Welcome to the Compliance Cohort. We are a group of compliance professionals working to make compliance easier. Our goal is to take complex compliance concepts and put them in simple terms that apply to the real world. We are glad you have found us and look forward to collaborating in the future.
If you haven't done so already, make sure you sign up for our free membership where you get access to many member-only videos, articles, and other resources.
When it comes to BSA Training for the Board of Directors, the FFIEC BSA Exam Manual specifically says this: “The board of directors and senior management should receive foundational training and be informed of changes and new developments in the BSA…”
In other words, examiners are looking for two distinct types of BSA training for the Board of Directors: 1) foundational training and 2) training on changes and new developments in the BSA/AML world. While we have specifically designed our BSA for the Board of Directors program to satisfy the first requirement, the second type of training is a completely different type of program.
Our BSA Annual Update for the Board of Directors is a video-based training program that is specifically designed to provide the Board and Sr. Management with both 1) a very quick overview of foundational BSA/AML training and 2) training on changes and new developments in BSA/AML rules and regulations. Presented with a “bottom line” approach, this program is as short and to the point as possible, covering both a basic overview of BSA and an entire year’s worth of BSA activity in just under 30 minutes.
At the end of the day, our BSA Annual Update for the Board is an efficient way to show regulators that your Board (and Sr. Management) has satisfied training expectations found in the FFIEC BSA Exam manual where it says the Board “should receive foundational training and be informed of changes and new developments in the BSA.”
This program has been specifically designed for the Board of Directors and Sr. management of financial institutions, but would also be good for anyone else wanting a bottom-line approach to foundational BSA/AML training as well as changes over the last year.
NOTE: There are multiple ways for us to deliver this video program to your directors - including an option for a private portal for your directors to access - so let us know if you have questions.
Regular: $399
NOTE: If you would like to sample this program before purchasing it, just let us know and we can let you preview it before you purchase it.
Our “BSA Annual Update for the Board of Directors” is a comprehensive, but quick and to-the-point program designed to assist in training the Board of Directors on the Bank Secrecy Act. The program includes an on-demand video (with a download option), a comprehensive manual, and presentation slides (Powerpoint) that can all be used for training the Board of Directors on the Bank Secrecy Act and anti-money laundering. The program actually provides three options to present the training to the Board:
Private Portal. First, we can set your organization up with a private link for your directors to log in individually and stream it from their own location - just email us for more info on this option.
Downloaded Video. Second, financial institutions can play our pre-recorded video during a Board meeting. This can be accomplished by either playing our on-demand video (streaming from our site) or by downloading the full MP4 file and playing it from your own computer (recommended).
Training Material for Employee Deliver. Lastly, financial institutions can utilize our comprehensive training manual and slides in order to have a bank employee provide the board training in person. If this option is chosen, the trainer can use our video as a guide of what their training could be like.
Understanding that Directors need an efficient and high-level overview for any type of training, this program is designed to provide comprehensive training for the Board of Directors in under 30 minutes.
NOTE: If you would like to sample this program before purchasing it, just let us know and we can work something out.
The class provide the Board of Directors an overview of BSA/AML changes from the prior year. Due to time constraints of the program and perceived applicability to attendees, some topics will be reviewed in greater details than others.
Part 1: An Overview of BSA
Introduction to BSA
The 5 pillars of BSA
Training Expectations for the Board
Managing Risk in a BSA Program
Part 2: BSA/AML Changes (from October 1, 2023 to September 30, 2024)
Beneficial Ownership Updates
OCC Takes Action Against Blue Ridge Bank for BSA Violations
FRB Takes Action Against Evolve Bank for AML and Other Compliance Deficiencies
FinCEN Issues Notice on Use of Counterfeit U.S. Passport Cards in ID Theft and Fraud
FinCEN Issues Alert on Fraudulent Scams that Target BOI Reporting Entities
“ “The BSA Annual Update for the Board was an excellent webinar that updated the Board with the most relevant information. Adam’s presentation is personable and well received. The Board was engaged and asked questions afterward.””
““This course covered both the basics and current topics in an easy to understand format and in under 30 minutes. The directors were engaged, and asked questions about particular topics such as ransomware and 1071 reporting following the training. As the BSA officer, it was great to have this interaction with them, and discuss further the specifics of our institution.””
““Adam is an excellent presenter and covers the most relevant issues.””
This Compliance Class can be completed without leaving your office and provides you with everything you need to know about what BSA related activity took place during the prior year.
The class includes the following:
A comprehensive manual
A “virtual classroom” instructional video
60-day access to the class
Multiple virtual delivery options available upon request
All of our Compliance Classes are presented in our virtual classroom approach. This approach is designed to bring the presenter to you (at a fraction of the cost of having a live person) and includes a video of the presenter in front of a slide presentation that replicates a typical seminar environment. In addition, our presenters take a three-part approach to compliance instruction: to educate, to empower, and to entertain. This is achieved by focusing on relevant topics, speaking in simple to understand, layman's terms, and by keeping it light and humorous whenever possible. We have found that this "3-E" approach allow students to learn as quickly and effectively as possible. And, it adds a little bit of fun to an otherwise dreadful topic.
When you purchase this compliance class, you get instant access to the online version of this class for 60 days. You will also receive an electronic version of the accompanying manual to keep.
We believe in our training products so much that we are offering a 100% money back guarantee within the first 10 business days after purchase. If you do not feel that you received the value promised for this training session, contact us within the first 10 business days after purchase and we will either make things right or provide 100% of the purchase price back to you.
