What You'll Learn
The webinar reviews the fundamental requirements of the Bank Secrecy Act (BSA) and its role in safeguarding the financial system against money laundering and illicit activity. It emphasizes the importance of independent, risk-based audits and the use of resources like the FFIEC manual to strengthen compliance programs. The session also highlights common deficiencies in BSA audits and offered best practices for planning, documentation, and fostering a strong culture of compliance.
Learning Objectives
After attending this presentation, attendees will be able to:
- Understand the core reporting requirements of the BSA, including CTRs, SARs, and related compliance obligations.
- Identify best practices for conducting risk-based, independent BSA audits and addressing common deficiencies.
- Recognize the role of leadership and documentation in building a strong compliance culture and ensuring effective audit outcomes.
*This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
About the Author:
Sharon Blanchette is a risk, compliance, and anti-financial crimes (AFC) subject matter expert who has enjoyed a long career working with banks, credit unions, fintechs, mortgage companies/servicers, and the vendors who support them.
Sharon's specialties include building and enhancing compliance and AFC programs, assisting institutions during mergers and acquisitions, serving as a temporary outsourced compliance or AFC officer, managing lookbacks, and breaking down complex regulations and requirements into effective training materials.
Sharon is a Certified Public Accountant, a Certified Internal Auditor, a Certified Anti-Money Laundering Specialist, and holds the Consumer Regulatory Compliance Manager certification. In early 2021 she obtained a crypto currency certification and a cannabis risk management certification. She serves on the Board of the Virginia Chapter of ACAMS. She enjoys publishing articles and speaking on industry topics.
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