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Upcoming Webinar

Upcoming Webinar

Managing Sanctions Risks in Correspondent Banking Transactions

Managing Sanctions Risks in Correspondent Banking Transactions

Date: Thursday, April 16, 2020

Time: 12:00 PM – 01:15 PM EST | 05:00 PM – 06:15 PM London
06:00 PM – 07:15 PM Amsterdam

Conducting business with foreign correspondent banks is a common aspect of international trade and an integrated global financial system. Unfortunately, maintaining relationships with such correspondent banks comes with a certain amount of compliance risk.

Screening transactions that go through foreign affiliates can be challenging and bad actors will create complicated payment schemes, such as layered corporate entities and shell companies, in order to gain access to the international financial system. Some of these business structures are so complex it can be difficult to find the actual beneficial owner. It is essential that financial institutions and corporates alike institute strict know your customer processes and conduct thorough risk assessments to manage the risks associated with correspondent banking transactions.

In this ACSS Webinar, our expert speaker will take you through the vital aspects of a sound sanctions compliance program, how your institution can ensure it is managing risks caused by its correspondent banking relationships, and provide actionable advice you can apply to your daily compliance tasks.

You will learn how to:

  • Assess the Sanctions risk of each correspondent relationship
  • Keep up to date on changes in Sanctions
  • Have periodic reviews and assessments
  • Create a communication flow in the correspondent relationship

Event Registration

Members of the Association

This webinar is included in your membership and you will be sent login details by email a day before the webinar.
If you would like to register for the webinar in advance, so that it is entered into your calendar, please click for self-registration.

Non Members of the Association

You must be a member in order to attend this webinar. To learn about ACSS membership, click here or join now

Sign up today! Tell your friends, clients, customers and colleagues about it.

ACSS webinars conduct audience polls that will give you vital benchmarking data so you can measure your sanctions compliance against others.

Registered attendees can request a Certificate of Attendance to demonstrate training to auditors and regulators.

For any assistance please

Joe Soniat, CAMS
Account Risk Management Sr. Associate
Federal Reserve Bank of New York

Mr. Soniat (Joe) is the Account Risk Management Sr. Associate at the Central Bank International Account Services at the Federal Reserve Bank of New York when he helps to lead and develop the Anti money laundering team. Formerly Mr. Soniat was Vice President and BSA / AML Officer for Union Bank and Trust; one of the largest community banking organizations in Virginia for fourteen years. He also worked as a Finance Officer for the United States Government.

Mr. Soniat was a founding member of both the U.S. Capital Chapter and Virginia Chapter of ACAMS as the Co-Chair. He was co–award winner of the Article of the Year for ACAMS in 2013 and received the 2017 ACAMS professional of the year award.

Duration:

75 minutes

Moderator:

Natasha Bright, Content Writer, ACSS

Are you an ACSS Member? This Webinar is included in your membership. Members do NOT need to register for this webinar to attend, but will receive complimentary log in details via email.