FFIEC BSA/AML Examination Manual: What Compliance Officers Really Need to Know?

OVERVIEW

This webinar will go through the revised FFIEC Bank Secrecy Act/Anti-Money Laundering Examination Manual to highlight changes and areas where banks should review their internal policies, processes, and procedures for compliance. Understanding these changes will keep you prepared and updated for your next BSA/AML examination.

The FFIEC BSA/AML Examination Manual (Manual) provides instruction to examiners for assessing a bank’s anti-money laundering/countering the financing of terrorism (AML/CFT) program and its compliance with other AML/CFT regulatory requirements. New and revised Manual sections and Future updates to other Manual sections will be discussed.

WHY SHOULD YOU ATTEND?

The agencies that comprise the Federal Financial Institutions Examination Council (FFIEC) released an update of the FFIEC Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual. The revised manual provides current guidance on risk-based policies, procedures, and processes for banking organizations to comply with the BSA and safeguard operations from money laundering and terrorist financing.

This webinar will go section-by-section of the manual to highlight areas where banks should review their internal policies, processes, and procedures to ensure they are in compliance and discuss changes to BSA requirements.

LEARNING OBJECTIVES

• Introduction
• Exam Best Practices
• Overview of FFIEC Examination Manual
• Recent changes to the FFIEC Examination Manual

AREAS COVERED

• AML Risk Assessment
• BSA/AML Compliance Program
• Customer Identification Program (CIP)
• Customer Due Diligence/Enhanced Due Diligence (CDD/EDD)
• Suspicious activity and currency transaction reporting
• Foreign correspondent accounts and recordkeeping
• International Transportation of Currency or Monetary Instruments Reporting (CMIR)
• Bulk shipments of currency
• Automated Clearing House (ACH) transactions and third-party service providers
• Prepaid access
• Third-party payment processors
• Embassy, foreign consulate, and foreign mission accounts
• Non-Bank Financial Institutions
• Cash Intensive Businesses
• Non-Governmental Organizations and Charities

WHO WILL BENEFIT?

• Risk and Compliance Management
• Trainers
• Compliance Officers
• Lenders 
• Operations Personnel 
• Branch Managers 
• Collectors
• Assistant Branch Managers 
• Customer Service Reps 
• Risk Officers 
• Consultants in the AML/BSA Industry specializing in MSBs
• Bank and MSB Staff with Roles and Responsibilities in BSA/AML Management and oversight