Breakout Session 3

Steve Gibbs

BSA/AML/CIP/OFAC: Update
Steve Gibbs, Credit Union Resources, Inc., Plano, Texas

Join us as we take another, more advanced look at the Bank Secrecy Act, from review and current issues to updates and projections/discussion of future BSA/AML/OFAC issues. 

Discussions will include a addressing current issues affecting BSA:

  • Current Problems with BSA Programs
  • BSA/OFAC Risk Assessments
  • Policies and Procedures
  • CDD – Enhanced Member Due Diligence
  • Sale of Monetary Instruments and Wire Transfers
  • Sharing information with Law Enforcement Agencies
  • OFAC Issues
  • Potential/probable Changes to BSA Rules and Law

The program is highlighted by valuable anecdotal information, updates of current BSA/AML/OFAC regulations and discussion of the future of BSA and how we will adapt. 

Attendees should include credit union officers, management, compliance professionals and any other staff closely working with compliance issues.  Some knowledge of BSA is recommended, however not required. 

Knowledge Level: Basic
No Prerequisites or advanced preparation required
Field of Study: Regulatory Ethics

About Steve Gibbs

Steve Gibbs manages Shared Compliance Resources (SCR), a program he developed and began over 8 years ago to provide compliance consulting and support to credit unions in the form of a “time share” format.  SCR is a division of Credit Union Resources, Inc and the Cornerstone Credit Union League.  His career of over 30 years in the financial industry includes service with the Federal Reserve Bank of Dallas, the Federal Home Loan Bank of Dallas (Office of Thrift Supervision - “OTS”), and the Federal Deposit Insurance Corporation (FDIC), where he achieved professional designations and awards. Steve holds CUNA’s Credit Union Compliance Expert (CUCE) and Bank Secrecy Act Compliance Specialist (BSACS) certifications.  Prior to SCR, his positions at Cornerstone included Director of the Southwest CUNA Management School, Director of Information Central, and Lobbyist/Legislative Analyst.  He has presented to/performed training for financial industry groups including EPay (formerly SWACHA), the Texas Credit Union Department, EPN/The Clearinghouse, and the National Association of State Credit Union Supervisors (NASCUS), as well as leagues/associations in Louisiana, Kentucky, the Dakotas, Kansas, Nebraska, California, Mississippi, and Tennessee. In addition to speaking, Steve writes articles for numerous regional and national industry publications.

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