:00 a.m. - 4:00 p.m.
The Illinois Bankers Association is pleased to offer the Advanced BSA/AML Academy to meet the ongoing regulatory requirements. This two-day program focuses on the latest changing BSA arena and provides tips and tools to develop and manage an “adequate” and “effective and reasonably designed” BSA program.
Attendees will receive a training program manual, an updated FFIEC BSA/AML Examination Manual, a Resource Manual (packed with examples, forms, templates, and handouts), and opportunities to network with peers on current challenges and trends.
Audience BSA/AML offices, compliance officers, fraud team members, and auditors.
Day 1 | Topics
Recap of Major BSA/AML Trends During this update, we will focus on current BSA/AML trends and the regulatory guidance that outlines the responsibility for BSA/AML compliance.
Update of BSA Reform and Priorities – National Defense Authorization Act What is the status of the BSA Reform Priorities set forth in the National Defense Authorization Act? This session will focus on an update and discuss the key BSA/AML Priorities as well as recommendations for proactively meeting regulatory expectations.
FinCEN Updates and Impact of the FFIEC BSA/AML Examination Manual What are the recent updates to the BSA/AML Examination Manual? What are the key “MUST” regulatory expectations for financial institutions? This session highlights the key takeaways from these updates, focusing on enhancing the banks’ policies, procedures, and processes. Attendees will receive an updated FFIEC BSA/AML Examination Manual that contains all updates.
Preparing for the BSA/AML Examination – Learning from Recent Enforcement and Audit Findings Often bankers comment that enforcement actions only happen to the big banks. Regulators are encouraging senior management and boards to stay abreast of enforcement actions. During this session, we will examine recent consent order(s) with specific BSA violations to share with senior management. This session also includes recommendations and best practices for the ongoing organization of audits and examinations.
BSA/AML Compliance Risk Assessment The enhanced focus on using risk assessments to increase AML program effectiveness is consistent with federal and state regulatory priorities. Many recent BSA/AML regulatory exam findings cite that BSA/AML and OFAC risk assessments lack detailed analysis to identify risk within the customer base. We will focus on improving the BSA/AML risk assessment process and provide additional insight, tips, and recommendations.
Updating the Bank’s BSA/AML Compliance Program This session will discuss the key components of an “adequate” BSA/AML Compliance Program. The key focus will be what should be included in the bank’s BSA/AML Compliance Policy and Procedures.
Day 2 | Topics
What are the Examiner’s and Auditor’s BSA/AML Pulse Points? During this session, bankers have the opportunity to share and learn from other bankers and regulators about the current hot topics during recent examinations and audits.
High-Risk Products and Services and “Other Illicit Financial Activity” Taking a risk-focused approach to high-risk customers versus “The List” will require additional onboarding and due diligence. This session focuses on best practices for risk-focused high risks and other illicit financial activity.
Update on Cannabis Banking – From Hemp to Delta 8 to Weed Marijuana continues to be one of the key topics in financial institutions, with states legalizing medical or recreational marijuana. This session focuses on the key elements of banking and not banking cannabis-related products.
BSA and Fraud Coming Together and Cyber Crime Among all the different types of criminal activities, fraud-related activity generates the most illicit proceeds in monetary value. Since the pandemic, fraud has continued to rise. We’ll focus on how fraud and BSA come together to combat this national priority.
Hot Topics – Elder Abuse and How It Is Tied to Human Trafficking FinCEN recently issued new communications for these two threats. This session will focus on a review and an open discussion of “real world” options and best practices.
Peer AML Monitoring Discussion and Breakout Sessions Share information about monitoring common challenges, solutions, and tools with your peers.
OFAC and Sanctions Compliance Update FATF is the most important watchdog to deter jurisdictions that may allow money laundering, terrorist financing, and other illicit and corrupt activity in their countries. The latest OFAC updates, how our changing world impacts regulations, and best practices for maintaining OFAC compliance will be discussed.
What’s Ahead in 2023 – Tips, Tools, and Takeaways As we wrap up the program, we will highlight upcoming proposed rulemaking and key initiatives that are on the horizon.
Continuing Education Credit ABA Professional Certifications has approved this program for 13.25 CAFP, CRCM credits. Illinois Public Accounts will receive 12 CPE credit hours.
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
Fee Per Person Members $505 Nonmembers $875