ComplianceOnline

AML Risks in Correspondent Banking: What You Need to Know for 2017

Instructor: Joe Soniat
Product ID: 704997
  • Duration: 60 Min

recorded version

$279.00
1x Person - Unlimited viewing for 6 Months
(For multiple locations contact Customer Care)
Recorded Link and Ref. material will be available in My CO Section
Last Recorded Date: Feb-2017

Training CD

$499.00
One CD is for usage in one location only.
(For multiple locations contact Customer Care)
CD and Ref. material will be shipped within 15 business days

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Read Frequently Asked Questions

Correspondent banking has become a hot topic with BSA AML over the past few years. With examination scrutiny on correspondent banking high, this training program will highlight why it is essential to know the risk and what to do when it comes to banking other banks.

Why Should You Attend:

AML risks in correspondent banking - what do you need to know for 2017? In this webinar, attendees will learn the risk and responsibilities for being a correspondent bank in 2017 and what may be asked from you if you are a respondent bank.

Key takeaway from the session:

  • Knowing the risk of correspondent banking
  • The responsibilities of the correspondent and respondent bank
  • US regulations dealing with correspondent banking
  • Financial Action Task Force (FATF) recommendations on correspondent banking
  • Know your customer / customer due diligence for correspondent banking

Areas Covered in the Webinar:

  • Knowing the risk of correspondent banking
  • The responsibilities of the correspondent and respondent bank
  • US regulations dealing with correspondent banking
  • Financial Action Task Force (FATF) recommendations on correspondent banking
  • Know your customer/customer due diligence for correspondent banking
  • When to perform enhanced due diligence
  • What is nesting
  • Knowing the customer’s customer
  • Communications between correspondent bank and respondent bank
  • OFAC responsibilities of correspondent banking

Who Will Benefit:

  • BSA/AML Officers
  • Compliance Officers
  • Enterprise Risk Managers
  • Bank Compliance Officers and Assistants
  • Bank Secrecy Act Officers and Assistants
  • Bank Secrecy Act Analysts
  • Credit Union Compliance Officers
  • Internal Auditors
  • Risk Managers
  • Staff with BSA/AML oversight responsibilities
  • Anyone who deals with correspondent banking risk
Instructor Profile:
Joe Soniat

Joe Soniat
Bank Secercy Act Officer, Union Bank and Trust

Robert J. Soniat (Joe) is the BSA officer for Union Bankshares Corporation, located in Richmond, Virginia. He also worked as a finance officer for the United States Government from 2002 – 2004. He holds a Bachelor’s of Science in Accounting from Virginia Commonwealth University as well as minors in criminal justice and international relations. Since his time at VCU, Mr. Soniat has been looking for ways to help fight financial crimes and money laundering; it was not until he came to Union Bankshares he found that he could be on the front lines in BSA.

Mr. Soniat is the officer of the BSA AML programs for Union Bankshares Corporation, all three banks and its subsidiaries. In October of 2008, he became a Certified Anti Money Laundering Specialist (CAMS). He is also a BSA Coalition Advisory Board Member, which consists of bankers and regulatory representatives from various federal and state banking agencies from the fifth district of the Federal Reserve.

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Refund Policy

Registrants may cancel up to two working days prior to the course start date and will receive a letter of credit to be used towards a future course up to one year from date of issuance. ComplianceOnline would process/provide refund if the Live Webinar has been cancelled. The attendee could choose between the recorded version of the webinar or refund for any cancelled webinar. Refunds will not be given to participants who do not show up for the webinar. On-Demand Recordings can be requested in exchange.

Webinar may be cancelled due to lack of enrolment or unavoidable factors. Registrants will be notified 24hours in advance if a cancellation occurs. Substitutions can happen any time.

If you have any concern about the content of the webinar and not satisfied please contact us at below email or by call mentioning your feedback for resolution of the matter.

We respect feedback/opinions of our customers which enables us to improve our products and services. To contact us please email customercare@complianceonline.com call +1-888-717-2436 (Toll Free).

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