OFAC: Risk Assessments, Policy and Procedures

OFAC continues to be a "hot" examination button. This program will look at a comprehensive approach to OFAC. How to write your policy, do your risk assessment, and set up monitoring on a day to day basis. You will learn about emerging OFAC threats and how to address those issues internally through training and procedures. This is a must for all OFAC personnel.

Covered Topics:

  • When is OFAC required?
  • What is a risk based OFAC program?
  • OFAC policy, procedures and processes
  • Checks, Loans, IRAs, PODs and more
  • International ACH transactions - who checks what?
  • Emerging OFAC threats
  • Due diligence steps on OFAC
  • What is a Foreign Sanction Evader?
  • What do we have to do for noncustomers?
  • If we get a match what reporting is required?

Who Should Attend?

BSA Officers, BSA Support personnel, Deposit Operations, Compliance Officer and Training