October 5, 2023
Location: BankIn Minnesota - SHAZAM Education Center | 7900 International Dr, Ste 685 | Bloomington MN 55425
$345 - Bank Member
$690 - Prospective Member
This full day seminar covers all key elements of BSA compliance programs for non-complex community banks with community bankers in mind, to take the guess work out of regulatory expectations. Get answers to your questions as Keith provides working examples and practical solutions that will assist your Institution in meeting your BSA/AML regulatory requirements. In addition, network with your colleagues in the industry to compare and share!
Attending this seminar will enable you to: Identify proper high-risk customers, products, and services; Recognize common pitfalls and problem areas; Avoid common violations at an examination and meet your annual training requirement.
What constitutes an adequate BSA Compliance program and when do regulators use enforcement actions?
- New BSA developments, including new regulatory updates and FinCEN’s Q&A’s
- CTA’s (Corporate Transparency Act) new Beneficial Ownership Information reporting provisions
- Legalizing cannabis/marijuana and the corresponding BSA requirements for Minnesota Bankers
- How to proactively anticipate changes in criminal behavior as activity evolves
- Why is a risk assessment important and how should I keep it updated
- Review key Anti-Money Laundering regulatory changes and updates
- Understand requirements and avoid common problem areas of:
- Currency Transaction Reports and exemptions
- Suspicious Activity Reports – including elder abuse, mortgage fraud, marijuana-related businesses, fentanyl and synthetic opioids, cyber-events and
cyber-related crimes, disaster-related fraud, plus confidentiality rules
- Customer and Enhanced Due Diligence rules
- Beneficial Ownership requirements
- Monetary Instruments
- Funds Transfer Recordkeeping
Office of Foreign Asset Controls (OFAC)
- What constitutes an adequate OFAC compliance program and what will the examiners review
- Sanctions programs, requirements, lists, and screening
USA PATRIOT ACT (Customer Identification Program)
- Identification and verification requirements
- Learn how to properly handle law enforcement search request
- Understand Customer Identification Program (CIP) pitfalls
Avoid common problem areas and common violations
Presenter: Keith E. Monson, CRCM, CERP is the Executive Vice President/Chief Risk Officer for First Bank of the Lake. He has over 30 years of banking experience and frequently speaks on a variety of compliance related issues. Mr. Monson has compliance experience with both large and small financial institutions and has also provided compliance management assistance to banks as a compliance consultant. He is a past Chairman of the CRCM Advisory Board and a former member of the Certification Council for the Institute of Certified Bankers. He teaches many Federal Compliance Schools nationwide annually.