Conference Description:

BSA/AML/OFAC Risk Assessments - Are You Doing Them Correctly


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Although financial institutions have been managing BSA operations as per the regulatory requirements, the change in focus to appropriate BSA/AML/OFAC risk assessment has become increasingly important. Regulators look to the organization for insurance and evidence that BSA operations are appropriately performing risk assessments. Appropriate risk assessments are essential in an organization’s strategic planning and development, as well as ensuring compliance with laws and regulations.

This Bank Secrecy Act risk assessment seminar will highlight BSA best practices that are being acknowledged and recognized by regulators and examiners and will discuss each risk assessment area. Attendees will learn how to conduct a comprehensive review of their current organization’s BSA/AML/OFAC risk assessment.
Learning Objectives:

Key goals of this BSA risk assessment course are:

To review and evaluate policies and procedures for risk assessments

To help identify your organization’s risks

To determine your organization’s risk threshold based on the organization’s strategic plans and business models

To discuss how to conduct a comprehensive review of your organization’s BSA/AML/OFAC risk assessment, including

Determining completeness of the risk assessments

Determining the thoroughness of risk assessments

Determining if current risk assessment matrixes are appropriate for your organization

To discuss how to establish risk assessments for your organization, specifically:

BSA risk assessments

AML risk assessments

OFAC risk assessments

To illustrate how to perform the risk assessments

To highlight the need for periodically reviewing risk assessments to determine if they are still relevant, appropriate, and adequate

To discuss implementing a BSA/AML/OFAC risk assessment program at your organization



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

Who Will Benefit:

BSA / AML Officers

Internal Auditors

Staff with Roles and Responsibilities in BSA/AML Management and Oversight

Money Service Business BSA/AML Officers

Corporate Auditors

Risk Managers

Legal Department Personnel

Regulators

Compliance Officers



Topic Background:

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 risk assessment policies and procedures along with monitoring programs, training programs, and qualified employees overseeing the BSA daily operations and independent testing. An effective BSA risk assessment program will ensure that all areas are being evaluated for risk appropriately and being monitored on a routine basis. However, to accomplish this, your financial institution must not only have the appropriate risk assessment procedures in place, but also be performing them correctly.


AGENDA

Day 01(8:30 AM - 4:30 PM)

8:30 – 9:00 AM: Registration
9:00 AM: Session Start Time
Welcome and Introductions (30 Minutes)
Understanding the Basics (1 Hour)
Risk Assessment 101
What is a risk?
Risk and your business objectives
Types of risks
Consequences of failing to recognize risks
Lack of risk monitoring implications
Establishing the Importance of Proper Risk Assessing (1 Hour)
Board of Directors and Senior Management Involvement
Implementing a risk assessment which best reflects the organization’s goals and objectives
Examples of involvement
Roles and responsibilities
Reviewing and Determining Risks
Who is responsible for determining risks?
How do you know that your risk rating is appropriate?
Establish Appropriate Risk Ratings
Types of risk ratings
Who reviews and approves risk ratings?
Example: risk rating determination spreadsheet
When Risk Ratings Don’t Make Sense
Changing risk ratings
Ensuring reasons are documented to support risk ratings
Establishing Risk Matrixes (5 Hours)
BSA Risk Assessments
Definition
Examples
AML Risk Assessments
Definition
Examples
OFAC Risk Assessments
Definition
Examples



Day 02(8:00 AM - 12:00 PM)

Compliance Consideration
BSA/AML
The Office of Foreign Assets Controls (OFAC)
Massive Fines for Non-compliance
Examples of How Incorrect Risk Ratings Affect an Organization
Continuous Monitoring
What is Considered Continuous Risk Assessment Monitoring
The Pros and ConsGina Lowdermilk
BSA/Compliance Auditor and Consultant



SPEAKER

Gina Lowdermilk

Dr. Gina J. Lowdermilk,PhD (ABD), CAMS, CRMS is a highly experienced and educated 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 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 from 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. She 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 requested from numerous clients.



Please contact the event manager Marilyn ([email protected] ) below for:
- Multiple participant discounts
- Price quotations or visa invitation letters
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