BSA/AML Top Gun Conference
March 3 - 4, 2020
*Because we endeavor to offer the most timely and relevant topics, the agenda posted here is subject to change. If any changes are made, this page will be updated to reflect the modifications.
What Happened Since Last Year?
A high-level overview of BSA/AML developments from the last twelve months. We'll provide a fast-paced look at enforcement actions, new guidance, CTR Updates, and exam manual updates, and AML matters in the news.
Remarks from FinCEN
Hear directly from FinCEN (invited) what the hot buttons and new initiatives are, with insight into trends in SAR filings and what you need to know now. FinCEN will also discuss recent case studies and updates and virtual currency regulations
Transparency in the BSA Exam: How should you prepare?
The agencies published a joint statement to explain the risk-based approach to the BSA Examination process. However, the guidance does not provide the exact roadmap to which section of the exam procedures they will focus next. Rather it provides insights into the exam scoping process. This session will discuss the questions executive management and the BSA Officer should be asking and where you should focus your attention to ensure your institution is prepared for the next exam.
Lessons Learned from BSA Case Studies
Over time, BSA monitoring and reporting can often become redundant and routine as monitoring efforts don't always have exciting results. It is imperative that BSA professionals remain diligent to ensure that true BSA/AML concerns are not overlooked.
Spoken from the perspective of bankers, this session will provide attendees with practical examples of what could go wrong relating to customer activity and what to look for in their organizations. From local kingpins to abuse of authority to desperate parents, this engaging session will provide several extreme stories of illicit customer activity.
Top 30 BSA/AML Violations
This fast paced and energetic session will review 30 of the most common compliance violations in 60 minutes. Aiming to communicate an average of 2 violations/problem areas per minute, the speaker will walk the tightrope between speed and effective communication. Violations will be compiled from the speaker's experience as an auditor, consultant, and BSA/AML professional as well as a survey of BSA professionals. Topics will be prioritized based on risk so that compliance professional can easily prioritize where to focus limited resources.
Virtual Currency: Exchanges Masquerading as Users
FinCEN restated its virtual currency guidance in the last year indicating that there continues to be a focus in this emerging technology. This session will focus on the suspicious activity red flags your institution should consider based on the guidance, due diligence steps and evaluate recent virtual currency related issues that have made headlines in the last year.
The Bank wants to provide services to that industry?
The FinCEN Culture of Compliance constantly reminds us that we need to balance profit with the infrastructure of managing risk. Many BSA Officers finds themselves faced with Management that has a different risk tolerance. This session will discuss how to manage risk both from within your organization and also those risks that are being introduced to your organization. Learn to speak management's language in terms of profit and loss, understanding staffing needs, the soft costs of compliance and many others.
EDD: It's not just for high risk customers anymore
As we near the timeframe when the FFIEC begins revisions to the Examination Procedures, we've heard rumblings of additional focus on enhanced due diligence. Many institutions have anecdotally shared observations about increased examiner focus on enhanced due diligence documentation and process. This session will cover the evolving expectations of the 5th Pillar.
Hemp, CBD and Marijuana: Where are we today?
The clarity of marijuana, cannabis and their derivates seem more clouded by the "smoke" in the air than ever, Between the USDA, the FDA, Congress, FinCEN, prudential regulators and several state authorities. The session will cover the latest updates to proposed legislation and regulatory guidance to help your institution decide how best to navigate the uncertain terrain. Factor in major tax hurdles these businesses face, and you have a powerful incentive for some of the businesses to break the law.
Other emerging Virtual Currency Issues
In this lightning round, our entire panel discusses a wide range of key topics that don't individually require a lot of time but are nonetheless important.
Steps to a Successful Model Validation
Managing an automated monitoring solution is not as simple as turning on the software, no matter what the sales representative told management. Examiners expect to see that staff understands the data feeds, monitoring parameters and has adequate governance over the system's operation. Just because your vendor says the system is configured to "industry standards" does not mean that it is appropriately configured for your institution's risk profile. This session is tailed to preparing your institution for its next validation, but will also provide benefit for those institutions considering investing in an automated solution as you will be armed with the information that your sales representative may or may not tell you.
Currency Transaction Reporting Instructions Update
Will minimal fanfare, FinCEN released revisions to the CTR Filing instructions for documenting multiple transactions and identifying the role of each person in Part I. This requires updates to batch filing software, adjustments to procedures and retaining for staff. This session will recap the changes and provide some examples to ensure that we implement the new requirements accurately.
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