Location: Online – this presentation will be pre-recorded and sent out to registrants on the morning of Thursday, April 5. Attendees can watch the program at their own discretion, and there is no time limit or limited number of viewings.
Registration: $250 (Early Bird – 3/29) / $300 (Regular – after 3/29)
This is a must attend program for BSA Officers and their staff, Compliance Officers, Deposit and Branch Operation Officers and their staff, Commercial Loan New Account personnel, and Auditors.
Twenty-three months of Beneficial Ownership angst behind us, about one month to mandatory kick-off time. This Beneficial Ownership training program will address bank responsibilities and decision-making from an internal perspective for the trainers who work in banks and have been tasked with developing an implementation plan. This session is also going to address the 5th Pillar requirements and how they apply to beneficial owners.
This program will cover the following items:
- Issues, tasks, and actions where banks likely should be past, or close to, the finish line
- What types of organizations, or entities, are exempted from the new rule, as well as the types of entities that are going to be the most challenging
- Review of the current Beneficial Ownership guidance in the BSA/AML Exam Manual to know what to expect from auditors or examiners
- How to deal with the BSA Risk Assessment and the timing of that risk assessment in the coordination of the new rule
- Use of a good old paper Certification Form versus a “soft” solution
- Beneficial Ownership Language and 5th Pillar Language that might already be in your BSA Policy versus new language that will need to be developed
- What, if any, impact of the following: OFAC, 314(a), CTR co-mingling and aggregation
- “Hard” requirements provided by FinCEN in the Preamble versus “soft” guidance obtained during phone calls to FinCEN
- CD Renewals, Revolving Line of Credit Renewals, Loan Participations, etc…
- Who in the bank needs to be trained and what they need to know
- What changes need to be made to account opening methodology
You won’t want to miss this informative session!
Don Blaine – Senior Vice President & Compliance Director, Nantahala Bank & Trust
Don has over 30 years of experience in banking compliance for banks ranging in size from small community banks to Bank of America. His prior roles have included: Chief Compliance Officer, Senior Compliance Regulatory Examiner, Compliance Audit Manager, among others. He’s well positioned to discuss all sides of the compliance triangle as he has served as a federal compliance examiner and a compliance auditor, in addition to his roles in compliance’s second line of defense at banks. He is considered a subject matter expert in many of the alphabet soup consumer affairs laws and regulations, both on the lending and deposit side of the bank, and also specializes in the BSA. He has taught at the ABA’s National Compliance School and has also served as an instructor on BSA and compliance topics at training programs offered by a number of state banking associations.