This webinar will go through the revised FFIEC Bank Secrecy Act/Anti-Money Laundering Examination Manual to highlight changes and areas where banks should review their internal policies, processes, and procedures for compliance. Understanding these changes will keep you prepared and updated for your next BSA/AML examination.
The FFIEC BSA/AML Examination Manual (Manual) provides instruction to examiners for assessing a bank’s anti-money laundering/countering the financing of terrorism (AML/CFT) program and its compliance with other AML/CFT regulatory requirements. New and revised Manual sections and Future updates to other Manual sections will be discussed.
The agencies that comprise the Federal Financial Institutions Examination Council (FFIEC) released an update of the FFIEC Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual. The revised manual provides current guidance on risk-based policies, procedures, and processes for banking organizations to comply with the BSA and safeguard operations from money laundering and terrorist financing.
This webinar will go section-by-section of the manual to highlight areas where banks should review their internal policies, processes and procedures to ensure they are in compliance and discuss changes to BSA requirements.
The FFIEC BSA/AML Examination Manual is a resource issued by the Federal Financial Institutions Examination Council (FFIEC) to assist examiners in evaluating the adequacy of a financial institution's BSA/AML compliance program. However, its value extends beyond examiners, as compliance officers play a pivotal role in implementing and maintaining effective BSA/AML programs. By understanding the nuances of the FFIEC BSA/AML Examination Manual, compliance officers can proactively enhance their institutions' compliance programs, mitigate risks, and contribute to the overall integrity of the financial system. This knowledge is indispensable for navigating the intricate web of BSA/AML regulations and safeguarding institutions against financial crimes.
Justin brings over 20 years of wide-arranging experience in compliance, training and regulations. Most recently, he served as Head of Compliance Training at Bank of China where he led the compliance training function and created and monitored the annual training plan through a thorough training needs analysis. Previously he served as Macquarie Group’s Head of Americas Compliance Training and JPMorgan Chase’s Compliance Training Manager.
Justin also worked for FINRA, a US regulator, where he created Examiner University to train examiners on how to perform their function. Some of his vast areas of expertise are : Compliance training programs, managing regulatory projects, lasing with regulators, and identifying gaps/opportunities for improvements in risk mitigation.