Your Responsibilities Regarding Foreign Correspondent Bank Accounts to Include De-Risking

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Live Webinar | CEU Approved

  • 60 minutes

Correspondent banking relationships have become a hot topic with BSA/AML over the past few years. The U.S. Treasury Department has placed more importance on the examination of correspondent banking relationships and has added more guidance related to the issues of “de-risking” (terminating/exiting current correspondent banking relationships). This training session will highlight why it is essential to know the risks related to correspondent banking relationships, the regulatory guidance issued for maintaining these relationships, and the concept that financial institutions can always make a business decision as they see fit.

Join this session by expert speaker Thomas E Nollner, where he will discuss the “de-risking” issue (a bank terminating a foreign correspondent relationship) and other current trends related to foreign correspondent banking.

Session Highlights:

This Webinar will improve your professional skills and knowledge as you gain a better understanding of:

  • Risks related to foreign correspondent banking

  • US regulations addressing foreign correspondent banking

  • Responsibilities of the correspondent and respondent bank

  • KYC, CDD/EDD, and the suspicious activity process

  • FFIEC recommended examination procedures

  • How nesting should be addressed by the respondent bank

  • The need for on-going communication between the correspondent and the respondent.

Why You Should Attend:

There are many risks related to acquiring, maintaining, and supervising correspondent banking relationships which employees and management of financial institution’s need to be aware of and actively manage. With the enhanced scrutiny by regulators of a financial institution’s compliance program regarding correspondent banking relationships and the trend for financial institutions to rethink their decisions to maintain these relationships, it is important that employees and management of financial institutions are aware of and fully understands correspondent banking regulations and guidance.

This course will discuss the many issues related to KYC, CDD, risk rating, and the suspicious activity process as these relate to maintaining foreign correspondent relationships.

Who Should Attend:

  • Front line BSA/AML staff

  • Account opening staff

  • Risk managers

  • BSA/AML Officers

  • Compliance Officers

  • BSA/AML Audit staff

Industries who will benefit

  • Banks

  • Money Service Businesses

  • Broker/Dealers

  • Auditors BSA/AML Consultants

Advanced Preparation: None

Program Level: Intermediate

Prerequisites: Basic knowledge of BSA/AML

Field of Study: Finance

*You may ask your Question directly to our expert during the Q&A session. ** You can buy On-Demand and view it as per your convenience.

Thomas E Nollner

Thomas E Nollner

Thomas E Nollner has more than 38 years of experience in financial institution supervision and consulting. Mr. Nollner spent 30 years as a National Bank Examiner (NBE) for the Comptroller of the Currency where he was a safety and soundness examiner and a compliance examiner. The last 15 years as an NBE and for the past 8 years as a consultant, Mr. Nollner has specialized as an AML/CFT examiner/consultant. In these roles he has analyzed financial institutions’ AML/CFT programs to ensure that they complied with applicable AML/CFT laws, rules, and regulations; he reviewed the suspicious transactions identification, monitoring, and reporting processes; he traced proceeds and transactions through several layers of activity; and he provided AML/CFT training for many different financial institutions.

Mr. Nollner currently works as a consultant for the Office of Technical Assistance (OTA), a branch of the U.S. Treasury that assists developing countries with banking issues. Mr. Nollner is assigned to the Economic Crimes Team that focused on training, assisting, and mentoring the staffs of the financial regulatory departments and financial intelligence units of various countries regarding AML/CFT compliance. In this capacity, he worked in countries such as Afghanistan, Iraq, Turkmenistan, Viet Nam, Honduras, Guatemala, Guyana, Suriname, and Argentina developing AML/CFT examination procedures, providing AML/CFT training and mentoring, and updating local AML/CFT laws and regulations.

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For more information regarding administrative policies such as complaint and refund, please contact our offices at 844- 810-1151.

PLEASE NOTE: To receive credit through the NASBA for this program you MUST attend the Live program in its entirety and complete the required progress checks.

Number of CPE Credits Awarded for This Course: 1.0 (Finance - 1.0)

Delivery Method: Group Internet Based

Want to attend in a Group? Call 844-810-1151 and Save upto 50%

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