Monitoring High Risk Transactions
Tuesday, 07 August 2018 10:00 AM PDT, 01:00 PM EDT
Training Duration = 60 min Sponsored by Online Compliance Panel
This BSA/AML (Bank Secrecy Act/ Anti Money Laundering) compliance training will help attendees understand, identify and mitigate the risks associated with high risk transactions.
Why Should You Attend:
An effective BSA/AML compliance program controls risks associated with the institution's products, services, customers, entities, and geographic locations; therefore, an effective risk assessment should be an ongoing process, not a one-time exercise. Monitoring your risks includes monitoring your transactions, especially your high risk transactions.
Per the FFIEC Manual: The development of the BSA/AML risk assessment generally involves two steps: first, identify the specific risk categories (i.e., products, services, customers, entities, transactions, and geographic locations) unique to the institution and second, conduct a more detailed analysis of the data identified to better assess the risk within these categories.
Several examples of a system of internal controls will help you document your monitoring program.
Doug Keipper, is a Certified Anti-Money Laundering Specialist (CAMS) since 2005 and former BSA officer and compliance officer for an $800M commercial bank in Atlanta before it sold twice in one year.
He teaches anti-money laundering throughout the southeast and online. He has spent over 20 years in retail banking, wholesale mortgages and financial services.