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

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Aug 28, 2019, 19:45 ET

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.

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

Determining completeness of the risk assessments
Determining the thoroughness of risk assessments
Determining if current risk assessment matrixes are appropriate for your organization

To discuss how to establish risk assessments for your organization, specifically:

BSA risk assessments
AML risk assessments
OFAC risk assessments

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

Agenda:

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

BSA/AML
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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