Last Minute Training Tips for BO and CDD


Presented by: Mary Beth Guard

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After years of discussion and anticipation, the Beneficial Owner/Customer Due Diligence rule is a reality that every frontline employee of a financial institution will need to deal with. You have trained your staff, you've modified your procedures, but this is a big game changer, filled with new terminology, new requirements, new customer relations challenges. This program provides strategies and tips for reframing and reinforcing what bank staffers need to know and do.

This is a Train the Trainer program. Whether you're the in-house trainer, BSA officer, or in charge of all compliance matters, this webinar will arm you with key tactics for breaking down the complex concepts for your frontline and ensuring consistent, compliant implementation. Recognizing that this affects various departments within your institution, we will provide guidance about the nuances that come into play and how your approach should differ for the different business units - deposits, loans, safe deposit rentals. You'll get charts and quick reference guides to help your staffers take a consistent, methodical approach to compliance.

Perhaps you have already conducted bank-wide training on the new rule. Our experience shows us that employees absorb the information in layers, piece by piece. Rather than simply hitting "replay" to tell them what you told them already, our program will equip you with a fresh set of explanations, illustrations, examples, even scripts, to get you out of the box.

This program will provide training tips for every aspect of the rule, including:
  • Important definitions
  • Why the rule was adopted
  • Consequences of noncompliance
  • When the rule is applicable
  • To which customers the rule applies
  • How to talk to the customer about the new requirements
  • Questions customers are likely to ask - and the answers to them
  • Understanding the two prongs: ownership and control
  • What information must be obtained
  • Explaining the "direct or indirect" test for beneficial ownership
  • All about the certification
  • The bank's responsibility vs. the responsibility of the person opening the account
  • How this is different from CIP; how it is similar
  • Verification of identity
  • When you can't proceed
  • The effect of not having an "existing customer" exception
  • If your bank has set stricter requirements than the rule (such as a lower threshold for beneficial ownership)
  • Common misconceptions to avoid
And, of course, we will include any last minute clarifications FinCEN issues (such as updatd FAQs, if they are released before the program)

Who should attend:
This program is designed for in-house trainers, BSA officers, compliance officers who are responsible for doing training and/or ensuring compliance with FinCEN's Beneficial Owner/Customer Due Diligence rule.

About the Speakers: Mary Beth Guard is one of the four co-founders of BankersOnline. Since its inception, she has served as the site's Executive Editor. Mary Beth is also the director of (formerly BOL Insiders), the premier subscription-based compliance service now being offered online. Also, Mary Beth serves as CEO of Glia Group, Inc. (which produces BOL Learning Connect) and is a partner in BankGuard Resources. For more than three decades, Mary Beth has utilized her background as an attorney to focus on banking industry issues, first as general counsel for the Oklahoma State Banking Department, then as general counsel for the Oklahoma Bankers Association, prior to her work with BankersOnline.

Mary Beth has presented training programs for virtually every major national financial industry association, as well as more than a dozen state bankers associations and a host of other organizations. She is a frequent presenter of webinars and seminars. In addition, Mary Beth has written more than a thousand banking-related articles and is BOL Guru #1.

Brian Crow is Executive Vice President at Thomas Compliance Associates, Inc. in Chicago, IL. Brian brings 20 years of prior banking experience to the consulting field. He was most recently Assistant Vice President and BSA Administrator for a suburban Chicago bank, where his responsibilities included preparing the bank's annual BSA risk assessment and audit documentation. Earlier as Operations Officer at the same bank, Brian monitored AML activity, aided in the implementation of the bank's AML software, and designed the bank's authentication blocking program that helped to reduce debit card fraud losses by 95 percent. Brian's responsibilities also included managing the bank's Regulation E claims, managing the bank's courtesy overdraft program, reviewing Reg CC hold notices for accuracy, and processing claims for fraudulent signatures and endorsements.

Mr. Crow has been, and continues to be, an education consultant for BOL Learning Connect, conducting webinars that have covered VISA/MasterCard chargebacks, debit card compliance and fraud prevention for hundreds of banks. It was in this role that Mr. Crow was recognized as a Bankers Online Guru in 2011.

Like many of us, Mr. Crow began his banking career as a teller, working his way up to head teller and then branch management responsibilities. He earned a B.A. degree in Theology from Concordia University, River Forest, Illinois. Because of his education background, Brian has been given the unofficial title of "Security Evangelist" as he strives to help financial institutions protect their bottom line from losses related to fraud.

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  • Model: cd_bocdd0518
  • Manufactured by: Glia Group, Inc.

This product was added to our catalog on Tuesday 03 April, 2018.

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