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Managing the Alert/Case Clearing Investigation Process – BSA/AML/OFAC Compliance

January 24 @ 1:30 pm - 2:30 pm UTC-5

Why Should You Attend:

The art and science of Alert/Case Investigation has matured along with other elements of BSA/AML/OFAC Compliance, spurred on by ever more stringent regulations and stricter adherence to the letter and spirit of the rules by examiners. As with many other of the elements of BSA Compliance, there is little official guidance. OFAC has provided some guidance as to how to clear and manage sanctions “hits.”

In this training session, we will explore the components of a loosely defined “industry practice” alert and case clearing methodology. What are the corresponding quality control issues and the importance of an alert/case management system? It will help you answer the listed below questions:

– What makes good investigation?
– What is enough to determine the difference between a false positive and true positive?
– What constitutes a practical and proper escalation process?
– Who decides when the case becomes a matter for filing?
– At what point do excessive numbers of false positives lead to revision of rules/scenarios thresholds?

Areas Covered in the Webinar:

– The industry standard for the investigation process.
– Alert and case clearing methodology.
– The quality control issues that can arise.
– The importance of an alert/case management system.
– Determining the difference between a false positive and a true positive.
– The escalation process – what is practical and proper and at what point you decide to file.
– Determining what might be excessive false positives for your institution and how to “fix” that.

Who Will Benefit:

– BSA/AML Officers
– Compliance Officers
– Chief Compliance Officers
– Sanctions Officers
– AML Analysts
– Risk Officers
– Chief Risk Officers
– Legal Departments
– Risk Managers
– CEO/Presidents
– Banks
– Broker-Dealers
– Money Services Businesses
– Other non-bank financial institutions

Instructor Profile:

John Reynolds is a former Bank regulator, having retired from the NY Fed as an examining officer in the financial institution supervision group. Mr. Reynolds started out his career as an assistant bank examiner in 1979 working up through the ranks and has been involved in all facets of bank examination work at international, large complex institutions, regional, and community institutions. From 2009 until his retirement in 2015, he played a leadership role in the NY Fed’s Compliance examination work, where he guided teams of examiners reviewing institutions’ compliance with AML-BSA and OFAC regulations and laws.

Mr. Reynolds holds a BS in accounting from Fordham University and an MBA in International Finance from New York University.


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