Training Course Syllabus:

Analyzing Implementation Concerns and Challenges of the CDD Final Rule Webinar

Objectives of the Presentation

Adapting current customer and beneficial ownership identification procedures to suit the Final Rule
Understanding the shifting relationship and the included participants in the changing regulatory world
On-boarding and customer relationship training in identifying and collecting relevant data
Developing robust oversight of beneficial ownership and CDD to improve client transparency
Formulating an integration plan for the new requirements and training relevant departments
Validating and testing the amended and developed procedures and addresses shortfalls and potential weaknesses

Why Should you Attend

Complying by the mandatory deadline with the U.S. Treasury´s Final Rule on Beneficial Ownership, effective May 11, 2018, is a top priority for financial institutions. The added CDD obligations in the final rules are a challenge to many compliance professionals who must begin collecting additional customer information and maintaining current account relationships. This essential webinar will provide up-to-date, critical compliance information to prepare your institution for the implementation of the CDD requirements.

Areas Covered

The new rule and obligations under it
Developing identifying procedures and policies for compliance with the amended rule
Exemptions to the new rule
How to integrate the new rule into existing procedures
Onboarding procedures and training
Data collection, validation and review
Validation and testing of the new rule

Seminar Summary:

The webinar covers the newly released rule relating to the identification and validation of the control and beneficial ownership of legal entities. The new rule expands the requirements of existing AML program by adding the ongoing requirement of control/ownership oversight in the institutions Customer Id Program. From now until its full implementation, May 2018, covered financial institutions are required to develop risk based approaches to ongoing monitoring and implementation of the parties that hold sway over a legal entity that has an account established with it. While there are times in which a third party may be relied upon for such information and monitoring, it is the covered institutions responsibility to identify with whom it does business. (see full course description)

print this agenda