David Baris Speaks on BuckleySandler FinCrimes/AABD Webinar, “What Bank Boards of Directors Need to Know to Oversee BSA/AML Compliance”

David Baris will speak on the BuckleySandler FinCrimes/AABD Webinar, “What Bank Boards of Directors Need to Know to Oversee BSA/AML Compliance,” on Thursday, April 21, 2016.

BSA/AML issues have grown more important for banks of all sizes as state and federal regulators have increased their enforcement activity surrounding compliance failures. Regulators have increasingly focused their attention on the role of boards of directors in overseeing the BSA/AML compliance programs and the culture of compliance at their institutions.

Bank directors are facing numerous regulatory and strategic challenges, not just those from BSA/AML compliance, and can be easily overwhelmed with the minutia involved in complying with BSA/AML requirements and expectations. The American Association of Bank Directors’ (AABD) Bank Director Regulatory Burden Report chronicles more than 800 provisions in statute, regulation, and regulatory guidance that place responsibilities on bank directors. Bank boards are required to approve more than fifty written policies every year.

Separating the important from the unimportant is essential for board members to be effective. The purpose of this webinar is to provide board members and CEOs the tools they need to effectively supervise BSA/AML compliance efforts and also leave time to meet their other obligations.

This webinar will address the following questions:

  • As a bank director, what do you need to know to effectively oversee your bank’s BSA/AML compliance, and how can your management team help you?
  • What program elements should you be reviewing and what should be delegated?
  • What MIS reporting should you receive in your oversight role?
  • What corporate governance structure will your board need to effectively supervise your bank’s BSA/AML compliance?
  • What laws and regulations specifically place responsibilities on you and your board?
  • What are NOT your responsibilities as bank directors in BSA/AML compliance?
  • How can you help avoid an administrative action against your bank?
    • What do you do when the first hint of a potential action arises?
  • What are the lessons to be learned from civil money penalties issues by FinCEN and the public enforcement actions taken by prudential regulators against other banks?

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