With all of the excitement and resources credit unions have devoted to lending issues due to the Dodd-Frank rules, it has been far too easy to justify reducing resources in other risk areas of the credit union, including AML/BSA/OFAC. Credit unions need to be careful not to reduce emphasis in this area. This webinar will focus on those portions of AML/BSA/OFAC that examiners are bringing to management’s attention – sometimes in painful (and expensive) ways.
- The issue of customer/member due diligence and enhanced due diligence (and the current proposal)
- Risk assessment of the credit union’s program
- Electronic banking and the risks surrounding this area
- The real requirements of a BSA review (not “What is the minimum we can do?”)
- Consequences of poor resource allocation
- TAKE-AWAY TOOLKIT
- The manual will provide additional background information to use as a basis for future decision making
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
Attendance verification for CE credits provided upon request.
WHO SHOULD ATTEND?
This informative session is designed for AML/BSA/OFAC personnel, credit union management, auditors, and others that participate in or have responsibility for these functions.
ABOUT THE PRESENTER – Bill Elliott, CRCM, Young & Associates, Inc.
Bill Elliott has over 30 years of banking experience. As a senior compliance consultant and manager of the compliance division with Young & Associates, Inc., Bill works on a variety of compliance-related issues, including leading compliance seminars, conducting compliance reviews, conducting in-house training, and writing compliance articles and training materials.
Bill’s career includes 15 years as a compliance officer and CRA officer in a large community bank, as well as working at a large regional bank. He has experience with consumer, commercial, and mortgage loans, and has managed a variety of bank departments, including loan review, consumer/commercial loan processing, mortgage loan processing, loan administration, credit administration, collections, and commercial loan workout.
|Over $75 million
|$25 - $75 million
|Under $25 million
Scholarships are available for all KCUA education events. Scholarships pay 100% of registration fee for credit unions under $25M, 50% for credit unions between $25-$75M and 25% for credit unions over $75M.
Upon registration, you will receive an email confirmation that you can print for your records.