Recognizing and Overcoming Pitfalls of Ineffective AML audits

Duration 60 Mins
Level Basic & Intermediate & Advanced
Webinar ID IQW19G0725

  • Implementing BSA audit  best practices
  • Assessing policies and procedures
  • Comprehensive Risk Assessments
  • Review of monitoring programs
  • Determining the effectiveness and thoroughness of training programs
  • Ensuring qualified employee oversight of daily BSA operations
  • Assessing Independent testing

Overview of the webinar

Although financial institutions have been managing BSA operations per the regulation requirements, the change in focus to BSA audits have been coming increasingly important. Regulators look to the Bank for assurance and evidence that BSA operations are being appropriately audited to ensure that BSA efforts are appropriately implemented and overseen. This session highlights BSA audit best practices that are being acknowledged and recognized by regulators and examiners. In this webinar, we will discuss the areas that regulators and examiners are primarily focusing on in regards to BSA audits. The areas of focus outlined in this webinar are based on best industry practices and supervisory experience.

Who should attend?

  • AML Officers
  • AML Personnel
  • Compliance Auditors
  • Beginner AML/BSA personnel
  • BSA Officers
  • BSA/AML auditors
  • Board members
  • Financial Institutions
  • AML Departments
  • Staff with Roles and Responsibilities in BSA/AMLMoney
  • Internal Auditors

Why should you attend?

The increased scrutiny of examiners and regulators regarding AML requires financial institutions to increase their oversight efforts. Non-compliance with AML requirements increases the risk exposure of financial institutions failing to protect consumers and themselves. As a result, financial institutions can experience negative implications affecting them both reputational and financially. AML continues to evolve, and it’s now more important than ever those financial institutions ensure they are implementing the appropriate tools to ensure they are compliant with Fair Lending rules and regulations. The Learning Objectives are:

  • Define what an AML audit is
  • Identify operations and activities that have AML implications
  • Tips and suggestions for an effective AML audit program
  • How to effectively audit AML activities
  • Maintaining AML compliance

Faculty - Dr.Gina J. Lowdermilk

Dr. Gina J. Lowdermilk, Ph.D. (ABD), CAMS, CRMS is a highly experienced and educated BSA/AML and financial regulatory compliance professional with extensive experience in policy and procedure development and implementation, training, internal audit, monitoring, risk management and reporting. Her emphasis has been working with financial institutions that are experiencing regulatory concerns and resolutions, including enforcement actions such as memorandums of understanding and cease and desist orders. Her 15 years of experience has given her the opportunity to work from small community banks to large, international financial institutions. Her roles not only included BSA/AML and compliance, but also operations, lending services, business development, marketing, management, department development, and asset quality.

Dr. Lowdermilk has worked with almost all financial regulators and examiners. She possesses advanced Microsoft Excel, PowerPoint, Word, Internet Explorer, Visio, and Access skills. She also has experience with FiServ, BAM, CRA Wiz, TeamMate, COGNOS and Metavante banking software. She has been responsible for creating both recurring and ad hoc executive management and board presentations. In addition to her above experience, she is also an adjunct instructor for the business and construction management programs at a local college, as well as writes numerous BSA/AML and compliance articles, training materials, and manuals for numerous clients.


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