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Event Name:Understanding the BSA/AML Examination Manual
Date:Thursday, October 18, 2018 11:00am CDT
Presented By:BankersHub
Panelist(s) Info: Dennis Lormel  (Bio)

Dennis M. Lormel is a recognized subject matter expert in the anti-money laundering, terrorist financing, and fraud communities. Mr. Lormel is an accomplished speaker and is routinely engaged to provide training at industry conferences. In addition, he frequently participates in media interviews that reach both the U.S. and international markets. This exposure and his vast experience in the law enforcement and consulting fields have afforded him the opportunity to develop a unique and diverse network of colleagues and clients.

After the tragedy of 9/11, Mr. Lormel realized that the terrorists needed a financial infrastructure to accomplish the attacks. He immediately established an investigative organization within the FBI that, within days, identified the funding stream that supported these attacks. This is but one example of his expertise in assessing and establishing viable and effective recommendations that produce results.

Credits:1.2 AAP, 1.0 CPE Credits

With ever increasing regulatory expectations that challenge financial institutions to maintain robust BSA/AML compliance programs, it is incumbent that financial institutions understand what the regulatory landscape and expectations they face are. There have been a number of significant enforcement actions regarding significant deficiencies in BSA/AML compliance programs involving financial institutions. The best source available for financial institutions to assess their BSA/AML compliance program and to measure the program to regulatory expectations is the FFIEC BSA/AML Examination Manual. The Manual provides a roadmap to regulatory expectations, examination planning and best practices for BSA/AML compliance programs.

The current version of the FFIEC BSA/AML Examination Manual provides guidance, which is still current, regarding risk-based policies, procedures and processes for banking organizations to comply with the BSA and safeguard operations from money laundering and terrorist financing. The Manual is intended to clarify supervisory expectations and regulatory changes since the last updated manual in 2010.

This BSA webinar will cover supervisory expectations and regulatory changes set forth in the Manual. The webinar will discuss each section of the FFIEC BSA/AML Examination Manual to serve as a reminder of areas where financial institutions should review their internal policies, processes and procedures for compliance. By reviewing the Manual and going through each section, this session will focus on the guidance provided to Examiners in structuring their BSA/AML examination scope and procedures to the specific risk profile of the banking organization they are reviewing.

The FFIEC Manual Consists of the following sections, which will be reviewed in this banking webinar:

  • Introduction
  • Core Examination Overview and Procedures for Assessing the BSA/AML Compliance Program
  • Core Examination Overview and Procedures for Regulatory Requirements and Related Topics
  • Expanded Examination Overview and Procedures for Consolidated and Other Types of BSA/AML Compliance Program Structures
  • Expanded Examination Overview and Procedures for Products and Services
  • Expanded Examination Overview and procedures for Persons and Entities
  • Appendices