Welcome to the Compliance Cohort. We are a group of compliance professionals working to make compliance easier. Our goal is to take complex compliance concepts and put them in simple terms that apply to the real world. We are glad you have found us and look forward to collaborating in the future.
If you haven't done so already, make sure you sign up for our free membership where you get access to many member-only videos, articles, and other resources.
BSA employees have many challenges. They have time-sensitive reports that must be filed on an ongoing basis. They have front-line employees who do things that create errors and additional challenges for their team. They have complex rules and regulations they must follow. And, they have to deal with ongoing changes to these rules and regulations.
While many of the long-time BSA/AML rules continue to stay the same, regulator expectations for BSA/AML programs do continuously evolve. Examiners seem to have greater and greater expectations for BSA programs, and the result of this is that BSA/AML rules for financial institutions continue to change.
This means that BSA team members must ensure they identify - and then effectively implement - any BSA/AML changes that apply to their financial institution.
In fact, examiners actually have an expectation that BSA employees receive regular training to keep them up-to-date with BSA/AML changes. Specifically, the FFIEC BSA Exam manual provides the expectation that “the BSA compliance officer and BSA compliance staff should receive periodic training that is relevant and appropriate to remain informed of changes to regulatory requirements and changes to the bank’s risk profile.”
And this is exactly why we have created our BSA Annual Update training program.
Our BSA Annual Update provides video-based training on the BSA and AML activity that took place over the last year, including guidance from FinCEN and other regulatory agencies. While most BSA officers will already be aware of many of the changes, this program can essentially act as a review (or a checklist of sorts) to ensure that all applicable information is appropriately received and implemented within the organization. At the end of the day, our BSA Annual Update is a great way to show regulators that your BSA team is receiving training that helps them “remain informed of changes to regulatory requirements,” as expected in the FFIEC BSA Exam manual.
This program would be good for BSA officers, BSA team members, auditors, compliance officers, management, and anyone else wanting to stay up-to-date on BSA/AML rules and activity.
NOTE: We are currently offering a BSA Annual Update twice a year. As this is an “annual” program that covers a year’s worth of material, attendees don’t need to attend both programs, but rather can choose to be part of either our Spring Cohort or our Fall Cohort. In other words, those who attended our Fall 2023 BSA Annual Update last year, will be able to attend our Fall 2024 BSA Annual Update without missing any activity.
3.5 CRCM, CAFP, CERP credits. ABA Professional Certifications is dedicated to promoting the highest standards of performance and ethics within the financial services industry. The BSA Annual Update (Fall 2024) has been approved for 4.5 CRCM, CAFP, CERP credits. This statement is not an endorsement of this program or its sponsor. Certification holders must report these credits at aba.csod.com.
Regular: $399
Get additional discount for one additional attendee. The total cost will be the current price (regular or discounted) for the first attendee plus $129 for the second attendee. (Click the second button below to avail this discount.)
NOTE: If you would like to demo this class before you purchase it to make sure it's what you are looking for, just let us know and we can work something out.
The class is presented in multiple videos and covers the following topics. Constraints of the program and perceived applicability to attendees, some topics will be reviewed in greater detail than others.
VIDEO 1: October 1, 2023 to December 31, 2023 (41 min)
FFRB Fines Metropolitan Commercial Bank for BSA Violations
FinCEN Proposes New Rule to Enhance Transparency in CVC Mixing and Combat Terrorist Financing
FinCEN Renews and Expands Real Estate Geographic Targeting Orders
FinCEN Issues Alert Regarding Hamas’ Terrorist Activities
FinCEN Issues Updated FATF Deficient Countries
And more!
NOTE: This is the same video that was included in the Winter 2024 Quarterly Compliance Update.
VIDEO 4: Activity from January 1, 2024 to March 31, 2024 (44 min)
FinCEN Begins Accepting BOI Reports
FinCEN Analysis of Identity-Related Suspicious Activity
FinCEN Updates its Paycheck Protection Program FAQs
FinCEN Requests Comments for BOI Requests
FinCEN Fines an AML Officer $100,000 for BSA Violations
And more!
NOTE: This is the same video that will be included in the Spring 2024 Quarterly Compliance Update.
VIDEO 3: Activity from April 1, 2024 to June 30, 2024 (45 min)
FinCEN Issues Notice on Use of Counterfeit U.S. Passport Cards in ID Theft and Fraud
FinCEN Renews Targeting Orders
FATF Commits to Further Fight Money Laundering and Terrorist Financing
FinCEN Issues Analysis on Elder Financial Exploitation
FinCEN Reminds Institutions to Remain Vigilant to Environmental Crimes
And more….
NOTE: This is the same video that was included in the Summer 2024 Quarterly Compliance Update.
VIDEO 4: Activity from July 1, 2024 to September, 2024 (37 min)
FRB Fines Silvergate for AML Monitoring Deficiencies
FATF Issues Targeted Report on Implementation of Standards Involving Virtual Assets
FinCEN Issues Supplemental Alert Regarding Financing of Israeli Extremist Violence in the West Bank
FinCEN, OFAC, and FBI Issues Joint Notice on Timeshare Fraud Associated with Mexico-Based Organizations
Beneficial Ownership Information Updates
And more!
NOTE: This is the same video that will be included in the Fall 2024 Quarterly Compliance Update.
““Compliance Cohort delivers BSA/AML material in an easy-to-follow manner. The presenter adds clarity to regulations, practical solutions, and best practices. The material is current and broken down into segments that fit into the schedules of busy bankers. The accompanying manuals are excellent and well planned. The presenter does not read to the students, they focus on highlights which allows the student to read the remaining sections. The presenter adds levity to the delivery of the material.””
““Compliance Cohort delivers BSA/AML material in an easy-to-follow manner. The presenter adds clarity to regulations, practical solutions, and best practices. The material is current and broken down into segments that fit into the schedules of busy bankers. The accompanying manuals are excellent and well planned. The presenter does not read to the students, they focus on highlights which allows the student to read the remaining sections. The presenter adds levity to the delivery of the material.””
““I started my consulting company at the beginning of 2023. For over 15 years my education was paid for by my employer. Compliance Cohort was a complete life saver and game changer. Thank you for providing a channel for affordable and up to date education courses. I don’t know what I would have done without you!””
““For those of us like myself who are responsible for maintaining the BSA/AML Regulatory Change Log to evidence to Regulators and Internal Audits that we are keeping up to date with changes, this course is of great value as it presents a synopsis of all the changes that happened in the past six months. This makes it easier for me to update the log and double check that I did not miss any changes.””
This Compliance Class can be completed without leaving your office and provides you with everything you need to know about what BSA related activity took place during the prior year.
The class includes the following:
A comprehensive manual
A “virtual classroom” instructional video
60-day access to the class
Certificate of completion (1 per registration - available upon request)
All of our Compliance Classes are presented in our virtual classroom approach. This approach is designed to bring the presenter to you (at a fraction of the cost of having a live person) and includes a video of the presenter in front of a slide presentation that replicates a typical seminar environment. In addition, our presenters take a three-part approach to compliance instruction: to educate, to empower, and to entertain. This is achieved by focusing on relevant topics, speaking in simple to understand, layman's terms, and by keeping it light and humorous whenever possible. We have found that this "3-E" approach allow students to learn as quickly and effectively as possible. And, it adds a little bit of fun to an otherwise dreadful topic.
Certificates of completion are available upon request. One certificate is available per registration.
When you purchase this compliance class, you get instant access to the online version of this class for 60 days. You will also receive an electronic version of the accompanying manual to keep.
We believe in our training products so much that we are offering a 100% money back guarantee within the first 10 business days after purchase. If you do not feel that you received the value promised for this training session, contact us within the first 10 business days after purchase and we will either make things right or provide 100% of the purchase price back to you.
