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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.
Tim always does an excellent job. - jnakonechy
Trainer was very knowledgeable - jplatek
Provided good resources for developing OFAC Risk Assessment. - training
OFAC for Community Banks
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