Bank Secrecy Act Audit Best Practices
Tuesday, 23 January 2018 10:00 AM PST, 01:00 PM EST
Training Duration = 60 Min Sponsored by Online Compliance Panel
Financial institutions are required to be compliant with BSA rules and regulations. Such compliance needs to be well documented and consistent to ensure financial institutions avoid BSA violations and implications.
Financial institutions' BSA Programs must have adequate policies and procedures, comprehensive risk assessments, monitoring programs, training programs, qualified employees overseeing the BSA daily operations and independent testing programs.
An effective BSA audit program will ensure that all these components are not only implemented but are appropriate, adequate and thorough to meet the BSA rules and regulations and the needs of the financial institution.
Having a strong BSA audit program will ensure that financial institutions are proactive in preventing BSA violations occurring and implementing corrective action for BSA issues or implications that may be identified in the BSA program.
Why Should You Attend:
Although financial institutions have been managing BSA operations as per the regulation requirements, the change in focus to BSA audits has been coming increasingly important. Regulators look to the Bank for assurance and evidence that BSA operations are being appropriately audited to ensure that the efforts are appropriately implemented and overseen.
This session highlights BSA audit best practices that are being acknowledged and recognized by regulators and examiners. In this webinar, we will discuss the areas that regulators and examiners are primarily focusing on with regards to BSA audits. The areas of focus outlined in this webinar are based on best industry practices and supervisory experience.
Dr. Gina J. Lowdermilk, PhD (ABD), CAMS, CRMS is a qualified BSA/AML and Financial Regulatory Compliance professional with extensive policy and procedure development and implementation, training, internal audit, monitoring, risk management, and reporting experience.
Her emphasis has been on working with financial institutions that are experiencing regulatory concerns and resolutions, including enforcement actions such as memorandums of understanding and cease and desist orders. Her 15 years of experience has given her the opportunity to work with small community banks to large international financial institutions. Her roles not only included BSA/AML and Compliance, but also operations, lending services, business development, marketing, management, department development, and asset quality.
Ms. Lowdermilk has worked with all of the financial regulators and examiners. She possesses advanced Microsoft Excel, PowerPoint, Word, Internet Explorer, Visio, and Access skills. She also has experience with FiServ, BAM, CRA Wiz, TeamMate, COGNOS, and Metavante banking software. Gina has been responsible for creating both recurring and ad hoc executive management and board presentations.
In addition to her above experience, she is also an adjunct instructor for the business and construction management programs at a local college, as well as writes numerous BSA/AML and Compliance articles, training materials, and manuals as per clients’ requests.