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Webinar

Is the Juice Worth the Squeeze? How to Manage Your Sanctions Risk Appetite

Sanctions compliance is always a delicate balance between regulatory concerns and how much risk your company is willing to take on to increase revenue. The answer is often unique to the region, industry and company. It isn’t uncommon to see the appetite to increase revenue take priority over assuring proper procedures and controls. That imbalance can bring about apparent sanctions violations that could lead to enforcement actions, fines and sometimes criminal consequences. Our speakers take you through what you should consider when taking a risk-based approach. They will also talk about a few lessons learned from recent cases that you can apply to your program. How far should you go before you have bitten off more than you can chew and the regulators come knocking at your door?

Duration: 75 minutes

Speakers:
Becki LaPorte, Co-Founder and CEO, Exodus Partners Group
Chris Bagnall, CAMS-FCI, CFE , Sojourn Technologies

Moderator: Natasha Bright, Reporter, ACSS

CSS Credits: 1

Date: Thursday, May 27, 2021

Time: 9:00 AM – 10:15 AM New York (EST)

02:00 PM – 03:15 PM London (GMT)

03:00 PM – 04:15 PM Amsterdam (CET)

Learning Objectives:

  • Describe regulators’ and OFACs’ expectations of a risk-based program
  • Determine compliance controls to consider mitigating inherent sanctions risk
  • Apply lessons learned from enforcement cases to influence risk appetite

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Becki LaPorte

Co-Founder and CEO

Exodus Partners Group

Becki is the Co-Founder and CEO of Exodus Partners Group, a consulting firm with a wide range of consulting services and training offerings focused on deterring and combating financial crime. Most recently Becki worked at a technology company, but most of her career has been in the financial services industry. She served as the Chief AML Officer for Advisor Group, one of the largest networks of independent broker-dealers in the United States. Her team was responsible for reviewing and investigating activity across the financial crime spectrum including AML, fraud, and sanctions. Becki has also served as an Associate Director and Lead Compliance Trainer for FINRA®. FINRA® is the largest independent regulator of the securities industry in the United States. She developed and delivered training and provided guidance and consultation on open examinations and investigations specific to fraud and AML. She possesses over 20 years of financial services experience. She is a Certified Financial Crime Specialist (CFCS) where she also serves as a member of the ACFCS Advisory Board.

Chris Bagnall

CAMS-FCI, CFE

Sojourn Technologies

Chris has a Bachelor’s and Master’s Degree in Criminal Justice and started his anti-financial crimes career in 2007. He previously held roles for two Chicago-based mid-size commercial banks – The PrivateBank and Trust Company (now CIBC) and MB Financial Bank (now Fifth Third) – that allowed him to gain extensive experience building and reforming BSA/AML and Economic Sanctions programs. This included transaction monitoring/detection technology and analytics, Financial Crimes Risk Assessments, EDD and Investigations, Quality Assurance/Control testing, training & awareness, and exam/audit management, among many other initiatives. Chris also held a role with Fifth Third as the Director of Economic Sanctions, focused on enhancing the Economic Sanctions program. These opportunities have allowed him to work closely with the OCC, FDIC, and Federal Bank examiners and gain extensive experience dealing with industries such as MSBs, TPPPs, and Prepaid Cards. Chris is currently working with a group of financial institutions and technology companies in support of innovation, collaboration, and transparency across the financial crimes compliance space.