OFAC and the BSA Exam:  Making the
Compliance Connection
TELEPHONE OR WEBCAST SEMINAR

     2:00-3:30 PM Central Time                  

Many banks are running into problems with regulator scrutiny on the OFAC section of their BSA Exam.  The OFAC program is now a part of that exam and it holds some surprises if it is not understood in detail.  The first surprise is that your bank must have OFAC Risk Assessment.  After that the examiners will want to have a copy of your written policies, procedures and processes. There is also a requirement for employee training on OFAC.  Examiners will review all of your products, transactions, and services to determine if the bank is appropriately handling rejecting and/or blocking of transactions. You also have to have a designated OFAC officer.  And if this is not enough, the examiners may want to review your noncustomer transactions for possible OFAC violations.  This seminar will focus on making the compliance connection between OFAC and regulator requirements on the BSA Exam.  You will receive checklists to test yourself before the examiners arrive and sample policy and procedure guidelines. 

HIGHLIGHTS

•    Writing a Risk Assessment for OFAC
•    BSA Exam requirements for OFAC
•    How do we prove we checked OFAC on accounts and transactions?
•    Do we really have to check all noncustomer transactions for potential violations?
•    Do you have a designated OFAC officer? train your BSA Officer, BSA support staff,
     security Officer, Auditor, Compliance Officer and Frontline Personnel who open accounts
•    Reports and licenses records
•    Record retention for OFAC
•    Maintaining lists and software
•    Procedures to manage blocked accounts
•    Checklists to pass the BSA Exam, Sample Policy and Procedures

WHY SHOULD YOU PARTICIPATE?

This session is a cost-effective way to do your preparation for the OFAC portion of the BSA exam and get the training requirement fulfilled for your bankers.  You may train as many individuals as you like for one set price.  There will be no travel costs, time lost from work and no one will be required to leave the institution.

WHO SHOULD ATTEND?

This informative session is directed to train your BSA Officer, BSA support staff, Security Officer, Auditor, Compliance Officer, Senior Management, Board members and Frontline Personnel who open accounts and may encounter a match.