| A Virtual Event

BSA School

The in-person option is canceled. Virtual dates have changed.

Register for Virtual Now View Agenda

Tuesday, July 20

Sessions start at 11:00 a.m. ET and end at 5:00 p.m. ET
  • 11:00 a.m. - 11:15 a.m.

    Join NAFCU President & CEO Dan Berger as he welcomes everyone to the conference!

  • Receive brief housekeeping notes plus an overview of how you can optimize your virtual conference experience

  • History and background of the BSA:

    - 9/11 and the USA PATRIOT Act
    - What part government agencies play concerning the BSA
    - Understanding money laundering and terrorist financing
    - Why BSA matters for financial institutions of all sizes"

  • Learn what 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

  • Identify 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

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

  • - 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

  • Kaley Schafer, NCCO, NCBSO, Regulatory Affairs Counsel, provides a quick wrap-up of the day's sessions and discusses strategies you need to know to take the next NCBSO exam.

Wednesday, July 21

Sessions start at 11:00 a.m. ET and end at 5:00 p.m. ET
  • - 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"

  • - 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

  • - Reporting large currency transactions
    - Identity verification requirement
    - Aggregating currency transactions
    - Structured transactions
    – CTR requirements
    - Filing CTRs and record retention
    - Shared branches
    - Back filing

  • - B34 Phase I CTR exemptions
    - Phase II CTR exemptions
    - Annual review
    - Operating rules
    - Safe harbor for failing to file
    - Effect on other SAR filings or other regulatory requirements

  • Kaley Schafer, NCCO, NCBSO, Regulatory Affairs Counsel, provides a quick wrap-up of the day's sessions and discusses strategies you need to know to take the next NCBSO exam.

Thursday, July 22

Sessions start at 11:00 a.m. ET and end at 5:00 p.m. ET
  • - 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 

  • - 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

  • - 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 transfers recordkeeping
    - Originator financial institution responsibilities
    - Beneficiary financial institution responsibilities
    - Money laundering risks for funds transfer activities
    - BSA record retention requirements

  • Bonus Session: 2021 Regulatory Update

    Content will not be included on exam

    BSA related regulatory updates and expected changes
    - NDAA/Corporate Transparency Act

  • NAFCU Certified Bank Secrecy Exam

    Optional; exam not included in 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).