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Monitoring High Risk Transactions
- Resources
- Accessing the data: What are the obstacles? Core system, teller system, BSA monitoring program, etc
- How did the activity occur? In person, telephone, internet, wire, ATM or ACH
- Sample risk assessment for products and services
- Systems of internal controls
- Managing Non Resident Aliens
- Documenting and Monitoring a Cash In and Cash Out Report
Overview of the webinar
This BSA/AML (Bank Secrecy Act/ Anti-Money Laundering) compliance training will help attendees understand, identify and mitigate the risks associated with high-risk transactions.
As a compliance and BSA officer, Doug Keipper was tasked with training his bank on all regulations. This course was developed from conversations with FBI, Department of Homeland Security, Banking Regulators and the Financial Task Force of the DEA.
Who should attend?
- Financial Officers
- Bank Secrecy Act Officers
- Front Line Staff
- Risk Officers
- Operational Managers
- BSA Analysts
- BSA Investigators
- CFOs
- Bank or Credit Union Operations Officers
Why should you attend?
An effective BSA/AML compliance program controls risks associated with the institution’s products, services, customers, entities, and geographic locations; therefore, en effective risk assessment should be an ongoing process, not a one-time exercise. Monitoring your risks includes monitoring your transactions, especially your high risk transactions.
Per the FFIEC Manual: The development of the BSA/AML risk assessment generally involves two steps: first, identify the specific risk categories (i.e., products, services, customers, entities, transactions, and geographic locations) unique to the institution: and second, conduct a more detailed analysis of the data identified to better assess the risk within these categories.
Several examples of a system of internal controls will help you document your monitoring program.
Faculty - Mr.Doug Keipper
Doug Keipper, is a Certified Anti-Money Laundering Specialist (CAMS) since 2005 and former BSA officer and compliance officer for an $800M commercial bank in Atlanta before it sold twice in one year. He has taught anti-money laundering throughout the southeast and on-line since 2008. He has spent over 20 years in retail banking, wholesale mortgages and financial services.