Banking MSBs: BSA/AML Risks, Mitigation of Risks and Rewards


Instructors: Jay Postma, Doug Dwyer
Product ID: 705893

  • Duration: 60 Min
In this webinar Banks and Credit Unions (Financial Institutions) will gain a core understanding of the BSA/AML risks, risk mitigation techniques and potential rewards of banking MSBs. This course is designed to assist Financial Institutions in formulating their strategy for banking MSBs, regulatory bodies overseeing MSB compliance, income and expense characteristics in banking MSBs, balance sheet impacts, perceptions and misperceptions of MSBs, risk between MSB entities and how to strengthen your financial institution’s BSA/AML program.
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Why Should You Attend:

Financial Institutions contemplating expanding or launching banking services for MSBs, or conversely existing the business, will benefit by understanding of the critical information that needs to be considered in the unbiased decision making process. Equipped with the appropriate set of data points, management will be enabled to determine the best strategy for their institution regarding the MSB segment.

Learning Objectives:

  • Understanding the regulatory bodies overseeing MSB compliance as well as the multiple Industry Associations that support their well being
  • How to challenge your institution’s assumptions and views of MSBs
  • Learn the income and expense characteristics of Financial Institutions deploying a “line of Business” methodology in banking MSBs
  • What are the likely balance sheet impacts for Financial Institutions in banking MSBs
  • While all MSBs are generally considered high risk for BSA/AML, gain an understanding of the specific risk rating (low, medium and high) drivers for each individual MSB served
  • Assessing the appropriateness and rigor of an MSB customer’s BSA/AML Program
  • How to address Regulator concerns when electing to launch or expand banking services and relationships with MSBs
  • Learn the keys to strengthening a financial institution’s BSA/AML program in undertaking higher BSA/AML risk customers

Areas Covered in the Webinar:

  • Market challenges facing Financial Institutions within the current BSA/AML de-risking environment
  • Defining MSBs and other higher risk “payments” entities
  • Perceptions and misperceptions of MSBs
  • Treasury / Cash Management products and services that are generally of the highest demand for MSBs
  • Varying levels of risk between MSB entities within the same type of MSB industry
  • Indications that an MSB’s BSA/AML compliance program is or is not a “check the box” regime
  • Primary concerns of regulators with those Financial Institutions expanding services with MSB customers
  • The “investments” financial institutions need to consider in expanding services and relationships with higher BSA/AML risk customers

Who Will Benefit:

  • Compliance Officer
  • BSA Officer
  • BSA/AML Managers
  • Risk Officer
  • Risk Manager
  • Risk Committee Member
  • Internal Auditor
  • Audit Officer and/or Manager
  • Audit Committee Member
  • Financial Officer and/or Manager
  • Controller
  • Accounting Manager
  • Head of Business / Commercial Deposit Products
  • Cash Management Services Officer and/or Manager
  • Treasury Management Services Officer and/or Manager
  • Deposit Products and Services Development Officer and/or Manager
Instructor Profile:
Jay Postma

Jay Postma
Founder, MSB Compliance Inc

Jay Postma, Certified Anti-Money Laundering Specialist (CAMS), has over 25 years’ experience in the Banking, Financial Services, and Software Development industries. He has worked as a management employee of the Federal Reserve Bank of Atlanta, MCI Telecommunications, Flag Bank and RBC Centura. He has also worked as an entrepreneur, co-founding and developing Towne Services Inc. and El Banco Financial Corporation (now Banuestra Financial Corporation). Jay has most recently established MSB Compliance, Inc, a publishing and consulting company providing Bank Secrecy Act compliance information and guidance to money services businesses through the web portal Mr. Postma holds a Bachelor of Science in Management Science from the Georgia Institute of Technology.

Instructor Profile:
Doug Dwyer

Doug Dwyer
Director, Alvarez and Marsal

Financial Institution Operational Risk Professional Douglas Dwyer is a Results driven professional with a 30 plus year track record of successful financial institution management consulting focused on implementing high impact projects for risk mitigation, bottom line improvements, and regulatory compliance in serving many outstanding organizations including Citigroup, U.S. Bank, Wells Fargo, USAA, SunTrust, Bank of New York/Mellon, BB&T, KeyCorp, M&T, Union Bank of California and 1stst Niagara.

Mr. Dwyer applies his breadth of banking experience in assisting his clients to achieve the desired risk / reward balance, while ensuring compliance is never compromised in the pursuit of improved performance. He leads Organizational Effectiveness engagements on process and procedural reengineering, profit improvement, operational / deposit fraud losses, internal controls, test plans/testing execution, M&A business integration, and regulatory remediation efforts addressing consent orders, memorandums of understanding and examination matters requiring attention (MRAs).

His BSA/AML experience spans several decades and includes examining national banks for compliance as an examiner with the OCC, serving as the interim BSA Officer for a major, multistate check cashing organization, as well as leading / assisting with the Independent Reviews of numerous MSBs, and Third Party Payment Providers.

Mr. Dwyer began his banking career as a commercial bank examiner with the Office of the Comptroller of the Currency. In addition to self-employment, he has held senior management positions with advisory firms KPMG, Bearing Point, CAST Management Consultants and A&M. Mr. Dwyer earned a Bachelor of Science in Business Administration (accounting major) from Marquette University. He is a charter member of BAI’s Certified Risk Professional (inactive), and is a certified FCRA Data Furnisher professional with the Consumer Data Industry Association.

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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 [email protected] call +1-888-717-2436 (Toll Free).




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