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AML and New CDD Requirements
- FINCEN’s new CDD rule basic information
- Purpose and Requirements
- Fifth Prong Concept
- Policies and Procedures
- Training
- Consequences for non-compliance
Overview of the webinar
Most financial institutions have AML programs in place but may not be comprehensive to include the new FINCEN CDD rule. Although they are in place, they need to expanded to ensure it is properly address the fifth prong to be include in the program. This topic will help attendees better understand this fifth prong and how the new CDD rule fits into their existing AML program. Best practice guidelines relating to these will be addressed as well as consequences for failing to addressing them accordingly.
Who should attend?
- BSA Compliance Officers
- BSA Personnel
- Account Opening Personnel
- Deposit Operations
Why should you attend?
By understanding the obligations as it pertains to the AML, the opportunity to be non-compliant with their requirements will be mitigated more effectively and certain associated problems can be addressed and resolved more efficiently and effectively. Enhanced CDD will ensure it is being effective with its oversight of its customersand helping mitigate the potential of financial crimes from occurring.
Faculty - Dr.Gina J. Lowdermilk
Dr. Gina J. Lowdermilk, Ph.D. (ABD), CAMS, CRMS is a highly experienced and educated BSA/AML and financial regulatory compliance professional with extensive experience in policy and procedure development and implementation, training, internal audit, monitoring, risk management and reporting. Her emphasis has been working with financial institutions that are experiencing regulatory concerns and resolutions, including enforcement actions such as memorandums of understanding and cease and desist orders. Her 15 years of experience has given her the opportunity to work from small community banks to large, international financial institutions. Her roles not only included BSA/AML and compliance, but also operations, lending services, business development, marketing, management, department development, and asset quality.
Dr. Lowdermilk has worked with almost all financial regulators and examiners. She possesses advanced Microsoft Excel, PowerPoint, Word, Internet Explorer, Visio, and Access skills. She also has experience with FiServ, BAM, CRA Wiz, TeamMate, COGNOS and Metavante banking software. She has been responsible for creating both recurring and ad hoc executive management and board presentations. In addition to her above experience, she is also an adjunct instructor for the business and construction management programs at a local college, as well as writes numerous BSA/AML and compliance articles, training materials, and manuals for numerous clients.