download the 2011 brochure

Workshop A: AML Examinations of Insurance Companies

Level: intermediate/advanced

In the face of regulatory demands that have increased exponentially in the AML and CTF arena, insurance compliance professionals must master new knowledge and skills if their companies are to succeed in the BSA/AML examination process. Attend this in-depth workshop to enhance your understanding of the exam manual and gain critical insight into how the IRS approaches BSA/AML examinations. This hands-on workshop provides strategies, tools and tactics to help you prepare for and complete an IRS BSA/AML examination.

• Preparing for the examination process by reviewing each step and understanding what is required to be successful
• Differentiating between regulatory requirements and regulatory expectations
• Identifying baseline measures of insurance industry compliance

Moderator:

Ann B. Teixeira, Assistant Vice President and Anti-Money Laundering Compliance Officer, Sun Life Financial US

Speakers:

Laura J. Perlotto, CAMS, Assistant Vice President and Anti-Money Laundering Officer Law Department, Corporate Compliance, MassMutual Financial Group

Carol S. Stern, Acting Chief Compliance Officer, Insurance US, ING.

Workshop B: Effectively Leading an AML Project Management Team

Level: intermediate/advanced

Do your projects take years to complete? Do you have “one more thing” you have to do without knowing where to start? If so, you are like the rest of the industry, struggling to ensure timely completion of compliance-related projects and initiatives in the face of increasing regulatory scrutiny, budget constraints and a lack of resources to get the job done. Building on the popular session during the main conference, this in-depth workshop is designed to strengthen your effectiveness as a leader and manager of your firm’s AML program. This intensive training will help you:

• Understand and learn new tools and disciplines for effective program execution
• Review your organization’s AML operation to identify its strengths and vulnerabilities
• Identify and address risks within your AML processes and AML-related controls
• Implement new techniques to organize and strengthen your team to better manage each element of your operation
• Communicate effectively with the “Business” from an AML perspective

Attend this workshop to learn the essentials of project management, six sigma and lean tools and techniques applied to BSA/AML Compliance. Engage in practical exercises and review real examples.

Panelists:

Diana Deen, Executive Director, AML Compliance, JPMorgan Chase

Luke Ward, Compliance Manager, AML Compliance, JPMorgan Chase

Workshop C: Managing Enhanced Due Diligence in Emerging Markets

Level: intermediate/advanced

Despite worldwide economic turmoil, some emerging markets are booming and financial institutions are seizing opportunities in developing economies. But these markets present particular challenges for compliance professionals, including corruption, organized crime, terrorist finance and money laundering. Effectively managing those challenges starts with knowing who you’re dealing with: institutions need to fully understand the background of their international customers and how to rank the risk they present for money laundering as well as other financial crimes. This workshop presents guidance on how you can identify numerous due diligence weak spots, assess risk and prevent missteps.

• Understand and manage multiple types of correspondent banking relationships in order to protect your organization
• Establish processes to ensure correspondent banking clients meet internationally recognized standards
• Create beneficial ownership standards for dealing with emerging market entities

Panelists:

Thomas E. Nollner, Resident Advisor, Office of Technical Assistance

Carolyn E. Vick, Partner, iKYC

Workshop D: Focus on Securities: Best Practices for Optimizing Surveillance

Level: intermediate/advanced

Securities regulators are paying closer attention to broker-dealers’ AML operations, with a resultant jump in enforcement actions. In response, firms are struggling to evaluate their surveillance systems’ effectiveness. But even if your firm occasionally tests the efficacy of its AML monitoring systems, how can you be sure you’re looking at the right things? Actively managing AML data monitoring can reduce costs, save time, avoid regulatory remediation and improve assurance. But what benchmarks can you use to ensure your monitoring program has the correct focus? This practical workshop details emerging trends, as well as challenges, and offers solutions drawn from other firms that you can successfully deploy across business lines.

• Review surveillance challenges specific to your business lines: introducing brokers, operations, trading, fixed income and equity
• Engage in practical discussion about challenges, solutions and next steps to improve your firm’s program
• Learn best practices from a cross-section of firms with strong AML programs

Speaker:

Sterling D. Daines, Managing Director, Compliance Surveillance Strategy Group | Anti-Money Laundering, Goldman Sachs

Randi Rosen, Global Head of Legal and Compliance Technology, Morgan Stanley

CASE STUDY Workshop E: Proven Techniques to Fortify Your Internal Investigations

Level: intermediate/advanced

As more institutions appear in headlines, courtrooms and government offices, it is essential that you find and resolve violations within your institution before the government does. HSBC USA is just one example of several financial institutions recently hit with enormous penalties by the US Department of Justice for AML compliance violations. To protect your institution and assess your AML operation, you need excellent investigative abilities, and there is no better source to learn those skills than real money laundering cases. Understanding emerging global trends—how money moves and how to follow its trail—is an invaluable asset in your internal investigations. Illustrated by real-life examples, this workshop demonstrates essential case management techniques that will help you identify illicit funds and keep them from flowing through your institution.

• Review your institution’s AML program to assess deficiencies from a regulatory point of view
• Conduct more effective investigations to prevent the flow of illegal funds
• Analyze common denominators among most regulatory actions, such as HSBC USA, to benchmark your institution’s policies and procedures

Panelists:

David M. Schiffer, Founder and President, Safe Banking Systems, LLC

Kevin Sullivan, CAMS, Owner/Director, AML Training Academy

OPENING KEYNOTE ADDRESS

Cyrus R. Vance, Jr., Manhattan District Attorney, New York County District Attorney’s Office

KEYNOTE ADDRESS: A New Focus on Bank Integrity

Jennifer Shasky Calvery, Chief, Asset Forfeiture and Money Laundering Section, US Department of Justice

KEYNOTE PANEL: Compliance Goes Global: How International Best Practices Are Setting the Standard for Your Institution

US, British and Canadian regulators, to name just three, often incorporate best practice standards from the Egmont Group, MONEYVAL, Wolfsberg and the Financial Action Task Force (FATF). But are the guidelines from the FATF and other non-governmental organizations advancing or hindering national and international anti-money laundering efforts? What are the benefits and challenges of implementing international standards? Which regions have struggled and why? Are international best practices creating a consensus on not only AML, but also with regard to sanctions, bribery and tax evasion issues? Several FATF-Style Regional Bodies share their insight on how this process is managed, new initiatives in their respective regions and how they collaborate with FATF and each other.

• Understanding how international standards affect regulators’ evaluations of your compliance regime
• Identifying global best practices to enhance your financial crime controls
• Evaluating the implications of international efforts to identify and deal with non-compliant nations, including Iran and North Korea

Moderator:

Kieran Beer, Editor-in-Chief, MoneyLaundering.com and ComplianceAdvantage.com

Panelists:

Don Carbaugh, Senior Vice President, Compliance Managing Director, Corporate AML Compliance, AML Risk Management, JPMorgan Chase, a member of The Wolfsberg Group

Lindsay Chan, Principal Executive Officer, Asia/Pacific Group on Money Laundering Secretariat

Chip Poncy, Director, Office of Strategic Policy for Terrorist Financing and Financial Crimes, US Department of the Treasury

John Ringguth, Executive Secretary, MONEYVAL Council of Europe

The Criminalization of Compliance Failure: Examining the Impact of the Movement toward Prosecuting Financial Institution Executives 

In at least three high-profile cases, Federal judges questioned prosecutors and regulators about agreements reached with financial institutions to settle violations. Why were none of the executives of the institutions prosecuted or even personally fined? the judges asked. They aren’t alone: a slew of op-ed pieces and articles have also called for punishment of individuals associated with failed compliance regimes.  In this groundbreaking discussion, panelists debate the fairness, efficacy and practicalities of prosecuting individuals implicated in the compliance failures of financial institutions. Don’t miss this panel of experts as they weigh in on how the call to hold bankers responsible could quickly make violations both more expensive and perilous for executives. 

• Understanding the impetus behind the cries for criminalization
• Quantifying the degree of  personal liability facing your institutions’ officers and staff
• Analyzing compliance strategies and lessons learned from actual cases to help your institution and its executives avoid prosecution

Moderator:

Kieran Beer, Editor-in-Chief, MoneyLaundering.com and ComplianceAdvantage.com

Panelists:

Andrew C. Hruska, Partner, King & Spalding

Adam S. Kaufmann, Assistant District Attorney and Chief of Investigations, Division Central, New York County District Attorney’s Office

Evan S. Weitz, Assistant United States Attorney, Eastern District of New York

Putting Regulations in Perspective: US Regulators Share What Financial Institutions Need to Know in 2011 and Beyond

Regulators and law enforcement officials continue to set records for the size of monetary penalties levied for Bank Secrecy Act violations, including the largest ever for AML, sanctions and tax evasion violations—the $160M Wachovia deferred prosecution agreement. In the midst of rising regulatory vigilance and radical financial reform, hear the regulators share what they’re most concerned about in 2011. Learn what to expect from your examiners and what your compliance priorities should be for the coming year and beyond. And get answers to the questions that matter most to your institution.

• Discovering where your institution’s compliance focus should be in 2011 and beyond
• Gaining insight into the details of recent enforcement actions
• Picking up key intelligence to relate to your executive board regarding regulatory priorities

Moderator:

John J. Byrne, CAMS, Executive Vice President, Association of Certified Anti-Money Laundering Specialists (ACAMS)

Panelists:

Debra L. Novak, Chief, AML Section, Federal Deposit Insurance Corporation

John Wagner, Director, Bank Secrecy Act/Anti-Money Laundering Compliance, Office of the Comptroller of the Currency

Suzanne Williams, Manager, Compliance Section, Bank Supervision and Regulation, Board of Governors of the Federal Reserve System

Engineering an AML Strategy to Address the US/Mexico Overhaul of Money Laundering Regulations

Tough new anti-money laundering laws in Mexico present complex challenges for financial institutions throughout the world–particularly for those in the US and Latin America as strict cash deposit limits in Mexico will likely create a new effort to place money in US and Central Amercian banks. In this unprecedented dialog, hear panelists detail the scope, impact, strengths and weaknesses of Mexico’s new regulations and learn how you can stay one step ahead of criminals as they adapt to the new requirements. Panelists will also examine the impact of FinCEN’s Cross-Border Electronic Transmittal of Funds proposal and how it will affect Mexican fund transfers.

• Identifying Mexican drug proceeds before they flow into your institution from Mexico and beyond
• Examining the Mexican government’s AML measures and the changes required within your compliance program
• Insight into the impact of FinCEN’s new cross-border regulations on your interactions with Mexican financial institutions

Moderator:

Hector X. Colon, Unit Chief, Illicit Finance and Proceeds of Crime Unit, Financial, Narcotics & Special Operations Division, Homeland Security Investigations

Panelists:

John Arvanitis, Chief of Financial Operations, Drug Enforcement Administration

Joseph Cachey III, Chief Compliance Officer and Associate General Counsel, The Western Union Company

Duncan Deville, Senior Associate, AML/CTF lead, Booz Allen Hamilton and Adjunct Professor of Law, Georgetown University

Ron P. King, CAMS, Vice President and Chief Anti-Money Laundering Officer, Scotiabank

Understanding International Tax Evasion and How to Detect it Across Jurisdictions

The recent backlash from high-profile tax evasion cases has ignited a global movement to crack down on tax havens and aggressively pursue tax enforcement across jurisdictions. Recent developments include:

• Enactment of the Foreign Account Tax Compliance Act (FATCA), signed into law by President Obama in 2010, which places new withholding burdens on banks.
• The opening of IRS Criminal Investigations Division offices outside the US and the pursuit of tax cheats by the Department of Justice.
• Discussion about the creation of global anti-tax evasion best practices by the Financial Action Task Force. 

How will these efforts and those of other governments and NGOs add to your compliance obligations? Attend this session to find out what your institution needs to know.

Panelists:

Lester Joseph, International Investigations Manager, Wells Fargo

Scott D. Michel, President, Caplin & Drysdale

Rick Raven, Deputy Chief, Criminal Investigation, Internal Revenue Service

Charles P. Rettig, Esq., Hochman, Salkin, Rettig, Toscher & Perez, P.C.

CASE STUDY Human Trafficking and Smuggling: Its Impact on Financial Institutions and Law Enforcement

Human trafficking is the second largest illicit business in the world, after drug trafficking, but there are very few people following the money laundering related to this business. It is modern day slavery: human beings are abducted and “sold” for the purposes of sexual exploitation, forced labor, or debt bondage. Traffickers often transport individuals from their home countries to unfamiliar destinations, often leaving them defenseless and vulnerable. Trafficking in persons is a crime and a violation of human rights. Traffickers and smugglers, like all criminal enterprises, need to utilize the financial system to launder their profits and conduct their operations.  But compliance officers mandated to understand the risks of doing business in regions where human trafficking is high are often unequipped with the regional intelligence to do so. This compelling presentation features representatives of law enforcement and others who work with victims of these horrific crimes, and includes case studies and a practical discussion of the issues and their potential impact on financial institutions.

• Hear common ways human traffickers launder dirty money through financial institutions, MSBs and postal services
• Understand the monumental challenges financial institutions face in assessing new clients in regions where human trafficking is prevalent
• Identify red flags tied to human trafficking and integrate into your AML controls

Moderator:

David B. Chenkin, Esq., Partner, Zeichner Ellman & Krause LLP

Panelists:

Arthur D. Middlemiss, Executive Director, JPMorgan Chase

Keeli Sorensen, Director, Training and Advocacy, Anti-Trafficking Program, Safe Horizon

Daniel Wager, Director, New York HIFCA

Aligning Your AML Operation with the Financial Intelligence Unit: Creating Enterprise-Wide Value

Many financial institutions—both large and small--are re-thinking their broad strategies for compliance programs as a means to streamline other organizational functions. Using data collected for anti-money laundering purposes, for example, can be helpful to other departments.  One strategic partnership is the AML operation and the Financial Intelligence Unit (FIU) because both units provide valuable assistance to law enforcement and regulators while keeping the institution from harm’s way. In this session, experts will provide an overview of the functions an FIU can provide, how to align an FIU with the various businesses in the enterprise and offer a detailed roadmap to organize and staff an FIU.

• Exploring the benefits and functions an FIU brings to an institution
• Reviewing a detailed roadmap to organize and staff an FIU in both small and large institutions
• Understanding strategies and procedures to align the FIU with other businesses units

Moderator:

Richard A. Small, Vice President, Enterprise Wide Anti-Money Laundering and Sanctions Risk Management, American Express

Panelists:

Steven Beattie, Anti-Money Laundering Services Leader, Ernst & Young LLP

John Kancans, Global AML Leader, GE Capital

Aaron S. Karczmer, Vice President, Financial Intelligence Unit Enterprise Surveillance, Investigations & Technology, American Express

Dan Soto, Chief Compliance Officer, Ally

The US Kleptocracy Asset Recovery Initiative: Combating Large-Scale Foreign Corruption through a New Standard of Transparency

The World Bank estimates that as much as one trillion dollars in bribes and corrupt practices is spent each year. To end safe havens for this money and the people who pay or take bribes, the US Department of Justice launched a Kleptocracy Asset Recovery Initiative in July 2010. Aimed at combating large-scale foreign official corruption and recovering stolen funds and the proceeds of corruption, the Justice Department initiative echoes efforts by the World Bank, the UNODC Stolen Asset Recovery Initiative and the thrust of the United Kingdom Bribery Act of 2010. This intensive discussion outlines those international efforts to identify, trace and recover the proceeds of corruption and details how those efforta may radically change how your  institution conducts business.

• Understanding how kleptocracies operate and which countries will be targeted in the initiative
• Analyzing the outcome of recent cases brought against sitting officials
• Evaluating the impact of this pandemic on correspondent banking relationships and the securities sector

Moderator:

Brian Orsak, Managing Editor, MoneyLaundering.com and ComplianceAdvantage.com

Panelists:

Daniel H. Claman, Assistant Chief, Asset Forfeiture and Money Laundering Section, US Department of Justice

Theodore S. Greenberg, TG Global

Fine-Tuning AML Transaction Monitoring: Alternative Monitoring Strategies

As regulatory expectations for transaction monitoring continue to increase, firms are expected to develop and maintain more sophisticated systems tailored to their products and customer base. In this interactive panel, expert presenters outline the latest techniques being employed to increase the effectiveness and efficiency of existing monitoring systems. Panelists will also discuss ew strategies for creating monitoring programs that react quickly to emerging risks while providing continued coverage of the basic elements of suspicious activity.  Attendees will learn about the drivers behind new monitoring strategies and how they translate into more efficient processes.

• Identifying the skill set required for effective management of monitoring systems
• Adopting a typology-driven approach to augment your existing system
• Translating significant investigations into sustainable monitoring rules

Moderator:

Steven Beattie, Anti-Money Laundering Services Leader, Ernst & Young LLP

Panelists:

William J. Fox, Senior Vice President, Global Anti-Money Laundering and Economic Sanctions Executive, Bank Of America

Richard Hogeveen, CA, CPA, Global Compliance, Chief Anti-Money Laundering Officer, Manulife Financial

David Jeffries, Senior Vice President, Compliance Director, Corporate AML Compliance, JPMorgan Chase Bank NA

Designing a Comprehensive Compliance Program to Oversee Bribery and Corruption, AML/CTF and Sanctions

Bribery and corruption have become a huge priority for law enforcement and regulators—and a source of enormous potential liability for both US- and foreign-based financial institutions.  Along with global sanctions, money laundering and terrorist financing, FCPA and the UK Anti-Bribery Law arguably pose the most significant risk to the future of your financial institution.  Hear panelists discuss recent enforcement initiatives and how your existing AML/CTF and sanctions infrastructure can be leveraged to create an all-inclusive compliance regime. The discussion also elucidates your obligations regarding the UK Anti-Bribery Law, OECD initiatives, PEP screening and addresses foreign corruption as predicates for money laundering.

• Adopting lessons learned from recent FCPA enforcement actions
• Determining your obligations under the UK Bribery Act and recent OECD initiatives
• Leveraging PEP screening to detect and prevent the proceeds of foreign corruption from entering your institution

Moderator:

Stephen J. Shine, Senior Vice President, Prudential Financial

Panelists:

David Clark, CAMS, Head of Financial Crime Intelligence & Analysis, Barclays Wealth

Cassie Lentchner, Executive Director, UBS Investment Bank

Perennial Issues: The Impact of Risk Rating on Your Compliance Program

Since 2008, federal regulators have taken compliance professionals to task for how they differentiate their low-, moderate- and high-risk clients even though there is no clear definition of these categories. And, the heightened attention on risk ranking has also brought additional pressure on compliance staffers to recast certain clients as high-risk and left them uncertain about how to identify moderate- versus high-risk accounts.

Do you understand all of the implications of customer risk-ranking on your institution’s compliance responsibilities? What is a reasonable timeframe in which to update the settings of your automated transaction monitoring systems? Why are regulators taking a tough stance?  What can your institution do to respond?

• Understanding risk ranking and the key attributes for defining low-, moderate- and high-risk customers
• Effectively updating your transaction monitoring system to accommodate new definitions of risk
• Creating a solid strategy to  develop and justify subjective ranking criteria

Moderator:

Teresa A. Pesce, Principal, KPMG

Panelists:

John Kancans, Global AML Leader, GE Capital

Michael Kelsey, Global AML Compliance Officer, TD Bank

Ron P. King, CAMS, Vice President and Chief Anti-Money Laundering Officer, Scotiabank

John Wagner, Director, Bank Secrecy Act/Anti-Money Laundering Compliance, Office of the Comptroller of the Currency

Perennial Issues: Leveraging Best Practices in CDD and EDD to Accurately Identify Beneficial Ownership

International sanctions, corruption, fraud, FCPA and counter-terrorism initiatives require greater emphasis on Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD), especially in the areas of beneficial ownership of legal entities and the identification of a PEP’s close associates. Failure to “know your customer” can result in high fines, criminal prosecution and reputational damage to your institution. The widespread adoption of risk-based approaches, and increased scrutiny by FATF and other regulatory bodies—as well as the G-20—requires diligence in identifying the risks and taking steps to mitigate them.

• Piercing the corporate veil: adopting best practices in obtaining beneficial ownership information
• Establishing a protocol regarding information reporting, storage and sharing
• Determining the optimum levels of ongoing due diligence to protect your organization

Moderator:

Theodore S. Greenberg, TG Global

Panelists:

Karim Rajwani, Vice President and Chief Anti-Money Laundering Officer, RBC Financial Group

Rick Raven, Deputy Chief, Criminal Investigation, Internal Revenue Service

Emile van der Does de Willebois, Senior Financial Sector Specialist, Financial Market Integrity, The World Bank

Carolyn E. Vick, Partner, iKYC

Leveraging Technology to Optimize Synergy among Fraud and AML Departments

Protecting your institution from money launderers and fraudsters in an era of limited resources requires leveraging technology to create synergies between AML and fraud departments. The right technology is not only essential to the success of your transaction monitoring program, SAR reporting and CDD, it facilitates communication between compliance, fraud, and AML professionals at your institution. Attendees will learn how to prevent duplicating information sent to regulators and how to raise the percentage of their true positive transaction alerts. Attendees will also hear how AML and fraud departments can be structured for effective communication and strategies to watch parallel data flow.

• Utilizing existing technology to gain insight into customer data to prevent money laundering
• Cross-training your compliance staff to take advantage of the unique skill sets within AML and fraud departments
• Combining common processes to increase the scope and effectiveness of your compliance efforts

Moderator:

Karim Rajwani, Vice President and Chief Anti-Money Laundering Officer, RBC Financial Group

Panelists:

Darren Donovan, Principal, KPMG Forensic

Thomas Obermaier, Chief Executive Officer, RDC

Brian Stoeckert, CAMS, CFE, Associate, Financial Crimes, Booz Allen Hamilton

CASE STUDY Money Laundering in Mexico: Implications for US Banks

This session will review the results of a six-month US/Mexican government study of the flow of bulk cash from the US to Mexico and its subsequent laundering in Mexico. Attendees will learn the money laundering typologies, including: operaciones preocupantes (intra-account transfers); beneficiarios communes (common beneficiaries); and uso de identidad (user identity). This session will also examine the impact of Chinese trade-based money laundering, partnerships with Russian organized crime groups and beneficial ownership disclosure.

• Understand which types of funds are laundered in Mexico, which aren’t, and why
• Become familiar with detailed money laundering typologies commonly used in Mexico
• Adopt key AML controls to avoid laundering funds from Mexican cartels

Moderator:

Brian Orsak, Managing Editor, MoneyLaundering.com and ComplianceAdvantage.com

Panelists:

John Arvanitis, Chief of Financial Operations, Drug Enforcement Administration

Duncan Deville, Senior Associate, AML/CTF Lead, Booz Allen Hamilton and Adjunct Professor of Law, Georgetown University

Guillermo Horta, Senior Vice President, Global AML & Economic Sanctions, Bank of America Merrill Lynch

Kevin M. Tyrrell, Section Chief, Illicit Finance and Proceeds of Crime Unit, US Immigration and Customs Enforcement and Homeland Security Investigations

CASE STUDY Mitigating the Money Laundering Threat from Organized Crime

International organized crime is undermining competition in key global markets and confidence in the global financial system, according to a US Government National Intelligence Estimate (NIE) on International Organized Crime (IOC) released in 2010. The increasing penetration of legitimate financial and commercial markets raises the risk of significantly damaging the global financial system, the report concludes. In this panel, experts explore the threats outlined in the NIE using illustrative money laundering cases, discuss the use of shell companies by IOC to launder money and examine recent US Government responses.

• Learning from recent ML cases of threats to the financial system posed by international organized crime
• Hearing recent US government initiatives to combat the threats posed by international organized crime
• Reviewing steps to protect your institution from the threat of international organized crime

Moderator:

Moyara Ruehsen, PhD, CAMS, Professor, Graduate School of International Policy and Management, Monterey Institute

Panelists:

Jennifer Shasky Calvery, Chief, Asset Forfeiture and Money Laundering Section, US Department of Justice

Lisa Holtyn, Senior Intelligence Advisor, Organized Crime and Racketeering Section, Criminal Division, US Department of Justice

Examining the Impact of New Prepaid Access Legislation on the Global Marketplace

The Financial Crimes Enforcement Network’s (FinCEN) long-awaited proposed regulations for the prepaid card industry address regulatory gaps that allowed prepaid products to be used to launder money. The proposed rules have also raised questions about how institutions will actually monitor prepaid access products, how regulators will enforce the rules and what institutions are affected by them. The rules place a big reporting and recordkeeping burden on prepaid access servicers and retailers. And, in comment letters to FinCEN, banks say they also expect to assume additional AML responsibilities. Speakers will clarify the new rules and discuss their impact on banks and MSBs. Be in the room as they detail gaps and unanswered questions and provide you with strategies to help your institution comply.

• Evaluating the parameters of the proposed amendment and the challenges of enforcing prepaid rules
• Determining which prepaid access products are affected and which are exempt
• Preparing for the impact of new businesses being required to register as MSBs and assume AML reporting

Moderator:

Edward Rodriguez, CAMS, Principal, EORS Consulting LLC

Panelists:

Thomas J. Firnhaber, CAMS, Chief Compliance Officer, netSpend Corporation

Deborah M. Morrisey, Group Supervisor, US Immigration and Customs Enforcement, Miami

Anthony Luis Rodriguez, CPA, CAMS, Chief Global Compliance Officer, RIA Financial Services

Cyber Security and the AML Professional: Understanding Real Threats to Your Institution

The Internet has allowed financial institutions to provide new services to their customers, but has also created myriad challenges including “computer intrusion” by hackers. Reporting those intrusions falls to AML professionals. Panelists will discuss examples of what is currently being reported from their institutions and offer hacker typologies. The panel will also address how “computer intrusion” should be handled, how it relates to enterprise-wide risk and how it relates to your SAR program.

• Assessing your institution’s vulnerability to cyber attacks and your role in preventing “computer intrusion”
• Mitigating the security threat posed by criminal hackers seeking to shut down your institution’s data networks
• Fortifying your internal resources to bolster response and recovery capabilities

Moderator:

John J. Byrne, CAMS, Executive Vice President, Association of Certified Anti-Money Laundering Specialists

Panelists:

Scott Dueweke, Senior Associate, Virtual Identity Management, Booz Allen Hamilton

Pamela J. Johnson, Global Head of Anti-Money Laundering, Citi

Tom Kellermann, CISM, Vice President of Security Awareness, Core Security Technologies

CASE STUDY Analyzing Real-Life Case Studies: Would You Bank This Individual or Company?

This session provides a series of fraud and terrorist financing case studies. Speakers will review actual customer on-boarding processes within US-based depository and non-depository institutions.  And, while in most instances a financial institution may have been justified in establishing a banking relationship with a customer, the case studies will also identify red flags that signal a need to reevaluate that banking relationship. How a financial institution should monitor for the red flags and handle the changes are among the questions the panel will address. Attendees will also gain tools to aid in the decision-making process necessary to file a SAR and learn what responses they can expect from law enforcement agencies.

• Developing an adequate due diligence and risk recognition process to minimize your institution’s exposure
• Identifying red flags and unreasonable patterns of activity through CDD, risk recognition and monitoring
• Reporting the critical evidence necessary for law enforcement to sustain a successful criminal prosecution

Moderator:

Dennis M. Lormel, Founder and President, DML Associates, LLC

Panelists:

Meryl Lutsky, Chief, Money Laundering Investigations Unit, New York State Crime Proceeds Strike Force, New York Attorney General’s Office

Ira Morales Mickunas, CAMS, Managing Director, Milersen LLC

Thomas E. Nollner, CAMS, CFE, Resident Advisor, Office of Technical Assistance, US Treasury Department

CASE STUDY SAR Analysis: How Law Enforcement Utilizes the Crucial Information You Report

Financial institutions can file thousands of SARs or STRs each month to prompt investigations into money launderers, terrorists, and fraudsters. Compliance departments spend a significant amount of time and effort compiling thorough information to include in reports. Learning how law enforcement agencies use the information in your SAR filings can help you be more effective in creating detailed narratives. In this session, law enforcement officials highlight successful cases where investigations started with information provided in a SAR. 

• Selecting the most useful and relevant information to include in a SAR
• Gaining insight into the decision-making process law enforcement agents and regulators use to prioritize their investigations
• Leveraging the latest intelligence and law enforcement feedback to improve the usefulness of your SAR narratives 

Moderator:

Meg R. Zucker, Executive Director, Global Anti-Money Laundering Group, Morgan Stanley

Panelists:

Dennis M. Lormel, Founder and President, DML Associates, LLC

Daniel Wager, Director, New York HIFCA

Richard Weber, Deputy Chief, Investigation Division Chief, Major Economic Crimes Bureau, New York County District Attorney's Office

Evan S. Weitz, Assistant United States Attorney, Eastern District of New York

CASE STUDY Best Practices for Building a Cross-Functional AML Program in a Small Institution

Building an integrated, risk-based AML compliance program with sustainable, cost-effective processes is a daily challenge for many compliance heads in smaller institutions. The two biggest challenges tend to be budget constraints and limited staff resources.  AML heads at most small institutions wear many hats and assume cross-functional responsibilities like managing IT staff. And with heightened scrutiny by regulators, how can competing responsibilities be managed? Attend this session to find practical tools and proven strategies to build a robust program within your small institution.

• Seamlessly managing all facets of AML/CTF, sanctions and financial crime compliance
• Discovering innovative quality control systems for SAR filing
• Examining techniques for maintaining effective AML controls without software

Moderator:

Larissa Bernardes, Web Editor, MoneyLaundering.com and ComplianceAdvantage.com

Panelists:

Judy Graham, Program Officer, Division of Supervision, Office of Examination and Insurance, National Credit Union Administration

Meryl Lutsky, Chief, Money Laundering Investigations Unit, New York State Crime Proceeds Strike Force, New York Attorney General’s Office

Jody Schmidt, Senior Vice President and Corporate Risk Officer, Federal Trust Bank

Overcoming IT Challenges: Adopting Automated Systems to Manage Reporting, Audits and Exam Results

For many AML departments in small and mid-tier institutions, elaborate AML software is a luxury. And because the technology can often be too expensive to purchase and implement, many firms are forced to do without. How can a robust compliance program be achieved, especially with greater demands from regulators who are scrutinizing not only your compliance policies and procedures, but also your software solutions? AML compliance officers in smaller institutions will share alternatives for transaction monitoring, watch list filtering, and filing SARs and other regulatory reports. Attend this targeted session to learn what tools and techniques others are using effectively, and how new approaches to compliance can be successfully adopted without sacrificing effectiveness.

• Assessing the effectiveness of common workflow and case management tools
• Selecting and implementing automated systems that provide a detailed audit trail for regulators and law enforcement
• Maintaining an internal commitment to developing new rules and scenarios as they emerge

Moderator:

Brian Stoeckert, CAMS, CFE, Associate, Financial Crimes, Booz Allen Hamilton

Panelists:

Emily J. Borowski, CAMS, Director of Risk Assessment, Notre Dame Federal Credit Union

Brigitte Lowe, National Bank Examiner and Compliance Specialist, Compliance Policy Division, Office of the Comptroller of the Currency

Chuck Taylor, CAMS, Senior Vice President & BSA Officer, Compliance Department, BSA Group, City National Ban

Managing a Sanctions Program in a Small Institution

Community banks and credit unions are expected to follow OFAC sanctions regulations just like their larger bank counterparts. In reality, how many high-risk clients pose real sanctions risks to small institutions, especially those harboring or participating in terrorism or drug trafficking? With limited staff and resources, your AML programs must employ enhanced due diligence controls, maintain the SDN list, and implement precautionary controls in your systems to remain compliant. Attend this session to discover how you can develop policies and procedures within your institution to comply with the OFAC regulations by integrating modified processes into your current application process, or maintaining sanctions as a separate process.

• Understanding how OFAC sanctions guidelines are applied to financial institutions
• Defining the scope of compliance obligations for community banks and credit unions
• Devising strategies to work more closely with government to ensure that sanctions programs are workable and capable of achieving their stated objectives

Speaker:

Timothy White, CAMS, National Risk Specialist, BSA-OFAC, Banker’s Toolbox

CASE STUDY Effectively Leading an AML Project Management Team

Designed to strengthen your effectiveness as a leader and manager of your firm’s AML Program, attendees will have the opportunity to understand and learn new tools and disciplines for effective program execution. Attend this session to learn the essentials of project management, six sigma and lean tools and techniques applied to BSA/AML Compliance.

• Reviewing your organization’s AML operation to identify its strengths and vulnerabilities
• Identifying and addressing risks within your AML processes and AML-related controls

• Implementing new techniques to organize and strengthen your team to better manage each element of your operation

Speakers:

Diana Deen, Executive Director, AML Compliance, JPMorgan Chase

Luke Ward, CAMS, Vice President, AML Compliance, JPMorgan Chase

CASE STUDY Leveraging Social Media to Deliver AML Compliance Training

Social media is here to stay and is quickly being integrated into many aspects of your personal and professional life. What about using it to make you a more effective compliance executive? Whether using external (LinkedIn or Facebook) or internal (Yammer or Lotus Connections) social media, you can leverage these tools to increase efficiency, share ideas more quickly and deliver more effective training. This session is designed to enhance your understanding of social media tools and illustrate how you can easily leverage them for both personal development and to support your compliance efforts. Join social media experts as they walk you through the most relevant social media tools and provide detailed examples of how they can be used to improve the compliance function of your organization.

• Evaluating the effectiveness of popular social networking tools to actively train compliance professionals
• Utilizing your existing intranet to network, research and share key information across job functions and geography
• Integrating social media into existing information sharing processes

Speaker:

Brian L. Mannion, Lead Counsel, Office of the Chief Legal and Governance Officer, Nationwide Mutual Insurance Company

Focus on BSA/AML Training for Small Institutions

Compliance officers face a number of challenges to meet regulatory requirements and maintain robust programs. Is your staff performing their jobs in compliance with the BSA/AML/OFAC laws and regulations? Can you demonstrate to the examiners that your institution has completed thorough training, testing and tracking? This interactive session will allow you to assess your organization’s training procedures, provide you with ideas to streamline processes to make your team more effective, and offer suggestions to get buy-in and support from your board of directors.

• Reviewing your training procedures for new staff and to assess your team’s understanding of BSA/AML laws
• Refreshing your knowledge of the core pillars of BSA/AML to ensure your bank’s policies and procedures are in alignment with laws
• Cross-training staff to ensure efficient recordkeeping and reporting

Moderator:

Susan Galli, CAMS, Director of AML Programs, HSBC

Panelists:

Lynne Federman, Chief Compliance Executive and a Senior Vice President for North America, Banco Espirito Santo

Judy Graham, Program Officer, Division of Supervision, Office of Examination and Insurance, National Credit Union Administration

Chuck Taylor, CAMS, Senior Vice President & BSA Officer, Compliance Department, BSA Group, City National Ban

The MSB Examination Manual: Understanding the Impact of Multi-State Compliance Initiatives on Your Organization

In December 2008, FinCEN released the first Bank Secrecy Act/Anti-Money Laundering Examination Manual for Money Services Businesses. The purpose of the Manual was to provide guidance to regulators that examine MSBs and improve the consistency of enforcing BSA requirements. In this panel, speakers from key federal and state regulatory agencies discuss how the Manual has changed MSB exams, the difference between exams of principle MSBs versus their agents and how the regulatory agencies collaborate. Don’t miss this opportunity to hear best practices, gain insight on the latest FinCEN updates, and engage with key state regulators.

• Anticipating regulatory expectations and understanding examination protocol
• Identifying the keys to a successful exam and taking steps now to avoid problems
• Developing a post-exam strategy to address violations

Moderator:

Kiren M. Schulte, Senior Director, Compliance, Best Buy Financial Services

Panelists:

John K. Bishop, CAMS, Director of MTRA, Senior Administrator, Ohio Division of Financial Institutions

Joseph Cachey III, Chief Compliance Officer and Associate General Counsel, The Western Union Company

Overcoming AML Regulatory Challenges in Securities Firms

Securities firms struggle with a host of AML issues specific to their industry. Unlike banks, securities regulators do not publish and AML Examination Manual. Rule-making and guidance are communicated through enforcement actions— both the SEC and FINRA announce their regulatory expectations through enforcement actions. The expectations are not always consistent and vary by case. With the large number of AML-related enforcement actions by both FINRA and the SEC, how can firms set a standard for their programs? Other challenges in the industry include implementation of FinCEN’s 2010 beneficial ownership guidance and FINRA and the SEC’s scrutiny of micro cap stock deposits. Panelists will also discuss global obstacles, including the conflicting laws between foreign introducing firms and US clearing firms, and the increased scrutiny and fines from non-US regulators.

• Implementing local compliance into your overall global AML program
• Identifying key areas regulators are focusing on in their examinations
• Establishing a framework to train broker-dealers across your institution’s enterprise

Moderator:

John Davidson, Global Head of Anti-Money Laundering, E*TRADE Financial

Panelists:

Alistair E. Johnson, Senior Regulatory Specialist, FINRA

Jeffrey Weiss, Managing Director, Knight Equity Markets

Meg R. Zucker, Executive Director, Global Anti-Money Laundering Group, Morgan Stanley

Securities Focus: Creating an Enterprise-Wide Program to Integrate Fraud, AML and Tax Compliance

From a global and legal viewpoint, there are great opportunities in securities firms to build a whole compliance enterprise rather than managing each component separately. An enterprise-wide program allows for the sharing of CIP and CDD information as well as the prevention of duplication in SAR reporting and other risk-relevant information gathering. This kind of program can be more efficient because it’s tailored to the identified risks of the firm. Integrating AML controls across the enterprise, however, is a real challenge. Attend this session to understand the requirements and resources securities firms need to implement and maintain and enterprise-wide AML program.

• Tapping into traditional and non-traditional AML tools and resources that can be leveraged across functions
• Understanding the benefits and challenges of rolling out an enterprise-wide program, including the impact on other areas within the institution
• Reviewing strategies for successful risk reporting and managing regulatory relationships

Speakers:

Vasilios P Chrisos, Americas AML and Economic Sanctions Director | Macquarie Compliance, Macquarie Group

Sterling D. Daines, Managing Director, Compliance Surveillance Strategy Group | Anti-Money Laundering, Goldman Sachs

MSB Regulatory Update: Impact of the Federal Financial Reform Bill

Imbedded as part of the 2,000 or so pages of the landmark federal financial reform legislation enacted in 2010, are nine pages of legislative mandates relating to foreign remittances for implementation by the new Consumer Financial Protection Bureau–-a free-standing organization to be housed at the Federal Reserve. These legislative directives, now codified at section 919 of the Electronic Funds Transfer Act, relate to consumer disclosures concerning remittances to foreign countries and, depending upon how they are implemented, may have significant impact on how MSBs deal with their customers. Attend this session to gain insight on how this legislation affects your AML program.

• Gaining insight into the legislative process which resulted in the remittance disclosure provisions
• Determining how an MSB licensee may be liable for the acts of its independent sales outlets
• Preparing for your reaction when the rulemaking process is initiated

Speaker:

Ezra C. Levine, Senior Counsel, Morrison & Foerster

CASE STUDY Developing Effective SARs for Insurance

The USA PATRIOT Act expanded the definition of “financial institution,” authorizing FinCEN to establish anti-money laundering regulations and SAR filing requirements for certain segments of the insurance industry. The SAR-filing regulation for insurance companies mandated SAR filing only for those insurers that issue or underwrite specified “covered” products. In 2008 and again in 2010, FinCEN assessed the insurance industry’s SAR reporting, offering insight into the quality of the SAR reporting and reiterating that SAR narratives should make available clear and concise information so that law enforcement investigators have the tools necessary to combat money launderers and effectively deter terrorist financiers. Attend this session to ensure that your institution is compliant with these new requirements.

• Assessing the range of what “covered” products encompasses
• Crafting a concise, accurate and well-developed SAR narrative that is useful to law enforcement
• Hearing real-life scenarios that will help you refine your SAR-writing skills

Moderator:

Brian Ferrell, Executive Director, Financial Services, Ernst & Young LLP

Panelists:

Jeffrey P. Halperin, Vice President, MetLife

Daniel Wager, Director, New York HIFCA

Life Insurance Intensive: Best Practices for AML Organizational Management

US insurance companies face a number of specific AML challenges: a wide array of product offerings; examinations by multiple regulators; managing and training employees, agents, and other distribution channels; and pending regulatory changes. What are the key elements for a top-notch AML operation? How do large insurance companies stay on top of emerging regulatory requirements globally? How do the most successful companies secure buy-in from senior management? Attend this targeted session to pinpoint the challenges, review common solutions and anticipate regulatory mandates that are on the horizon.

• Implementing effective CDD and EDD, including beneficial owners, beneficiaries and reasonable reliance on regulated distributors
• Reviewing effective transaction monitoring and reporting strategies, especially for higher risks
• Learning from insurance leaders who can demonstrate proven best practices

Moderator:

Robert P. Walsh, Global Anti-Money Laundering Officer, AXA Group

Panelists:

Jeffrey P. Halperin, Vice President, MetLife

Markus E. Schulz, Chief Compliance Officer, Global Life & Banking, Group Financial Crime Officer, Zurich Insurance Company

Carol S. Stern, Acting Chief Compliance Officer, Insurance US, ING.

CASE STUDY AML Investigations in Latin America: Utilizing the Internet

We know, or have heard many times, that conducting AML duties with foreign institutions/customers can be a daunting and excruciating task. Before you opt for expensive and time consuming solutions, like paying onsite visits, exploit all the alternatives. Learn how the Internet is being used to perform AML and due diligence work with relationships in Latin America. In this panel you can obtain an array of great information sources and websites you can use in your work when dealing with Latin American counterparts to perform AML controls and due diligence processes. Take this opportunity to learn techniques and skills to better approach an AML investigation in Latin America.

• Discovering websites and other sources in different countries for gathering key information
• Adopting unique skills to perform due diligence process on clients in the region
• Utilizing available tools to determine the existence and registration of legal persons in some countries

Speakers:

Ariadna Rojas, Regional Compliance Manager, Central and Latin America, Scotiabank International Wealth Management

Gonzalo Vila, Director of Latin American Operations, Association of Certified Anti-Money Laundering Specialists

Reenergizing AML/CTF Programs in the Caribbean

Commitments to maintain AML/CTF programs that align with international standards and practices vary widely across the Caribbean; while some countries have exemplary programs in place, others have lacked the commitment to fortify their AML/CTF regime. With recently revised FATF guidelines and initiatives by CFATF and other regional bodies, many jurisdictions in the region have been noted for demonstrating poor AML programs. Financial institutions, corporate service providers, MSBs, attorneys and accountants are all taking notice: regulators and politicians are pushing to make the AML/CTF agenda a top priority again across the Caribbean. Attend this session to hear how Caribbean jurisdictions can synchronize goals to prevent money laundering and the financing of terrorism across the region.

• Understanding the unique operational challenges facing Caribbean  countries
• Examining effective strategies from regions that maintain strong AML programs
• Strengthening the existing framework of your institution’s AML regime

Moderator:

María de Lourdes Jiménez, Esq., Senior Vice President and Division Head Manager, Corporate Compliance Division, Popular

Panelists:

Carmen McField, Mutual Funds Administrator/MLRO, Advanced Fund Administration

Karen O’Brien, Managing Partner, Global Compliance Solutions

CASE STUDY Preventing the Abuse of Non-Profit Organizations and Charities for Money-Laundering and Tax Evasion in South America and the Caribbean

Tax evasion and tax fraud through the abuse of non-profit organizations (NPOs) and charities is a serious and increasing risk. This session reviews why this crime costs some countries many hundreds of millions of dollars and explains how the abuse of NPOs is becoming more organized and more sophisticated. Real case studies will be presented to help you recognize the signs of potential abuse within your institution.

• Understanding the common methods of abusing nonprofits and identifying the sectors at risk
• Identifying the main detection and investigation approaches being adopted by key countries
• Obtaining and implementing a list of red flag indicators to train front-end staff

Speakers:

Octavio Betancourt Montoya, Managing Director for Global Operations and Partner, Milersen LLC

Henrique Dominguez, Vice President & Audit Manager, EFG Bank Luxembourg

Trust and Corporate Service Providers: Helping to Combat Money Laundering and Attract New Business in the Caribbean

Using an offshore company for international trade and business makes sense for many companies and individuals who cross borders with goods and services. Many businesses in other jurisdictions see profit increases as well as significant cost savings because of tax breaks. There are challenges, however, to properly setting up an off-shore company; companies often seek the assistance of Corporate Service Providers. While most businesses seeking offshore outlets are legitimate, it can also attract illegal activity. Attend this session to hear how CFATF partnered with CSPs to be the first line of defense to detect money laundering and help boost the economy of many Caribbean jurisdictions.

• Hearing findings from CFATF’s newly released white paper
• Understanding the role this sector plays in combating AML in the Caribbean
• Reviewing how corporate vehicles serve as intermediaries to bring in financial business

Panelists:

Glenford Malone, Deputy Director, Investment Business Division, BVI Financial Services Commission, British Virgin Islands

Angela Mele, CAMS, MICA, Compliance Officer, Bodden Compliance & Training and Bodden Corporate Services

Evaluating the Risks of Global Banking

Correspondent banking, international payments and trade finance continue to be under the regulatory spotlight as a result of significant recent enforcement actions. Given the regulatory focus in these areas, financial institutions need to have sound policies, procedures, and processes in place to manage the risks of cross-border funds transfer and trade activities, but are challenged to find the right approach. Join this roundtable session to share your opinions on how the industry has responded to Section 312 of the USA Patriot Act, sanctions regulations and US and UN non-proliferation requirements – almost a decade after 9/11. This session, led by industry experts, will facilitate parallel guided discussions allowing participants to share experiences, best practices and future directions related to several topics including:

• Sanctions
• Trade finance
• International payments monitoring
• Correspondent due diligence

Courtesy of NICE Actimize.

Moderator:

Dr. Tony Wicks, Director of AML Solutions, NICE Actimize

Roundtable facilitators:

David Jeffries, Senior Vice President, Compliance Director, Corporate AML Compliance , JPMorgan Chase Bank NA

Thomas E. Nollner, CAMS, CFE, Resident Advisor, Office of Technical Assistance, US Treasury Department

Raymond Villanueva, Unit Chief, Trade Transparency Unit, US Immigration and Customs Enforcement

The Changing Face of Compliance in 2011

The global financial services industry has recently witnessed the levying of unprecedented regulatory enforcement fines against world-leading financial institutions for non-compliance. This, coupled with the fact that compliance ranked top as the area of most concern for senior managers in a new survey of global financial institutions, it is easy to understand why many leading industry analysts are predicting 2011 to be the Year of Compliance. During this presentation, Norkom Technologies will lift the lid on its latest financial compliance survey results, exploring the reasons for the continued drive towards convergence of AML and fraud and providing key insights into forthcoming regulations, such as FinCen proposals in relation to Cross Border Electronic Payments and reducing costs by performing compliance and fraud screening in a single step.

Sponsored by Norkom Technologies

Speaker:

Edward Doyle, Head of Compliance, Norkom Technologies

Pragmatic Solutions to your Most Pressing AML Challenges

At a time when you face increased responsibilities and your resources are limited, your peers can be invaluable allies in sharing best practices and creative solutions to challenges. Join these intimate working groups to share ideas with your peers and identify strategies to address the tough compliance issues you face today. Scheduled alongside the main conference sessions, each industry will have the opportunity to participate in small-scale, closed-door discussion. You set the agenda and an industry practitioner guides the dialog – don’t miss this opportunity to tap into the real-life experience of your peers!

Small Institutions Working Group: Partnering with Large Institutions to Tackle AML Challenges
Monday, March 21
1:30 PM – 2:45 PM

Facilitator: Lynne Federman, Chief Compliance Executive and a Senior Vice President for North America, Banco Espirito Santo

Insurance Working Group: AML Benchmarking in Insurance Companies
Monday, March 21
2:55 PM – 4:10 PM

Facilitator: Robert P. Walsh, Global AML Officer, AXA Group

Securities Working Group: Fraud Threats and Broker-Dealers
Monday, March 21
4:40 PM – 5:55 PM

Facilitator: Vasilios P. Chrisos, Americas AML and Economic Sanctions Director | Macquarie Compliance, Macquarie Group

Insurance Working Group: Fraud and Insurance Products: Applying FinCEN Guidance
Tuesday, March 22
1:30 PM – 2:45 PM

Facilitator: Ann B. Teixeira, Assistant Vice President and Anti-Money Laundering Compliance Officer, Sun Life Financial US

Securities Working Group: AML Challenges in the Securities Industry
Tuesday, March 22
2:55 PM – 4:10 PM

Facilitator: Jeffrey Weiss, Managing Director, Knight Equity Markets

MSB Working Group: Evaluating Processes and Best Practices for Examinations
Monday, March 21
4:40 PM – 5:55 PM
Facilitator: Octavio Betancourt Montoya, Consultant, Managing Director for Global Operations and Partner, Milersen LLC