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Two Day BSA/AML/OFAC Risk Assessments Seminar: Review and Evaluate Policies and Procedures for Risk Assessments - Chicago, IL, United States - September 12-13, 2019

DUBLIN, Aug. 28, 2019 /PRNewswire/ -- The "BSA/AML/OFAC Risk Assessments - Are You Doing Them Correctly" conference has been added to ResearchAndMarkets.com's offering.

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Although financial institutions have been managing BSA operations as per the regulatory requirements, the change in focus to appropriate BSA/AML/OFAC risk assessment has become increasingly important. Regulators look to the organization for insurance and evidence that BSA operations are appropriately performing risk assessments. Appropriate risk assessments are essential in an organization's strategic planning and development, as well as ensuring compliance with laws and regulations.

This Bank Secrecy Act risk assessment seminar will highlight BSA best practices that are being acknowledged and recognized by regulators and examiners and will discuss each risk assessment area. Attendees will learn how to conduct a comprehensive review of their current organization's BSA/AML/OFAC risk assessment.
Learning Objectives:

Key goals of this BSA risk assessment course are:

  • To review and evaluate policies and procedures for risk assessments
  • To help identify your organization's risks
  • To determine your organization's risk threshold based on the organization's strategic plans and business models
  • To discuss how to conduct a comprehensive review of your organization's BSA/AML/OFAC risk assessment, including
  • To discuss how to establish risk assessments for your organization, specifically:
  • To illustrate how to perform the risk assessments
  • To highlight the need for periodically reviewing risk assessments to determine if they are still relevant, appropriate, and adequate
  • To discuss implementing a BSA/AML/OFAC risk assessment program at your organization

Who Should Attend:

  • BSA / AML Officers
  • Internal Auditors
  • Staff with Roles and Responsibilities in BSA/AML Management and Oversight
  • Money Service Business BSA/AML Officers
  • Corporate Auditors
  • Risk Managers
  • Legal Department Personnel
  • Regulators
  • Compliance Officers


Day 1

8:30 - 9:00 AM: Registration

9:00 AM: Session Start Time

Welcome and Introductions (30 Minutes)

Understanding the Basics (1 Hour)

  • Risk Assessment 101
  • What is a risk?
  • Risk and your business objectives
  • Types of risks
  • Consequences of failing to recognize risks
  • Lack of risk monitoring implications

Establishing the Importance of Proper Risk Assessing (1 Hour)

  • Board of Directors and Senior Management Involvement
  • Implementing a risk assessment which best reflects the organization's goals and objectives
  • Examples of involvement
  • Roles and responsibilities
  • Reviewing and Determining Risks
  • Who is responsible for determining risks?
  • How do you know that your risk rating is appropriate?
  • Establish Appropriate Risk Ratings
  • Types of risk ratings
  • Who reviews and approves risk ratings?
  • Example: risk rating determination spreadsheet
  • When Risk Ratings Don't Make Sense
  • Changing risk ratings
  • Ensuring reasons are documented to support risk ratings

Establishing Risk Matrixes (5 Hours)

  • BSA Risk Assessments
  • Definition
  • Examples
  • AML Risk Assessments
  • Definition
  • Examples
  • OFAC Risk Assessments
  • Definition
  • Examples

Day 2

Compliance Consideration

  • The Office of Foreign Assets Controls (OFAC)
  • Massive Fines for Non-compliance
  • Examples of How Incorrect Risk Ratings Affect an Organization

Continuous Monitoring

  • What is Considered Continuous Risk Assessment Monitoring
  • The Pros and Cons
  • Making Changes
  • Establishing a Review Schedule

The Risk Assessment Toolkit

  • Example Policies
  • Example Risk Assessment Matrixes
  • References and Links

For more information about this conference visit https://www.researchandmarkets.com/r/rab1mt

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