fiba’s partnership with florida international university...
TRANSCRIPT
Co
nte
nt
About FIBA
FIBA’s Partnership with Florida International University
Value - FIBA AML Certifications
o FIBA AMLCA Certification
o FIBA CPAML Certification
FIBA Professional Development Programs
o FATCA Implementation Training
o Correspondent Banking AML Certificate
o AML/CFT Risk Assessment Certificate
o AML Certificate for Managers & Outside Directors
o Broker/Dealer AML Certificate
FIBA AML Webinars
FIBA Annual AML Compliance Conference
FIBA provides a forum where international banks
and financial firms can discuss issues that affect
their business and meet with their industry peers
FIBA and its members are dedicated to promoting
the highest ethical and professional standards
FIBA informs members of new or proposed
regulations in a timely manner and FIBA works
closely with regulators
FIBA submits comment letters and may take
public positions on behalf of its membership with
legislators and regulators on issues affecting
international banking and finance
FIBA membership is an integral tool for
managers of financial institutions due to its
resources and leadership connections
FIBA provides value to financial institutions
through its continuing professional education
programs such as its highly respected AML
certification
FIBA www.fibatraining.net
FIBA – Ethical Leadership and
Cooperation
Value-packed education and training
programs focused on hot-button industry
issues
Professional networking with the who’s who
in the industry
Connection to industry regulatory authorities
and policy makers
Forum to address emerging industry issues
and opportunities to participate in specialized
committees
Special programs to elucidate key issues
Diversified membership includes banks and
non-bank financial service providers
Access to enhanced BSA/AML and risk
management information and best practices
Certification provided by bankers for
bankers
FIBA Members by
Company Type
FIBA Member Bank
Geographical Origen
Banks 61%
Consulting 19%
Trade Assoc.
7%
Law Firms 13%
About FIBA
What sets FIBA apart
FIBA and its partnership with Florida
International University
FIBA’s training programs were created:
To help financial institutions keep pace with
the rapidly changing regulatory landscape;
To help pioneer the fight against money
laundering and terrorist financing;
To provide financial institutions with an AML
training source they can trust; and
To help prevent banks from running afoul of
the regulators.
Why partner with FIU?
FIBA and FIU’s College of Business, Office of
Executive & Education, were a natural fit
because both entities believe that top-notch
education and training is a necessity.
FIBA-FIU Certifications
The Certifications FIBA AMLCA and FIBA
CPAML, offer a combination of case studies,
real examples, and theory which are invaluable
components of the academic content, and are
designed to assist your staff and Directors to
gain practical knowledge and implement risk
based methods to comply with internationally
accepted AML/CFT standards.
DOMESTIC (U.S.) FINANCIAL
INSTITUTIONS
You will gain practical, “hands-on” knowledge
of the risk-based approach to compliance with
BSA/AML/OFAC regulatory requirements.
Taking the FFIEC Manual as our foundation,
we navigate through real-world case studies
and help you plan strategies to prevent your
institution from repeating the mistakes other
institutions have made or from taking
unnecessary risks that may cost you in terms
of fines and your institution’s reputation.
FOREIGN FINANCIAL INSTITUTIONS
AND OTHER FINANCIAL
INSTITUTIONS
You will acquire in-depth knowledge of how
U.S. and global financial institutions are
implementing best practices and how to
evaluate risks to your institution.
You will obtain the necessary expertise to
operate in a global environment, using
international standards of money laundering
and terrorist financing prevention.
Here are some areas where your
institution will benefit
Hiring a BSA/AML Officer? … Ask for the FIBA AML Certification FIBA AMLCA – FIBA CPAML
About FIBA-FIU Programs
The FIBA AML
Certification is
recognized by an
international
academic institution,
Florida International
University, and
delivered by a global
trade association, FIBA.
The FIBA AML
Certification is highly
respected by industry
regulators and law
enforcement. It offers
the practical
information today’s
AML professionals
need to do their jobs
effectively.
Registration fees are
designed to be cost
effective, allowing
your institution to send
multiple members of
your management and
compliance staff
company-wide.
Top AML financial
professionals helped
create the academic
content. They meet
regularly to ensure it
is up-to-date, relevant
and comprehensive.
The FIBA AML Certifications are available globally through
a highly interactive online offering. Classroom-style
instruction is also available in a number of locations in the
US, Latin America and the Caribbean and is offered
in-house for enterprise-wide training.
Are all your “right people” FIBA Certified ? FIBA AMLCA – FIBA CPAML
Why you should choose the FIBA AML Certification
Value - FIBA AML Certification
Identify
• Identify and examine the major money laundering risks a financial institution faces
Implement
•Establish, implement, and enhance internal controls, policies, procedures, and processes to meet relevant regulatory requirements and mitigate AML risk
Report
• Identify, investigate, and properly report suspicious activity
Eligibility/Preparation
Participants should be employed in the
financial industry. Attendees are expected to
complete a comprehensive pre-class reading
list that will facilitate the successful completion
of the exam. The reading list includes the most
recent version of the FFIEC BSA/AML Manual,
FinCEN and FATF advisories, and other
relevant guidance.
Anticipated reading time: 10-15 hours
Format/Language
Primary Objectives
English or Spanish
Online Training
Classroom Training
Private Training in your Office or Country
Who Should Attend
BSA/AML Compliance Officers
Consultants
Bank examiners
Lawyers
FIBA AMLCA Anti Money Laundering Certified Associate
Online FIBA AMLCA Certification
Offered entirely over the internet, the online
certificate course is designed for self-directed
independent study, allowing students to proceed at
their own pace. Participants will have 90 days to
complete the reading materials, PowerPoint
narratives, practice quizzes, and final examination.
The online format utilizes a unique discussion
forum in which students answer case-study
questions and interact with classmates and the
instructor.
Classroom FIBA AMLCA Certification
Participants will be required to complete a
comprehensive reading list prior to attending a 2-
day lecture. After the 2-day lecture, practice quiz
and exam login information will be emailed to
participants, who will have 90 days to complete the
practice quizzes and certification exam.
In-House FIBA AMLCA Certification
FIBA can certify the entire staff at financial
institutions. Please contact FIBA to request
information regarding customized, enterprise-wide
training.
FIBA AMLCA
Certification
The exam consists of 100 comprehensive
questions that must be completed within 1
hour and 45 minutes. Attendees passing
the exam with a 75% or higher mark will
receive the prestigious FIBA AMLCA
Certification.
The online practice quizzes help
participants prepare for the certification
exam. There are a total of 23 quizzes,
each of which can be taken twice to better
prepare you to sit for the exam.
Content
Module I: From Anti-Money Laundering to
Counter Terrorist Financing
-The recent history of AML/CFT
-Laws, regulations & international
organizations
-Consolidated structure concerns
Module II: From Theory to Practice: A Risk-
Based Approach to AML
-Assessing institutional risk
-Customer identification, customer due
diligence & enhanced due diligence
-Recordkeeping & reporting requirements
-Office of Foreign Assets Control
Module III: Mitigating Risk with Internal
Controls
-Internal controls
-Risk & risk mitigation
Module IV: Finding the Red Flags of Money
Laundering: Monitoring, Identifying,
Investigating, & Reporting
-Monitoring for suspicious activity
-Reporting suspicious activity
-Responding to government process
Module V: Preparing For Audits &
Regulatory Examinations
-Preparing for audits & examinations
Module VI: Training & Communicating with
Boards and Management
-Training
-Communicating with boards and management
Practice Quizzes
Certification Exam
Continuing Education
FIBA AMLCA Certification (continued)
FIBA AMLCA Anti Money Laundering Certified Associate
To maintain the certification in active status,
attendees are required to participate in 20
hours of continuing AML education every
two years. Continuing AML education
credits may be obtained through a variety of
programs, such as the FIBA Anti Money
Laundering Compliance Conference, FIBA
webinars, FIBA events, in-house AML
training at your institution , AML trainings
through your local trade association, and
other approved AML training programs.
Enhance •Enhance analytical skills critical to effective decision making by the AML manager
Identify
• Identify key objectives and strategies for effective reporting to senior management and the board of directors
Improve
• Improve overall management processes including development of comprehensive project plans
Eligibility/Preparation
The participant must already know the basics of
AML compliance and analysis and have a
minimum of three (3) years experience in a
management or supervisory position.
Prior to the classroom program, participants
must review the FIBA CPAML workbook, which
consists of 8 case studies. During the
classroom program, participants will complete
the case-study exercises and actively contribute
to discussions.
Who Should Attend
Primary Objectives
Format/Language
Senior Compliance Officers
AML Department Managers
Risk Managers
AML Consultants
English or Spanish
Classroom training
Private training in your office or country
Classroom Training FIBA CPAML
Certification
Attendees are required to complete 8 case
studies and pass the exam to earn their
certification.
In-House FIBA CPAML Certification
FIBA can certify the entire staff at financial
institutions. Please contact FIBA to request
information on group discounts.
FIBA CPAML Certified Professional in Anti Money Laundering
FIBA CPAML
Certification
The online examination consists of 3 essay
questions that must be completed within a 2
hour time period. The candidate must
demonstrate an understanding of the
application of AML laws and regulations in a
variety of "real life” scenarios. Attendees
passing the exam with an 80% or higher
mark will receive the prestigious FIBA
CPAML certification.
Certification Exam
Continuing Education
This advanced level course includes case studies and
real examples of the challenges faced by the Senior
AML Compliance Officer or AML Compliance
Manager who is responsible for the entire AML
compliance program at the institution. This
certification focuses on the analysis and interpretative
side of AML compliance that is necessary in a risk-
based regulatory environment.
Content
Developing and implementing a risk
assessment
Conducting KYC updates and
recommendations
Managing compliance with Examination
Reports or Supervisory Actions
Managing an AML Department via daily,
weekly, and monthly task lists
Selecting and implementing a transaction-
monitoring system
Investigating and documenting Suspicious
Activity Reports (SARs)
FIBA CPAML Certified Professional in Anti Money Laundering
To maintain the certification in active
status, attendees are required to
participate in 20 hours of continuing AML
education every two years. Continuing
AML education credits may be obtained
through a variety of programs, such as the
FIBA Anti Money Laundering Compliance
Conference, FIBA webinars, FIBA events,
in-house AML training at your institution ,
AML trainings through your local trade
association, and other approved AML
training programs.
FIBA CPAML Certification (continued)
Primary Objectives
BSA/AML Compliance Officers
Broker / Dealers
Risk Management Professionals
Fund Managers
Trust Companies, Trustees, and Trust
Professionals
FIBA Professional Development FATCA Implementation Training
Learn how FATCA affects your business and
operations
Know what FATCA requires of you in your role in
your institution
Review requirements for developing and
implementing an effective FATCA action plan,
including establishment of policies and
procedures
Understand the Keys to FATCA: Due Diligence
Requirements and Identification of US Accounts
Understand how to report U.S. accounts
(whether directly to the IRS or to your local
supervisory authority), as required by FATCA
Understand how to apply the 30% withholding tax
which may be required in the case of certain
payments made to recalcitrant accountholders or
non-participating foreign financial institutions
Overview - FATCA
The Foreign Account Tax Compliance Act (FATCA) is
an important development in U.S. efforts to improve
tax compliance involving foreign financial assets and
offshore accounts. FATCA requires foreign financial
institutions (FFIs) to report directly to the U.S. Internal
Revenue Service (IRS) information on financial
accounts held by U.S. taxpayers, or held by foreign
entities in which U.S. taxpayers hold a substantial
ownership interest. In order to identify customers who
are U.S. taxpayers, FFIs will be required to implement
due diligence, identification, controls and reporting
systems. Failure to comply with FATCA will be costly
and may subject FFIs to a 30% withholding tax on
U.S.-source payments, including dividends, interest
and gross proceeds from the sale of assets which
may generate U.S. dividends or Interest.
MODULE 1: Background and History of FATCA
Legislation
Historical context
HIRE Act, FATCA enacted March 18, 2010
MODULE 2: Classification of Foreign Financial
Institutions & Non-Financial Foreign Entities
Definition of FFIs and NFFEs
Determination of your Institution’s Status for
FATCA purposes
MODULE 3: Practical Application to your
Institution
Development of FATCA Action Plan
o Customer identification & due diligence
o Follow-up certifications for US Indicia or
Recalcitrant Accountholders
o Country-Specific Focus
MODULE 4: Reporting & Withholding
Requirements of FATCA
IRS Forms and Withholding Certificates
Reports to the IRS or to Home Country
Government or Local Supervisory Authority
Withholding tax on non-participating FFIs and
recalcitrant accountholders
MODULE 5: International Developments
IGAs
Multilateral Efforts
Who Should Attend
Content
FATCA Implementation Training
Participants will receive a certificate of completion .
Certificate of Completion
Continuing Education
Approved for 7 continuing education credits for
professionals who have earned their FIBA AMLCA
or FIBA CPAML Certifications.
Approved for 7 continuing education credits
for professional who have earned their FIBA
AMLCA or FIBA CPAML Certification.
Continuing Education
The risks posed by correspondent banking are of
concern to regulators, bankers, and broker-
dealers in securities alike. Recently, U.S.
financial institutions have faced severe penalties
as a result of having weak BSA/AML compliance
programs for their foreign correspondent banking
accounts. The various sections of the USA
PATRIOT Act and implementing regulations in
the Bank Secrecy Act have been in final form for
a number of years now. This course will discuss
not so much the regulations but rather the
practical applications of the regulatory
requirements, with a particular emphasis on
nested accounts.
This course is designed for both U.S. financial
institutions offering correspondent banking as
well as for foreign financial institutions which have
or are seeking a U.S. correspondent banking
relationship. U.S. financial institutions will
acquire practical knowledge to apply to their
compliance program. The foreign financial
institution will have a much better understanding
and appreciation for understanding the
correspondent relationship and be able to
demonstrate to its U.S. correspondent bank its
compliance program to respond to contract
requirements.
Overview
Advanced Preparation
It is required that the Case Study materials
be studied and reviewed before attending
the class. The “strongly recommended”
reading list is for the student to review, but
not required for completion of the course.
Reading time is estimated at 5-7 hours.
FIBA Professional Development Correspondent Banking AML Certificate
Participants will be required to successfully
complete an exam immediately following the
training. Participants will receive a certificate
of completion after passing the exam.
Exam/Certificate of Completion Primary Objectives
Who Should Attend
Deliver practical knowledge designed to:
Understand the risks associated with foreign
correspondent banking.
Learn the practical application of addressing
those risks to document a compliance
program.
AML/CFT Compliance personnel
Audit personnel
Regulators/supervisors of financial
institutions
Marketing staff
Business managers
Consultants
Correspondent Banking
AML Certificate
Participants will be required to deliver a
narrative summary of the case study
immediately following the training to receive
a certificate of course completion.
Primary Objectives Exam/Certificate of Completion
Continuing Education
Deliver practical knowledge designed to:
Develop the risk profile of a financial
institution;
Analyze the characteristics of a corporate
customer and assign its risk rating; and
Identify risks and weaknesses so that
internal controls can be put into place to
prevent systemic failures that may lead to
financial or reputational losses.
The FIBA AML Risk Assessment Certificate and
Workshop is designed to offer knowledge and
practical processes to develop the risk profile of
a financial institution. The workshop will train
participants in understanding and conducting an
AML/CFT risk assessment that is functional and
useful to develop internal controls. Training will
also cover identifying risk areas and internal
processes that could contribute to financial and
reputational losses. The course is presented in
a dynamic and interactive fashion, requiring
group contributions, participant’s dialogue, and
verbal presentation. A case study will be
presented as part of the course and participants
will contribute in their analysis and delivery of a
written narrative resolution.
Overview Highlights
The course is presented in an interactive
classroom environment that requires group
participation. As a workshop, each group
will:
• conduct an institutional risk assessment
to establish the risk profile of a financial
institution,
• determine the risk classification of a
corporate client, and
• conduct a real case study requiring
dialogue, analysis, and verbal
presentation by the participants.
Participants must bring a laptop computer for
use during the event.
FIBA Professional Development AML/CFT Risk Assessment Certificate
Approved for 6 continuing education credits
for professionals who have earned their
FIBA AMLCA or FIBA CPAML Certification.
Who Should Attend
AML/CFT Compliance personnel
Audit personnel
Personnel dedicated to private banking and
other client services
Personnel in the commercial area
Regulators/supervisors of financial institutions
Banks, broker dealers, and other non-
financial institutions.
AML/CFT Risk
Assessment Certificate
Participants will be required to
successfully complete a short oral group
exam immediately following the training.
Participants will receive a certificate of
completion after passing the test.
Highlights
Oral Exam/Certificate of
Completion
Continuing Education
• Defining money laundering & terrorist
financing
• Global AML/CTF framework
• AML/CTF roles and responsibilities of
boards of directors
• AML/CTF roles and responsibilities of
senior management
• AML/CTF risk management
• Pillars of an effective AML/CTF program
• Know Your Customer
• Overview of customer risk rating
• Transaction monitoring
• Record retention
• Role of supervisors
• Sanctions program overview
• Anti-corruption efforts
• Top 10 AML deficiencies
• Consequences of non-compliance
• Protecting your financial institution
This course focuses on the specific responsibilities
and challenges faced by managers and the board
of directors. We will also review practical solutions
and guidance which managers and directors can
use as "best practices,” and which can serve as
benchmarks to evaluate the AML/BSA compliance
programs at their institutions.
Outside directors face a special challenge in
today’s regulatory environment. Directors may not
have firsthand knowledge of their banks’ everyday
operations because they are not employees.
However, they are expected to be just as
knowledgeable about the bank’s AML program, its
effectiveness, and any potential problems as are
management and the compliance department.
Regulatory issues are likely to occur if
management does not fully understand its
responsibilities. Lack of sufficient management
support, or lack of management understanding of
its critical role, can lead to serious problems for the
financial institution.
Overview
FIBA Professional Development AML Certificate for General Managers & Outside Directors
Approved for 4 continuing education
credits for professional who have earned
their FIBA AMLCA or FIBA CPAML
Certifications.
AML Certificate for Managers
& Outside Directors
Participants will receive a certificate of
completion .
Highlights
Certificate of Completion
Continuing Education
• Legal and regulatory requirements for
broker/dealers pertaining to AML and
OFAC compliance
• Overview of money laundering through
broker/dealers
• Common deficiencies as cited by SEC
• A risk based approach to AML and OFAC
compliance
• Introducing, self clearing, and carrying
brokers
• Complex structures and AML risks
• Intermediary accounts
• OFAC and PEP’s
• Transaction monitoring challenges
• Independent testing requirements
• AML risks related to foreign finders
• Challenges for broker/dealers in the
international arena
• Case studies
The FIBA Broker/Dealer AML Certificate is a full
day professional certificate program that will give
you a broad and comprehensive overview and
understanding of current Anti-Money Laundering
(AML) challenges faced by broker/dealers and
industry best practices.
This unique certificate program, developed in
cooperation with industry practitioners both in the
United States and Latin America, offers participants
an in‐depth view into the challenges of
broker/dealers in complying with U.S. AML
requirements and leading international practices.
While basic requirements for banks and
broker/dealers are similar, there are unique
challenges that broker/dealers face when
implementing and maintaining a comprehensive
AML program. This training will help you to
contribute to your organization’s efforts in
maintaining a robust AML compliance program,
while giving you the unique opportunity to participate
in an interactive environment with fellow AML
compliance practitioners and share common
experiences and challenges.
Overview
FIBA Professional Development Broker / Dealer AML Certificate
Approved for 6.5 continuing education
credits for professional who have earned
their FIBA AMLCA or FIBA CPAML
Certifications.
Who Should Attend
• Bankers conducting securities business
• US Broker/Dealers
• International Broker/Dealers
• Compliance Officers
• Registered Representatives
Broker / Dealer AML Certificate
Many FIBA AML webinars are free.
Every session is recorded and archived and
available to review after the event.
Register your AML compliance department and
join your colleagues in live discussion with others
from across the globe.
Each 90-minute FIBA Webinar will feature
presentation materials, a live presentation and
opportunities to interact with the presenter(s) to
pose questions or make comments.
The convenience of the FIBA AML Webinars
enables financial institutions to simultaneously
expose a large number of employees to timely
topics.
All you need in order to participate is an Internet
connection.
Registrants receive Continuing Education Credits
for FIBA AMLCA and FIBA CPAML Certifications.
Registrants receive a Certificate of Attendance.
FIBA is proud to present a variety of webinars on the most current BSA/AML
compliance topics. Our webinars are a great platform to learn about emerging
issues, new procedures and regulatory updates.
Receive Continuing Education
Credits
Stay up-to-date with BSA/AML
topics
Webinars are available in
English and Spanish
Additional Benefits
FIBA AML Webinars
Highlights
FIBA AML Webinars
FIBA www.antimoneylaudering-fiba.com
FIBA Annual Anti Money Laundering
Compliance Conference
Attendance by Title
USA70%
Latin America19%
Caribbean9%
Other2%
Bank61%
Consulting Firm10%
Government10%
Technology Vendor
8%
Non-Bank, Other Financial Institution
6%
Law Firm 4%
Trade Association1%
Senior Compliance Managers
34%
GMs, Directors, Other Senior
Mgmt28%
BSA/AML Compliance
Analyst14%
BSA/AML Compliance
Officers14%
Sales Executives7%
President/CEO/ Chairman
3%
Attendance by Title
Attendance by Company Type
Attendance by Region FIBA’s Annual AML Conference:
Is one of the largest and most
recognized in the world, attracting
more than 1,250 AML professionals
from over 40 countries
Features specialized learning
tracks, including sessions that
address virtually every aspect of
meaningful AML concerns
Offers rich academic content that is
delivered by experienced and
seasoned experts who know and
even create industry best practices
Unites key specialists in one
place, ranging from US and
international regulators, to AML
compliance officers, consultants,
auditors, lawyers and prominent AML
vendors
FIBA Annual AML
Compliance Conference