Skip to Main Content

 CrossState 2020 BSA Training for Volunteers

Credit union volunteers are required to complete annual Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) training. CrossState Credit Union Association offers BSA training certificates of attendance to volunteers for participation in this recorded event.

BSA compliance, like all compliance efforts, necessarily requires focus, proper resources, and dedication by the institution. This begins and ends with the Board of Directors, and requires other credit union volunteers to support the Board's efforts in this area. Directors and management have specific BSA responsibilities under the law. Without a general understanding of the BSA, the credit union and its volunteers cannot adequately provide oversight; approve policies, procedures and processes; or provide sufficient resources.

Topics and Objectives  
The NCUA has stated that Bank Secrecy Act (BSA) compliance is one of its top priorities and key focus areas in exams. In fact, BSA is one of three areas that must be included in every examination.

Frequently cited violations in BSA exams are:

  • Lack of independent testing of a credit union’s BSA program;
  • Inadequate or inappropriate training for staff and volunteers;
  • Lack of knowledge regarding, or failure to, complete Currency Transaction Reports (CTRs);
  • Suspicious Activity Reports (SARs); and
  • Failure to identify suspicious activity.

This recorded training session will focus on:

  • Money Laundering, BSA, USA PATRIOT Act, and OFAC
  • BSA Program Elements
  • Consequences of Noncompliance
  • Risk and Duties to Institutions
  • Internal Procedures and Controls
  • Role of the BSA/AML Officer
  • Independent Testing
  • Required Training
  • Currency Transaction Reporting
  • Suspicious Activity Reporting
  • Record keeping
  • Customer Identification Program
  • Section 314(a) List Checking

Each registered participant for this training will receive a certificate of attendance that satisfies regulator requirements.

Who Should Attend?
Anyone who serves as a volunteer for the credit union, i.e.; board directors, supervisory, loan committee members, or asset liability committee members

Value to be Gained 
While the board of directors may not require the same degree of training as credit union staff, they do need to understand the importance of bank secrecy act and anti-money laundering regulatory requirements, the ramifications of noncompliance, and the risks posed to the credit union. This training will fulfill volunteers' need to have, at minimum, a general understanding of BSA to fulfill their fiduciary duties to the credit union and regulatory obligations.

Program Type: Recorded Webinar

Program Length: 60 minutes

ARCHIVED WEBINAR PURCHASE: You are registering for an archived audio/visual presentation. Simply select the registration type and complete all required information for yourself or each attendee to receive access to the recorded training and documents. You, or the training organizer, will receive a confirmation email that your registration has successfully been submitted. Each registered training participant will receive a certificate of attendance (please allow 2 weeks for your certificate to arrive).



Outlook Outlook
iCal iCal
Google Google
Yahoo! Yahoo!