BSA & OFAC Compliance for Directors & Supervisory/Audit Committee

Live Webcast: Wednesday, October 10, 2012 • 2:00 p.m. - 3:30 p.m. EDT

On-Demand webcast expiration date:  October 10, 2013   

Open to all credit unions, regardless of membership or charter type!

A credit union’s Board of Directors is ultimately responsible for ensuring that the credit union maintains an effective Bank Secrecy Act (BSA)/AML internal control structure, including suspicious activity monitoring and reporting. As part of this responsibility, the Board of Directors and, if applicable, the committee designated by the Board to monitor BSA compliance, must receive training on an annual basis. This webcast will satisfy the training requirement and cover the responsibilities and duties of the Board.

There are many Board responsibilities in relation to BSA compliance. These responsibilities, including what items need to be reported to the Board and why, will be discussed as well as significant compliance changes that have taken place and upcoming compliance changes.

BSA requirements are effective for all financial institutions and compliance is mandatory. Failure to comply can have serious consequences for you and for your institution. BSA violations involve civil, criminal, and intangible penalties. Your institution and its employees are liable for criminal penalties of fines up to the greater of $1 million or twice the value of the transaction and imprisonment of 5 years to 10 years.

By attending this webcast, you will walk away with:

• The annual training requirements for your Board and Supervisory Committee
• An understanding of your responsibilities under BSA and how to ensure you are meeting your responsibilities
• An awareness of recent fines imposed on financial institutions for BSA compliance deficiencies and how to avoid these deficiencies in your credit union

Industry Leading Speaker:

John Misgen, CPA
Senior Compliance Consultant 
CliftonLarsonAllen LLP

John Misgen spends 100 percent of his time performing compliance testing and providing regulatory compliance assistance to financial institutions. Misgen understands the importance of complying with consumer regulatory protection laws and tracks compliance hot topics, regulatory changes, areas of examination concentration and examination findings. Misgen has a proven track record of working with new clients to establish comprehensive and effective consumer compliance programs.

Misgen has been with CliftonLarsonAllen for over six years and has provided regulatory compliance assistance, including BSA/AML/OFAC testing, to financial institutions ranging from less than $5 million in assets to more than $1 billion in assets. Misgen assists clients in all areas of regulatory compliance, including the most complicated areas of Regulation Z and RESPA, to assist clients in improving compliance performance.

Credit union staff that will benefit from this webcast include:

• CEO and Presidents
• Auditors
• Board Member/Chairs and Volunteers
• BSA officers
• Operations Staff
• Compliance/Legal/paralegal/Attorney and Risk Staff
• Education and Learning Staff
• Managers
• Member Service/call center/member relations/contact center/customer service staff
• Vice Presidents
• Security Staff

NAFCU's webcasts include live streaming video, audio of the presenters, presentation slides and downloadable handouts.  You can easily submit your questions to the presenters at any time and there is no dialing in over the phone!  The audio and video streams directly through your computer.

Registration Fees

On-demand webcasts are available for up to 12 months after the live broadcast and are included in the registration fee.

Broadcast live from NAFCU's Headquarters in Arlington, VA.