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MSBs/NBFIs as Bank Deposit Customers:
The New Guidance

Presented by:
Ken Golliher
May 13, 2005
        11:30AM-1:30PM PT
        12:30PM-2:30PM MT
        1:30PM-3:30PM CT
        2:30PM-4:30PM ET

Materials (only available to registered users)

Recent interpretive guidance on providing banking services to money service businesses (MSBs) clarifies a number of issues. Clearly, banks must identify their non bank financial institution and MSB customers. However, they must perform a risk assessment on each of those customers. It is the result of that risk assessment that determines the level of due diligence a particular MSB customer merits.

This webinar focuses on the expectations of the regulatory agencies; i.e. what they expect to see in bank compliance programs where the depositor is a domestic MSB. It's an updated version of an extremely highly rated program that was presented on BOL just a few weeks ago. The manual is highly detailed and attendees indicated the sample forms it includes were invaluable in their compliance efforts.

Program content is aimed at helping bankers identify their MSB customers and then communicating with them regarding their responsibilities. The presentation also emphasizes the importance of state requirements for licensure, a point the Interagency Guidance emphasizes. It will also help participants in developing an appropriate risk assessment program, one where they can document their findings and justify their conclusions.

Major issues addressed are:
  • Identifying NBFIs
  • MSB definition
  • MSB legal requirements
  • Identifying MSBs
  • Establishing due diligence requirements at the customer level
  • Developing monitoring programs
Who Should Attend?
The expected audience is bank compliance officers, Bank Secrecy Act officers and auditors. It might also be helpful to bank management and marketing personnel who are attempting to balance their desire to maintain customer relationships against the related costs and complexity of the effort. The program is not designed for MSB personnel. The program does not address bank/MSB relationships other than deposit accounts.

About the speaker:  Ken Golliher
Ken Golliher is a principal with Pegasus Educational Services, LLC, a training firm headquartered in Louisville, Kentucky. He is an experienced banker with a unique ability to reduce complex legal concepts to plain English. He has explained the "why" and "how" of regulations to thousands of financial institution personnel and examiners. Ken's banking career began in 1972 and includes serving as a teller, commercial operations manager and as trust department legal counsel in a state and a national bank. For ten years he headed the education division of a regional consulting firm for financial institutions. He has served on the faculty of the LSU Graduate School of Banking, the OTS' Level I Compliance School and the FDIC's Advanced Consumer Protection school for examiners. He has presented seminars in more than 25 states and has served as an instructor at compliance schools sponsored by the Illinois, Indiana, Georgia, Kansas, Kentucky, Nebraska, Pennsylvania and Texas bankers associations. He is one of the moderators for the Bank Secrecy Act forum at http://www.bankersonline.com



CPE Credit:
This program is recommended for 2 CPE credits. CPE credit is only granted to registered users. You can contact Carin Eisenhauer for a certificate of completion.

About the seminar:
Each registration comes with ONE access to LIVE event and 30 days of unlimited access to the ARCHIVE event. If you wish to have multiple locations participate you must have one registration per location. If the complete broadcast is received via the computer the AUDIO and VIDEO COMPONENTS can be connected to a A/V projector to allow multiple participants to view the conference. If the audio portion of the broadcast is received via the telephone the AUDIO portion can be placed on speaker phone to allow multiple participants. Interactive components delivered via Web include slides, online polls and Interactive Q&A via chat.

You may view the ARCHIVED Presentation of this training event as many times as you wish throughout the next 30 days. This will enable you to participate in the LIVE event as well as train additional staff from the ARCHIVED event.

Handouts will be provided and we welcome questions during and after the seminar, as well as in advance. Questions received after the seminar will be posted on a special Web page for later viewing by seminar attendees.

Refund Policy: All registration changes or cancellations are subject to a $20 processing fee. Registration cancellation requests made in writing (email is acceptable) at least 10 days prior to the event will receive a full refund minus the $20 processing fee. For cancellation requests made less than 10 days prior to the event, registrants may elect to receive an ARCHIVED On-Demand view of the event or a credit toward a future event.

If there is a complaint regarding the program, participants should contact Carin Eisenhauer, BankersOnline.com. at 405-348-0269 or email carin@bankersonline.com


Bankers Online Learning Connect is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Nashville, TN, 37219-2417. Web site: www.nasba.org

Prerequisites: None.

Contact Information: Billing questions can be directed to Carin Eisenhauer, carin@bankersonline.com. All other questions may be directed to mpetry@bankersonline.com

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