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Speakers: Colleen Kelly & Valerie Moss
The American Council on Education's College Credit Recommendation Service has endorsed this curriculum.
CUNA BSA 101 and Compliance Specialist Certification Class curriculum encompasses crucial Bank Secrecy Act (BSA) content for students who need a comprehensive understanding of the BSA. This class is taught by experienced industry experts, Colleen Kelly, CUNA senior federal compliance counsel, and Valerie Moss CUNA, senior director of compliance analysis. It is designed for credit union professionals who need to learn the BSA, anyone interested in refreshing their foundational knowledge in this area, as well as, those earning the BSACS certification. This three-hour class is delivered virtually, 30 days prior to the conference, allowing students time to learn at their own pace.
In addition, students have the opportunity to get recognized as an expert in the BSA field with the CUNA Bank Secrecy Act Compliance Specialist (BSACS) designation. Earn the designation by:
Speakers: Colleen Kelly & Valerie Moss
Designed for students taking the CUNA Bank Secrecy Act Compliance Specialist (BSACS) Certification Exam, this session is led by industry experts, Colleen Kelly, CUNA senior federal compliance counsel, and Valerie Moss CUNA, senior director of compliance analysis. During this 45-minute session, the instructors will assist students in final exam preparation by leading them through a high-level review of key BSA content. This review session will NOT include review of all content pertaining to the exam. Students should sufficiently prepare for the exam prior to this review session by studying the content of the “BSA 101 and Compliance Specialist Certification Class” and the “CUNA BSA Compliance Guide”. There will be opportunity for questions during this session.
Passing the BSACS certification examination is one requirement of earning the BSACS designation. Students are allowed 1-hour to complete the examination. The closed-book exam is delivered online at the CUNA BSA/AML Certification Conference, contains 40 multiple-choice questions, and requires a passing score of 70%.
To prepare for the exam, students should:
Speaker: Chris Swecker
While it is not the role of AML specialists working within financial institutions to play cops and robbers they actually perform a critical role in the detection, investigation and ultimately the prosecution of sophisticated criminals and terrorists. Unfortunately, it's rare to receive any feedback from a SAR submission from law enforcement and intelligence agencies. Nevertheless, the SAR data base is one of the most effective tools in law enforcement. Chris Swecker, the former head of all criminal investigations for the FBI and Corporate Security Executive for Bank of America will discuss the enormous value of the BSA and AML programs to law enforcement and counterterrorism.
BSA is nothing if not interesting and while changes to BSA have seemingly eased in 2019, there remain some important areas of discussion. This current state creates a unique opportunity for not only learning from industry experts but also peer-to-peer learning. This session will be an open and informal discussion lead by industry experts, Colleen Kelly, CUNA sr director of federal compliance counsel and Valerie Moss, CUNA sr director of compliance analysis. Hear from Colleen and Val and join the conversation from your seat.
Speaker: Nicola Foggie
Cybercrimes are at an all-time high, with millions of Americans affected by data breaches, “phishing” attacks through emails, viruses, malware, identity theft, etc. The number of attacks, foreign and domestic, are growing each day. It's no wonder that cybersecurity for financial institutions, including credit unions, is top of mind. Recently, there was a nationwide effort by email “phishers” who targeted BSA Officers of credit unions, and other financial institutions. The cybercriminals were attempting to lure BSA officers into giving them network access using a classic contaminated email attachment scheme. Cybercriminals know that BSA Officers are the guardians to the gateway of safety and soundness for their credit unions. So, if your credit union is not keeping up with best practices for cybersafety, it will be vulnerable to an attack. This interactive session will examine the components of the nation-wide “phishing” attack on BSA Officers as well as other types of cybercrimes to bring awareness of how to protect yourself, your credit union, and its members, while sharing with you steps to reduce the risk of becoming a victim to these types of schemes.
This session will cover:
Speaker: David Reed
The ability to conduct a thorough and efficient investigation is at the heart of the skills required to be a Bank Secrecy Act officer. Unfortunately, many professionals mistake the number of questions or the length of the interviews with thoroughness and efficiency. This is most likely incorrect. Whether you are getting additional information from staff members or interviewing potential suspects, you need to be well prepared and expect the unexpected. This session will examine the components of a well planned and executed information gathering interview with an emphasis on utilizing standard conversation skills to put people at ease and gain greater due diligence traction.
Session description coming soon.
In an increasingly complex compliance world, and ever evolving means to obscure the criminal source of funds, more and more financial institutions are turning to machine learning to combat the threat. This session will explore the potential of machine learning and artificial intelligence in compliance and provide attendees a framework for understanding this complex and nuanced field.
Speakers: Tracy Blaske and Andy Vanderhoff
In today's intense compliance environment, compliance professionals need robust, flexible technology to make regulatory compliance management efficient, more effective, and better aligned across the credit unions' business units and strategies. This session will help BSA officers and compliance professionals understand how best-in-class technology will help in daily compliance efforts, and bring awareness to a new compliance resource available to your credit union.
Orientation to CUNA's alignment with Quantivate, the leader in GRC technology, to bring a compliance management system to your credit union
Speakers: Matt Bailey, Craig Money, TBA
How does theory translate into practice? In this session, BSA/AML compliance officers will share their views of the challenges and opportunities in the credit union BSA/AML space and discuss the important issues from a real-world perspective.
Speaker: Sue Landauer
What are the required elements of a BSA Risk Assessment? Regulatorily required, there are key elements that all basic risk assessments must have. We will start with a narrative risk assessment summary, and work our way through key areas, identifying the compensating controls most credit unions have in place. Hands on, your input is needed to complete the task at hand. And walk away with a solid risk assessment for your credit union.
Speaker: Warren Barnett
Whether it's the high-risk member at account opening or the everyday account that begins to change its pattern, understanding when to step up the due diligence on the account is essential. Equally important is knowing when a more intensely monitored account can be de-escalated to a reduced level of due diligence. Hear from your peer and practioner, Warren Barnett Vice President of Risk Management for Hudson Heritage FCU, as he shares This session will explore the concepts essential to managing an enhanced due diligence program based on your business model.
Much of the world of financial crimes investigations and BSA/AML compliance is driven from the expectations of the regulators. This dynamic and lively discussion will feature state and federal regulators sharing their insights into the current priorities and vulnerabilities in BSA/ML in 2019.
Speaker: Rayleen Pirnie
This session explores the sometimes seedy side of payments, and their intersection with BSA/AML. You're not alone if you're concerned about recent pushes for “faster payments” and how that translates into your CU's ability to monitor and stop prohibited transactions. If you think money laundering is only found in the illegal narcotics world, think again. There's a whole different environment of payment rules, regulations and guidance that place responsibility on the CU to monitor payments. Do you know why?
In this course attendees will examine:
We're going to hit a jackpot of various cases where payments and AML have recently collided (sometimes smoothly, sometimes not) and examine lessons learned to arm you with more information, particularly on what “not to do.”
The implications of the Supreme Court's decision in Murphy are still coming into focus as states move to legalize sports wagering. As financial institutions work to understand what BSA/AML considerations, this session will focus on the current status of sports wagering and issues it raises.
As Shakespeare wrote in Hamlet, “something is rotten in the state of Denmark”. The tale of Danske Bank has all the elements of a great tragedy: Employees arrested, senior executives fired, shell companies, whistleblowers and Russian dirty money. But this tale is true! Once one of Europe's most respected financial institutions, Danske Bank now stands as a glaring example of the perils of poor money laundering controls and the lengths the Department of Justice will go to punish poor AML practices. The bank stands accused of laundering over $200 billion through its operations in Estonia and the list of alleged violations stands as an excellent guide for your BSA/AML compliance efforts. This session will explore the process breakdowns and potential lessons learned from one of the largest money laundering scandals in history.
From big cities to college and university towns, agricultural communities to manufacturing centers, credit unions need to understand the rules for serving foreign nationals. This session will explore the distinctions between resident and non-resident aliens and how credit union can safely serve both groups.
For many credit union stakeholders, the focus on OFAC compliance has been a focus on the “List.” But it is much more than that. This session will step back from the Specially Designated Nationals list and review the other OFAC programs and how they may be implicated in day-to-day operations.
Read any good headlines lately? We have. Crypto currency, real estate purchases, bribes, deficiencies of AML compliance programs. We have it all. Let's talk about trends in the marketplace, and key indicators we should be looking for to ensure our credit unions are not being used for money laundering practices! Don't be the next financial institution named for deficiencies…. sometimes being in the spotlight isn't where you want your credit union to be! Keep informed of what's happening today!
Speaker: Andy Price
New guidance is on the horizon that will make it easier for credit unions to innovate their BSA compliance in the digital age. Learn about International Trends that will likely filter to the US BSA regulatory framework. Much work is progressing with the FATF FinTech & RegTech Initiative in such areas as Digital Identification, Distributed Ledger Technology, and others that can impact various analytical tools and KYC utilities. The US Treasury's Office of Terrorism and Financial Intelligence (TFI) is developing new BSA compliance approaches for institutions partnering with “financial technology” (FinTech) companies and those using “regulatory technology” (RegTech) such as artificial intelligence. This work builds on NCUA's recent “Joint Statement on Innovative Efforts to Combat Money Laundering and Terrorist Financing” that will revolutionize the way that credit unions comply with BSA and create new opportunities for serving members using internet-connected devices.
In this session you will learn:
Speakers: Sue Landauer, David Reed, TBA
Over 2 ½ days attendees have heard from numerous speakers on many dynamic topics. But we know we can't cover everything on your mind. This traditional closing session allows attendees to ask our assembled panel of experts anything on their minds in open forum.
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