Utah's Credit Unions

eTrain: Bank Secrecy Act (BSA) for Volunteers

The Bank Secrecy Act (BSA) continues to be an important compliance and examination issue. In fact, a financial institution was recently fined $10 Million for failing to comply with the requirements of the act. Are you prepared? Under the Bank Secrecy Act, credit unions are on the front lines in the war against criminal and terrorist financing. Your Board of Directors is included in the battle, with oversight requirements to regularly review and ensure your credit union’s adherence to BSA policies, procedures, and changes.

Is your Board up-to-date on their Bank Secrecy Act compliance training and responsibilities?
Join credit union attorney and compliance expert David Reed for this interactive session on the nuts and bolts of the Bank Secrecy Act.

This session will cover:

• Overview of the Bank Secrecy Act
• Board compliance responsibilities
• Basic BSA monitoring and record keeping requirements
• Leveraging existing security programs
• Bullet proofing your BSA policy
• Regulatory examination tips

Who should attend?

• Board of Directors
• Supervisory Committee
• CEO
• CFO
• Senior Management
• Internal Audit

Meet the presenter, David A. Reed:
Attorney, author, consultant and nationally recognized speaker, David A. Reed is a partner in the law firm of Reed and Jolly, PLLC and founder of CU Doctor, a full service credit union consulting practice.  Through Reed and Jolly, Mr. Reed provides guidance to credit unions concerning a variety of matters including the establishment and revision of credit union policies and procedures, organizational compliance, collections, security, contractual agreements, regulatory matters and corporate governance.  His engaging speaking style has garnered him status as a regular lecturer nationwide on topics such as regulatory compliance, consumer lending, bankruptcy and collections.  And, he offers facilitation services and a full range of on-site training programs that can be delivered to the Board, executive team, managers or frontline staff.  

A former trial attorney and Vice President and General Counsel of a large credit union, Mr. Reed is particularly noted as an expert in the areas of credit union operations, bankruptcy and collections.  He has been selected to train NCUA Field Examination and Audit Staff on numerous issues including ID Theft Red Flags, S.A.F.E Act, Third Party Contract Management and Bankruptcy matters.  He also serves as editor of several industry manuals including Collections Manual for Credit Unions and Bankruptcy Guide for Credit Unions.

Don't miss a minute of the exciting eTrain webinar series! For more information about upcoming programs, please email your questions to eTrain@ccul.org or call 800.472.1702 and select option 2.