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Knowing Your Customer - Monitoring and Auditing for PEPs and Other High Risk Customers

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This Bank Secrecy Act (BSA) compliance training will highlight the importance of knowing your customer when it comes to monitoring and auditing Politically Exposed Persons (PEPs) and high risk customers.

Speaker
Instructor: Gina Lowdermilk
Product ID: 702955

Why Should You Attend:

Although financial institutions have been managing BSA operations per the regulation's requirements, the increased risk that is associated with PEPs and other high risk customers has been under more scrutiny by regulators and examiners. Regulators look to the bank for ensuring and for evidence that BSA operations are appropriately identifying, monitoring, and auditing PEPs and high risk customers.

This webinar highlights BSA audit best practices that are being acknowledged and recognized by regulators and examiners. In this webinar, we will discuss the areas that regulators and examiners are primarily focusing on with regard to PEPs and high risk customers. The areas of focus outlined in this webinar are based on best industry practice, supervisory experience and cover the major components of an effective BSA program when it comes to PEPs and high risk customers. It will look at these areas and the specifics of each area as it pertains to monitoring and auditing.

Areas Covered in the Webinar:

Who Will Benefit:

This will be beneficial for the following personnel in financial institutions and money services businesses:

Instructor Profile:

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. Ms. Lowdermilk's 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. She has worked with all of the financial regulators and examiners. 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.

Key Career Accomplishments:

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 policies and procedures which help them verify the identification of their customers, specifically those that may be considered high risk. PEPs and other customers deemed high risk need to be carefully monitored and audited to help mitigate the risks that are commonly associated with the. Institutions are taking reasonable steps to ensure that they do not knowingly assist in hiding or moving the proceeds of corruption by senior foreign political figures, their families, and their associates. As a result of PEPs risks varying by customer, product/service, country, and industry, it is important that the institutions identifying, monitoring, and designing controls for these accounts and transactions are risk-based.

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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 only 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."
For substitution, please email editor@complianceonline.com or call +1-650-620-3937.

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Training Options Training Duration = 60 Min
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Recorded Link and Ref. material will be available in My CO Section
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