OFAC for Community Banks

Recorded on May 11, 2017   |   With Tim White

OFAC for Community Banks

With Tim White
  • 1 Video
  • 2.0 hrs
Course description

ICB Credit: 2.5 CRCM

This is targeted training designed specifically with the community banker in mind, providing what you need to know and skipping coverage of what you don't. Tim will provide this important information in a fast paced easy to understand program with emphasis on clear and concise examples that gives precedence to addressing the regulatory\exam risks verses the unlikely risks of real OFAC hits!

In a community bank where your odds of encountering a real OFAC hit are minimal it doesn't make sense to spend a lot of time learning the number of business days within which you must file a report of blocked assets, what the annual reporting requirement is, or what all the general and special licenses are. Your time and resources are better spent focusing on precisely what you truly need to know and what you need to do to satisfy examiners and minimize your regulatory risk.

From performing, documenting, and updating your OFAC risk assessment to employing appropriate measures to detect matches to the list of Specially Designated Nationals (and other entities and individuals encompassed by individual sanctions programs), there are certain tasks you must perform and procedures you must implement. The Office of Foreign Assets Control doesn’t mandate the steps you take – their focus is purely on enforcement. It is your regulator that has specific expectations. This program will break it all down for you and help ensure you know what to do in order to be in compliance and why.

Webinar Reviews:

Tim always does an excellent job. - jnakonechy

Trainer was very knowledgeable - jplatek

Provided good resources for developing OFAC Risk Assessment. - training

Course Curriculum

OFAC for Community Banks
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Tim  White
Tim White

Timothy R. White, CAMS is Vice-President, Business Development and Sanctions for AML RightSource.

  • Has licensed AML and Sanctions Interdiction Software to over 1400 financial institutions.
  • Expert on OFAC/Sanctions issues and has addressed OFAC and BSA issues at conferences throughout the United States and internationally
  • Has published articles in;

    • ACAMS Today
    • ABA Bank Compliance Magazine
    • Western Banking Magazine
  • Member - ACAMS’ Certification Exam Task Force in 2010 and 2016. 
  • 2007 – Member, working group formed by the United Nation’s Al-Qaida Taliban Sanctions monitoring team pursuant UNSCR 1735 
  • 2006 - Addressed an EU-US Workshop on Financial Sanctions and Terrorist Financing in Vienna, Austria.
  • Provided training for the; Office of the Comptroller Currency and Federal Reserve Bank’s BSA/AML specialists on OFAC and BSA compliance technologies.
  • 2004 – Member, ABA’s BSA - OFAC Working Group on OFAC Examination Procedures
  • 2002 advised the FBI on interdiction software technologies
  • Chairperson 2012-2018 - West Coast AML Forum in San Francisco
  • Active certified member of ACAMS first graduating class.
  • Advisory Board Member 2019 – West Coast AML Forum in San Francisco