Video Webinar: Bank Secrecy Act Training for the Board of Directors

There has been an increasing trend where examiners are strongly encouraging financial institutions to increase their compliance training efforts for the Board of Directors, especially in the area of the Bank Secrecy Act (BSA).  Bank Secrecy Act training for the Board of Directors, however, can be a challenging task. On one hand, the Board is ultimately responsible for BSA/AML compliance and should be appropriately trained in this complex and high-risk area.  On the other hand, comprehensive BSA/AML training can often take several hours to complete, which doesn’t work for Board members.

Directors need a training program that helps them to understand how to manage the Bank Secrecy Act and anti-money laundering programs of the organization.  This means that they need higher level training that identifies key points and avoids getting too detailed. Training should be designed in a way that an outside director without prior banking experience, can understand BSA/AML risks, be able to make informed decisions, and ultimately have effective oversight of the BSA function of the organization.  

As BSA is one of the highest areas of risk in most financial institutions, effective and efficient training for the Board is extremely important.  

Our Bank Secrecy Act Training for Board of Directors is designed to provide a overview of Bank Secrecy Act and anti-money laundering risks from the perspective of what a Director needs to know in order to have appropriate oversight of this high-risk area.  Plus, our comprehensive training is designed to be delivered to the Board in under 30 minutes.

How are Directors Trained Differently?

Our “Bank Secrecy Act Training for Board of Directors” is a comprehensive, but quick and to-the-point program designed to assist in training the Board of Directors on the Bank Secrecy Act.  The program includes an on-demand video (with a download option), a comprehensive manual, and presentation slides (Powerpoint) that can all be used for training the Board of Directors on the Bank Secrecy Act and anti-money laundering. The program actually provides two options to present the training to the Board:  

  1. First, financial institutions can play our pre-recorded video during a Board meeting. This can be accomplished by either playing our on-demand video (streaming from our site) or by downloading the full MP4 file (565MB) and playing it from your own computer (recommended).

  2. Alternatively, financial institutions can utilize our comprehensive training manual and slides in order to have a bank employee provide the board training in person.  If this option is chosen, the trainer can use our video as a guide of what their training could be like.

Understanding that Directors need an efficient and high-level overview for any type of training, this program is designed to provide comprehensive Bank Secrecy Act training for the Board of Directors in exactly 27 minutes.

Topics included in training include the following:

  • A Brief History and Overview of the Bank Secrecy Act

    • An Overview of BSA/AML

    • Applicable BSA/AML Laws

    • Other BSA Resources

  • The 5 Pillars of BSA

    • Internal Controls

      • Key BSA Areas (SARs, CTRs, and more)

    • BSA Compliance Officer

    • Training

    • Independent Testing

    • CDD (Including the 4 CDD Pillars)

  • Oversight of a BSA/AML Program

    • What a Director Should Look For

    • Three Areas a Director Can Focus On

Pricing

Cost: $199

A much more affordable option than bringing in a third-party live presenter, our video training program is the next best thing to a live presentation.  Unlike the traditional webinar where the presenter can’t be seen, our “virtual classroom” approach includes a video presentation by one of our consultants as well as a comprehensive hand-out than can be followed during the presentation.  Having presented many live Board training sessions over the years, our presenters make every effort to deliver the topic information in the most effective way for Directors - just like they would if they were actually in the Boardroom but for a fraction of the cost of actually being there.

What is included in this Compliance Class?

This training session can be completed in 27 minutes and provides directors everything they need to know about the Bank Secrecy Act and anti-money laundering rules. 

The training session includes the following:

  • A 27 minute video presentation that can be used for director training or as a guide for in-house presentation.

  • A comprehensive manual used during the training.  This packet can be provided to the Board as a supplement to the video presentation and can be used as “proof” of comprehensive training for examiners.

  • Slides that can be used for management to present the training themselves.

  • Links to download the manual, slides, and video files.

The Virtual Classroom Approach

All of our Compliance Classes are presented in our virtual classroom approach.  This approach is designed to bring the presenter to you (at a fraction of the cost of having a live person) and includes a video of the presenter in front of a slide presentation that replicates a typical seminar environment.  In addition, our presenters take a three-part approach to compliance instruction: to educate, to empower, and to entertain. This is achieved by focusing on relevant topics, speaking in simple to understand, layman's terms, and by keeping it light and humorous whenever possible.  We have found that this "3-E" approach allow students to learn as quickly and effectively as possible. And, it adds a little bit of fun to an otherwise dreadful topic.

60-Day Access

When you purchase this compliance class, you get instant access to the online version of this class for 60 days.  Unlike some of our other classes, this class provides an option to download the original MP4 video file so that you can present the video directly from your own computer instead of streaming it. This ensures a smoother presentation and allows you to provide this training when it is convenient for your Directors.

100% Money Back Guarantee

We believe in our training products so much that we are offering a 100% money back guarantee.  If you do not feel that you received the value promised for this training session, contact us within the first 10 business days after purchase and we will provide 100% of the purchase price back to you.