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Foreign Correspondent Banking: AML Risks, De-Risking Issues, and Current Trends

Wednesday, 22 August 2018   12:00 PM PDT, 03:00 PM EDT

Training Duration = 60 min                  Sponsored by Online Compliance Panel

Click Here to register $200.00

Click Here to register and receive CD recording $400.00

Learn the risks involved with foreign correspondent banking, the laws and regulations that apply to the foreign correspondent banking relationships, the issues related to "de-risking", and current trends related to foreign correspondent banking.

Learning Objectives:

  • Risks related to foreign correspondent banking
  • US regulations addressing foreign correspondent banking
  • Responsibilities of the correspondent and respondent bank
  • KYC, CDD/EDD and the suspicious activity process
  • FFIEC recommended examination procedures
  • How nesting should be addressed by the respondent bank
  • The need for ongoing communication between the correspondent and the respondent

Why Should You Attend:

There has been a recent focus on the risks related to a bank on boarding and maintaining a foreign correspondent banking relationship with another bank. In addition to a bank needing to fully understand the KYC and CDD needed and required to have this relationship, a bank needs to know what bank regulators expect a bank to do to maintain foreign correspondent banks as customers.

This course will discuss the many issues related to KYC, CDD, risk rating, and the suspicious activity process as these relate to maintaining foreign correspondent relationships. In addition, the course will discuss the "de-risking" and other current trends related to foreign correspondent banking.

Instructor

Tom Nollner has over 35 years of experience in the banking regulatory field. His experience includes 30 years as a National Bank Examiner for the Office of the Comptroller of the Currency, United States Treasury and 5 years as an international banking consultant.

He has a proven track record in assisting financial institutions regarding capital adequacy, asset quality, management issues, earnings concerns, and liquidity. In addition, Tom is a consumer specialist focusing on developing and instituting risk management processes, and in implementing anti-money laundering related programs and policies.

Tom has developed and presented numerous training programs focusing on banking issues, to regulatory authorities, government bodies, and the staff of financial institutions in countries in North America, Asia, the Middle East, the Caribbean, and South America.

In addition, he has developed banking policies and examination procedures for regulatory authorities, and assisted Financial Intelligence Units and Central Banks with improving existing banking laws and regulations.