BSA Seminar

Start your day with hot breakfast, and the opportunity to build stronger connections with your peers from credit unions across the country.

You'll focus on a detailed breakdown of the CTR and SAR forms, and when to file continuing SARs. You'll also come away well-versed in, and gaining insights on, meeting exam expectations. And: are your reports structured in a way that allows regulators to easily assess them?\

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Every credit union is required to establish a system to identify suspicious behavior, investigate the underlying facts and initiate a Suspicious Activity Report (SAR) in certain circumstances. Properly reporting cash transactions above certain thresholds including proper aggregation of transactions and understanding exemptions is key. If one step of the prescribed plan fails, the entire process is compromised and your credit union will be at risk for potential BSA violations. Learn effective methods to ensure your credit union is fully compliant with well written SAR narratives and accurate CTRs.

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Transaction monitoring and reporting is key to BSA compliance. What methods is your CU using for transaction monitoring? Are your procedures set up in accordance with the risk rating of accounts or to track possible structuring? How do you manage investigations resulting from alerts? Is your CU under or overreporting?

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Learn the Office of Foreign Assets Control (OFAC) laws, penalties, and exam expectations. Review OFAC's recent enforcement actions against noncompliant entities. You'll also cover additional considerations for developing a sanctions compliance program.

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Energize for the second half of the day and build stronger connections with your peers from credit unions across the country.

Receive an overview of both general and BSA-specific risk considerations associated with the selection, engagement, and oversight of vendors by a credit union, along with some perspective on the current regulatory expectations. We'll also identify vulnerabilities, and methods you can deploy to mitigate risk.

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FinCEN has identified having a culture of compliance as key for financial institutions. This includes engaged leadership and ensuring compliance is not compromised by revenue interests. How can you establish a culture of compliance at your credit union and have a seat at the table?

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This session will discuss tips for navigating exam challenges and tackling findings. BSA continues to be an issue for credit unions during the exam process as it continues to be a supervisory priority. Learn how to effectively communicate with the examiners to achieve fair exam outcomes and to develop a plan to track and resolve any examination findings.

Join your peers for an early evening reception featuring cocktails and heavy hors-d'oeuvres at Lakes & Legends Brewing Company. The venue is an easy two-minute walk from the hotel!

Start your day with hot breakfast, and the opportunity to build stronger connections with your peers from credit unions across the country.

Members and their accounts can bring very different risks to your credit union. How do you deal with account activity that does not align with risk rating or your risk appetite? Determine the key indicators you need to watch for and what can you do to establish a baseline of normalcy for these accounts. Requirements for MSBs, ATMs, cash-heavy businesses and high-intensity drug trafficking areas will also be reviewed.

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Join us for an in-depth review of specific issues for business accounts in the areas of CIP requirements, the CDD rule and beneficial ownership, documentation for verification purposes and ongoing monitoring.

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FinCEN’s 314(a) process enables an investigator to canvas the nation’s financial institutions for potential lead information that might otherwise never be uncovered. This cooperative partnership between the financial community and law enforcement allows disparate bits of information to be identified, centralized and rapidly evaluated. Hear best practices to deal with information requests to advance investigations. 

Energize for the second half of the day and build stronger connections with your peers from credit unions across the country.

Elder financial exploitation poses a serious threat to your older members. Perpetrators range from close family members to offshore scammers. Frauds and scams are always changing. But credit unions are well-positioned to spot signs of elder financial abuse and to respond when they see it - and may even be obligated to report in some states. This session will provide an overview of these resources and discuss core elements for training credit union staff.

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BSA/AML training is required during orientation for all new staff. The FFIEC also expects that a BSA training program will be tailored to employees' specific responsibilities. Gain insight into what training might be appropriate for volunteers, upper management, operational staff, and member-facing staff.

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Get an update from FinCEN on trends in BSA reporting. How is SAR and CTR data being used currently? What are the agency's enforcement priorities?

Start your day with hot breakfast, and the opportunity to build stronger connections with your peers from credit unions across the country.

Go behind the scenes at the FBI and hear first-hand case studies from law enforcement professionals on the front lines. Gain insights on how sophisticated criminals get away with money laundering schemes, including how bad actors succeed and how they get caught.

Hear our panel team discuss the practical application of BSA for program development and ongoing monitoring. Gather information on concerns for cannabis, hemp, and CBD and gain insights on the challenges. You'll also learn the legal and policy landscape of marijuana banking.

Examine cybersecurity risks to credit unions, and the guidance and language needed to craft your cyber event SARs. Gain knowledge on how to keep your CU compliant and protected from cyberfraud.

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Energize for the second half of the day and build stronger connections with your peers from credit unions across the country.

A panel of law enforcement leaders will discuss typical investigation methods by law enforcement and how they reach out to credit unions to provide guidance on compliance. They'll also address privacy concerns when reporting suspicious activity to law enforcement.

Show you're prepared to deal with the unique threats facing credit unions. Pass the exam to earn your NCBSO designation! The exam contains 50 multiple choice questions derived directly from the conference sessions. A passing grade is 76% correct (38/50).