The May 11, 2018, mandatory compliance date is fast approaching for the “strengthening’ Customer Due Diligence and the new Beneficial Owner rules. Will you be ready? Where are you at with your action plan? Have you thought of everything? Will you have time to test your process before implementation? Are you keeping Management and the Board apprised of your progress? Have you trained the Board on the major requirements of the new rule? Don’t forget to do this BEFORE you submit the updated BSA/AML/OFAC Policy and Customer Due Diligence Program for their approval. The Board needs to be informed and knowledgeable of the regulatory requirements in order to approve Policy and to provide direction for the BSA/AML Program; after all, they are ultimately responsible for the bank’s BSA/AML compliance! To help you out, we’ve put together a list of checkpoints (see below) to keep you on track and to keep your Management and Board informed.
Also, if you’re looking for additional training on the Customer Due Diligence and the new Beneficial Owner rules, we’ve got you covered. On February 7, 2018, we will be offering a 2-hour webinar on Customer Due Diligence Programs & Beneficial Owners and then on April 4, 2018, we will be offering a 1-hour webinar on Customer Due Diligence & Beneficial Owners for Commercial Lenders.
Deb joined Banker’s Compliance Consulting with twenty years of experience in the banking industry. Her past positions include teller, credit review analyst, assistant financial officer, BSA Officer, Compliance Officer, and Director of Compliance. She has worked for both a small community bank and a large billion-dollar bank.
Deb has Associate Degrees in Business Management and Accounting. She is a graduate of the American Bankers Association National Graduate School of Compliance Management, an honors graduate of Schools of Banking Compliance School, and a graduate of Schools of Banking Advanced School of Banking. Deb’s considerable knowledge and experience make her a valuable member of the Banker’s Compliance Consulting Team. Deb is a Certified Regulatory Compliance Manager (CRCM) and a Certified Anti Money-Laundering Specialist (CAMS).
Deb loves to spend her free time cycling, running, kayaking and weight lifting with her husband. Between them, they have three adult children and six grandchildren. Other interests include anything outdoors and anything she hasn’t done or seen yet!