FIBA (Florida International Bankers Association)

Transcription

1 FIBA (Florida International Bankers Association)

2 About FIBA Page 3 Our affiliation with Florida International University Page 4 AML Certifications o AMLCA Page 6 o CPAML Page 8 Professional Development Programs o FATCA Workshops & Training Page 9 o Correspondent Banking AML Certificate Page 10 o AML/CFT Risk Assessment Certificate & Workshop Page 11 o Managers, CEOs, & Directors AML Certificate Page 12 o Broker/Dealer AML Certificate Page 13 o Private Banking AML Certificate Page 14 o International Trade Finance Certificate Page 15 Webinars Page16 2

3 Geographical Origen Company Type Ethical Leadership & Cooperation 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 Member by: Value-packed education and training programs focused on hot-button industry issues. Trade Assoc. 7% Law Firms 13% 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. Consulting 19% Banks 61% Special programs to elucidate key issues. Diversified membership includes banks and nonbank financial service providers. Access to enhanced BSA/AML and risk management information and best practices. Certification provided by bankers for bankers. LATAM 30% Europe 23% North America 47% 3

4 About FIBA-FIU Programs 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. To help prevent banks from running afoul of the regulators. Here are some areas where your institution will benefit: 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 realworld 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. 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. FOREIGN 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. 4

5 The Value of the FIBA AML Certification Why you should choose the FIBA AML Certification? The FIBA AML Certifications are recognized by an international academic institution, Florida International University, and delivered by a global trade association, FIBA. Top AML financial professionals helped create the academic content. They meet regularly to ensure it is up-todate, relevant and comprehensive. The FIBA AML Certifications are highly respected by industry regulators and law enforcement. Offering 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. The FIBA AML Certifications are available globally through a highly interactive online offering. Classroom-style instruction is also available and is offered in-house for enterprise-wide training. 5

6 AMLCA 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. Online 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 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 ed to participants, who will have 90 days to complete the practice quizzes and certification exam. In-House AMLCA Certification FIBA can certify the entire staff at financial institutions. Please contact FIBA to request information regarding customized, enterprise-wide training. Eligibility/Preparation Participants should be employed in the financial industry. Attendees are expected to complete a comprehensive preclass 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: hours. BSA/AML Compliance Officers Consultants Bank examiners Lawyers Who Should Attend Format/Language English or Spanish Online Training Classroom Training Private Training in your Office or Country 6

7 AMLCA Certification(continued) 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 Practice Quizzes 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. Certification Exam 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. 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: Capacitación y comunicación con la Junta Directiva y la gerencia Training Communicating with boards and management Continuing Education 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. 7

8 Enhance CPAML Certification Identify Improve Enhance analytical skills critical to effective decision making by the AML manager. Identify key objectives and strategies for effective reporting to senior management and the board of directors. Improve overall management processes including development of comprehensive project plans. Content 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. 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) Certification Exam The online examination consists of 3 essay questions that must be completed within a 90 minute 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. Continuing Education 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. 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 Senior Compliance Officers AML Department Managers Risk Managers AML Consultants English or Spanish Classroom training Private training in your office or country Format/Language 8

9 FATCA Workshop & Training Overview 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 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 (generally 10% or more). 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. Primary Objectives Learn how FATCA affects your business and operations Know what FATCA requires of you in your role in your institution Understand the Keys to FATCA: Due Diligence Requirements and Identification of US Accounts Understand how to register your FFI and report U.S. accounts as required by FATCA Understand how to report U.S. accounts and to apply the 30% withholding tax which may be required in the case of certain payments Learn about international expansion of tax information exchange through OECD efforts Who Should Attend BSA/AML Compliance & Officers Broker / Dealers Risk Management Professionals Fund or Asset Managers Trust Companies and Trust Professionals Continuing Education Approved for 7 continuing education credits for professionals who have earned their FIBA AMLCA or FIBA CPAML Certifications. Content MODULE I: FATCA 101 Historical context &:enactment of HIRE Act, Chapter 3 vs. Chapter 4 Key FATCA Terminology and Definitions Basic Principles of FATCA Practical Impact on Business Operations MODULE II: Classification Rules Definition of FFI Definition of NFFE Deemed Compliant FFIs Exempt Beneficial Owners Effect of Intergovernmental Agreements (IGAs) Expanded Affiliated Groups MODULE III: Accountholder Identification & Documentation Rules Customer Identification & Due Diligence Rules for Pre-Existing Accountholders Account Aggregation Rules Electronic search for U.S. Indicia Additional certification required when US Indicia is Identified Relationship Manager Inquiry Recalcitrant Accountholders Modification of Onboarding Procedures for New Accountholders IRS Forms and Withholding Certificates (W8) MODULE IV: IRS Online FATCA Portal Registration Process & Assignment of GIIN Responsible Officer Certification regarding FATCA Compliance MODULE V: Reporting & Withholding Requirements FATCA Reports Withholding tax on Non-Participating FFIs and Recalcitrant Accountholders MODULE VI: International Developments OECD Global Forum Other Multilateral Efforts: G5 Pilot, IRS Certificate of Completion Participants will receive a certificate of completion 9

10 Correspondent Banking AML Certificate Overview The risks posed by correspondent banking are of concern to regulators, bankers, and brokerdealers 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. Primary Objectives Understand the risks associated with foreign correspondent banking. Learn the practical application of addressing those risks to document a compliance program. Continuing Education Approved for 7 continuing education credits for professional who have earned their FIBA AMLCA or FIBA CPAML Certification. Who Should Attend AML/CFT Compliance personnel Audit personnel Regulators/supervisors of financial institutions Marketing staff Business managers Consultants Content Brief History and Regulatory Expectations Definition of Correspondent Banking with a mention of foreign MSBs Foreign Financial Institution Risk Rating Methodology Due Diligence Program Transaction Monitoring Program Case Studies Name Screening Correspondent Banking BSA/AML and OFAC Contract Considerations Advanced Preparation Case Study materials must 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. Estimated reading time: 5-7 hours Exam/Certificate of Completion Participants will be complete an exam immediately following the training. Participants will receive a certificate of completion after passing the exam. 10

11 AML/CFT Risk Assessment Certificate & Workshop Overview The FIBA AML/CFT 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. Primary Objectives 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. 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 nonfinancial institutions. Continuing Education Approved for 6 continuing education credits for professionals who have earned their FIBA AMLCA or FIBA CPAML Certification. 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. Exam/Certificate of Completion Participants will be required to deliver a narrative summary of the case study immediately following the training to receive a certificate of course completion. 11

12 Managers, CEOs & Directors AML Certificate Overview 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. Continuing Education Approved for 4 continuing education credits for professional who have earned their FIBA AMLCA or FIBA CPAML Certifications. Highlights 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 Oral Exam/Certificate of Completion 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. 12

13 Broker / Dealer AML Certificate Overview 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. Who Should Attend Bankers conducting securities business US Broker/Dealers International Broker/Dealers Compliance Officers Registered Representatives Continuing Education Approved for 6.5 continuing education credits for professional who have earned their FIBA AMLCA or FIBA CPAML Certifications. Highlights 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 FATCA issues relating to intergovernmental information exchange Based on the location of your course, country specific information regarding local AML laws Case studies Certificate of Completion Participants will receive a certificate of completion. 13

14 Overview The focus of this program is to enhance the skills and techniques of experienced private bankers to help them acquire personal financial information from clients which are not only required in today's highly regulated environment, but which will help the private bankers provide more comprehensive services to their clients. The FIBA Private Banking AML Certificate modules focus on what bankers can do, consistent with current regulatory and compliance requirements, and what they can do to be more effective in developing a broader wealth management relationship with the "right clients" by selling them the "right products" the "right way". Who Should Attend Private Bankers, Relationship Managers, and Bank Management. The ideal candidate for this course will have at least 3 years experience in private banking. This course is not designed to teach the basics of compliance. Continuing Education Approved for 7 continuing education credits for professional who have earned their FIBA AMLCA or FIBA CPAML Certification. Private Banking AML Certificate Content MODULE I: The Ethical Foundation of a Successful Business "Selling to the Right People MODULE II: The Ethics of Building Account Relationships Selling the Right Products" MODULE III: The Ethics of Account Management "Selling the Right Way" Highlights This program helps you become a better contributor to your organization by expanding your knowledge and sharpening your AML knowledge and problem-solving skills. The selling skills will help build client loyalty to you and your organization. This program will also: Enhance selling communication skills needed in the profession Techniques for bankers on selling products more tailored to their clients Better understand the broader financial needs of their customers Exam/Certificate of Completion Participants will be required to successfully complete a short exam immediately following the training. Participants will receive a certificate of completion after passing the exam 14

15 International Trade Finance Certificate Overview The velocity of commerce at global level puts pressure on the need to have qualified staff handling International Trade. The Global crisis is showing the importance of keeping these level of staff updated and trained to be able to identify risks at an early stage. Financial Institutions are assigning young professionals to the International Area and demand a program to give them a qualified overview of what the business demands and the related risks. Primary Objectives Understand the International Trade flows and the key players. Learn the language of International Trade and the needs and expectations of each player in any given transaction. Review Trade Services and Finance features and learn how and when to use them. Understand how to structure an effective Trade Services and Trade Finance offering for clients. Understand the Risks embedded in any International Trade deal, including political risk.. Learn how basic International Trade Risk Mitigation techniques work. Learn how to use product features in different situations. Identify trade-base AML Cement all these concepts through case studies. What s Included? 90 days of Online Instructor Led Training Over 16 hours of recorded PowerPoint Presentations Case Studies & Discussions Final Exam Online Certificate of Completion Who Should Attend Officers with 2 years experience ready to assume new responsibilities in Trade Finance. Customer Service Officers servicing International Trade players. Compliance and Risk Officers recently assigned responsibilities for Int. Trade without prior exposure to this business segment. Content A: Trade Basics Overview (optional) B: Identifying and understanding client s International Trade business flows The business cycle C: Identifying and understanding each party s needs and expectations Corporate & Financial Institutions (US Banks and Emerging Markets F.I.) D: Mastering the use of International Trade Products The language of Trade (Incoterms) Trade Services Letters of Credit (L/C) versus other guaranteed collection alternatives. Transferable versus Back-to-back L.Cs. Extended use of Stand-by L.Cs. Trade Finance Funded and unfunded facilities Tenor, repayment schedules & pricing Supply chain financing needs E: Reducing the impact of Trade Exposure on the Bank s Balance Sheet. Role of the Export Credit Agencies Factoring Forfaiting & Syndications Sovereign & Commercial Risk Mitigation F: Trade-based Money Laundering Knowing the customer and its business Under and over-invoicing Using reliable Correspondent Banking partners 15

16 Webinars FIBA is proud to present a variety of webinars on the most current financial topics. Our webinars are a great platform to learn about emerging issues, new procedures and regulatory updates. Additional Benefits Receive Continuing Education Credits Stay up-to-date with BSA/AML topics Webinars are available in English and Spanish Highlights Many FIBA AML webinars are complimentary 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. 16