BSA Compliance Series:
Job-Specific BSA Training for the Frontline: CTRs, SARs, CIP & More
Tuesday, October 24, 2017
12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET
Job-specific BSA training has been emphasized in the BSA Examination Manual for several years. Frontline BSA responsibility is a huge part of a successful examination process. Simply doing the same training program each year will not be adequate. Money laundering activities continue to evolve and frontline training must keep pace with emerging risks. This session will cover the basic expectations for completing CTRs; scenarios for reporting suspicious activity and recent trends in SARs; and the framework for an effective customer identification program for opening new accounts. Join us for a fast-paced review of the basics and also learn about emerging money laundering red flags in 2017.
Continuing Education: Attendance verification for CE credits upon request
- The "fifth pillar" – Beneficial Ownership Rules – will be added next year
- What does the frontline need to know when deposit or loan accounts are opened?
- Key questions to ask during the new account interview or loan application
- What are the best risk assessment practices for CDD and EDD in 2017?
- What changes must be made for 2018?
- Tips for monitoring an effective customer identification program (CIP), including case studies
- Recent enforcement actions have focused on a failure to identify, monitor, and report suspicious activity
- Learn important tips to help the frontline staff understand the SAR requirements
- Money laundering red flags and the current trends
- Case studies of common CTR reporting errors
- Examples of structuring a transaction – the most common reason for SARs
- TAKE-AWAY TOOLKIT
- SAR checklist to identify, monitor, and report suspicious activity based on BSA exam procedures and the risk assessment process
- Sample BSA Responsibility Matrix, including SAR monitoring and CIP
- Sample CDD policy for new beneficial ownership requirements and the fifth pillar of BSA
- Compliance review checklist for CTRs
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
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WHO SHOULD ATTEND?
This informative session will benefit all employees who open and service accounts. The session is designed for tellers, new account representatives, customer service representatives, call center employees, loan officers, loan assistants, branch managers, BSA officers, BSA support staff, and anyone involved in the BSA program.
PLEASE NOTE: Program content is subject to copyright and intended for your individual financial institution’s use only.
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