BSA: New Employees
If you are new to banking, there is a lot to learn which can be quite overwhelming. While you need to become proficient at your specific job duties, you also need to know how those could intersect with other requirements of the bank. One such requirement is the Bank Secrecy Act and Anti-Money Laundering rules. This affects all areas of a bank and you should receive training within a reasonable time after being hired. But, you still may be thinking what is BSA/AML and why is it important?
Kevin explains more in the video.
- BSA/AML/OFAC for Beginners
- Financial Crime and the Need for Recordkeeping
- Customer Identification Program (CIP)
- Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD)
- Identifying Unusual Activity and Asking the Right Questions
- Identifying, Verifying and Certifying Beneficial Owners of Legal Entity Customers
- Currency Transaction Reports, Monetary Instruments &
- Suspicious Activity Reporting Requirements
Kevin brings years of experience and a unique perspective on regulatory matters to our clients. A self-proclaimed geek and accredited CRCM, Kevin is also a recovering attorney with experience as in-house counsel for a large regional bank and one of the leading national title insurance providers. For reasons unknown, Kevin decided to leave the safety and serenity of his desk job to seek fortune and glory as a wandering adventurer. Like a bank compliance version of Kwai Chang Caine, The Man with No Name or Don Quixote, he now travels the land seeking to help those in need and righting compliance wrongs, wherever he may find them. Kevin lives in Sioux Falls with his two children, who are surprisingly normal after having endured their father’s vivid imagination for their entire lives. He won’t admit to having any hobbies, because apparently “Regulations never sleep.” (While he does say this in his Batman voice, we’re pretty sure he’s joking.) From the looks of his Facebook page, he likes the outdoors and spending time with his large extended family (who seem like relatively normal people).