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Suspicious Activity Reporting: How, when, why
(Presented By: Ken Golliher)
The most challenging compliance responsibility your financial institution faces is about to get a little easier.  | WEBINAR TIME:
11:30AM - 1:30PM PT
12:30PM - 2:30PM MT
1:30PM - 3:30PM CT
2:30PM - 4:30PM ET |
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WHAT?
This webinar focuses on one of your institution's most difficult compliance responsibilities. The program simultaneously fills a legally required training responsibility, Suspicious Activity Report (SAR) completion. Well publicized enforcement actions have been taken against banks that neglected these responsibilities are increasingly common - you want to make certain your institution is not added to the list.
WHY?
SAR filing is the end result of effective Bank Secrecy Act (BSA) and anti-money laundering compliance programs. Just as you are required to train employees on BSA's currency transaction reporting and recordkeeping requirements, you need specific training on SAR filing requirements. You may be motivated by an understanding that there is no risk vs. reward calculation that can cover the omission of a SAR. Alternatively, you may be prompted to register your bank by a simple desire to maintain your BSA expertise. In either case, your personnel need training in this area.
This webinar focuses on the requirements for SAR filing, the basics for creating a SAR filing process and the actual completion of the SAR.
Bankers who have had recent examinations indicate that the circumstances where they did not file a SAR are examined more thoroughly than those where they did - you must justify any SAR decision, whether you decided to file or not to file. However, very few bankers have the type of experience that helps them to evaluate fact situations that may be emblematic of illegal activity. Even after a thorough reading of the form's instructions and underlying regulations, it is oftentimes still a judgment call as to whether filing a SAR is appropriate. You need to make certain your judgment is based on the best information available.
This program helps participants analyze their responsibilities, understand the requirements for form completion and develop an identifiable process as recommended by bank regulatory agencies. It provides participants with an educational opportunity focused on SAR filing rather than the small amount of time oftentimes devoted to it during BSA seminars.
Program content includes:
the form and its instructions,
what is suspicious activity,
Treasury requirements,
regulatory agency requirements,
filing triggers,
identifying and retaining supporting documentation,
describing the criminal activity,
the "safe harbor" provisions,
developing a SAR filing procedures,
developing a SAR filing policy,
reporting to the board of directors and
recent developments in SAR filing.
Not Included
This seminar addresses SAR filing for depository institutions. Specific SAR filing responsibilities for members of the securities industries, MSBs and casinos are not addressed. This is a technical presentation, not basic training on recognizing suspicious activity.
Who Should Attend
Program content is at the intermediate level and the expected audience is compliance, security and BSA officers. The program is expected to meet the needs of employees from banks, thrifts and credit unions.
The Manual
The manual is designed to help attendees understand the law enforcement purposes behind the form and to complete it accurately.
The Speaker:
Ken Golliher is a principal with Pegasus Educational Services, LLC, a training firm headquartered in Louisville, Kentucky. He is an experienced banker with a unique ability to reduce complex legal concepts to plain English. He has explained the "why" and "how" of regulations to thousands of financial institution personnel and examiners. Ken's banking career began in 1972 and includes serving as a teller, commercial operations manager and as trust department legal counsel in a state and a national bank. For ten years he headed the education division of a regional consulting firm for financial institutions. He has served on the faculty of the LSU Graduate School of Banking, the OTS' Level I Compliance School and the FDIC's Advanced Consumer Protection School for examiners. He has presented seminars in more than 25 states and has served as an instructor at compliance schools sponsored by the Illinois, Indiana, Georgia, Kansas, Kentucky, Nebraska, Pennsylvania and Texas bankers associations. He is one of the moderators for the Bank Secrecy Act forum at http://www.bankersonline.com/
More information...
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888-229-8872