BSA for Frontline Staff & Officers

NCUA and state examiners are committed to enforcing the Bank Secrecy Act (BSA), so complying with the regulation should be a top priority for every credit union. Get the information you need to ensure your training requirements have been met before your examiner walks in the door. Attendees will take a close look at the requirements of BSA and the Customer Identification Program (CIP); receive an overview of the Office of Foreign Assets Control (OFAC) and the PATRIOT Act; review policy requirements and examples of noncompliance; identify the penalties that regulators could potentially impose on your credit union; review CTR and SAR filing requirements and much more. 

Learning Objectives

Participants will: 

• Learn how the five pillars of BSA need to be implemented with appropriate policies and procedures to effectively manage compliance
• Learn the importance of identifying, understanding and mitigating money laundering risks
• Learn about the latest updates to CDD rules and beneficial owners
• Learn about monitoring to complete Currency Transaction Reports and Suspicious Activity Reports
• Learn how the roles of FinCEN, FAC and the USA Patriot Act impact your credit union
• Learn the importance of customer due diligence
• Review and discuss money laundering techniques
• Learn penalties and enforcement actions for non-compliance

Who should attend: This session is mandatory for frontline staff who deal directly with credit union members and their transactions. This includes, but is not limited to: tellers, branch managers, loan officers, member service representatives, IT and marketing staff.

CPE Credits

In order to be awarded the full credit hours, you must be present, registering your attendance on the attendance sheets at the registration desk.

Participants will earn 6.0 CPE credits

Field of Study: Specialized Knowledge.

For additional CPE information, please click here.