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FIBA AMLCA Certification - Online
FIBA AMLCA Certification - Online |
Events Calendar |
FIBA AML Institute: Responsibilites for General Managers & Outside Directors
Date: February 22, 2012
Time: 9:00 AM - 1:00 PM
Event Description
This is a 1/2 day AML course. This course focuses on the specific responsibilities and challenges faced by managers and the board of directors. We will also review practical solutions and guidance which managers and directors can use as "best practices,” and which can serve as benchmarks to evaluate the AML/BSA compliance programs at their institutions.
Outside directors face a special challenge in today’s regulatory environment. Directors may not have firsthand knowledge of their banks’ everyday operations because they are not employees. However, they are expected to be just as knowledgeable about the bank’s AML program, its effectiveness, and any potential problems as are management and the compliance department.
Regulatory issues are likely to occur if management does not fully understand its responsibilities. Lack of sufficient management support, or lack of management understanding of its critical role, can lead to serious problems for the financial institution.
Course Content Covers:
This is a 1/2 day AML course. This course focuses on the specific responsibilities and challenges faced by managers and the board of directors. We will also review practical solutions and guidance which managers and directors can use as "best practices,” and which can serve as benchmarks to evaluate the AML/BSA compliance programs at their institutions.
Outside directors face a special challenge in today’s regulatory environment. Directors may not have firsthand knowledge of their banks’ everyday operations because they are not employees. However, they are expected to be just as knowledgeable about the bank’s AML program, its effectiveness, and any potential problems as are management and the compliance department.
Regulatory issues are likely to occur if management does not fully understand its responsibilities. Lack of sufficient management support, or lack of management understanding of its critical role, can lead to serious problems for the financial institution.
Course Content Covers:
- Defining money laundering & terrorist financing
- Global AML/CTF framework
- AML/CTF roles and responsibilities of boards of directors
- AML/CTF roles and responsibilities of senior management
- AML/CTF risk management
- Pillars of an effective AML/CTF program
- Know Your Customer
- Overview of customer risk rating
- Transaction monitoring
- Record retention
- Role of supervisors
- Sanctions program overview
- Anti-corruption efforts
- Top 10 AML deficiencies
- Consequences of non-compliance
- Protecting your financial institution
