MAIN CONFERENCE DAY ONE
Wednesday, September 30, 2009
CONCURRENT SESSIONS
10:55 AM – 12:10 PM
SEMINAR
Focus on Training: Designing a Bank Training Program on a Limited Budget
Inadequate AML training continues to be cited as an area for improvement in internal and external audits as well as regulatory enforcement actions. As budgetary constraints make it more difficult to justify training expenses to management, are you sure you’re providing the right level of training for all employees? What is the best means of training diverse job functions on AML standards? How often should training be repeated or updated? This panel of experienced training developers teaches you how to create targeted, cost-effective instructional programs that enhance the quality of your overall AML training.
David Clark, CAMS
Head of Financial Crimes Intelligence and Analysis
Barclays WealthPeter Hazlewood
Managing Director, Group Legal, Compliance and Secretariat
DBS Group
WORKSHOP
Focus on Training: Improving Insurance Agent Training and Verification Techniques
Insurance companies continue to struggle to find an effective approach to AML training for field agents and brokers. A single standard has not emerged for the industry. What works best depends largely on your company’s business model. What approach should you take? How do you verify that your agents are adequately trained? How do you motivate producers to complete the training? Can you vary your training verification strategies for captive versus independent agents? Attend this workshop and take away best practices to build an effective agent training and verification program that meets regulatory standards and minimizes your exposure to risk.
Ann Teixeira
Assistant Vice President and Compliance Officer
Sun Life Financial
ROUNDTABLE
Optimizing Money Laundering Controls to Detect Tax Evasion
The onus for detection of tax evasion is quickly shifting to banks, brokerage houses and insurance companies. Penalties are no longer reserved for just the tax evader and can cripple institutions housing accounts used to conceal taxable funds. Join expert moderator Emmet Denham and a group of your peers as they share strategies for leveraging existing systems to detect possible tax evasion. Trade best practices and learn due diligence strategies to help uncover offshore tax avoidance schemes.
Moderator pending confirmation. Check back for updates.
ROUNDTABLE
Implementing and Maintaining an Effective Identity Theft Prevention Program
Under the Fair and Accurate Transactions (FACT) Act, financial entities are required to implement programs to comply with identity theft prevention rules. How do these rules coincide with AML/CFT regulations? Can your existing suspicious transaction monitoring systems also work to catch identity theft? Are you taking full advantage of common practices between your AML/CFT and identity theft prevention efforts? Join this heated discussion and walk away with practical solutions to ensure that your organization implements effective AML and identity theft programs.
Moderators:
Jeffrey Sklar, CAMS
Partner
Sklar, Heyman & Co.Saskia Rietbroek, CAMS
President
AML Services International
ROUNDTABLE
Managing the Money Laundering Risks Posed by Hedge Funds and Other Investment Vehicles
Proposals from the new U.S. administration suggest that regulatory restrictions for alternative investments are on the horizon. If these changes are enacted, what will this mean for those AML professionals with a limited understanding of hedge funds, as well as for hedge fund compliance professionals with limited exposure to mandatory AML compliance? This roundtable discussion will help you understand the mechanics as well as the potential risks of alternative investment vehicles. Plus, learn how to monitor and detect abuse within the complex transactions that are unique to hedge funds.
Moderator:
Meg Zucker
Executive Director, Global Anti-Money Laundering Group
Morgan Stanley
ROUNDTABLE
Regional Focus: Responding to Caribbean Money Laundering Challenges
Despite significant progress by Caribbean nations to strengthen AML controls, recent high-profile tax evasion and money laundering cases in the region could lead to greater scrutiny of financial entities by their global partners. In this session, engage in a discussion about the challenges you face, including maintaining correspondent relationships and doing business with financial institutions in the United States and abroad. Uncover practical solutions on dealing with multiple jurisdictional regulations and ensure you meet the standards from the jurisdictions you do business in.
Moderator:
Nancy J. Saur, CAMS
Regional Head of Compliance & Risk Management
ATC Trustees (Cayman) Ltd.
CONCURRENT SESSIONS
1:25 PM - 2:40 PM
SEMINAR
PANEL DISCUSSION: Deciphering the New BSA/AML Examination Manual for MSBs
The U.S. Treasury Department recently released a long-awaited regulatory exam manual to provide guidance for examining the BSA/AML programs of money services businesses (MSBs). Here is your chance to hear—directly from industry experts—what regulators expect from MSB AML programs. Take advantage of this opportunity to fine-tune your AML processes and reduce the risk of an unfavorable examination. Learn how to use the new manual to evaluate the quality of your current program (or that of your MSB clients) and ensure that it meets regulatory standards in order to avoid crippling financial penalties.
Michael R. McDonald, CAMS
Principal
Michael McDonald and AssociatesKiren Schulte
Senior Director, Anti-Money Laundering Compliance
MoneyGram InternationalJeffrey Sklar, CAMS
Partner
Sklar, Heyman & Company
WORKSHOP
Preventing Financial Crime through Top Quality Suspicious Activity Detection and Reporting
Many recent enforcement actions point to deficiencies in suspicious activity reporting and detection. Late or defensive filings, inadequate monitoring and poor quality reports are just some of the weaknesses commonly cited by regulators. In addition, institutions often waste valuable time and resources investigating false positives. If you don’t feel confident that your suspicious activity reporting program is reaching its full potential, you are not alone. How can you identify potential deficiencies to improve the quality of your program? This workshop provides strategies to assess your current program, identify problem areas, and improve processes and workflow in order to streamline staff and reduce the costs associated with transaction monitoring.
David Clark, CAMS
Head of Financial Crimes Intelligence and Analysis
Barclays WealthBryant Gofstein, CAMS
Director, AML Compliance – Financial Intelligence Unit
The Western Union Company
ROUNDTABLE
Regional Focus: Targeting Money Laundering and Terrorist Financing in Asia
An unfortunate by-product of Asia’s recent economic growth has been increased potential for money laundering, terrorist financing and fraud. Compounding this, many institutions in the region are still perfecting their KYC, CDD and transaction monitoring techniques against global benchmarks. Moderated by a regional expert, this peer-to-peer dialogue provides an overview of Asia’s current AML/CFT framework and includes detailed discussion of the latest money laundering and terrorist financing challenges emerging in the region. Gain a thorough understanding of emerging risk areas—and the steps you must take to protect your institution.
Moderator:
Peter Hazlewood
Managing Director- Group Legal, Compliance and Secretariat
DBS Group
ROUNDTABLE
Regional Focus: Combating Money Laundering and Terrorist Financing in the Middle East and North Africa (MENA)
Financial institutions in the MENA region often struggle to conduct proper due diligence on customers and employees uncomfortable with providing detailed information about themselves or the source of their funds. How can you adequately assess AML/CFT risks without complete customer data? What strategies can you employ to collect the necessary information? This roundtable assesses regional best practices to help you combat the risks posed by hawala, real estate, insurance and other financial vehicles within this cash-based economy.
Moderator: John F. Walsh
President and Chief Executive Officer
SightSpan
ROUNDTABLE
Complying with the Unlawful Internet Gambling Enforcement Act
Financial transaction providers are required to implement written policies for identifying and blocking transactions connected to illegal online gambling. When resources are scarce, how can you execute the enhanced due diligence the Unlawful Internet Gambling Enforcement Act requires? Join world renowned gaming law expert Joseph Kelly as he guides an intimate group of your peers on developing controls to screen and prevent the processing of illicit Internet gambling proceeds.
Moderator:
Joseph M. Kelly
Attorney
Catania & Associates LLC
ROUNDTABLE
Leveraging Process Improvement Tools to Enhance Transaction Monitoring
Quality assurance and process improvement programs are proven techniques to cut costs and streamline operations in every department of an organization. Learn how to optimize process flow charts, data mining, statistical sampling and predictive analytics. When you return to the office these tools can be immediately employed to optimize customer surveillance, reduce unproductive alerts and even lead to earlier warnings and detection than traditional transaction monitoring methods. Walk away with strategies to ensure multiple transaction monitoring systems work together more efficiently.
Workshop leaders pending confirmation. Check back for updates.
CONCURRENT SESSIONS
3:20 PM - 4:35 PM
SEMINAR
Streamlining Your PEP Management Strategies through Risk Assessments
Risk-ranking PEPs to better manage your compliance department’s priorities is a sound practice in any economic climate. This seminar provides step-by-step guidance to help you develop a global PEP risk-scoring model. Session leaders address common challenges that stem from rating and reviewing PEP transactions and offer best practices to centralize record-keeping and surveillance. Return to your office armed with tools to satisfy regulatory requirements and demonstrate the risk-based approach that your PEP accounts are governed by.
Alberto Avila, CAMS
Executive Director
COMLAFTDebra L. Bonosconi, CAMS
Senior Vice President of AML Compliance
HSBC Bank USARainer G. Hoerning, CAMS
Senior Compliance Officer and Vice President
Credit SuisseBarry Koch, CAMS
Managing Director and Associate General Counsel
JPMorgan Chase
WORKSHOP
Adopting Business Management Skills to Optimize Your AML Program
Successful AML decision-making can be facilitated using the same management skills and leadership capabilities that have driven other complex lines of business throughout history. An intimate understanding of budgeting, reporting, staffing, project and program management skills—once considered “nice to have”—is now absolutely necessary for your professional survival. Join this practical discussion of business management best practices and learn how you can apply these simple principles to build a more effective AML program.
John F. Walsh
President and Chief Executive Officer
SightSpan
ROUNDTABLE
Effectively Determining Beneficial Owners of Corporate Accounts
The global economic crisis has created public demand for more stringent oversight of financial institutions. Now more than ever it is imperative that your institution demonstrate its commitment to identify the parties behind trusts and shell companies. But how can this be achieved? Is it possible to pierce the veils of secrecy that corporations and trusts provide? How should you deal with accounts originating in jurisdictions where there is little transparency? What will new legislation on beneficial ownership mean to compliance professionals? In this workshop, hear proven strategies to monitor corporate accounts and learn best practices to mitigate your exposure to risk.
Moderator pending confirmation. Check back for updates.
ROUNDTABLE
Preparing for Changes to SWIFT Messaging Standards
As of November, 2009, SWIFT MT202 messages containing additional detail about the senders and recipients of wire transfers will become mandatory on all cross-border transactions. These changes—designed to achieve greater transparency and facilitate monitoring—also present a new set of challenges. How should you update your policies and systems to adequately prepare? Once the changes are enacted, how should you handle payments using the old message type? How can you ensure that your respondent banks use the correct message type? Join this discussion and learn how to prepare your institution for these complex new changes.
Moderator
Richard A. Small
Vice President, Enterprise-Wide and Sanctions Risk Management
American Express
ROUNDTABLE
Focus on Securities: Achieving Effective Customer Due Diligence
Customer due diligence requirements pose unique challenges for the securities industry. Unlike banks, you must look at customers’ risk independent of their transactions. The ability to distinguish between unusual and suspicious activities is frequently cited as a challenge, but can be overcome with a solid customer identification program. In this peer-to-peer discussion, learn what trading and account activity you should be looking for and what useful client information you can extract from unexpected sources within your organization. Discuss how to improve your KYC and due diligence processes through lessons learned from recent securities enforcement actions.
Moderators:
Katherine M. Sikora Nelson
Global Compliance - Anti-Money Laundering; Chair Broker-Dealer AML Oversight Committee
The Bank of New York MellonHolly D. Lias, CAMSHolly D. Lias, CAMS
AML Officer
TD Ameritrade z
AML Officer
TD Ameritrade
ROUNDTABLE
Conducting Effective Internal Audits and Independent Reviews
Ongoing internal audits and outside independent reviews allow you to identify potential flaws in your program and help prevent potential non-compliance before a regulator steps in. However, many institutions fail to employ review teams that examiners consider independent, and their affiliation is noted as a weakness. How can you avoid this potential violation during your next regulatory exam? In this roundtable, learn new strategies to assess your own compliance program, select an objective external review team, identify problem areas and rectify deficiencies—all before the examiners arrive.
Moderator:
Susan J. Galli, CAMS
Managing Director
Galli AML Advisory
