1. Monitoring High Risk Transactions
This BSA/AML (Bank Secrecy Act/ Anti Money Laundering) compliance training will help
attendees understand, identify and mitigate the risks associated with high risk transactions.
Why Should You Attend:
An effective BSA/AML compliance program controls risks associated with the institution’s
products, services, customers, entities, and geographic locations; therefore, en effective risk
assessment should be an ongoing process, not a one-time exercise. Monitoring your risks
includes monitoring your transactions, especially your high risk transactions.
Per the FFIEC Manual: The development of the BSA/AML risk assessment generally involves
two steps: first, identify the specific risk categories (i.e., products, services, customers, entities,
transactions, and geographic locations) unique to the institution: and second, conduct a more
detailed analysis of the data identified to better assess the risk within these categories.
Several examples of a system of internal controls will help you document your monitoring
program.
Areas Covered in the Webinar:
Resources.
Accessing the data: What are the obstacles? Core system, teller system, BSA monitoring
program, etc.
How did the activity occur? In person, telephone, internet, wire, ATM, or ACH.
Sample risk assessment for products and services.
Systems of internal controls.
Managing Non Resident Aliens.
Documenting and Monitoring a Cash In and Cash Out Report.
Who will Benefit:
Financial Officers
Bank Secrecy Act Officers
Front Line Staff
Risk Officers
Operational Managers
For more details visit us at:
http://www.complianceonline.com/ecommerce/control/trainingFocus/~produc
t_id=703001?channel=Doc_organic