Establishing Transaction Limits for BSA/AML Monitoring
- Speaker:Dr Gina J. Lowdermilk
- Product Code:GRC-90160
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Financial institutions are required to be compliant with BSA rules and regulations. Such compliance needs to be well documented and consistent to ensure financial institutions avoid BSA violations and implications. Financial institutions’ BSA programs must have adequate policies and procedures, comprehensive risk assessments, monitoring programs, training programs, qualified employees overseeing the BSA daily operations and independent testing programs. An effective BSA audit program with appropriate established transaction limits will ensure the BSA rules and regulations and the needs of the financial institution. Having appropriate transaction limits will ensure that financial institutions are proactive in preventing BSA violations occurring and implementing corrective action for BSA issues or implications that may be identified in the BSA program.
This webinar will highlight BSA audit best practices that are being acknowledged and recognized by regulators and examiners with regard to an institution establishing appropriate transaction limits for their monitoring program.
Why Should You Attend:
Although financial institutions have been managing BSA operations per the regulation requirements, the change in focus to BSA audits has become increasingly important. Regulators look to the bank for insurance and evidence that BSA operations are being appropriately completed. Having appropriate transaction limits established for monitoring purposes will aid in ensuring the institution is BSA/AML compliant.
“Establishing Transaction Limits for BSA/AML Monitoring” will highlight the evolution of BSA audit best practices. The areas of focus outlined in this webinar are based on best industry practice, supervisory experience and cover the major components of an effective BSA program that audit focuses on. It will look at these areas and the specifics of each area as it pertains to BSA audits.
Areas Covered in the Webinar:
- Determining appropriate transaction limits
- Assessing policies and procedures
- Review of monitoring programs
- Determining effectiveness and thoroughness of established transaction limits
- Ensuring qualified employee oversight of appropriate transaction limits
- Independent testing
Who Will Benefit:
- BSA / AML Officers
- Internal Auditors
- Staff with roles and responsibilities in BSA / AML management and oversight
- Financial Officers
- Corporate Audit
Gina J. Lowdermilk, PhD (ABD), CAMS, CRMS is a highly experienced and educated BSA/AML and Financial Regulatory Compliance professional with extensive policy and procedure development and implementation, training, internal audit, monitoring, risk management, and reporting experience. Her emphasis has been working with financial institutions that are experiencing regulatory concerns and resolutions, including enforcement actions such as memorandums of understanding and cease and desist orders. Her 15 years of experience has given her the opportunity to work from small community banks to large, international financial institutions. Her roles not only included BSA/AML and Compliance, but also operations, lending services, business development, marketing, management, department development, and asset quality.
Ms. Lowdermilk has worked with all of the financial regulators and examiners. She possesses advanced Microsoft Excel, PowerPoint, Word, Internet Explorer, Visio, and Access skills. She also has experience with FiServ, BAM, CRA Wiz, TeamMate, COGNOS, and Metavante banking software. She has been responsible for creating both recurring and ad hoc executive management and board presentations. In addition to her above experience, she is also an adjunct instructor for the business and construction management programs at a local college, as well as writes numerous BSA/AML and Compliance articles, training materials, and manuals as requested from numerous clients.
GRCTS is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org