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CDD: Creating an Effective Program from the Frontline to the Backroom

Aug 03 2:00 PM - Aug 03, 2022 3:30 PM
Aug 03, 2022 2:00 PM - 3:30 PM
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CDD is a crucial aspect of BSA – but there’s much more to the fifth pillar than that! This informative program will cover all the aspects, challenges, and requirements. Join us to get the keys to the BSA kingdom for customer due diligence, beneficial ownership, risk profiles, and monitoring.

Learning Objectives

  • Navigate the gray areas of identifying 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 the next exam
  • Review the new SSN verification (eCBSV) service to determine if your institution should enroll
  • Understand the impact of the AML Act of 2020 on the future of CDD requirements

When you think of CDD, you probably go right to the beneficial ownership requirements. But 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 regulatory essentials significantly impact the account opening process, adding additional steps and affecting the due diligence required. This session will provide effective ways to gather and verify beneficial owner information and present best practices for obtaining information to establish the account’s purpose and anticipated activity. Acquiring this data is just part of the process. What is done with the information once you have it? How do you know when something is outside the “norm”? What triggers require an update to the information on file? Join this jam-packed session to learn solutions to the hurdles encountered in meeting the CDD rule requirements. 

Agenda

Speakers

Dawn Kincaid, Brode Consulting Services, Inc.

Dawn Kincaid began her banking career while attending The Ohio State University. She has over 20 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.

Location

Fees

$259.00 

Your registration includes unlimited locations, making it easier to share and learn with remote staff.

Please note: You may share the link with others at your credit union, however the confirmation will be sent to one primary contact at your credit union. It will be up to the primary contact to share the material with others.

Additional Info

Event Type

On-Demand Webinar

Topics Covered

  • On-Demand Webinars
  • Member Service