MSB Due Diligence & Monitoring for Community Banks

Registration Options and Pricing

Please select your membership status.

Wednesday, September 21, 2016

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

Determining whether or not to work with a money service business (MSB) is a challenging task for many smaller banks. Unlike larger banks who have economies of scale to develop standard procedures for working with MSBs, smaller banks are often uncomfortable with these entities and just avoid working with them altogether. While this business model is permitted, working with MSBs can provide community benefits, help with customer relationships, and provide additional income. Having the right resources to manage MSBs can help banks significantly reduce the associated risks and help management feel comfortable about these relationships.

This webinar is designed to address best practices in working with MSBs. It will provide an overview, cover how to determine if an MSB is a good fit, provide due diligence best practices, and give attendees a roadmap for ongoing monitoring. Those who have MSB relationships will benefit – and so will banks that don’t, but anticipate entering this market. (While specifically designed for banks under $1 billion in assets, this program may benefit banks of all sizes.)

Continuing Education: Attendance verification for CE credits upon request


  • Overview of MSBs
    • Defining MSBs and understanding their different structures
    • MSB registration and program requirements
    • Independent reviews
    • MSB, SAR, and other requirements
  • Compatibility – determining if an MSB is a good fit for your bank
  • Designing an MSB management system
    • Gathering information
    • Initial due diligence
  • Ongoing monitoring

    • MSB management model that includes a sample risk assessment, due diligence checklist, and template for ongoing monitoring
    • Employee training log
    • Quiz you can administer to measure staff learning and a separate answer key


This informative session is designed for MSB managers and BSA officers, team members, and supervisors.

PLEASE NOTE:    Webinar content is subject to copyright and intended for your individual financial institution’s use only.