Stanley Foodman, CPA, CAMS, CFE, CFF, CGMA, TEP
CEO & President | Foodman CPAs and Advisors
Uday Gulvadi
Managing Director | Stout Risius Ross, LLCBolstering BSA/AML Compliance in 2023: Effective Risk Management Programs Explored | On-Demand Webinar
Broadcast Date: Wednesday, July 26, 2023 from 12:00 pm to 1:00 pm (ET)
The need for banks and other financial institutions to design their Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) compliance program is paramount to mitigate financing risks and, most importantly, ensure conformity with the heightening BSA/AML regulations. Adopting a risk-based approach that focuses on detection and mitigation measures from potential illicit financial transactions is at the core to avoid hefty fines and legal liabilities. Moreover, banks and financial institutions must keep themselves abreast with emerging regulatory developments to avoid pitfalls.
Join seasoned forensic accountant Stanley Foodman, CPA, CAMS, CFE, CFF, CGMA, TEP (Foodman CPAs and Advisors) and financial crime expert Uday Gulvadi (Stout Risius Ross, LLC) as they delve into an in-depth discussion of the crucial issues and trends reinforcing BSA/AML compliance. The speakers will also share fresh insights and practical tips for developing effective and robust risk assessment and management programs.
Key Topics:
- The BSA/AML Risk Assessment: An Overview
- Notable Enforcement Trends
- The Importance of a Risk-Based Approach in Identifying Risks
- The Interplay of Risk Assessment and Customer Due Diligence (CDD)
- Regulatory Outlook
Learning Objectives:
- Understand the key principles and methodologies of conducting a comprehensive BSA/AML risk assessment.
- Explore the interrelationship between risk assessment and customer due diligence (CDD) for enhanced compliance and effective anti-money laundering measures.
- Gain insights into the emerging regulatory developments and enforcement trends in the BSA/AML landscape.
Agenda:
Stanley Foodman, CPA, CAMS, CFE, CFF, CGMA, TEP, CEO & President, Foodman CPAs and Advisors
- The purpose of the regulations (the Spirit of the law).
- The blurring of borders between different regulatory regimes.
- The convergence of worldwide regulators.
- BSA/AML compliance in a world in flux.
Uday Gulvadi, Managing Director, Stout Risius Ross, LLC
- Creating a true risk-based AML and sanctions program
- Building a strong AML governance framework
- Lessons learnt from recent enforcement actions
- Updates from AML Act 2020 and FinCEN priorities
- Regulatory guidance on CDD and EDD
Who Should Attend:
- AML/BSA Lawyers
- Financial Crime Lawyers
- Corporate Lawyers
- White-Collar Lawyers
- Chief AML Officers
- Chief Financial Officers
- Chief Compliance Officers
- AML/BSA Compliance Managers and Officers
- AML/BSA Analysts
- Financial Crime Investigators
- Fraud Risk Managers
- Fraud Investigators
- Financial Compliance Officers
- VPs/Directors of Finance
- Financial Reporting Officers
- General Counsel
CLE Credit:
Course Level: Intermediate
Advance Preparation: Print and review course materials
Method of Presentation: On-Demand Webcast, Group-Internet Based
Prerequisite: General knowledge of banking and finance laws
Course Code: 1410482
NY Category of CLE Credit: Areas of Professional Practice
NASBA Field of Study: Business Law – Technical
Total Credits: 1.0 CLE | 1.0 CPE (Not eligible for QAS (On-demand) CPE credit)