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Corporate Risk Assessment: Before You Begin
May 14, 2008
12:00PM - 2:00PM ET | 11:00AM - 1:00PM CT
10:00AM - 12:00PM MT | 9:00AM - 11:00AM PT
Developing a risk assessment model tailored to your institution’s particular corporate structure can improve resource allocation, increase efficiency and strengthen company wide defenses against money laundering. But developing such a program is not easy. And it may well meet resistance from key players. In this session, you will learn how to navigate the political waters of your institution and to lay the groundwork to implement corporate risk assessment and integrate it into existing operations. You will also find out how to involve the right people in reviewing business lines and assessing product risks.
Speakers:
Frank Ewing, CAMS,
Manager – Advisory
KPMG LLP
Maria de Lourdes Jimenez, Esq.
Senior Vice President and Division Head Manager
Popular Inc
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Identifying Beneficial Owners: Tips for an Essential, But Difficult Job
June 11, 2008
12:00PM - 2:00PM ET | 11:00AM - 1:00PM CT
10:00AM - 12:00PM MT | 9:00AM - 11:00AM PT
Obtaining and more importantly verifying independently the beneficial owners of entities is crucial to ensure that proper due diligence is conducted. But that is easier said than done. How do you deal with jurisdictions where verifying beneficial ownership is impeded by lax transparency requirements? And when it comes to complex corporate structures, do you have the investigative resources that are required? Plus, how do you get the support of your own wealth management officers, who must dig into the portfolios of clients whose trust in them is based heavily on confidentiality? In this session our experts will offer insight and advice to various industries that handle the vexing task of identifying beneficial ownership.
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U.S. Regulatory Reform: How the Changes Would Affect Your AML Program
July 16, 2008
12:00PM - 2:00PM ET | 11:00AM - 1:00PM CT
10:00AM - 12:00PM MT | 9:00AM - 11:00AM PT
In March 2008, the Treasury Department unveiled sweeping reforms that would expand Federal Reserve oversight, combine the Securities and Exchange Commission with the Commodities Futures Trading Commission, and transfer the duties of the Office of Thrift Supervision to an expanded Comptroller of the Currency. How would these vast regulatory reforms affect your institution – and your compliance program? What changes might you see in your Bank Secrecy Act obligations? In this seminar, we’ll examine the current operations of the major U.S. financial regulators and tell you what these reforms may mean to your compliance programs.
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Insurance Companies: Preparing for Your Next Regulatory Examination
August 13, 2008
12:00PM - 2:00PM ET | 11:00AM - 1:00PM CT
10:00AM - 12:00PM MT | 9:00AM - 11:00AM PT
U.S. life insurers have been under stiff anti-money laundering (AML) rules since May 2006, when providers were first required to meet Bank Secrecy Act requirements. That meant insurers must maintain AML programs, must report suspicious activity – and must submit to Internal Revenue Service (IRS) examinations. But gaps in the guidance and training offered by the IRS have left many insurers puzzled and fearful about regulatory scrutiny. In this web seminar, you’ll get valuable information and leading industry recommendations from experts on how to prepare for the regulators’ visit. That way, when it’s examination time you’ll have the answers you need.
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Latin America Focus: Banking with Potentially Unstable Countries
September 17, 2008
12:00PM - 2:00PM ET | 11:00AM - 1:00PM CT
10:00AM - 12:00PM MT | 9:00AM - 11:00AM PT
The U.S. may soon designate Venezuela a state sponsor of terrorism because of its apparent links to Colombian guerillas, an action that could have major repercussions for U.S. companies and investors. The designation could also trigger restrictions on U.S. official aid and foreign assistance and on the export of dual use items – those with civilian and military applications. How might your institution be affected? In this session, you’ll find out what preparations your financial institution should be making now if it does business with Venezuela, and learn what may happen if the U.S. takes action.
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Money Services Businesses: Agent Training and Documentation
October 22, 2008
12:00PM - 2:00PM ET | 11:00AM - 1:00PM CT
10:00AM - 12:00PM MT | 9:00AM - 11:00AM PT
After the multimillion-dollar penalty on the Sigue Corporation sent shockwaves through the Money Services Business (MSB) industry, the compliance bar has been set even higher. Many MSBs, and the regulators that monitor them, believe one of the industry’s greatest AML vulnerabilities is posed by agents who work for multiple remitters. How can firms educate their agents about compliance duties – and monitor them properly? In this session, learn how to implement a “know your agent” program and find out what your review process should cover. Get guidance on maintaining high-quality data and solid documentation. Learn how a top-notch training program can protect your institution from some of the riskiest activities MSB agents perform.
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Cross-Border Transactions: Mitigating the Risks
November 12, 2008
12:00PM - 2:00PM ET | 11:00AM - 1:00PM CT
10:00AM - 12:00PM MT | 9:00AM - 11:00AM PT
As the global economy grows ever more interconnected, and the volume of cross-border transactions soars, as does the opportunities for launderers and terrorists to exploit the financial system. How can you protect your institution from these threats and respond to government demands for greater information-sharing between jurisdictions? What’s the best way to ensure that data on wire transfer originators is meaningful and accurate? In this session, experts will describe best practices for handling cross-border transactions. You’ll learn how to comply with the travel rule, find out what the implications may be of U-turn transactions – and gain practical know-how to enable you to keep your institution safe and secure.
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Centralizing Compliance Functions: What Factors to Consider
December 10, 2008
12:00PM - 2:00PM ET | 11:00AM - 1:00PM CT
10:00AM - 12:00PM MT | 9:00AM - 11:00AM PT
Since 2001, financial institutions of all kinds have faced a steep increase in their anti-money laundering/counter-terrorist financing (AML/CTF) duties – along with intense pressure both to control costs and to widen their offerings of new products and services. Your bank’s recent examination findings, AML program size and risk profiles all contribute to identifying how complex your compliance structure is and its ability to synergize its functions. Could your institution benefit from centralizing AML/CTF operations? This seminar will examine what factors your institution should consider when deciding whether to consolidate its fraud and AML efforts to concentrate investigative resources and cut costs – without sacrificing regulatory obligations.
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