Auditing The Bank Secrecy Act
A financial institution’s Bank Secrecy Act (BSA) program continues to be under close scrutiny in today’s regulatory environment. An inadequate BSA program will almost certainly bring an administrative action – either formal or informal – against the financial institution. One particular area receiving criticism by examiners is the bank’s annual independent review of BSA.
Are your audit procedures up to date, comprehensive, and independent? Attend this seminar to review the adequacy of your BSA review program. This seminar will provide information on a comprehensive approach to completing a thorough BSA audit.
In addition to the manual, we will provide practical BSA review documents to assist the auditor in the completion of BSA reviews.
Unlike most training programs, Young & Associates’ manuals are written in full narrative. This enables the participants to focus their attention on the discussions instead of trying to
take detailed notes. It also enables the banker to take the manual back to the bank as reference material and as a training manual for other employees.
Overview of the BSA program requirements & required reporting and record keeping requirements.
Review procedures covering the following areas:
- BSA policies and procedures
- Inclusion of regulatory requirements
- Detailed procedure requirements
- Currency transaction reporting
- Accuracy of CTRs
- Assuring that all CTRs are filed
- The realities presented by the electronic CTR
- Suspicious Activity Reports
- What to look for
- The realities presented by the electronic SAR
- Monetary instrument log
- Content of log
- Suspicious activity monitoring of transactions
- Wire transfer activity
- BSA training program
- Customer Identification Program
- CIP policy and procedure content requirements
- Testing adherence to the bank’s CIP
- USA Patriot Act
- Section 314(a) FinCEN search policy & procedures
- Section 314(b) procedures
- Anti-money laundering program
- Procedures for monitoring & detecting suspicious activity
- Suspicious activity reporting
- Office of Foreign Assets Control requirements
- Procedures for checking persons against OFAC list
- Ongoing reviews of OFAC
Adam Witmer is a Senior Consultant with Young & Associates, Inc. where he focuses on regulatory compliance. Adam is a popular speaker who tries to make compliance fun by providing real life stories that apply to the topic at hand. He conducts seminars for state banking associations throughout the United States, provides in-bank training for clients, delivers keynote speeches, and puts on compliance webinars. He has held the titles of Compliance Officer, BSA Officer, and CRA Officer for multiple banks, and has experience in the areas of internal audit, deposit and loan operations, retail banking, and secondary market lending. He holds the designation of Certified Regulatory Compliance Manager (CRCM) by the Institute of Certified Bankers in Washington, D.C. Adam earned a BA in Business Administration from Taylor University and an MBA in Management and Human Resources from Indiana Tech.
8:30 a.m. Registration & Continental Breakfast
9:00 a.m. Program Begins
12:00 Noon Lunch (included)
1:00 p.m. Program Resumes
4:00 p.m. Program Adjourns
NOTE: This class will be held at the NEW IBA OFFICE!
This seminar will be held at the IBA Center for Professional Development, 8425 Woodfield Crossing, Suite 155E, Indianapolis, IN 46240. Directions, map & a list of local hotels are available at www.indianabankers.org or by calling 317-387-9380.
The following fees include the program, materials, lunch and refreshments:
$225 IBA Members
$155 Each Additional IBA Member
Participation in IBA programs is limited to members, associate members, and nonmembers from an eligible membership category at applicable member or non-member rates.
For more information please contact Elizabeth Kilty via e-mail at firstname.lastname@example.org or call 317-387-9380.
Within three or more business days prior to the day of an educational program, no cancellation charge will be assessed. Within two days prior, 50% of the fee is assessed. Refunds are not provided for cancellations 1 day prior or absences on the day of the program. Substitutions are welcome at any time.