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

Instructor: Gina Lowdermilk
Product ID: 702955
  • Duration: 60 Min
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.

recorded version

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: Jun-2013

Training CD / USB Drive

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

Customer Care

Fax: +1-650-362-2367


Read Frequently Asked Questions

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:

  • Identifying PEPs and High Risk Customers
  • What makes a customer high risk?
  • Assessing policies and procedures for PEPs
  • Comprehensive Risk Assessment for PEPs
  • Review of monitoring programs for PEPs
  • Determining effectiveness and thoroughness of training programs regarding PEPs

Who Will Benefit:

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

  • BSA / AML Officers
  • Internal Auditors
  • Staff with roles and responsibilities in BSA / AML management and oversight
  • Money Service Business BSA/AML Officers
  • Corporate Audit Personnel

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:

  • Resolved BSA Compliance C&D issues identified by federal regulators prior to my employment
  • Developed and implemented a BSA Internal Audit program
  • Developed and implemented a BSA Compliance Program department
  • Re-engineered Compliance and BSA Compliance programs, policies, procedures, training, auditing, and reporting to Senior Management, Board of Directors and federal regulators
  • Resolved all of the Compliance and BSA Compliance MOU issues that were cited by federal regulators prior to my employment
  • Implemented Compliance & BSA Compliance audit reports and trend analysis models
  • Developed and implemented Risk Assessment Access Database and HMDA Variance database
  • Re-engineered compliance review process for the application & post closing process
  • Developed an Access database of 32 federal banking compliance rules and laws
  • Re-engineered compliance audit process to accommodate any statute/industry changes
  • Established and conducted specific compliance and BSA training specific to job roles and responsibilities
  • Developed training analysis based on growth projections for a bank
  • Developed the Home Mortgage Disclosure Act and Fair Lending program
  • Developed dashboard reports for management for trend analysis & variances

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 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.

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