Customer Identification Programs: Robust and Efficient Design (Audio/Visual CD-ROM)
Customer Identification Programs (CIP) have become an indispensable tool for assessing risk and carrying out mandated Know Your Customer procedures. But CIPs are tricky to design and administer. They can be expensive to run, and can drive off privacy-minded customers. How can those downsides be minimized? What are the advantages to using intermediaries for customer due diligence exams? Our experts offer practical solutions on balancing compliance duties with business logic to create CIPs that please both regulators and bosses.
The Experts:
Lynda Cassell
Lynda is responsible for enterprise wide AML policies and procedures for ABN AMRO North America. She has over 17 years experience in regulatory compliance, with the last 5 years dedicated to AML. She has worked on various global AML policy issues, including the implementation of CIP both domestically and internationally. Previously she was a Vice President of HSBC North America and the Bank Secrecy Act Officer at JPMorgan Chase.
Sandy Lenoir, CAMS
Lenoir is the Deputy AML Officer for Société Générale - New York and SG Americas Securities LLC. In his role at these institutions he specializes in correspondent banking as well as institutional and corporate and investment banking customer creation. Sandy has also advised on and created procedures to mitigate risks related to high risk country wire transfers and due diligence standards, for exceptional and high-risk cases. In addition, he also serves as an advisor to the SG "Know Your Customer" team, which applies the Wolfsberg Due Diligence principles.
Recorded: March 28, 2007
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