Risk-Based Approaches: Onboarding MSBs and Issues for MSBs in Securing Banking Services

Sponsored by

Nice Actimize
  • When: November 8, 2017
  • Time: 12:00 PM – 2:00 PM ET
  • Levels: Intermediate – Advanced

Establishing and maintaining relationships between banks and money service businesses (MSBs) remains a concern for compliance professionals who need to avoid conflicting with AML regulations. In order to provide financial services to MSBs, including cash ordering services, working capital lines of credit and back room processing expertise, banks need clear requirements for MSB onboarding and ongoing due diligence. MSBs must also formalize KYC policies and risk management systems to satisfy banker expectations. Our panel brings together bankers and MSB operators to share their insights for collaborative approaches and risk-based practices that can improve, obtain and retain these partnerships.

Learning Objectives

  • Negotiating terms of relationship management, including procedures for account monitoring for successful bank/MSB relationships
  • Developing KYC policies, auditing CDD processes and strengthening risk management systems to satisfy banker expectations
  • Identifying business lines and services that foster better banking and MSB relationships

Who Should Attend

  • Compliance Personnel
  • Industry Consultants
  • Risk Managers
  • MSB Managers
  • On-boarding Managers


  • Global
  • North America
  • MSBs
  • Banking


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Anthony Rodriguez
  • Anthony Rodriguez, CAMS

  • Chief Risk Officer
  • AFEX


Carolina Ceballos
  • Carolina Dominguez-Ceballos, CAMS

  • Western Union

Joe Soniat
  • Joe Soniat, CAMS-FCI

  • Vice President – BSA AML Officer
  • Union Bank and Trust


Joe Soniat is the Director of the Financial Intelligence Team and the BSA/AML Officer at Union Bank and Trust; one of the largest community banking organizations in Virginia. Joe worked as a finance officer for the U.S. government from 2002-04 and also serves on the BSA Coalition Advisory Board, which comprises bankers and regulatory representatives from federal and state agencies throughout the fifth district of the Federal Reserve.

  • Perla Stoeckert, CAMS

  • Head of Compliance
  • OFX