Broadcast Date: Wednesday, July 26, 2023
from 12:00 pm to 1:00 pm (ET)
Overview:
The need for banks and other financial institutions to design their Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) compliance program is paramount to mitigate financing risks and, most importantly, ensure conformity with the heightening BSA/AML regulations. Adopting a risk-based approach that focuses on detection and mitigation measures from potential illicit financial transactions is at the core to avoid hefty fines and legal liabilities. Moreover, banks and financial institutions must keep themselves abreast with emerging regulatory developments to avoid pitfalls.
Join seasoned forensic accountant Stanley Foodman, CPA, CAMS, CFE, CFF, CGMA, TEP (Foodman CPAs and Advisors) and financial crime expert Uday Gulvadi (Stout Risius Ross, LLC) as they delve into an in-depth discussion of the crucial issues and trends reinforcing BSA/AML compliance. The speakers will also share fresh insights and practical tips for developing effective and robust risk assessment and management programs.
Key topics that will be covered in this discussion are:
- The BSA/AML Risk Assessment: An Overview
- Notable Enforcement Trends
- The Importance of a Risk-Based Approach in Identifying Risks
- The Interplay of Risk Assessment and Customer Due Diligence (CDD)
- Regulatory Outlook
Learning Objectives:
- Understand the key principles and methodologies of conducting a comprehensive BSA/AML risk assessment.
- Explore the interrelationship between risk assessment and customer due diligence (CDD) for enhanced compliance and effective anti-money laundering measures.
- Gain insights into the emerging regulatory developments and enforcement trends in the BSA/AML landscape.
Credit:
Course Level:
Intermediate
Advance Preparation:
Print and review course materials
Method of Presentation:
On-Demand Webcast, Group-Internet Based
Prerequisite:
General knowledge of banking and finance laws
Course Code:
1410482
NY Category of CLE Credit:
Areas of Professional Practice
NASBA Field of Study:
Business Law – Technical
Total Credits:
1.0 CLE
1.0 CPE (Not eligible for QAS (On-demand) CPE credit)
How to Claim CLE Credits Per State:
https://knowledgewebcasts.com/how-to-claim-cle-credits-per-state/
CLE State Requirements:
https://knowledgewebcasts.com/cle-state-requirements/
CPE State Requirements:
Speaker Panel:
Stanley Foodman, CPA, CAMS, CFE, CFF, CGMA, TEP, CEO & President
Foodman CPAs and Advisors
Stanley is the President and CEO of Foodman CPAs & Advisors. He is a bilingual professional that specializes in Financial Institution Compliance, Complex Tax Compliance and Forensic Accounting.
He was a sworn reserve agent for the Florida Department of Law Enforcement who was assigned to assist the U.S. Customs and Border Protection, the U.S. Attorney in Miami, Florida, the DEA and the FBI.
As a forensic accountant, Stanley has participated in a significant number of federal economic crimes trial as a prosecution and as a defense expert. The matters involved defendants charged with being members of organized crime organizations, kidnappings, murders, money laundering, OFAC violations, FCPA violations and international tax evasion.
Uday Gulvadi, Managing Director
Stout Risius Ross, LLC
Uday Gulvadi is a Managing Director in the Disputes, Claims, & Investigations group. He is a financial crimes, internal audit, and risk advisory expert with over 20 years of experience in internal audit, risk management, compliance, anti-money laundering (AML), and financial crimes compliance.
Mr. Gulvadi brings extensive international business experience successfully leading and delivering projects with international clients in the U.S., Europe, and Asia. He has held Partner and Director positions within the internal audit and risk management practices at leading national and regional accounting and advisory firms. He brings considerable global expertise as a business and practice leader with responsibilities for: client relationship management; new product/service development, marketing, branding, and positioning of professional advisory services; building and mentoring a team of professionals; service quality enhancements; knowledge management; and innovation. Mr. Gulvadi specializes in advising boards, audit committees, and senior management on their most challenging financial crimes compliance, governance, and risk and compliance matters, including enterprise risk management, AML and sanctions program governance, model validations, risk-based internal audits, information technology, and cybersecurity audit and controls.
Mr. Gulvadi’s clients have ranged from some of the world’s largest banks and financial institutions to smaller financial services companies. He is an industry-recognized leader and Board member and Immediate Past President of the Institute of Internal Auditors, New York.
Agenda:
Stanley Foodman, CPA, CAMS, CFE, CFF, CGMA, TEP, CEO & President
Foodman CPAs and Advisors
- The purpose of the regulations (the Spirit of the law).
- The blurring of borders between different regulatory regimes.
- The convergence of worldwide regulators.
- BSA/AML compliance in a world in flux.
Uday Gulvadi, Managing Director
Stout Risius Ross, LLC
- Creating a true risk-based AML and sanctions program
- Building a strong AML governance framework
- Lessons learnt from recent enforcement actions
- Updates from AML Act 2020 and FinCEN priorities
- Regulatory guidance on CDD and EDD
Date & Time:
Wednesday, July 26, 2023
12:00 pm to 1:00 pm (ET)
Who Should Attend:
- AML/BSA Lawyers
- Financial Crime Lawyers
- Corporate Lawyers
- White-Collar Lawyers
- Chief AML Officers
- Chief Financial Officers
- Chief Compliance Officers
- AML/BSA Compliance Managers and Officers
- AML/BSA Analysts
- Financial Crime Investigators
- Fraud Risk Managers
- Fraud Investigators
- Financial Compliance Officers
- VPs/Directors of Finance
- Financial Reporting Officers
- General Counsel
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