This webinar will discuss the current “industry best practice” for the alert/case management investigation process, and any guidance from the regulators. The instructor will cover a sample methodology meant to demonstrate what your institution may be doing, and opportunities to improve it. Participants will understand about the rules/scenarios thresholds that are leading to alerts/cases. It will help you answer
What is your escalation process?
What policies guide your investigation process?
What policies dictate when you file an alert/case?
Why Should You Attend:
The art and science of Alert/Case Investigation has matured along with other elements of BSA/AML/OFAC Compliance, spurred on by ever more stringent regulations and stricter adherence to the letter and spirit of the rules by examiners. As with many other of the elements of BSA Compliance, there is little official guidance. OFAC has provided some guidance as to how to clear and manage sanctions “hits.”
In this training session, we will explore the components of a loosely defined “industry practice” alert and case clearing methodology. What are the corresponding quality control issues and the importance of an alert/case management system? It will help you answer the listed below questions:
What makes good investigation?
What is enough to determine the difference between a false positive and true positive?
What constitutes a practical and proper escalation process?
Who decides when the case becomes a matter for filing?
At what point do excessive numbers of false positives lead to revision of rules/scenarios thresholds?
Who Will Benefit:
BSA/AML Officers
Compliance Officers
Chief Compliance Officers
Sanctions Officers
AML Analysts
Risk Officers
Chief Risk Officers
Legal Departments
Risk Managers
CEO/Presidents
Banks
Broker-Dealers
Money Services Businesses
Other non-bank financial institutions
Instructor Profile:
John Reynolds is a former Bank regulator, having retired from the NY Fed as an examining officer in the financial institution supervision group. Mr. Reynolds started out his career as an assistant bank examiner in 1979 working up through the ranks and has been involved in all facets of bank examination work at international, large complex institutions, regional, and community institutions. From 2009 until his retirement in 2015, he played a leadership role in the NY Fed’s Compliance examination work, where he guided teams of examiners reviewing institutions’ compliance with AML-BSA and OFAC regulations and laws.
Mr. Reynolds holds a BS in accounting from Fordham University and an MBA in International Finance from New York University.