2024 BSA/AML & Fraud Prevention

OVERVIEW

This program is designed for BSA professionals at all levels, from experienced managers to new analysts, designed to provide a hands-on, “practitioner’s” approach to critical thinking and compliance management. It includes an in-depth review of current events, along with a clear understanding of how to apply the fundamental regulatory requirements to today’s expectations. The program’s primary objective is to deliver a thoughtful and comprehensive deliberation of the challenges associated with BSA/AML compliance.

OBJECTIVES

Participants will:

• Understand recent Bank Secrecy Act and Anti-Money Laundering program requirements
• Identify techniques to improve their BSA risk assessment to address all business lines and risk exposures at various levels within their bank.
• Review your transaction monitoring system and assess your ability to effectively review and analyze transactions performed by customers on an ongoing basis.
• Discuss how to determine if their AML models are working as intended.
• Understand how AI can increase the effectiveness and efficiency of financial crime investigations and the institution’s risk management.

AUDIENCE

BSA/AML Officers, Compliance Officers and Managers, Risk Managers, Operations Managers, and any person who has BSA and/or Fraud related responsibilities at the bank.

AGENDA

8:30 AM to 4:30 PM, preceded by Breakfast at 7:30 & Lunch at Noon

Topics include:

• AML Model Risk Management and Validation: Best Practices - Jason Chorlins, Kaufman Rossin & Maleka Ali, Arc-Serv
  • How do we know that our AML models are working as intended? Erroneous or misspecified models may lead to expensive lookbacks or other regulatory fines. In this session we will provide clarifications and specific suggestions for improving the AML model validation process.
• Higher Risk Relationships, Transaction Monitoring & SARS - Terri Luttrell, Abrigo & Stephen King, Wolf & Co.
  • AML regulation requires enhanced due diligence (EDD) for higher-risk situations, and Transaction Monitoring helps by reviewing and analyzing transactions performed by customers on an ongoing basis to better identify and investigate suspicious activity.
• Artificial Intelligence (AI) & Data Governance - Jason Chorlins
  • AI can increase the effectiveness and efficiency of financial crime investigations, and the institution’s risk management, and also has the potential to slash the costs of doing it.
  • Effective data quality and governance practices can help financial institutions identify and prevent money laundering, terrorist financing, and other financial crimes.
• Recent Enforcement Actions - BJ Moravek, Kaufman Rossin & Maleka Ali
  • We will look at some recent enforcement actions, what went well, what didn’t, and lessons learned. Then you’ll have an opportunity to look at a couple of case study scenarios and determine what actions need to be taken.
• BSA and Third-Party Risk - Stephen King
  • Third-party oversight and due diligence are critical components of anti-money laundering (AML) compliance programs, and regulators expect banks to have effective oversight of their third parties. This can be very challenging with organizations involved in Payments, Fintech & Crypto.
• Fraud: Managing the Epidemic - Special Agent from the U.S. Secret Service (USSS) with Victor Cardona, Golden State Bank & Terri Luttrell
  • The COVID-19 pandemic has helped create a breeding ground for fraudsters seeking to exploit the financial industry. As fraud schemes increase in quantity and sophistication, banks are challenged in protecting their reputations and assets. We will look at some of these schemes including imposter scams, online shopping scams, prizes/sweepstakes, lotteries, and cyber-enabled fraud. And then you will hear some real-life stories from the Secret Service.

 SPEAKERS

Jason Chorlins, CPA, CFE, CAMS, CITP, Principal - Risk Advisory Services, Kaufman Rossin

Jason Chorlins spearheads forensic and financial service investigative engagements as the banking practice co-leader of Kaufman Rossin’s risk advisory services practice. He advises clients on money laundering, internal corporate investigations, due diligence and regulatory compliance matters to help them manage risk.

B.J. Moravek, CGSS, Director of AML & Sanctions Compliance - Risk Advisory Services, Kaufman Rossin

B.J. Moravek is a Director of AML & Sanctions Compliance in Kaufman Rossin's risk advisory services group, where he applies his expertise to assist clients with complex Bank Secrecy Act and Anti-Money Laundering (BSA/AML) and sanctions compliance, as well as investigative matters. 

Stephen R. King, JD, Principal, Wolf & Company, P.C.

Steve is a Principal in Wolf’s Advisory Group. Steve guides clients through the myriad of federal and state banking statutes from an operational and legal perspective. Stephen is responsible for leading a team of professionals to ensure the successful delivery of compliance services to Wolf’s clients. Stephen joined Wolf in 1996 and has over thirty years of experience as a compliance advisor, facilitator, and resource for financial institutions, mortgage lenders, fintechs, cryptocurrency entities, and investment advisors in compliance matters. He is an avid speaker and regularly travels to events to educate members of financial industry associations throughout the country.

 Terri Luttrell, CAMS-Audit, Compliance and Engagement Director, Abrigo

Terri is a seasoned AML professional and former director and AML/OFAC officer with over 20 years in the banking industry. She has successfully worked with institutions in developing BSA/OFAC programs, optimizing various automated solutions, and streamlining processes while ensuring all regulatory requirements are met.

Maleka Ali, CAMS-Audit, President, Arc-Serv

Maleka has 35+ years of experience servicing the financial community in all areas, including operations, fraud, compliance, and risk management. Her experience included a 13-year tenure for a major AML software company, where she learned the ins and outs of how AML systems work from the ground up.  She has worked heavily with OFAC and BSA compliance and developed and implemented AML/CFT programs, comprehensive risk assessments, and Model validations at dozens of financial institutions. She was a founding Board Member for the ACAMS Southern California chapter.

Victor Cardona, CAMS, Senior Vice President, BSA Officer, Golden State Bank

Victor has been in banking since 2004, specializing in BSA/AML compliance since 2005. Outside of the banking industry, Victor is also an Adjunct Professor at Cal Poly Pomona where he teaches Forensic Accounting.

Elizabeth (“Liz”) Slim, CAMS, Project Manager, Arc-Serv LLC (PROGRAM MODERATOR)

Elizabeth (“Liz”) Slim leads and manages model and data validation projects from initiation to completion, ensuring adherence to project scope, timeline and budget.  Liz also provides consulting services specializing in anti-money laundering and financial crimes for financial service companies.  Liz is a Certified Anti-Money Laundering Specialist (“CAMS”) for 17 years with over 35 years specializing in bank operations, compliance, risk management and regulatory training at various community to mid-size financial institutions.