Lessons Learned: Integrating FinCEN’s CDD Final Rule into Compliance Programs

  • When: December 12, 2018
  • Time: 12PM – 2PM ET
  • Level: Intermediate, Advanced

FinCEN’s Customer Due Diligence (CDD) Requirements for Financial Institutions or CDD Final Rule became effective May 11, requiring regulated entities to strengthen CDD and beneficial ownership protocols at onboarding and beyond. Panelists will discuss obstacles to – and solutions for – meeting the rule’s requirements, while addressing remaining regulatory gray areas and functional issues such as training staff, obtaining adequate information technology support and maintaining a positive customer experience.

Learning Objectives

  • Reviewing implementation challenges such as establishing thresholds for beneficial ownership determination of legal entity customers
  • Formalizing policies for initiating event-triggered account reviews to ensure beneficial ownership and client risk assessment information is current and conforms to regulatory standards
  • Identifying and resolving systemic oversight challenges such as adequacy of ongoing monitoring to mitigate regulatory risks and serve institutional risk management goals
  • Creating and conducting targeted training programs to address unique CDD Final Rule requirements and attain consistent oversight practices and standards throughout enterprise

Who Should Attend

  • Compliance Personnel
  • Industry Counsel/Consultants
  • On-boarding and Relationship Managers
  • Bank Executives and Directors

Region/Industry

  • Banking
  • Legal
  • Auditing
  • Global

Pricing

ACAMS Members Non-Members
$195 $295
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Moderator

John J. Byrne
  • John J. Byrne, Esq., CAMS

  • Vice Chairman
  • AML RightSource

Speakers

Lauren Kohr
  • Lauren Kohr, CAMS-FCI

  • SVP, Chief Risk Officer
  • Old Dominion National Bank

Bio

Ms. Kohr’ s background includes more than eleven years of experience in the financial sector with significant experience in BSA/AML and OFAC compliance. Currently, Ms. Kohr serves as the Senior Manager over AML/BSA governance and policy within the Financial Intelligence Unit at Pentagon Federal Credit Union in Alexandria, VA. Ms. Kohr is responsible for several aspects of the BSA Compliance program including risk assessments, policy/procedures, AML/BSA governance, quality assurance, and merger and acquisition due diligence. Prior to her current role, she was the VP/Director of AML/BSA/OFAC at Metro Bank. During this time, she was responsible for developing, implementing and overseeing all aspects of the Bank Secrecy Act Compliance Program, including USA Patriot Act, Anti-Money Laundering, and OFAC regulations. Ms. Kohr is continuously recognized as a technical expert on the Bank Secrecy Act and a financial crimes subject matter expert with particular strengths in BSA/AML compliance and program management, governance, process improvement/ implementation and quality assurance/audit reviews.

Ms. Kohr was the 2016 ACAMS AML Professional of the year and authored the 2016 ACAMS Article of the Year. Ms. Kohr is a frequent guest speaker at numerous conferences both domestically and internationally on AML/BSA/OFAC related topics. She serves on the ACAMS U.S. Capital Board of Directors and was previously the president of the Central PA BS/AML/CTF user Group and PBA Marijuana Legalization Implementation Task Force in Harrisburg, PA. She is currently CAMS-FCI certified.


Myrna-Olvera
  • Myrna Olvera, CAMS

  • SVP BSA Program & Head of FIU
  • East West Bank

Daniel P Stipano
  • Daniel P Stipano

  • Partner
  • Buckley Sandler LLP

Bio

Dan Stipano brings more than three decades of bank regulatory and enforcement experience to his position as a partner in BuckleySandler LLP’s Washington DC office. In his practice he advises on all aspects of bank regulatory and compliance issues, represents clients in state, federal, and foreign banking enforcement actions, and provides assistance in establishing, maintaining, and monitoring Bank Secrecy Act and Anti-Money Laundering (BSA/AML) compliance programs.