Job-Specific BSA for Deposit Operations: SAR Monitoring, 314(a) Requests & CIP

Duration: 60 Minutes
Deposit operations staff must have effective, ongoing training to support several critical BSA requirements. This webinar will focus on three areas that are focal points of transaction testing sections of the BSA exam process. Real-life examples of suspicious activities detected by deposit operations staff will be included, along with practical tips for processing and protecting the confidentiality of time-sensitive 314(a) requests. In addition, examiners have been closely monitoring CIP compliance and many financial institutions have been surprised by the findings.
BSA for Deposit Operations Training
Product ID: 504617
Objectives of the Presentation
  • When an account is opened, what does the front line need to know regarding customer due diligence (CDD), enhanced due diligence (EDD), and beneficial ownership?
  • Risk assessment best practices for CDD and EDD in 2017 - and 2018 changes
  • Tips for monitoring an effective CIP, including case studies
  • Recent enforcement actions on failure to identify, monitor, and report suspicious activity
  • Tips for deposit operations staff to avoid five violation areas
  • Seven steps that should be included in 314(a) procedures
    • Designation of a contact person
    • Notification process
    • Record search
    • Review of potential matches - how are positive matches reported to FinCEN?
    • What types of escalation are required for potential matches and investigation?
    • Confidentiality requirements
    • Best practices for documentation and record retention
Why Should you Attend
This session will include examples of CIP deficiencies in recent BSA enforcement actions and provide additional monitoring tools for deposit operations staff.

Who will Benefit
This informative session is designed for:
  • BSA officers and staff
  • Deposit Operations staff
  • Loan Operations personnel
  • Loan Officers
  • Branch personnel
  • Risk managers
  • Compliance Officers
  • New Account Staff
  • Auditors
$300
Recorded Session for one participant
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  $450.00 Training CD
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  $550.00 Training USB Flash Drive
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  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account 24 hours after the completion of the session
  • Please let us know your thoughts and views at the end of the webinar, your valuable feedback will help us improve
Recorded Session - How it works
  • Login to onlinecompliancepanel with your registered username and password https://www.onlinecompliancepanel.com/login
  • Upon purchase of the recorded session a link will be updated on your OCP Account within 24 hours
  • Please click on the link to access the Recorded Session
  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account after 48 hours of the product Purchase
  • Please share your valuable Feedback at the end of the session
Instructor Profile:
Warren R. Markowitz is an attorney and veteran compliance officer. He has been an active participant in the world wide financial sector since 1994. Mr. Markowitz has provided hands on, direct advisory services to domestic and international financial providers in their dealings with federal and state oversight authorities and self-regulatory organizations, as both a lawyer and an adviser through consulting and technology advisory firms with whom he maintains relationships. His real world experience with regulatory bodies has enabled him to represent his clients with a perspective on resolving matters or concern and avoiding new ones.
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