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Correspondent Banking AML Certificate - Private
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Correspondent Banking Certificate

 Export to Your Calendar 5/17/2017
When: 8:00 am - 5:00 pm
Where: Map this event »
Wells Fargo
221 N. Kansas STE. 101
El Paso, Texas  79901
United States
Presenter: Maria Jose Fox
Contact: FIBA Training
(305) 579-0086


Online registration is available until: 5/17/2017
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Overview

The risks posed by correspondent banking are of concern to regulators, bankers, and broker-dealers in securities alike. U.S. financial institutions have faced severe penalties as a result of their foreign correspondent banks having weak BSA/AML compliance programs. The various sections of the USA PATRIOT Act and implementing regulations in the Bank Secrecy Act have been in final form of a number of years now. This course will discuss not so much the regulations but rather the practical applications of the regulatory requirements, with a particular emphasis on nested accounts. This course is designed for both U.S. financial institutions offering correspondent banking as well as for foreign financial institutions which have or are seeking U.S. correspondent banking relationships. U.S. financial institutions will acquire practical knowledge to apply to their correspondent compliance programs. Foreign financial institution will have a much better understanding and appreciation for the requirements of the correspondent bank and be better able to demonstrate its compliance program and contract requirements.

 

Eligibility/Preparation


Prior to beginning the course participants should complete the pre-course reading list. Anticipated reading time: 5-7 hours.

 

Who Should Attend

 

AML/CFT Compliance Personnel 
Audit Personnel
Regulators/Supervisors Of Financial Institutions
Marketing Professionals
Business Managers

Consultants

 

Format

 

1 Day In-Person Training

 

Content

 

Chapter 1: History and Regulatory Expectations 

 

Chapter 2: Correspondent Banking Overview

Banking Sector 

Non-Banking Financial Institutions

•Money Transmitters and MSBs

 

Chapter 3: Risk Rating Methodology

 

Chapter 4: Due Diligence Programs

 

Chapter 5:Transaction Monitoring

Case Studies 

 

Chapter 7: Contract Considerations