AML Risks in Correspondent Banking-What You Should Know for 2020


Thomas E Nollner  is keynote speaker at ComplianceKey he has more than 38 years of experience in financial institution supervision and consulting. Mr. Nollner spent 30 years as a National Bank Examiner (NBE) for the Comptroller of the Currency where he was a safety and soundness examiner and a compliance examiner. The last 15 years as an NBE and for the past 8 years as a consultant, Mr. Nollner has specialized as an AML/CFT examiner/consultant. In these roles he has analyzed financial institution's AML/CFT programs to ensure that they complied with applicable AML/CFT laws, rules, and regulatio........

Overview

Correspondent banking relationships have become a hot topic with BSA/AML over the past few years. The U.S. Treasury Department has placed more importance on the examination of correspondent banking relationships and has added more guidance related to the issues of "de-risking (terminating/exiting current correspondent banking relationships). This training session will highlight why it is essential to know the risks related to correspondent banking relationships, regulatory guidance issued for maintaining these relationships, and the concept that financial institutions can always make a business decisions as they see fit.

Why should you attend this webinar?

There are many risks related to acquiring, maintaining, and supervising correspondent banking relationships which employees and management of financial institution's need to be aware of and actively manage. With the enhanced scrutiny by regulators of a financial institution's compliance program regarding correspondent banking relationships and the trend for financial institutions to rethink their decisions to maintain these relationships, it is essential that employees and management of financial institutions are aware of and fully understand correspondent banking regulations and guidance. This course will discuss the many issues related to KYC, CDD, risk rating, and the suspicious activity process as these relate to maintaining foreign correspondent relationships. In addition, the course will discuss the "de-risking" issue (a bank terminating a foreign correspondent relationship) and other current trends related to foreign correspondent banking.

Areas Covered in the Session:

  • Risks related to foreign correspondent banking
  • US regulations addressing foreign correspondent banking
  • Responsibilities of the correspondent and respondent bank
  • KYC, CDD/EDD and the suspicious activity process
  • FFIEC recommended examination procedures
  • How nesting should be addressed by the respondent bank
  • The need for on-going communication between the correspondent and the respondent

Who can Benefit:



Webinar Id: LSHCTN0012

Training Options:

Duration: 60 mins

 12/16/2019

 10:00 AM PT | 01:00 PM ET

 Single Attendee: [Only for one participant]

$179 (Live)                    $275 (Live + Recorded)

 Multiple Attendee: [For a group of 2-5 participants]

$368 (Live)                    $649 (Live + Recorded)

 Corporate Attendee: [For a group of 6-10 Participants]

$736 (Live)                    $1067 (Live + Recorded)

 Recorded: [Six month unlimited access]

$231 (Single Attendee) $699 (Unlimited Attendee)

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