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Webinar: BSA & OFAC Training

Compliance with the Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC) remains an important issue with regard to examinations and credit union liability. A substandard BSA / OFAC compliance program may expose your credit union to unwanted regulatory scrutiny and extensive penalties. In this comprehensive webinar, learn foundational BSA/OFAC concepts as well as more advanced topics. Gain critical insight from Steve Gibbs, CUCE, BSACS, as he presents BSA/OFAC compliance in this virtual, live webinar.

Upon completion, Cornerstone League will issue certificates of completion, listing those from your credit union who attend the training session to retain for documentation.   

Date & Time

Feb. 9, 2022
Noon - 1 p.m. CT

Topics Covered

  • Bank Secrecy Act (BSA) compliance requirements and hot spots  
  • Office of Foreign Assets Control (OFAC) compliance requirements  
  • Anti-Money Laundering (AML) issues  
  • Specially Designated Nationals and Blocked Persons (SDN List)  
  • Member Identification Program (MIP / CIP) 
  • Currency Transaction Report (CTR) requirements 
  • Suspicious Activity Report (SAR) requirements 

Presenter - Steve Gibbs, CUCE, BSACS

Steve Gibbs

Steve Gibbs, Risk Management & Compliance AVP of Credit Union Resources has over 35 years of experience in the financial industry, including service with three regulatory agencies. Gibbs holds certifications for CUNA’s Credit Union Compliance Expert (CUCE) and Bank Secrecy Act Compliance Specialist (BSACS). Prior to his position at Cornerstone Resources, he served as director of the Southwest CUNA Management School, director of Information Central, and lobbyist/legislative analyst at the Texas Credit Union League. He has conducted numerous trainings for trade and regulatory groups throughout the U.S. and in Puerto Rico. Gibbs has written numerous articles on risk management and compliance for credit union publications.


Cost

$70 per link for member credit unions

Cancellation Policy

All cancellations must be received in writing. Please provide a brief explanation for the cancellation and submit via email to training@cornerstoneleague.coop. Cancellations received more than 30 days prior to the event are subject to a 25% administrative fee on the order total. No refunds will be granted for cancellations received on or after 30 days prior to the event. Substitutions are accepted prior to the start of the program. Additional costs may apply. Please provide the event name, current participant name, and new participant name to training@cornerstoneleague.coop.

Cornerstone League reserves the right to cancel or reschedule the event due to unforeseen circumstances. If the conference is rescheduled to another date or modified (virtual or hybrid), your registration will automatically transfer. If the event is rescheduled or location is changed, and you are unable to attend, your fees will be refunded.

Grant Assistance

The Cornerstone Foundation is accepting grant applications for League training events based on financial need. Applications must be received by application deadlines. Please visit the Foundation’s website  to view all grant applications, guidelines, and deadlines. Contact Emily Moreno, Foundation Grants Manager, at 469-385-6483 for more information. 

 

Questions?

Call 800-442-5762 ext. 6630 or email us.