Conference Description:

Managing an Effective AML Compliance Program


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Are the financial transactions within your organization subject to money laundering risk? Do you have a robust internal controls program that focuses on mitigating the greatest AML/Fraud risks? Are your employees aware of the red flags within all financial transaction business processes and know what to do if they find unusual or suspicious activity? Are your company and management up to date on its compliance requirements and the potential impact of non-compliance?

Whether you need to get back-to-basics or you are a seasoned AML professional, join us as we explore the many facets of managing an effective AML compliance program:

Regulatory frameworks surrounding anti-money laundering

Objectives of an effective AML compliance program

Risk assessing your institution

Developing robust internal controls

Training for appropriate personnel

Expectations and duties of the appointed compliance officer

Effective audit program to ensure adequacy of your AML compliance program



Seminar Fee Includes:
Lunch
AM-PM Tea/Coffee
Seminar Material
USB with seminar presentation
Hard copy of presentation
Attendance Certificate
$100 Gift Cert for next seminar

Learning Objective:

Key goals of this course are:

To provide an understanding of money laundering and how it can impact an institution

To review the importance of “tone at the top” and how to implement a compliance-friendly environment

To learn about the critical internal controls and how these controls can protect your institution

The course will focus on the 4 pillars of an AML compliance program:

Policies, procedures and internal controls

Designation of a compliance officer

Training for appropriate personnel

Independent audit

To understand the importance of the risk assessment

To focus on the senior management/board of directors oversight of the Program

To discuss customer due diligence and know your customer expectations

To discuss knowing your high risk customers

To review implementation steps for enhanced customer due diligence

To discuss red flags indicating unusual or suspicious activity

To understand detection and reporting requirements under the Bank Secrecy Act

To discuss recent case studies



Who Will Benefit:

BSA/AML Officers, Compliance Officers, AML Analysts, Operations Managers, Remittance Analysts, Consultants, Internal Auditors, Accounting and Finance Directors, Internal Auditors, Legal Departments, Compliance Officers, and Risk Managers at Banks, Broker-Dealers, Residential Mortgage Lenders & Originators, Precious Gems Traders, Money Services Businesses and other nonbank financial institutions.

Risk Management

Legal

Regulatory

Compliance

Audit

Field of Study:

Administrative Practice: 1.2 Credits
Auditing: 0.6 Credit
Business Management & Organization: 7.8 Credits
Communications: 2 Credits
Computer Science: 1.8 Credits
Personnel/HR: 0.6 Credit
Social Environment of Business: 1 Credit
Specialized Knowledge and Applications:2 Credits
Total CPE credits earned in this seminar: 17 CPE Credits


AGENDA

Day 01(8:30 AM - 5:00 PM)

Registration Process: 8:30 AM – 9:00 AM
Session Start Time: 9:00 AM
9.00 AM - 12.00 PM: Understanding the Basics (3 Hours)
Money Laundering Basics
Regulatory Overview
U.S. Federal Regulating Agencies
History of U.S. Money Laundering Regulation
Bank Secrecy Act
USA PATRIOT Act
U.S. Federal Statutes
Role of Regulators & Expectations
The Four Pillars
Policies, procedures & internal controls
Appointment of Compliance Officer
AML Training
Independent Testing
Oversight & Management
“Tone at the Top”
AML Governance
Compliance Task Force
Fostering Partnerships in LOBs
12.00 - 1.00 PM: Lunch
1.00 PM - 4.30 PM: Managing Money Laundering Risk (3.5 hours)
Developing a Risk Assessment
Identifying high risk activities in the institution
Knowing your high risk customers
Customer Identification Program (CIP)
Conducting Customer Due Diligence (CDD)
Enhanced Due Diligence (EDD)
Know Your Customer (KYC)
Office of Foreign Assets Control (OFAC) & Sanctions Programs
Multinational Issues
History of Economic Sanctions Programs
Screening tools
Hits – Blocking & Rejecting
OFAC Risk Assessments
OFAC Reporting & Documentation
Enforcement Guidelines



Day 02(8:30 AM - 4:30 PM)

8.30 AM - 8.35 AM: Welcome & Recap of Previous Topics
8.35 AM- 10.35 AM: Monitoring & Reporting of Suspicious Activities (2 Hours)
Transaction Monitoring
Manual Vs. Automated
Managing & Fine Tuning Alerts
Investigate Protocols
Defining Suspicious Activity
Escalation & Referrals
Case Management
Reporting & Recordkeeping
CTR & CTR Exemptions
CMIR
Travel Rule / Funds Transfers
Monetary Instruments
FBAR
Form 8300
SARs
10.35 - 11.15 PM: Repercussions (40-Minutes)
Failure to Comply
Criminal & Civil Penalties
Common Deficiencies Causing Enforcement
11.15-12.00 PM: Case Studies (45-Minutes)
Case Studies
What Went Wrong?
Contrast & Compare
12.00 PM - 12.45 PM: Lunch
1.00 PM - 1.45 PM: Issues & Answers: Open Discussion (45-Minutes)
1.45 PM - 4.15 PM: Workshop & Exercises (150 minutes)
4.15 PM - 4.30 PM: Wrap Up



SPEAKER

Laura H. Goldzung
President and Founder of AML Audit Services, LLC

Laura H. Goldzung, CAMS, CFE, CFCS, CPAML. CCRP is the President and CEO of AML Audit Services, LLC (“AMLAS”), a boutique consultancy specializing in independent testing of anti-money laundering compliance programs for bank and nonbank institutions, and serves as its principal examiner. In addition, her expertise includes custom training, and compliance consulting services, which includes design Bank Secrecy Act/Anti-Money Laundering and Anti-Fraud compliance programs, custom training, and compliance consulting services.

In a career spanning more than 35 years across multiple sectors of the financial services industry, Ms. Goldzung has worked in a variety of executive leadership roles. Since founding AMLAS, she has co-created sector-specific compliance officer certification programs and presents various AML/Anti-Fraud topics for industry-leading organizations, and has authored many articles on the topic of AML. Ms. Goldzung has worked with financial institutions that have been referred to enforcement for BSA/AML violations, helping them to bring their AML programs into compliance.

Ms. Goldzung serves as a dispute resolution arbitrator and is active with several industry groups including the Association of Certified AML Specialists, Association of Certified Fraud Examiners, Association of Certified Financial Crime Specialists, National Society of Compliance Professionals, SIFMA Compliance & Legal Society and Institute of Internal Auditors. She serves on a variety of industry task forces and committees, and contributes to a number of compliance, industry and university education programs.



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