Monitoring High Risk Transactions
Instructor:
Doug Keipper
Product ID: 703001
- Duration: 60 Min
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, an 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.
Areas Covered in the Webinar :
- 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.
Who Will Benefit :
- Financial Officers
- Bank Secrecy Act Officers
- Front Line Staff
- Risk Officers
- Operational Managers
Doug Keipper
Certified Anti-Money Laundering Specialist, Leading Bank
Doug Keipper, is a Certified Anti-Money Laundering Specialist (CAMS) since 2005 and a Bank Secrecy Act Officer for a $1 billion dollar bank.
Doug sold BSA software for eight years and has taught anti-money laundering classes since 2008 throughout the southeast and online.
He has talked with over 500 BSA officers throughout the USA and Caribbean.
He has spent over 20 years in retail banking, wholesale mortgages and financial services.
Topic Background:
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.
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