Leadership & BoD Obligations Under AML, BSA & OFAC

Instructor: Michelle Martin
Product ID: 703613
  • Duration: 60 Min

recorded version

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Recorded Link and Ref. material will be available in My CO Section

Training CD

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Read Frequently Asked Questions

This webinar will highlight the duties and financial risk of board of directors, business owners and upper management under Anti-Money Laundering (AML), Bank Secrecy Act (BSA), and Office of Foreign Assets Control (OFAC) regulations.

Why Should You Attend:

This webinar will cover all the elements board of directors and business owners must pay attention to in order to ensure adequate oversight of their AML/BSA/OFAC program.

Under the AML/BSA/OFAC rules, board of directors and business owners are tasked with the primary responsibility of ensuring that their business has a comprehensive and effective AML/BSA/OFAC compliance program. Over recent years, they have been fined personally for failing to fulfil their obligations.

Board of directors and business owners are also responsible for the oversight framework which must be reasonably designed to ensure compliance with AML/BSA/OFAC regulations. It must specifically address the following areas:

  • Policies, procedures and internal controls
  • Designation of compliance officer
  • Training
  • Independent testing

This course will address upper management’s roles and responsibilities in AML/BSA/OFAC compliance, case studies of breaches and its resulting penalties, and obligations under sanctions.

Areas Covered in the Webinar:

  • Board of Directors / Business Owners Role and Responsibilities in AML/BSA/OFAC
  • Board of Directors / Business Owners Concerns
  • Characteristics of an Efficient Board
  • Upper Management Roles and Responsibilities in AML/BSA/OFAC
  • AML/BSA/OFAC Corporate Governance
  • Breaches – Board of Directors/Business Owners/Upper Management Liability, Impact on Businesses, Case Study, Penalties
  • Obligations under Sanctions

Who will Benefit:

  • Members of Board of Directors
  • Business Owners
  • Upper Management such as CEO, CFO, COO, CRO, CTO
  • Chief Auditors
  • Risk Officers
  • Operational Risk Managers

Instructor Profile:

Michelle Martin, is an Anti-Money Laundering consultant. She is president of ComplianceAid and a partner at She is an accomplished professional with over twenty years of experience in banking, trust, credit union, insurance, financial services, regulatory compliance, and public and private accounting. Ms. Martin is a Certified Anti-Money Laundering Specialists (CAMS) and founding co-chair of the ACAMS South Florida Chapter. She is also an Accredited Claims Adjuster.

In the course of her twenty years’ experience, she has worked for firms like KPMG, LLP, Ernst & Young LLP, Burger King Corporation, Assurant, Inc., Ocean Bank and Banco Do Brasil. Ms. Martin’s portfolio of clients includes Fortune 500 corporations, international and regional businesses, central banks, regulatory agencies and governments located in 27 countries including the United States.

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