Triple threat? Do you know how E-SIGN, BSA, and CIP compliance
intertwine? E-SIGN has been critical to keeping the wheels on the bus during
the pandemic. “Signatures” are legally binding, and it offers accountholders
an attractive, touch-free option. Learn how compliance with these important
rules is critical to protecting your financial organization.
- Develop and use unique “out-of-wallet” questions to satisfy CIP requirements
- Explain the importance of complying with E-SIGN policies and procedures to staff
- Understand the components of a customer risk profile
- Distinguish which account opening steps are subject to E-SIGN compliance
- Identify red flags for reporting suspicious activity and fraud
E-SIGN compliance is one piece of the puzzle; knowing the customer’s “true identity” for
BSA and CIP completes the process. What additional “out-of-wallet” questions should be
asked in an E-SIGN account opening? How does electronic account opening impact the
BSA risk assessment process? Learn the additional controls needed to protect your
financial institution and red flags for reporting suspicious activity.
Susan Costonis, CRCM, Compliance Training & Consulting for Financial Institutions
Susan Costonis is a compliance consultant and trainer who began her career in 1978. She
specializes in compliance management along with deposit and lending regulatory training.
Susan has successfully managed compliance programs and exams for institutions that
ranged from a community bank to large multi-state bank holding companies. She has
been a compliance officer for institutions supervised by the OCC, FDIC, and Federal
Reserve. Susan has been a Certified Regulatory Compliance Manager since 1998,
completed the ABA Graduate Compliance School, and graduated from the University of
Akron and the Graduate Banking School of the University of Colorado. She regularly
presents to financial institution audiences in several states and “translates” complex
regulations into simple concepts by using humor and real-life examples.