ACAMS North Texas Chapter June Virtual Event: Applying the Cannabis Risk Management Framework to Financial Institution Due Diligence

六月 17, 2021
12:00PM - 1:00PM CST
オンライン
1 ACAMS Credit

Overview

Create your competitive advantage in cannabis banking by removing onboarding and ongoing due diligence friction through the application of the Cannabis Risk Management Framework (CRMF). Commercial cannabis businesses are considered higher-risk customers. This requires the financial institution to document proof that they can manage the risk of this customer segment. The CRMF provides a risk-based strategy that allows the financial institution to determine if the customer has implemented an effective well-designed risk-based compliance program, which includes demonstrating their appropriate P&P, qualified staff to manage risk, risk assessment, controls tailored to the business’s risk, training, and assurance. Demonstrating these points allows the financial institution to determine if a higher-risk customer is within their risk appetite by showing the customer’s ability to manage their reputational, compliance, and operational risk without the financial institution having to act as the customer’s proxy cannabis regulator.

Sponsor

Credits

1 ACAMS Credit **Please note that ACAMS credit for this virtual event is available to members of the Chapter only.