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Managing Your Money Service Businesses: Risk, Compliance, and Set-Up

Does your financial institution have NBFI’s and/or MSB’s as account holders? Is it a challenge to identify those account holders, assess the potential risks they pose to your institution, and monitor those accounts on an ongoing basis?

Upcoming
Tuesday, November 12th, 2024
10:00 am - 12:00 pm
Presented by Deborah Crawford
$299.00 or 1 Token

Includes: Live Access, 30 Days OnDemand Playback, Presenter Materials and Handouts

  • BSA
  • Compliance
  • Deposit Accounts
  • Deposit Compliance
  • General Compliance
  • Transaction Compliance
  • Bank Secrecy Act Officer/BSA Specialist
  • Compliance Officer
  • Deposit Operations Manager/Specialist

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Designing and implementing an effective BSA/AML compliance program that incorporates an effective means of identifying and monitoring these accounts can be difficult. This session will show you how.

What You'll Learn

  • FFIEC definitions of NBFI’s and MSB’s
  • Identifying NBFI and MSB accounts
  • Reasons why these types of businesses could pose additional risks
  • De-risking and why your institution should not engage in this practice
  • Minimum and enhanced customer due diligence for MSBs
  • Utilizing a risk-based scoring system to classify business accounts
  • Monitoring NBFI and MSB accounts on an ongoing basis
  • Real-life challenges faced by BSA Compliance officers

Who Should Attend

This webinar will benefit BSA officers and staff, deposit compliance and staff, deposit operations, compliance officers and staff, and anyone who assists in the management of BSA.

Deborah Crawford

Instructor Bio

Deborah Crawford is the President of Gettechnical Inc., a Florida based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit Regulations and opening account procedures. She was formerly with Hibernia National Bank (now Capital One) and has bachelor's and master's degrees from Louisiana State University. She has 35+ years of combined teaching and banking experience.

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