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Updating Your CDD Program: Beneficial Ownership, Triggering Events & New SSN Verification

May 19 2:00 PM - May 19, 2020 3:30 PM
May 19, 2020 2:00 PM - 3:30 PM

Is your CDD program up to snuff? Do you know about triggering events and the new SSN verification? How are customer risk profiles developed? Go beyond just learning to navigate the rules. Sample policy will guide you in updating your CDD program and meeting compliance obligations.

Learning Objectives

  • Navigate the gray areas and accurately identify beneficial owners
  • Get the information you need without sacrificing the accountholder experience
  • Initiate event-triggered account reviews to ensure beneficial ownership and risk profile information is current and conforms to regulatory standards
  • Audit your CDD program to prepare for your next exam
  • Review the new SSN Verification (eCBSV) service to determine whether to enroll

When you think of CDD, you probably think of the beneficial ownership requirements. BSA’s fifth pillar is comprised of four core elements:

  • Customer identification and verification
  • Beneficial ownership identification and verification
  • Development of a customer risk profile
  • Ongoing monitoring

These new regulations significantly changed the account opening process, adding additional steps and due diligence. This session will teach effective ways to gather and verify beneficial owner information, including best practices for establishing the account’s purpose and anticipated activity. But information gathering is just part of the process. What do you do with it? How do you know when something is outside an accountholder’s“ norm”? Which triggering events require file updates? Attend this jam-packed session for solutions to navigate the CDD requirements and learn how the new SSN Verification (eCBSV) service can enhance your due diligence and identity theft protection programs.



Dawn Kincaid, Brode Consulting Services, Inc.

Dawn Kincaid began her banking career while attending The Ohio State University. She has 19 years’ experience in client service, operations, information technology,administrative and board relations, marketing, and compliance. Most recently Dawn served as the Senior Vice President of Operations for a central-Ohio-based community bank, where she created and refined policies and procedures, conducted self-audits and risk assessments, and organized implementation of new products and services. Dawn has served in the roles of Compliance, BSA/AML, CRA, Privacy, and Security Officer. She has led training initiatives, prepared due diligence information, completed a variety of regulatory applications, coordinated internal and external audits and exams, and presented for numerous state associations.




Additional Info

Event Type

On-Demand Webinar

Topics Covered

  • On-Demand Webinars
  • Operations