- Banking & Financial Services
- BANKING & FINANCIAL SERVICES
- Banks and Credit Unions
- Financial Services and Trading
- Insurance
- Accounting and Taxation
- Life Sciences
- Hitech, Aero & Manufacturing
- HITECH, AERO & MANUFACTURING
- Quality & Safety
- Standards and Methodology
- Energy & Utilities
- ENERGY & UTILITIES
- IT Security
- Reliability (NERC / FERC)
- Quality and Safety
- Risk Management
- CPG & Retail
- CPG & RETAIL
- Retail Audit
- Quality & Safety
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- Cross Industry Functions
"AML/BSA Boot Camp" - ComplianceOnline is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. CPE credits offered : 16.5
The BSA / AML / OFAC Compliance Officer is responsible for developing, implementing and administering all aspects of the Bank Secrecy Act Compliance Program, and for assuring that the bank is in compliance with the Bank Secrecy Act, USA Patriot Act, OFAC, and all other applicable laws.
Currency Transaction Reports and Bank Secrecy Act began in 1970. While the basic premise has remained the same, the amount of bureaus and regulations has reached staggering proportions. The BSA exam manual is now 442 pages. The Treasury Department has designated FinCEN, Financial Crimes Enforcement Network, to oversee the Bank Secrecy Act. Civil Monetary Penalties for non compliance from thousands to millions of dollars continue to make headlines. Willful disobedience can be blamed on the board of directors down to the compliance department.
The federal government requires all banks and credit unions to have a board designated Bank Secrecy Act Officer. FinCEN also requires the BSA Officer and team are well qualified and trained to carry out the duties of this important position. Employees at the financial institutions are required to have initial and ongoing training on money laundering and BSA. Many people choose to outsource employee training, but this course will teach the teachers how to teach. You will be recognized within the bank or credit union as the go to expert.
This interactive two day class prioritizes and focuses on the framework, education and tools needed to properly manage this department within a financial institution. Attendees will participate in case studies, discussions and real world scenarios that they can take back to their departments to implement regardless of their asset size.
Learning Objectives:
- Learn how the five pillars of BSA need to be implemented with appropriate policies and procedures to effectively manage compliance within the laws.
- Learn about the latest updates to CDD Rules on beneficial owners
- Learn different agendas to train the board of directors, lenders, loan processors, customer service, tellers and other front-line staff.
- Learn about monitoring for and completing currency transaction reports.
- Learn about monitoring for and completing suspicious activity reports.
- Learn how to bank money service businesses that they and your bank will appreciate.
- Learn how the roles of FinCEN, OFAC and the USA Patriot Act impact your institution.
- Learn how to think like a crook so you develop that "gut feeling".
Areas Covered in the Seminar:
- 5 Pillars of BSA/AML Program
- Board Training and Job Specific Training
- Case Studies
- New faces of Money Laundering
- Currency Transaction Reports
- Suspicious Activity Reports
- Money Service Businesses
- FinCEN
- OFAC
- USA Patriot Act
- Beneficial Owners and Updated Customer Identification Program
- Risk Based Procedures and Customer Due Diligence
- Enhanced Due Diligence
Who will Benefit:
- Bank Compliance Officers and Assistants
- Bank Secrecy Act Officers and Assistants
- Bank Secrecy Act Analysts
- Credit Union Compliance Officers
- Internal Auditors
- Staff with BSA/AML oversight responsibilities
- Risk Managers
Field of Study:
- Auditing: 2.4 CPE Credits
- Business Management & Organization: 4.8 CPE Credits
- Regulatory Ethics: 9.3 CPE Credits
- Total CPE credits earned in this workshop: 16.5 CPE Credits
Program Delivery Method: Group-Live
Program Level: Intermediate
Advance Preparation/Program Prerequisites: None
- Registration Process: 8:30 AM – 9:00 AM
- Session Start Time: 9:00 AM
- 9:00 - Program outline. Why BSA? How did it get started? How to operate it?
- 9:15 - How to take notes
- Items to study
- Need action plan to implement
- Need to update policy or procedure
- 9:30 - 4 Pillars of BSA/AML Program
- System of internal controls to monitor compliance
- Currency Transaction Reports
- Monetary Instrument Logs
- Wire Transfers
- Paypal and other virtual or digital currency
- Independent testing
- Board designated BSA Officer/staff
- Training for staff - How to train your board and employees
- System of internal controls to monitor compliance
- 10:30 - Break
- 10:45 - Board Training
- 11:00 - Job Specific Training
- 11:15 - Front Line Training
- 11:45 - Morning wrap up. Case Study
- 12:00 - Lunch
- 1:00 - Currency Transactions
- Aggregating Large Currency Transactions
- The New “BSA – CTR”Electronic Form
- CTR Exemptions
- Monetary Instrument Logs
- 2:00 CTR Case Studies
- 2:15 Break
- 2:30 Suspicious Transactions
- Detecting
- Investigating ( Including proper use of the 314b Voluntary Sharing to make your investigations more effective)
- Reporting – The New “BSA-SAR” Electronic Form
- 3:30 - SARS by the numbers
- 3:45 - Break
- 4:00 - Money Service Businesses
- 4:30 - Day 1 review. Case Study. How would you launder money?
- 5:00 - Dismiss
- 9:00 - Day one review
- 9:15 - The role of FinCEN
- 9:30 - The role of OFAC
- 9:45 - USA Patriot Act
- 10:00 - 314A scans and other watch lists
- 10:15 - Discuss current exams
- 10:30 - Break
- 10:45 - Risk Assessment
- Tailoring to the Financial Institution
- Risk Rating of Customers
- 11:45 - Morning Wrap Up. Questions
- 12:00 - Lunch
- 1:00 - CIP (Customer Identification Program)
- 1:30 - CDD (Customer Due Diligence)
- 2:00 - EDD (Enhanced Due Diligence)
- 2:30 - Break
- 3:00 - BSA tools and software
- 3:30 - BSA for Tellers: Detecting Suspicious Activities
- 4:00 - Case Studies, Questions, Wrap up.
- 4:30 - Dismiss
Armen Khachadourian
President and Founder, Digital Payments LLC
Armen Khachadourian is the founder and president of Digital Payments Inc, a consulting firm providing advisory services in the areas of merchant processing, ISO/MSP formation, merchant portfolio and acquiring acquisitions, prepaid and alternative payment products including decoupled debit. As a trusted partner with vision to understand his client’s future business he has helped design and evaluate several new products and services in today's changing marketplace, such as: development of connectivity products for payment cards; digitization of electronic benefit transfer and means tested programs; merchant card acceptance and capital funding solutions; cross border money transfer and bill payment services; BSA/AML best practices and guidelines; and, alternative payment products and services, prepaid and gift.
Mr. Khachadourian has also served in executive positions at several top ten financial institutions and helped them maximize growth and revenues in today’s challenging electronic payments marketplace. As a vice president of JPMorgan Chase’s Prepaid Product in Treasury Services, he was responsible for designing and launching prepaid cards in the EU market. As a senior vice president at Visa USA, he expanded card acceptance to new markets such as supermarkets, recurring payments, quick service restaurants and federal government agencies. His expertise in card products extends to issuance of credit, debit, prepaid and commercial cards.
Mr. Khachadourian earned a bachelor’s degree in mathematics and a master’s degree in computer science from the San Jose State University in California. He authored the “Basics of Data Communications” textbook and lectured at College of San Mateo, CA. He was awarded an honorary teaching credential by the State of California. Mr. Khachadourian is a member of the United States National Masters team; he has represented United States at four world championships. He is an accomplished marathon runner and tri-athlete, having completed in seven Ironman competitions.
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Written cancellations through fax or email (from the person who has registered for this conference) received at least 10 calendar days prior to the start date of the event will receive a refund - less a $300 administration fee. No cancellations will be accepted - nor refunds issued - within 10 calendar days before the start date of the event.
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Location :
San Diego, CA
(Venue to be announced shortly)
November 7-8, 2019
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Benefits of becoming a Sponsor/Exhibitor/Media Partner:
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For more details and other sponsorship options at this event, please contact Event Manager: customercare@complianceonline.com or call: +1-650-238-9656
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Local Attractions of San Diego, CA
San Diego Cabrillo National Monument
Board a luxurious Think Escape party bus or limo and be whisked away to San Francisco's hottest nightclubs where VIP treatment brings all party bus guests to the front of the line. Board a luxurious Think Escape party bus or limo and be whisked away to San Francisco's hottest nightclubs where VIP treatment brings all party bus guests to the front of the line. Board a luxurious Think Escape party bus or limo and be whisked away to San Francisco's hottest nightclubs where VIP treatment brings all party bus guests to the front of the line.
Sea Creatures at Birch Aquarium
Birch Aquarium is north of San Diego in La Jolla. It's not as big as some of the other aquariums in California or as flashy as the big sea-themed park down the road, but instead just right, filled with interesting exhibits and home to leafy sea dragons like the one above, creatures so improbably they look more like something from a children's book than from the ocean.
Legoland
Legoland theme park takes its inspiration from Lego toys, those cute little bricks that snap together to build all kinds of fun things. It's one of several Legolands worldwide.
San Diego Zoo Safari Park
The San Diego Zoo's sister park offers a different kind of animal experience. Its name (Safari Park) is the clue and it indeed offers a more safari-like experience. Lots of large animals live in the same big, open areas here - predators kept away from prey, but otherwise much as they would in their natural habitat.
Coronado Island
Coronado isn't really an island but a peninsula - a fact that doesn't get in the way of the name most people use for it. Whatever you call it, it's on a slender strip of land between the San Diego Bay and the Pacific Ocean, barely a few blocks wide. What it lacks in size it makes up for in fun, with a beach that's been named among the best in the country, a classic hotel and a compact, lively little downtown. Coronado's laid-back temperament makes a nice break from the busier parts of San Diego across the water.
Balboa Park
Originally built for temporary use during the 1915-16 Panama-California Exposition in San Diego, Balboa Park boasts buildings beautiful enough to be considered attractions in themselves, especially if you're a photographer. They're surrounded by trees, lawns and fountains, but that's only the beginning.
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