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AML/BSA Boot Camp  

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training seminars by ComplianceOnline ComplianceOnline   

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Bank Compliance Officers and Assistants, Bank Secrecy Act Officers and Assistants, Bank Secrecy Act Analysts, Credit Union Compliance Officers, Internal Auditors

Cost:   

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Seminar Summary:

Attend this AML/BSA Boot Camp to learn 4 pillars of BSA, roles of FinCEN, OFAC and the USA Patriot Act. The workshop will focus on framework, education and tools needed to manage BSA/AML. (see full course description)

 

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Training Course Syllabus:


AML/BSA Boot Camp

Course Description:

The BSA / AML / OFAC Compliance Officer is responsible for developing, implementing and administering all aspects of the Bank Secrecy Act Compliance Program, and for assuring that the bank is in compliance with the Bank Secrecy Act, USA Patriot Act, OFAC, and all other applicable laws.

Currency Transaction Reports and Bank Secrecy Act began in 1970. While the basic premise has remained the same, the amount of bureaus and regulations has reached staggering proportions. The BSA exam manual is now 442 pages. The Treasury Department has designated FinCEN, Financial Crimes Enforcement Network, to oversee the Bank Secrecy Act. Civil Monetary Penalties for non compliance from thousands to millions of dollars continue to make headlines. Willful disobedience can be blamed on the board of directors down to the compliance department.

The federal government requires all banks and credit unions to have a board designated Bank Secrecy Act Officer. FinCEN also requires the BSA Officer and team are well qualified and trained to carry out the duties of this important position. Employees at the financial institutions are required to have initial and ongoing training on money laundering and BSA. Many people choose to outsource employee training, but this course will teach the teachers how to teach. You will be recognized within the bank or credit union as the go to expert.

This interactive two day class prioritizes and focuses on the framework, education and tools needed to properly manage this department within a financial institution. Attendees will participate in case studies, discussions and real world scenarios that they can take back to their departments to implement regardless of their asset size.

Learning Objectives:

Learn how the four pillars of BSA need to be implemented with appropriate policies and procedures to effectively manage compliance within the laws.
Learn different agendas to train the board of directors, lenders, loan processors, customer service, tellers and other front line staff.
Learn about monitoring for and completing currency transaction reports.
Learn about monitoring for and completing suspicious activity reports.
Learn how to bank money service businesses that they and your bank will appreciate.
Learn how the roles of FinCEN, OFAC and the USA Patriot Act impact your institution.
Learn how to think like a crook so you develop that "gut feeling".

Areas Covered in the Seminar:

4 Pillars of BSA/AML Program
Board Training and Job Specific Training
Case Studies
Currency Transaction Reports
Suspicious Activity Reports
Money Service Businesses
FinCEN
OFAC
USA Patriot Act
Customer Identification Program
Customer Due Diligence
Enhanced Due Diligence

Course Outline:
Day 1 (8:30 AM – 5:00 PM)


8:30 – 9:00 AM: Registration
9:00 AM: Session Start Time

9:00 - Program outline. Why BSA? How did it get started? How to operate it?
9:15 - How to take notes
Items to study
Need action plan to implement
Need to update policy or procedure
9:30 - 4 Pillars of BSA/AML Program
System of internal controls to monitor compliance
Currency Transaction Reports
Monetary Instrument Logs
Wire Transfers
Paypal and other virtual or digital currency
Independent testing
Board designated BSA Officer/staff
Training for staff - How to train your board and employees
10:30 - Break
10:45 - Board Training
11:00 - Job Specific Training
11:15 - Front Line Training
11:45 - Morning wrap up. Case Study
12:00 - Lunch
1:00 - Currency Transactions
Aggregating Large Currency Transactions
The New “BSA – CTR”Electronic Form
CTR Exemptions
Monetary Instrument Logs
2:00 CTR Case Studies
2:15 Break
2:30 Suspicious Transactions
Detecting
Investigating ( Including proper use of the 314b Voluntary Sharing to make your investigations more effective)
Reporting – The New “BSA-SAR” Electronic Form
3:30 - SARS by the numbers
3:45 - Break
4:00 - Money Service Businesses
4:30 - Day 1 review. Case Study. How would you launder money?
5:00 - Dismiss

Day 2 (9:00 AM – 4:30 PM)


9:00 - Day one review
9:15 - The role of FinCEN
9:30 - The role of OFAC
9:45 - USA Patriot Act
10:00 - 314A scans and other watch lists
10:15 - Discuss current exams
10:30 - Break
10:45 - Risk Assessment
Tailoring to the Financial Institution
Risk Rating of Customers
11:45 - Morning Wrap Up. Questions
12:00 - Lunch
1:00 - CIP (Customer Identification Program)
1:30 - CDD (Customer Due Diligence)
2:00 - EDD (Enhanced Due Diligence)
2:30 - Break
3:00 - BSA tools and software
3:30 - BSA for Tellers: Detecting Suspicious Activities
4:00 - Case Studies, Questions, Wrap up.
4:30 - Dismiss

Seminar Summary:

Attend this AML/BSA Boot Camp to learn 4 pillars of BSA, roles of FinCEN, OFAC and the USA Patriot Act. The workshop will focus on framework, education and tools needed to manage BSA/AML. (see full course description)

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