BSA Board of Director Talks

Produced and Written by:  Gettechnical Inc.

BSA Board of Director Talks are a series of conversations about Bank Secrecy Act topics for the Board of Directors and Senior Management.  This series’ purpose is to create unique short educational programs for both professional development and increasing expertise of our Board of Directors.  It is a more casual approach to learning fundamentals about BSA compliance and OFAC topics.  It is from the management point of view.   Designed for weekly or monthly meetings, orientation or ongoing development of your directors, these Talks are a new approach which will complement and enhance your already developed new and on-going Board of Directors training programs.  You can deliver them to your Board on your Learning Management System or through the MP4 file it is on.

Included:

20 programs under 15 minutes

Certificate of Completion

Sign In Sheet

 

Target Audience: Board of Directors and Senior Management

Topics:

1. BSA Board of Director Talks – Overview

This program is an overview of the components of BSA.  Starting with risk assessments, the pillars, the core of the program.  Your Board will come to understand how extensive nature of BSA and OFAC programs.

 

2. BSA Board of Director Talks – Risk Assessments

During the risk assessment Talk, the Board will learn how we analyze risks for financial crimes.  The fluid nature of risk assessments and how we change our risk assessments as the financial institution grows, changes technology and geography.

 

3. BSA Board of Director Talks – Four Pillars 

Our BSA programs include four pillars of the program:  Audit, Internal Controls, BSA Officer and Training.  These foundational parts of our BSA and OFAC programs set up by the risk assessment then flow to the rest of the BSA and OFAC compliance program.

 

4. BSA Board of Director Talks – Customer Identification Program (CIP)

Effective 10-1-2003, the Customer Identification Program is a foundational piece of any Know Your Customer Program.  It is a one-time on the way in identification and verification of our account holders.  Your Board will learn about identification and verification of account holders.

 

5. BSA Board of Director Talks – Customer Due Diligence (CDD Often called the Fifth Pillar)

Customer Due Diligence is a program which includes beneficial ownership verification.  We ask purpose, source and transactional questions to understand how our account holder plans to use the account.  Combined with CIP, CDD is a powerful tool to Know Your Customer.

 

6. BSA Board of Director Talks – Currency Transaction Reports (CTRs)

We file both CTRs and SARs in our reporting piece of BSA.  The CTR is the oldest piece of BSA work and tracts cash in and cash out over $10,000.   This information is gathered by tellers and submitted by the BSA Department takes a great deal of time for our front line staff and BSA Department.

 

7. BSA Board of Director Talks – Suspicious Activity Reports (SARs)

The backbone of BSA, the SAR starts with alerts and then into investigations, then to SAR.  It is often a complex and confidential process of identifying suspicious transactions for the financial institution.  Learn how this decision making process works and how the financial institution contributes to preventing financial crimes.

 

8. BSA Board of Director Talks – Recordkeeping  

Two huge pieces of recordkeeping—the monetary instruments and funds transfers.  It is an older part of the BSA program and serves as a deterrent to criminals who would prefer their identities to be kept secret.  During the Talk, our directors will learn how this works in our BSA program.

 

9. BSA Board of Director Talks – Preventing Human Crimes 

Our role in the financial institution is to prevent financial crimes.  This can encompass many human crimes like human trafficking, human smuggling, elder fraud and more.  Our anti-money laundering programs including technology are getting good at generating alerts for this type of activity.  Learn more about the financial institution’s role.

 

10. BSA Board of Director Talks – Red Flags for Money Laundering 

Red Flags for money laundering and many other crimes are issued by FinCEN (US Treasury) and followed by our financial institution to identify crime.  Learn some of the basic red flags that we look for and what they mean and what action our institution might take.

 

11. BSA Board of Director Talks – Marijuana and Hemp Related Businesses (MRB and HRB)

During this video the cannabis business and all its implications will be covered.  What is the risk of adding a MRB or HRB account holder to your institution’s portfolio.  What does the financial institution have to do or know?  Learn more.

 

12. BSA Board of Director Talks – Cybercrime 

The cyber crime problem is increasing and will continue to affect our account holders and our financial institutions.  What are our responsibilities?  What deterrents can we use?  How do we manage the high cost of cybercrime?  This and the compliance issues will be addressed during this video.

 

13. BSA Board of Director Talks – Cryptocurrency

Now that we have an executive order and an action plan to develop a centralized digital bank, what should we be doing and what will this stream of money look like down the road?  During this program we will look at management’s choices today in the journey to digital.

 

14. BSA Board of Director Talks – Information Sharing 

Two programs, the sharing with law enforcement (314a) and the sharing with other institutions (314b)  are both critical but different programs.  Learn how we manage the information highway and what the risk of noncompliance might be.

 

15. BSA Board of Director Talks – Professional Money Laundering Mules

During this video learn about how professional money mules operate.  This is not the person who perpetuates the crime, but the person who moves money for the criminal.  We will cover how these individuals and organizations operate and the impact they have on our financial institution.

 

16. BSA Board of Director Talks – Governance

Learn how BSA is governed from the government and how we have to govern BSA.  Governance is formatted differently at different institutions but still has to have a commitment from management, the Board and the staff to work properly.  Learn more about the process of running the BSA program.

 

17. BSA Board of Director Talks – Countering Proliferation Financing

Whether it’s a circuit for a component of a weapon of mass destruction or whether it’s a crime that supports weapons of mass destruction, these all come under proliferation financing and how we prevent it.  Learn more about financing of weapons of mass destruction and the role of financial institutions.

 

18. BSA Board of Director Talks – Countering the Financing of Terrorism

Terrorism financing is still a problem in the US.  Many funds are moved to charities that underwrite terrorism.  These funds move through wires, money service businesses and often are in small amounts and are difficult to detect.

 

19. BSA Board of Director Talks – Culture of Compliance

What does the US Treasury say about a “culture of compliance”?  Learn more about how we as financial institution’s management create that culture and continue to give BSA and OFAC the respect that the programs deserve.

 

20. BSA Board of Director Talks – Office of Foreign Assets Control (OFAC)   

While not a BSA program, it is a program in the BSA Exam Manual.  It is often examined at the same time as BSA but OFAC has higher fines and penalties.  The OFAC program comes out of the US Treasury and comes from executive orders issued by the President over various administrations.  We as a financial institution do not do business with those on the OFAC lists.  Learn more about our role with OFAC sanctions.