AML Risks in Correspondent Banking: What You Need to Know for 2017
Instructor:
Joe Soniat
Product ID: 704997
- Duration: 60 Min
Why Should You Attend:
AML risks in correspondent banking - what do you need to know for 2017? In this webinar, attendees will learn the risk and responsibilities for being a correspondent bank in 2017 and what may be asked from you if you are a respondent bank.
Key takeaway from the session:
- Knowing the risk of correspondent banking
- The responsibilities of the correspondent and respondent bank
- US regulations dealing with correspondent banking
- Financial Action Task Force (FATF) recommendations on correspondent banking
- Know your customer / customer due diligence for correspondent banking
Areas Covered in the Webinar:
- Knowing the risk of correspondent banking
- The responsibilities of the correspondent and respondent bank
- US regulations dealing with correspondent banking
- Financial Action Task Force (FATF) recommendations on correspondent banking
- Know your customer/customer due diligence for correspondent banking
- When to perform enhanced due diligence
- What is nesting
- Knowing the customer’s customer
- Communications between correspondent bank and respondent bank
- OFAC responsibilities of correspondent banking
Who Will Benefit:
- BSA/AML Officers
- Compliance Officers
- Enterprise Risk Managers
- Bank Compliance Officers and Assistants
- Bank Secrecy Act Officers and Assistants
- Bank Secrecy Act Analysts
- Credit Union Compliance Officers
- Internal Auditors
- Risk Managers
- Staff with BSA/AML oversight responsibilities
- Anyone who deals with correspondent banking risk
Joe Soniat
Bank Secercy Act Officer, Union Bank and Trust
Robert J. Soniat (Joe) is the BSA officer for Union Bankshares Corporation, located in Richmond, Virginia. He also worked as a finance officer for the United States Government from 2002 – 2004. He holds a Bachelor’s of Science in Accounting from Virginia Commonwealth University as well as minors in criminal justice and international relations. Since his time at VCU, Mr. Soniat has been looking for ways to help fight financial crimes and money laundering; it was not until he came to Union Bankshares he found that he could be on the front lines in BSA.
Mr. Soniat is the officer of the BSA AML programs for Union Bankshares Corporation, all three banks and its subsidiaries. In October of 2008, he became a Certified Anti Money Laundering Specialist (CAMS). He is also a BSA Coalition Advisory Board Member, which consists of bankers and regulatory representatives from various federal and state banking agencies from the fifth district of the Federal Reserve.
Refund Policy
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