Review the reporting and training requirements of the Senior Safe Act in the 2018 Regulatory Relief Bill. Changes to information technology sources, systems, and processes used in BSA compliance may be covered during training for appropriate personnel. Section 314(b) encourages financial institutions to voluntarily share information in order to identify and report activities that may involve money laundering or terrorist activity. Not sure where to start? Make available a copy of the BSA/AML training materials for management and employees involved in trust and asset management activities. The Bank Secrecy Act Compliance Specialist (BSACS) designation showcases your commitment to identifying the latest forms of illicit financial activities and understanding evolving Bank Secrecy Act (BSA) and anti-money laundering (AML) laws. BSA/Anti-Money Laundering (AML) Examinations The OCC conducts regular examinations of national banks, federal savings associations, federal branches, and agencies of foreign banks in the U.S. to determine compliance with the BSA. Senior Financial Exploitation: How to Spot It & How to Stop It FFIEC BSA/AML Examination Manual 1 05/05/2018 . Provide SARs and subpoenas related to privately owned ATMs and ISOs. Make available a list of foreign correspondent financial institution accounts. FFIEC Bank Secrecy Act/Anti-Money Laundering InfoBase, Developing Conclusions and Finalizing the Exam, Assessing Compliance with BSA Regulatory Requirements, Risks Associated with Money Laundering and Terrorist Financing, Appendix D Statutory Definition of Financial Institution, Appendix F Money Laundering and Terrorist Financing Red Flags, Appendix H Request Letter Items (Core and Expanded), Appendix I Risk Assessment Link to the BSA/AML Compliance Program, Appendix K Customer Risk Versus Due Diligence and Suspicious Activity Monitoring, Appendix M Quantity of Risk Matrix OFAC Procedures, Appendix N Private Banking Common Structure, Appendix O Examiner Tools for Transaction Testing, Appendix P BSA Record Retention Requirements, Appendix S Key Suspicious Activity Monitoring Components. Learn more. Information on new products and services offered to private banking clients and the banks process for approving new activities. Well utilize this time to acclimate this group of attendees to the eSchool and certification process. List of all the banks embassy or consulate accounts, or other accounts maintained by a foreign government, foreign embassy, or foreign political figure. Provide a copy of account documentation or agreements for deposit broker arrangements. Section 314 (a) of the USA Patriot Act allows law enforcement agencies to solicit information from financial institutions via a FinCEN information request. Review what credit unions can do to mitigate their risk of these potentially higher risk accounts. File of Reports of International Transportation of Currency or Monetary Instruments (CMIR). Management reports that indicate the monthly volume of prepaid access activity. Any analyses or documentation of any activity for which a SAR was considered but not filed, or for which the bank is actively considering filing a SAR. The BSA compliance officer and BSA compliance staff should receive periodic training that is relevant and appropriate to remain informed of changes to regulatory requirements and changes to the banks risk profile. Provide a risk assessment covering private banking customers and transactions. This session looks beyond the basic member due diligence regulatory requirements reviewed in the BSA 101 session by considering how to apply the regulations to higher-risk accounts, products and members. Describe the purpose for and controls surrounding each account. Provide a list of suspense, concentration, or omnibus accounts used for NDIP. Current listing of outstanding prepaid card products including: Any of the following related to a third party: Copies of risk assessments performed on the third parties, The most recent internal audit/review of the relationship. Name and title of the designated OFAC compliance officer and, if different, the name and title of the person responsible for monitoring OFAC compliance. Gain access to the final exam at the conclusion of the last session. The Day One: Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examiner Training is a comprehensive training package for entry-level BSA examiners, as well as seasoned examiners needing a refresher. These reports can be generated from specialized BSA/AML software, the banks general data processing systems, or both. Make available copies of policies, procedures, and processes relating to nondeposit investment products (NDIP) and relationships with any independent NDIP providers. Examiners should determine whether all personnel whose duties require knowledge of the BSA are included in the training program and whether materials include training on BSA regulatory requirements, supervisory guidance, and the banks internal BSA/AML policies, procedures, and processes. Credit Union National Association is the mostcrediblefinancial services trade associationand the only national association thatadvocates on behalf of all of America'scredit unions. Make available copies of policies, procedures, and processes specifically for U.S. dollar drafts, including procedures for monitoring for suspicious activity. The OCC conducts regular examinations of national banks, federal savings associations, federal branches, and agencies of foreign banks in the U.S. to determine compliance with the BSA. Join us in Nashville, Aug. 27-29, 2023. Access to records of funds transfers, including incoming, intermediary, and outgoing transfers of $3,000 or more. Make available copies of any policies and procedures related directly to automated clearing house (ACH) and international ACH transactions (IAT) that are not already included in the BSA/AML policies. Provide a list of SARs filed related to shipping relationships and transactions. Should you need to retake the exam without purchasing Insurance beforehand the retake fee is $75. Make available a list of customer complaints regarding ACH transactions and IATs. On-demand (20 mins.). Training programs should include examples of money laundering and suspicious activity monitoring and reporting that are tailored, as appropriate, to each operational area. The content is designed for credit union professionals who need to learn BSA and AML requirements, as well as anyone interested in refreshing their foundational knowledge in this area. Provide a list of suspense, concentration, or omnibus accounts used for private banking transactions. Provide a list of SARs and subpoenas related to NRA and foreign individual accounts. Provide risk assessment of other businesses and entities, list those other businesses and entities that the bank has designated as higher risk. The OCC conducts regular examinations of national banks, federal savings associations, federal branches, and agencies of foreign banks in the U.S. to determine compliance with the BSA. The curriculum of this session encompasses crucial Bank Secrecy Act (BSA) and Anti-money Laundering (AML) content for students who . MinBanc Foundation Grants Provide a list of accounts opened by business entities. Solutions Key Topics Bank Locator Certification BSA/AML Certification (CBAP) Designation: Certified BSA/AML Professional (CBAP) Requirement: BSA/AML Institute; (20) Continuing Professional Education credits required every two years. Periodic training for appropriate personnel should incorporate current developments and changes to BSA regulatory requirements; supervisory guidance; internal policies, procedures, and processes; and the banks products, services, customers, and geographic locations. Access to SARs filed with FinCEN during the review period and the supporting documentation. How to Earn the BSACS Designation: Recertification Provide a list of funds transfers purchased with currency over a specified time period. Review the latest information regarding the 2020 de-risking statutory requirement that prohibits credit unions from terminating, failing to initiate or restrict a high-risk business relationship.. It is critical that a credit unions OFAC compliance program possess the appropriate internal controls for screening OFAC targets and reporting prohibited transactions in order to comply with these requirements. Make available copies of OFAC policies and procedures. BSA/AML Training (2020) Online: PDF (.pdf) Online: Select Above: Developing Conclusions and Finalizing the Exam . This study hall session will NOT be a prepared review of the specific exam content. Access to documentation of required annual reviews for CTR exemptions. Bank Secrecy Act Compliance Specialist (BSACS), Credit Union Compliance Management System, Credit Union Compliance Management System PLUS, CUNA Professional Development Online (CPD Online), American Association of Credit Union Leagues (AACUL). Make available trust and asset management procedures and guidelines used to determine when. If not already included in the BSA/AML policies, make available copies of any policies, procedures, and processes related to third-party payment processors. The five-session BSA/AML Officer Certification training program will enable you to: Upon certification, you will receive a Credly digital credential to demonstrate your knowledge. This 70-minute on-demand class is available to registered attendees beginning July 11, 2023. Prepare Schedule Your Exam View upcoming exam dates and locations, and submit your application. Provide a list of any OFAC licenses issued to the bank. Firms must comply with the Bank Secrecy Act and its implementing regulations ("AML rules"). List should include the country of residence of the PEP, the account balances, and the average number and dollar volume of transactions per month. Provide a description of account officer and manager positions, and the compensation, recruitment, and training program for these positions. Make available a list of blocked or rejected transactions with individuals or entities on the OFAC list and reported to OFAC. Provide a list of the banks trust and asset management accountholders who meet the following criteria: Provide a list of politically exposed persons (PEP), export or import business owners, money transmitters, Private Investment Companies (PIC), financial advisers, offshore entities, or money managers (when an intermediary is acting on behalf of customers). Make available copies of the results of any internally or externally sourced independent audits or tests performed since the previous examination for OFAC, including the scope or engagement letter, managements responses, and access to the workpapers. Maintain CAFP Earn Continuing Education Credits The 2023 Fraud Landscape Mid-Year Update June 8, 2023 | 2 - 3 PM ET List of all foreign correspondent bank accounts and relationships with foreign financial institutions that have been closed or terminated in compliance with the conditions in, List of foreign correspondent bank accounts that have been the subject of a. Include the number and dollar volume of funds transfer activity for the month. Make available copies of management . JavaScript seems to be disabled in your browser. Make available copies of policies, procedures, and processes specifically for payable through accounts (PTA), including procedures for monitoring for suspicious activity. If an automated system is used, determine whether the system is proprietary or vendor supplied. Provide a list of products and services offered to private banking clients. The BSA requires each bank to establish a BSA/AML compliance program. To Report or Not to Report A Closer Look at Cash Transactions & CTRs For the best experience on our site, be sure to turn on Javascript in your browser. Provide risk assessment covering brokered deposits. Name and title of the designated BSA compliance officer and, if different, the name and title of the person responsible for monitoring BSA/AML compliance. Make available business or strategic plans for the private banking department. This series is designed to be self-paced. Provide a list of NRA and foreign individual accounts held by the bank, particularly those accounts the bank has designated as high risk. View the FFIEC Bank Secrecy Act/Anti-Money Laundering Manual BSA/AML Compliance Program Structures page under the Program Structures section. List of the banks foreign branches and the steps the bank has taken to determine whether the accounts with its branches are not used to indirectly provide services to foreign shell banks. Make available copies of policies, procedures, and processes related to other businesses and entities. Make available copies of the policy and procedures relating to all reporting and recordkeeping requirements, including suspicious activity reporting. You can share your verifiable badge in email, LinkedIn, and other online profiles. Any quality assurance reports on prepaid programs completed year-to-date. List of all documentary and nondocumentary methods the bank uses to verify a customers identity. As part of the examination planning process, the examiner should prepare a request letter. OCC Frequently Asked Questions for Banks Regarding COVID-19, Bank Secrecy Act/Anti-Money Laundering: Customer Due Diligence and Beneficial Ownership Requirements for Legal Entity Customers Overviews and Examination Procedures, Bank Secrecy Act/Anti-Money Laundering: Revised FFIEC BSA/AML Examination Manual, Treasury publishes National Money Laundering and Terrorist Financing Risk Assessments, Learn about other organizations and federal government agency efforts to combat money laundering and terrorist financing, Third-Party Relationships: Risk Management Guidance, Central Application Tracking System (CATS), Office of Thrift Supervision Archive Search, BSA/AML Bulletins, FinCEN Advisories, & Related BASEL Information, BSA/AML Innovative Industry Approaches & Other Related Links, Links to Other Organizations BSA Information, FFIEC's Bank Secrecy Act/Anti-Money Laundering Examination Manual. Students are only tested on Level 101 content (i. e. BSA 101 and Compliance Specialist (BSACS) Certification Class). The contract and certification provide a standard means for a bank to demonstrate that it has satisfied the "reliance provision," unless the examiner has reason to believe that the bank's reliance is not reasonable (e.g., the other financial institution has been subject to an enforcement action for AML or BSA deficiencies or violations). Make available a list of service providers related to Remote Deposit Capture (RDC) activities. Make available copies of BSA/AML policies, procedures, and processes for trust and asset management services. If possible, include the volume, by number and dollar amount, of monthly transactions for each account. Risk Assessment . Viewing recordings counts toward recertification. Financial crimes compliance attorney and consultant with over 20 years of experience in financial services management, sales, operations, and compliance, Previously deputy BSA Officer at Great Florida Bank and Compliance Officer at Citibank. Examiners assess the adequacy of the bank's Bank Secrecy Act/anti-money laundering (BSA/AML) compliance program, relative to its risk profile, and the bank's compliance with The list should note if the relied-upon financial institutions are subject to a rule implementing the BSA/AML compliance program requirements of. Provide a list of the types of products and services offered at the foreign branches and offices and information on new products or services offered by the foreign branch, including those that are not already offered by the parent bank. Provide a list of any parallel banking relationships. This list should be tailored for the specific institution profile and the planned examination scope. The Anti-Money Laundering Act of 2020 (AMLA) tasked the Secretary of the Treasury, in consultation with specified regulators and law enforcement, with undertaking a review of BSA regulations and guidance and directed the Secretary to make appropriate changes to improve the . Summary descriptions (a table or grid, if available) for all current prepaid card products that includes distribution channels, advertising, target markets (unique state laws), vendor support, third-party resellers, underwriting criterion, load limits, spending limits, cash advance limits, and pricing. Provide copies of SARs associated with trust and asset management services. If available, provide a list of NDIP clients and balances. By mastering BSA/AML requirements, you can minimize risk, protect your bank, and fight against financial crime. Credit Union National Association is the mostcrediblefinancial services trade associationand the only national association thatadvocates on behalf of all of America'scredit unions. While the regulatory requirements appear straight forward collect and verify four pieces of identifying information when it comes to operational compliance there is a lot of gray area to navigate. ABA Professional Certifications: 10.25 CAFP, 10.25CRCM, 3.25CTFA, 3.00CCTS, 2.25CSOP, 1.00 CERP. BSACS Recertification: Attendees working toward recertification attend live sessions on November 29 and 30, 2023. Provide a list of SARs and subpoenas related to NBFI. Friday, August 4, 2023 Provide a list of any professional service provider accounts that the bank has designated as higher risk. This list should be tailored for the specific banks risk profile and the planned examination scope. ), View and study the content of BSA 101 and Compliance Specialist (BSACS) Certification Class (70 mins.). Provide a list of subpoenas, particularly BSA/AML-related, relating to trust and asset management activities. Make available a copy of account-opening documentation or agreements for private banking customers. The second requirement is attendance to CUNA BSA/AML Certification eSchool with NASCUS, specifically all Level 101, 201 and general sessions. Certificate in BSA and AML Compliance Improve your ability to detect and prevent suspicious and criminal activity with this overview of the types of criminal behavior commonly used against banks, including in-depth training on the applicable U.S. laws and regulations governing money laundering. Correspondence from NACHA regarding high levels of returns. Learn about the ACRE Act, and how your bank can make a difference in rural America with free resources from ABA. Provide a list of NRA and foreign individual accounts without a TIN, passport number, or other appropriate identification number. Additionally, training materials and records should be available for auditor or examiner review. If applicable, documentation to evidence compliance wit, List of all payable through relationships with foreign financial institutions as define. Credits: Live webinars approved for 5.0 CPE credits. We work tirelessly to protectyour best interests in Washington and all 50states. Providing credit unions with the best federal advocacy, education and compliance assistance in the industry, 2023 National Association of Federally-Insured Credit Unions, CECL Study: Alternatives, Impacts, Accuracy, and Complexity, award-winning NAFCU Certified Compliance Officer (NCCO), NAFCU Certified Compliance Officer (NCCO) Program, NAFCU Certified Bank Secrecy Officer (NCBSO) Program, NAFCU Certified Risk Manager (NCRM) Program, 2023 Credit Union Compliance Roadmap Manual, Complete NAFCU Credit Union Compliance Advertising Guide, The CFPB Announces Final Judgement Against Bank for Regulation Z Violations, http://www.youtube.com/user/NAFCUtv?feature=g-all-u. The Office of Foreign Assets Control (OFAC) requires credit unions to block (i.e., freeze) property and reject certain transactions involving U.S.-sanctioned countries, entities, and/or individuals appearing on OFACs Specially Designated Nationals and Blocked Persons List (SDN List) and Consolidated Sanctions List. The class is taught by experienced industry experts Colleen Kelly, CUNA senior federal compliance counsel, and Valerie Moss, CUNA senior director of compliance analysis. If the bank relies on another financial institution or other party to perform training, appropriate documentation should be maintained. Employers particularly appreciate BankersWeb certifications because they represent definitive confirmation of the mastery of the subject area. Once the requirements are met, please complete theform found hereto verify certification. -Colleen Kelly On-demand (40 mins.). 1333 New Hampshire Avenue NWWashington, DC 20036, ABA/ABA Financial Crimes Enforcement Conference, Onboarding and Workplace Essentials Online Training, Marketing & Communications Online Training, Certified Financial Marketing Professional, Environmental Social and Governance Network, Americans with Disabilities Act Peer Group, Community Engagement and Reinvestment Committee, Cyber and Information Security Working Group, Diversity, Equity, and Inclusion Advisory Group, Diversity, Equity, and Inclusion Open Forum, Environmental Social and Governance Working Group, Minority Depository Institution Advisory Council, Moderate or Limited Trading Assets Working Group, Mortgage Markets & Lending Technology Committee, Risk Metrics/Key Risk Indicator Working Group, Telephone Consumer Protection Act Working Group, ABA Risk and Compliance Magazine Overview, Ability to Repay and "Qualified Mortgage" Exemption, Affordable Housing and Community Investment, Bank Secrecy Act / Anti-Money Laundering (BSA/AML) Reform, Current Expected Credit Loss Standards (CECL), Fiduciary Regulation by the Department of Labor, Flood Insurance Reauthorization and Reform, Community Development & Affordable Housing, Certified AML and Fraud Professional (CAFP), Currency and Correspondent Banking Accounts, Electronic Banking and Funds Transfer Activities, BSA Requirements for Foreign Customers and Accounts, Office of Foreign Assets Control (OFAC) for Compliance Professionals. 5 Sessions scheduled for 60 minutes including question and answer period. Make available copies of policies, procedures, and processes for privately owned ATM and ISO account acceptance, due diligence, and ongoing monitoring. Provide a description of the method for aggregating each customer relationship across business units and geographic locations throughout the organization. Provide a list of all foreign and domestic correspondent bank accounts, including a list of foreign financial institutions, from which the bank receives or sends bulk currency shipments. Our enterprise customers receive custom branding, reporting and analytics tools, and of course, preferred pricing. Without a general understanding of the BSA, it is more difficult for the board of directors to provide adequate oversight of the BSA/AML compliance program, including approving the written BSA/AML compliance program, establishing appropriate independence for the BSA/AML compliance function, and providing sufficient BSA/AML resources. Viewing recordings counts toward certification. We look forward to your participation! This session builds on the information provided in the BSA 101 session to look at more challenging CTR reporting scenarios, such as structuring, aggregation and business accounts. Provide a list of all loans that have been extended since the previous BSA/AML examination. CUNA/NASCUS Office Hour for BSACS Certification, Tuesday, October 10, 2023 Make available copies of policies, procedures, and controls used to manage BSA/AML risks in the private banking department. Examiners should try to limit this request and focus on accounts for specific products or services, higher-risk accounts only, or accounts for which exceptions or audit concerns have been noted. FFIEC Bank Secrecy Act/Anti-Money Laundering InfoBase. OCC examiners review compliance with BSA as part of every exam cycle using the core and expanded examination procedures contained in the FFIEC's Bank Secrecy Act . For additional information please referhere or reach out toSupport@careerlearning.com. Training should cover BSA regulatory requirements, supervisory guidance, and the banks internal BSA/AML policies, procedures, and processes. Provide a list of SARs filed on third-party payment processor relationships. The bank should provide training for any agents who are responsible for conducting BSA-related functions on behalf of the bank. Make available copies of policies, procedures, and processes specifically for correspondent bank accounts, including procedures for monitoring for suspicious activity. Learning Objectives: In this session, attendees will be presented with several scenarios, given time to consider possible solutions, and review relevant FinCEN guidance to identify the best responses. We use cookies to ensure that we give you the best experience on our website. Explore how to effectively perform due diligence for several higher-risk accounts, such as business accounts, MSBs, cannabis related businesses, nonresident alien accounts. Banks should document their training programs. Provide monetary instrument logs or other MIS reports used for the monitoring and detection of unusual or suspicious activities relating to the sales of monetary instruments. Provide management reports covering insurance products (including large transactions, funds transfers, single premium payments, and early cancellations). [21]For more information on collaborative arrangements, see Interagency Statement on Sharing Bank Secrecy Act Resources, issued by Federal Reserve, FDIC, FinCEN, NCUA, and OCC, October 3, 2018. If the system was provided by an outside vendor, request (i) a list that includes the vendor, (ii) application names, and (iii) installation dates of any automated account monitoring system provided by an outside vendor. At the BSA/AML Certification Conference with NASCUS/CUNA, youll hone your acumen as a reliable, confident authority on all things relevant to the BSA, culminating in the chance to earn or recertify your Bank Secrecy Act Compliance Specialist (BSACS) designation. Identify red flags that could indicate unusual behavior or suspicious financial activity of older members. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:www.nasbaregistry.org. As part of the examination planning process, the examiner should prepare a request letter. The purpose of the Anti-Money Laundering (AML) rules is to help detect and report suspicious activity including the predicate offenses to money laundering and terrorist financing, such as securities fraud and market manipulation. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Provide a list of PUPID transactions completed by the bank, either as the beneficiary bank or as the originating bank. Introduction; Scoping and Planning; BSA/AML Risk Assessment; Assessing the BSA/AML Compliance Program . Attendees will have the opportunity to select from various breakout sessions tailored to their educational interests and credit union requirements. Records of Report of Foreign Bank and Financial Accounts (FBAR). Live sessions will be recorded. (. Make available a copy of account opening documentation or agreements for NDIP. Record retention schedule and procedural guidelines. Detailed risk management reports for the month-end that are used to manage and monitor risks within the portfolio. Attend all the training sessions in their entirety. Make available a list of foreign correspondent bank accounts that offer U.S. dollar drafts. Any certifications made by the other party. Training documentation (e.g., materials used for training since the previous BSA/AML examination). Live sessions will be recorded. Provide an organizational chart for the BSA/AML compliance function as it relates to the trust and asset management services. Make available access to the auditors risk assessment, audit plan (schedule), and program used for the audits or tests. Start the year with new knowledge and increased value. BSA AML Professional Certification This BSA AML Certification Program has 20 full lessons and quizzes, representing the most comprehensive and exhaustive training series for new AND seasoned BSA/AML professionals in the industry. 10:30-11:45 a.m. CT, Speakers: Monday, August 7, 2023 (Exam window opens on this date). Copies of rsums and qualifications of person (or persons) new to the bank serving in OFAC compliance program oversight capacities. -Isaida Woo. To prepare for the exam, students should: Navigating CIP Challenges: FAQs Provide a list of customer accounts permitted to use pouch services. Make available documentation demonstrating that required searches have been performed. In this session, well build from your level 101 training on this topic. Call us for any question, and we'll help you resolve your question or get to the right person. customers and to include such procedures in its anti-money laundering compliance program. We fuel your professional growth atevery level,standcommitted to thefinancialwell-being ofeverymember,and championthe credit union story at every turn. 10:30 - 11:30 a.m. CT, -Melisa Kallestad Provide management reports covering nonrelationship funding programs (including reports on balances, concentrations, performance, or fees paid). The COVID-19 pandemic has exacerbated a growing problem for seniors in the United States: Senior Financial Exploitation. List of business customers regularly conducting prepaid access transactions including the number and dollar volume of transactions. The Bavarian government announced further lifting of restrictions May 4 to slowly re-open portions of the economy and to lift restrictions on public life. Once the requirements are met, please complete the form found here to verify recertification. The bank should maintain documentation of attendance records and any failures of personnel to take the required training in a timely manner, as well as any corrective actions taken to address such failures. Provide a list of SARs filed related to the purchase or sale of monetary instruments. 7th ARMY TRAINING COMMAND Public Affairs Office . Provide risk assessment covering insurance products. A copy of any account opening forms (e.g., for loans, deposits or other accounts) used to document CIP/Customer Due Diligence information. On-demand (30 mins.). Provide a copy of management's risk assessment of relationships and transactions of Currency Originators and Intermediaries. This session reviews the regulatory requirements and examiner expectations of a credit unions BSA Risk Assessment. Provide most recent management reports received on foreign branches and offices. At the BSA/AML Certification Conference with NASCUS/CUNA, you'll hone your acumen as a reliable, confident authority on all things relevant to the BSA, culminating in the chance to earn or recertify your Bank Secrecy Act Compliance Specialist (BSACS) designation. Get your questions answered regarding Level 201 content. We work tirelessly to protectyour best interests in Washington and all 50states. If this program does not meet your expectations, email us at support@careerlearning.com. List of all foreign correspondent bank accounts, including a list of foreign financial institutions, for which the bank provides or provided regular services, and the date on which the required information was received (either by completion of a certification or by other means). BSA/AML training schedule with dates, attendees, and topics. Make available copies of reports used for identification of and monitoring for suspicious transactions related to Currency Originators and Intermediaries. On-demand (30 mins.). Build the skills and knowledge necessary for career advancement with a certificate program in a concentrated skill set. Make available documents that specify limits or procedures that should be followed when dealing with the parallel entity. Analyzing Your Bank's Financial Statement Seminar - Virtual, Designation: Certified BSA/AML Professional (CBAP). Make available MIS reports related to the sales of insurance products. Provide a list of monetary instruments purchased with currency over a specified time period. Provide a list of SARs filed relating to PTAs. Provide the code of ethics for foreign branches or offices, if it is different from the banks standard policy. List of customers or potential customers for whom the bank took adverse action. Include copies of any filed SARs that were related to section 314(a) requests for information or to section 314(b) information sharing requests. Provide internal audits covering brokered deposits. Find out the agencys expectations and recommendations related to this important aspect of BSA compliance. ABA's Community Commitment Awards recognize banks that go above and beyond for their customers and communities. Provide a list of SARs filed relating to U.S. dollar drafts. BSA/AML Officers with certified expertise are indispensable for navigating these challenges and safeguarding the organization's reputation. Provide SARs and subpoenas related to private banking customers. Examiners assess the adequacy of the bank's Bank Secrecy Act/anti-money laundering (BSA/AML) compliance program, relative to its risk profile, and the bank's compliance with Provide a list of SARs filed relating to foreign correspondent financial institution accounts. This information is used to develop a baseline against which member activity can be assessed for possible suspicious activity reporting. Make available copies of BSA/AML policies and procedures specific to lending. Make available customer notices and a description of their timing and delivery, by product. Make available copies of policies, procedures, and processes specific to politically exposed persons (PEP). The program focuses on introducing BSA regulatory compliance examination and is available on demand. Make available copies of reports used for identification of and monitoring for suspicious transactions. Reports may include large transaction reports, single premium payments, early cancellation, premium overpayments, and assignments of claims. Learn more about the program and find out if you qualify. Correspondence addressed between the bank, its personnel or agents, and its federal and state banking agencies, the U.S. Treasury (Office of the Secretary and Department of the Treasury, IRS, FinCEN, and OFAC) or law enforcement authorities since the previous BSA/AML examination. BSA & Related Regulations Provide the organizational structure of the foreign branches and offices, including reporting lines to the U.S. bank level. Make available reports and minutes submitted to the board of directors or its designated committee relating to BSA/AML matters pertaining to trust and asset management business lines and activities. Customers who are involved in cash-intensive businesses. Make available management reports used to monitor PEP accounts, including reports for identifying unusual and suspicious activity. Speakers:- Colleen Kelly- Valerie Moss. Provide a list of loans to business entities collateralized by bearer shares. obtained, including without limitation the certification (if obtained), for a period of five years Debunk 8 common myths regarding human trafficking. Organization charts showing direct and indirect reporting lines. Provide internal audits covering NDIP sales and provider relationships. Objective: Confirm that the bank has developed a BSA/AML training program and delivered training to appropriate personnel. Apply for the Corporate Compliance Analyst - BSA/AML Change Management position at Regions Bank and grow your career with our talent team in Birmingham, Alabama, 35203. Certificates of Attendance:BankersWeb certificates of attendance are available to all registered participants completing this webinar. This list should include products and services offered by the NBFI; the average account balance; and the average number, type, and dollar volume of transactions per month. Learn how to address continuing suspicious activity and repeat SAR filings. Examples include nonsufficient funds (NSF) reports, account analysis fee income reports, and large item reports. Learn to recognize trafficking red flags, including FinCENs 2020 updates. Provide a risk assessment covering privately owned automated teller machines (ATM) and Independent Sales Organizations (ISO), including a list of higher-risk privately owned ATM relationships. Review case studies to illustrate the many faces of human trafficking. While attempts to launder money or conduct other illegal activities through a credit union can emanate from many different sources, certain products, services, members and geographic locations may be more vulnerable. Make available copies of policies, procedures, and processes related to professional service provider accounts. Solidify your understanding of 314(a) search requirements, Learn 314(b) voluntary information sharing dos and donts, Review confidentiality and documentation requirements, Review the red flag indicators of various types of cyber-attacks (e. g., phishing, malware, DDoS attacks, etc. Provide a risk assessment relating to the lending function, including a list of any higher-risk lending relationships identified by the bank. Well use this time to answer BSA/AML/CFT questions related to the on-demand Level 201 training as well as questions about the eSchool and certification process. To license this course to your bank for multiple learners, please contact ABA Training. If applicable, provide a copy of the records verifying that the most recent updates to OFAC software have been installed. may be requested for a bank BSA/AML examination. Make available a list of Currency Originators, Intermediaries, including referral agents, and foreign and domestic customers that send bulk currency shipments to the bank. Provide a sample of account opening documentation for higher-risk NBFI. Determination of whether the bank uses a manual or an automated account monitoring system, or a combination of the two. This list should include average account balances and the average number and dollar volume of transactions. To earn the Certified BSA/AML Professional (CBAP) certification, you will be required to attend this program in its entirety, complete all assignments, and achieve a passing score on the certification exam (s). Training should be tailored to each individuals specific responsibilities, as appropriate. Attend one of the following events and complete the required training. Make available copies of policies, procedures, and processes related to receiving shipments of bulk currency. Provide a list of SARs filed relating to parallel banking relationships. Learn more about enrolling in ABA's Frontline Compliance program. List of any accounts opened for a customer that provides an application for a TIN. Please follow these steps to earn your certification: If you have any questions about the certification process, please get in touch with us. ongoing AML employee training; an independent test of the firm's . Credit unions must also have policies, procedures, and processes in place to respond to follow-up inquiries and requests for information from law enforcement agencies. Make available copies of specific policies and procedures specifically for brokered deposits, including procedures for monitoring for suspicious activity. -Valerie Moss Make available agreements or contracts with Currency Originators or Intermediaries. Provide a BSA/AML independent review or audit of trust and asset management services. We fuel your professional growth atevery level,standcommitted to thefinancialwell-being ofeverymember,and championthe credit union story at every turn. Improve your ability to detect and prevent suspicious and criminal activity with this overview of the types of criminal behavior commonly used against banks, including in-depth training on the applicable U.S. laws and regulations governing money laundering. Customers who are from, or do business with, a higher-risk geographic location. Make available a list of large or frequent ACH transactions or IATs. Identify the trust accounting systems used. Provide a list of noncustomer transactions over a specified time period. Credit union professionals are uniquely positioned to play a vital role in preventing and responding to this type of fraud because they often have the opportunity to see fraudsters face to face and can detect unusual activity in member accounts. Nov. 5-9: BSA/AML Certification Conference with CUNA, NASCUS Event: Legislative and Regulatory Affairs Committee Meeting. The ABA Certificate in BSA and AML Compliance covers anti-money laundering fundamentals and regulatory requirements. Legal and compliance leader for a credit card company. Proper monitoring and reporting processes are essential to ensuring that the credit union has an adequate and effective BSA/AML/CFT compliance program. Such centralization can effectively maximize efficiencies and enhance assessment of risks and . Credit unions are required to have a Board-approved Customer Identification Program (CIP) as part of its BSA/AML/CFT Compliance Program. Regulatory expert Timothy Dunfey will lead this comprehensive series. According to Homeland Security, after drug dealing, trafficking of humans is tied with arms dealing as the second largest criminal industry in the world, and the fastest growing. Through a survey exercise, learn to determine how to assess low, moderate and high risk of members and accounts. A list of persons in positions for which the bank typically requires OFAC training but who did not participate in the training. Review guidance on how to apply the regulatory requirements to various accounts, such as trust accounts, escrow accounts, existing accounts, joint accounts and loan applications. CareerLearning wants you to be satisfied with your purchase. Training documentation (e.g., materials used for training since the previous BSA/AML examination). Network with state and federal regulators, credit union leaders, cannabis experts, and industry stakeholders in a two-day, collaborative deep-dive into the cannabis banking landscape environment. On-demand (15 mins.). Policies should include the banks definition of a PEP as well as procedures for opening PEP accounts and senior managements role in the approval process for opening PEP accounts. Identify NCUAs Member Due Diligence examination expectations and consider what credit unions can do to prepare for their next exam. . Provide a list of CTRs, CMIRs, or SARs filed relating to pouch activity. Make available correspondence from NACHA. Michigan Industry Day offers credit unions, stakeholders, and partners opportunities for networking, learning, collaboration, visibility, and access to resources. The curriculum is designed to be a refresher for experienced financial crimes professionals who wish to take the Certified AML and Fraud Professional (CAFP)exam, and may be required for those individuals with less than five years' experience in the field. Make available copies of policies, procedures, and processes used to comply with all criminal subpoenas, including National Security Letters (NSL), related to BSA. Join us June 27-28, 2023, for our signature cannabis banking event. Provide a list of approved deposit brokers. The board of directors is ultimately responsible for the bank's BSA/AML compliance and should provide oversight for senior management and the BSA compliance . Empower Yourself: Free Stress Awareness Month Tips! Access to internal reports used to identify reportable currency transactions for the review period. OFAC training schedule with dates, attendees, and topics. Make available a copy of contracts or agreements between the bank and insurance providers for the completion of CIP, due diligence, and ongoing monitoring of insurance customers. Provide a list of SARs filed relating to domestic correspondent bank accounts. A comprehensive risk assessment of a credit unions products, services, members and geographic locations is the foundation of an effective BSA/AML/CFT compliance program. Make available a list of domestic correspondent bank accounts. Barbara I. Keller, CAFP, is an independent anti-money laundering/financial crime consultant with BIKConsulting LLC. List of all accountholders and borrowers domiciled outside the United States, including those with U.S. power of attorney. Attend one of the following events, complete the required training and successfully complete the BSACS Certification exam. List of products or services that may involve currency transactions. The Exchange (A NASCUS Initiative) is an annual issues-driven event that brings state- and federally-chartered credit union CEOs with assets greater than $10B+ together with dynamic state system regulators to identify and discuss emerging issues and trends affecting dual charters and the financial services sector. Students should sufficiently prepare for the exam prior to this study hall session by studying the content of the BSA 101 and Compliance Specialist (BSACS) Certification Class and the CUNA BSA 101 Compliance Guide. Students are encouraged to email their questions before the session to cucomply@cuna.com, Subject: BSA 101 Study Hall, or come to the session prepared to ask any questions they have about the material. Provide a copy of the Annual Report of Blocked Property submitted to OFAC (. After completing the BSACS certification exam and viewing the on-demand Level 201 sessions, what questions have come to mind? Learn More Nov. 16: Michigan Industry Day Copies of any contracts signed between the parties. Additional materials may be requested as needed. Make available records reflecting currency shipped to and received from the Federal Reserve Bank or correspondent banks, or reflecting currency shipped between branches and their banks central currency vaults for the previous ___________ months. Make available copies of management reports that indicate the monthly volume of ACH activity, including IATs. On-demand (20 mins.). Provide management reports covering 25 to 50 of the largest, most active, and most profitable NDIP customers. General Order 1A has therefore been rescinded and replaced by General Order #1B, effective May 8. Legal entities, whether domestic or foreign, can be used to facilitate money laundering and . Provide a list of the locations of foreign branches and offices, including, if possible, the host country regulatory agency and contact information. Discuss the CFPBs recommendations to prevent and respond to senior financial exploitation. On-demand (30 mins.). Training and testing materials (if training-related testing is used by the bank), and the dates of training sessions should be maintained by the bank. Find out the story behind farm bank lending's increase in spite of the many challenges in 2022. The formal requirements for financial institution compliance under the Bank Secrecy Act (BSA) continue to be significant. Provide a description of the method for aggregating customer holdings and activities across business units throughout the organization. Make available copies of policies, procedures, and processes for complying with, If applicable, a copy of the banks most recent notification form to voluntarily share information with other financial institutions under, If applicable, make available copies of policies, procedures, and processes for complying with. Make available a list of IATs (both those originated from or received by the bank). On-demand (65 mins.). Initial and/or ongoing due diligence policy/procedures for third-party distributor or program manager that markets, distributes or supports any aspect of the prepaid card program. Each track emphasizes one of the fundamental pillars of cybersecurity: People, Processes, and Technology. Tuesday, July 11, 2023 On-demand. File of correspondence requesting TINs for bank customers. Access to contracts or agreements with foreign financial institutions that have payable through accounts. Provide a list of the banks private banking accountholders who meet the following criteria: Politically exposed persons (PEP), export or import business owners, money transmitters, Private Investment Companies (PIC), financial advisers, offshore entities, or money managers (when an intermediary is acting on behalf of customers). [20]12 CFR 208.63(c)(4) (Federal Reserve); 12 CFR 326.8(c)(4) (FDIC); 12 CFR 748.2(c)(4) (NCUA); 12 CFR 21.21(d)(4) (OCC). Customers who were introduced to the bank by individuals previously employed by other financial institutions. Provide a copy of account documentation requirements and applications for insurance products. Documentation of any positive match for a section 314(a) request. You must complete the following courses included in the certificate: The estimated time to complete these 10 courses is approximately 8 hours. Find out when to block property and when to reject prohibited transactions. For loans secured by cash collateral, marketable securities, or cash surrender value of life insurance products: Provide a list of all loans that have defaulted since the previous BSA/AML examination, including those that were charged off. (e.g., suspicious activity monitoring), independent testing, or training may be managed centrally. Examination Procedures Procedures that provide guidance to examiners for carrying out BSA/AML and OFAC examinations Resources Additional resources published by FFIEC members, FinCEN, and OFAC / View the online BSA/AML Examination Manual and Procedures. Provide a risk assessment relating to trade finance activities, including a list of any higher-risk trade finance transactions, accounts, or relationships identified by the bank. Explore common OFAC violations and some tips on how to best prevent them. -Colleen Kelly In this session we will explore how credit unions can play a critical role in combatting this heinous crime. The list below includes materials that examiners may request or request access to for a bank BSA/AML examination. Provide a risk assessment covering NDIP customers and transactions. Make available copies of policies, procedures, and processes specific to the foreign branch or office, if different from the parents policies, procedures, and processes. Credit unions must report all currency transactions over $10,000, whether the transaction is suspicious or not. Provide management reports covering 25 to 50 of the largest, most active, or most profitable private banking customers. While the board of directors may not require the same degree of training as banking operations personnel, the training should provide board members with sufficient understanding of the banks risk profile and BSA regulatory requirements. Explore options for collecting and verifying required identifying information when a member does not have a SSN or street address. BSA/AML monitoring reports, including documentation describing process enhancements/changes implemented. Make available copies (or a log) of criminal subpoenas received by the bank since the previous examination or inspection. Identify NCUAs Risk Assessment examination expectations. The type and frequency of reviews and resulting reports used should be commensurate with the bank's BSA/AML risk profile and appropriately cover . These programs, as well as many others, are available toCUNA Training Bundleusers at no additional cost. Provide management reports that indicate the monthly volume of e-banking activity. 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