| Salt Lake City, Utah

BSA School

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Sunday, July 26

  • 4:00 p.m. – 6:00 p.m.
    Early Registration

Monday, July 27

Sessions start at 8:30 a.m. and end at 4:00 p.m.
  • 7:30 a.m. - 3:45 p.m.
    Registration and Information Desk Open
  • 7:30 a.m. – 8:30 a.m.

    Start your day with hot breakfast, and the opportunity to build stronger connections with your peers from credit unions across the country. We’ll also play "get to know you" BINGO—it’s a fun way to meet others and form study groups!

  • 8:30 a.m. - 8:50 a.m.
    Conference Welcome
  • 8:50 a.m. - 9:30 a.m.

    ● History and background of the BSA
    ● 9/11 and the USA PATRIOT Act
    ● What part do government agencies play concerning the BSA
    ● Understanding money laundering and terrorist financing

  • 9:30 a.m. - 10:00 a.m.

    Identification of Specific Risk Categories:
           ● Products and services
           ● Member/customers and entities
           ● Geographic locations
           ● Analysis of specific risk categories
           ● Developing the BSA/AML compliance program based upon the risk assessment
           ● Updating the risk assessment

  • 10:15 a.m. - 11:15 a.m.

    An effective BSA/AML compliance program includes:
           ● Written policies and procedures        
           ● A designated BSA officer        
           ● Independent testing        
           ● Adequate employee training        
           ● Risk-based, customer due diligence

  • 11:15 a.m. - 12:00 p.m.

     ● Authority and responsibilities
     ● Relationship to board and senior management 
     ● Training of staff (inclusion of BSA on all staff position descriptions)

  • 12:00 p.m. - 1:00 p.m.

    Energize for the second half of the day and build stronger connections with your peers from credit unions across the country.

  • 1:00 p.m. - 1:45 p.m.

    ● What is an account
    ● What information must be obtained when opening an account
    ● Verifying a member’s identity
    ● Recordkeeping and retention requirements
    ● Adequate notice

  • 1:45 p.m. - 2:30 p.m.

    ● Establishment of risk-based policies, procedures, and processes in relation to a credit union’s BSA/AML risk profile
    ● Understanding the nature and purpose of the member relationship in order to develop a risk profile
    ● Obtaining member information to substantiate the nature and purpose of the account
    ● Use of risk-basis procedures to maintain and update customer information
    ● Conduct ongoing monitoring
    ● Higher risk profile members and enhanced due diligence
     

  • 2:45 p.m. - 3:45 p.m.

    ● Beneficial Ownership rule requirements
    ● What is a legal entity
    ● What is a beneficial owner
    ● Identification and verification of beneficial owners
    ● Recordkeeping and retention requirements
    ● Reliance on another financial institution

  • 5:00 p.m. – 6:30 p.m.

    Join your peers for an early evening reception featuring cocktails and heavy hors-d'oeuvres at a local hot spot.

Tuesday, July 28

Sessions start at 8:30 a.m. and end at 4:00 p.m.
  • 7:30 a.m. - 4:30 p.m.
    Registration and Information Desk Open
  • 7:30 a.m. – 8:30 a.m.

    Start your day with hot breakfast, and the opportunity to build stronger connections with your peers from credit unions across the country.

  • 8:30 a.m. - 8:35 a.m.
    Welcome Day 2
  • 8:35 a.m. - 9:20 a.m.

    ● Monitoring, detecting and reporting suspicious activities
    ● Regulatory requirements to file a SAR
    ● Safe harbor from civil liability
    ● Systems to identify, research and report suspicious activity
    ● Identifying unusual or suspicious activity
    ● Managing alerts
    ● SAR decision making
     

  • 9:20 a.m. - 10:15 a.m.

    ● Completing and filing SARs
            - How to fill out the report
            - Meeting the filing and refiling deadlines
            - Ongoing monitoring

  • 10:30a.m. - 11:00 a.m.

    ● Reporting large currency transactions
    ● Aggregating currency transactions
    ● Filing CTRs and record retention
    ● Shared branches
    ● Back filing

  • 11:00 a.m. - 11:30 p.m.

    ● Phase I CTR exemptions
    ● Phase II CTR exemptions
    ● Safe harbor for failing to file
    ● Effect on other SAR filings or other regulatory requirements

  • 11:30 p.m. - 12:00 p.m.

    ● Section 314 of the USA PATRIOT Act information requests
    ● Information sharing between law enforcement and financial institutions – (section 314(a) of 31 CFR 1010.520)
    ● Voluntary information sharing – (section 314(b) of 31 CFR 1010.540)
    ● SAR supporting information

  • Energize for the second half of the day and build stronger connections with your peers from credit unions across the country.

  • 1:00 p.m. - 2:00 p.m.

    ● What is OFAC – history, and background
    ● Blocked and prohibited transactions
    ● OFAC licenses
    ● Reporting
    ● Compliance program
            - A Framework for OFAC Compliance Commitments
    ● Internal controls
    ● Independent testing
    ● Designated responsible individual
    ● Training

  • 2:15 p.m. - 3:00 p.m.

    ● Purchase and sale of monetary instruments recordkeeping
           - Recording of information required for the purchase and sale of monetary instruments for currency in amounts between $3,000 and $10,000
    ● Funds transfer recordkeeping
           - Originator financial institution responsibilities
           - Beneficiary financial institution responsibilities
           - Money laundering risks for funds transfer activities BSA record retention requirements
    ● BSA record retention requirements

  • 3:00 p.m. - 3:30 p.m.

    ● Money service businesses (MSBs)
    ● Marijuana-related businesses (MRBs)

  • 3:30 p.m. – 4:30 p.m.
    Study Hall

    Optional

Wednesday, July 29

Sessions start at 8:30 a.m. and end at noon
  • 7:30 a.m. - 3:00 p.m.
    Registration and Information Desk Open
  • 7:30 a.m. – 8:30 a.m.

    Start your day with hot breakfast, and the opportunity to build stronger connections with your peers from credit unions across the country.

  • 8:30 a.m. - 8:35 a.m.
    Welcome Day 3
  • 8:35 a.m. - 9:15 a.m.

    ● Current Focus/Initiatives
    ● Activities and Operations
    ● Contacting FinCEN

  • 9:15 a.m. -10:00 a.m.

    ● FFIEC Examination Manual
    ● Supervisory priority/focus
    ● Risk-focused BSA/AML examinations

  • 10:15 a.m. - 11:15 a.m.

    ● Culture of Compliance
    ● Penalties and fines
    ● Liability

  • 11:15 a.m. - 12:00 p.m.

    ● DC activity roundup

  • Energize for the exam and build stronger connections with your peers from credit unions across the country.

  • 1:00 p.m. – 2:00 p.m.
    Study Hall

    Optional

  • 2:00 p.m. – 3:00 p.m.
    NAFCU Certified Bank Secrecy Officer Exam

    Optional – certification exam not included in the conference registration fee

    Show you're prepared to deal with the unique threats facing credit unions. Pass the exam to earn your NCBSO designation! The exam contains 50 multiple choice questions derived directly from the conference sessions. A passing grade is 76% correct (38/50).