Correspondent banking relationships have become a hot topic with BSA/AML over the past few years. The U.S. Treasury Department has placed more importance on the examination of correspondent banking relationships and has added more guidance related to the issues of “de-risking” (terminating/exiting current correspondent banking relationships). This training session will highlight why it is essential to know the risks related to correspondent banking relationships, the regulatory guidance issued for maintaining these relationships and the concept that financial institutions can always make a business decision as they see fit. Why You Should Attend: There are many risks related to acquiring, maintaining and supervising correspondent banking relationships which employees and management of financial institutions need to be aware of. With the enhanced scrutiny by regulators of a financial institution’s compliance program regarding correspondent banking relationships and the trend for financial institutions to rethink their decisions to maintain these relationships, it is important that employees and management of financial institutions are aware of and fully understands correspondent banking regulations and guidance. In this webinar, attendees will learn the risks and responsibilities for maintaining a correspondent banking relationship in 2020. Areas Covered in 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 When to perform enhanced due diligence What is nesting Knowing the customer’s customer Communications between the correspondent bank and the respondent bank OFAC responsibilities of correspondent banking Who Should Attend: 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 Everyone who deal with correspondent banking risk


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