No, Machines are Not Replacing Us - Financial Crime Compliance in the Now

Apr 16, 2019 12:30pm ‐ Apr 16, 2019 1:45pm

Identification: C24

Presented by Promontory, an IBM Company

  • Transform compliance programs to increase efficiency and effectiveness – what FCC professionals can do right now
  • Discuss industry best practices to address common challenges faced today in identifying financial criminals
  • Own the future and contribute to the bottom line – embracing technology, process automation and scalable managed services



Tackling Compliance with Technology: Data is Just the Beginning

Apr 16, 2019 12:30pm ‐ Apr 16, 2019 1:45pm

Identification: C25

Presented by Refinitiv

  • Evaluating internal and external data, and your organization’s readiness to adopt new technology
  • Preparing for successful data migration into a new system: questions to ask your data vendor and internal team
  • Key metrics and practical tips for maintaining data integrity within compliance technology platforms



Joint Solutions: A Multi-Pronged Approach to Banking Marijuana-Related Businesses

Apr 16, 2019 2:05pm ‐ Apr 16, 2019 3:20pm

Identification: C26

• Analyzing relevant FinCEN guidance on banking MRBs to ensure risk models meet regulatory expectations and identify potential conflicts with applicable state laws

• Training front-line staff on typologies such as commingling of bankable and non-bankable proceeds in order to strengthen risk-based monitoring related to marijuana

• Formalizing periodic reviews of MRB policies and procedures to keep risk models current and reflect institutional risk appetite and recent regulatory or legal developments


What the Future Holds: Skills and Knowledge to Keep AML Careers Advancing

Apr 16, 2019 2:05pm ‐ Apr 16, 2019 3:20pm

Identification: C27

• Developing and maintaining technological literacy to achieve proficiency in growing role of oversight and compliance tools such as analytics and data management

• Assessing emerging AML trends and needs to identify and acquire talent acquisition in areas such as coding, algorithmic screening and innovative products such as blockchain

• Leveraging AML resources with approaches such as strategic outsourcing and collaborating with law enforcement on investigations to meet growing oversight obligations


Operation Darkness Falls: Taking Down the Largest Fentanyl Vendor in the U.S.

Apr 16, 2019 2:05pm ‐ Apr 16, 2019 3:20pm

Identification: C28

• Analyzing the MH4Life organization’s use of the dark net and cryptocurrencies to detail changing mechanics of drug dealing enterprises

• Scrutinizing the organization’s money laundering process to detail role of digital currency exchangers in converting proceeds into fiat currencies and prepaid cards

• Examining the collaborative investigation by federal agencies to gain insights into law enforcement methods for fighting cyber-based financial crimes


Securities Focus: Analyzing SEC Actions on Oversight Adequacy and SAR Filing

Apr 16, 2019 2:05pm ‐ Apr 16, 2019 3:20pm

Identification: C29

• Probing SEC actions regarding deficient suspicious activity reporting to discern regulatory expectations for SAR filing on activities of independent advisers

• Standardizing definition of “reasonable suspicion” across enterprise to ensure SAR filing decisions conform to regulatory and institutional standards

• Applying lessons of enforcement actions to confirm oversight models are comply with requirements such as those governing reporting, recordkeeping and record retention


Review and Present the Impact of the Updated FATF Risk Based Approach to AML Compliance

Apr 16, 2019 2:05pm ‐ Apr 16, 2019 3:20pm

Identification: C30

Presented by Fiserv

  • Discussing how regulators and bodies like the FATF around the world are talking about the need for innovation to manage financial crime risk
  • Reviewing technology that supports compliance and innovates processes to help manage risk
  • Evaluating operational efficiency in the context of a risk based approach

Low-Cost Paths to Dramatically Improve Operations

Apr 16, 2019 2:05pm ‐ Apr 16, 2019 3:20pm

Identification: C31

Presented by PwC

  • Assess operational maturity, identify key action points within process and analyze current operational performance using industry-standard metrics
  • Implement a KEA Program focused on enhancing (K)knowledge, improving (E)fficiency across processes and elevating (A)ccountability through refinements in performance tracking and reporting
  • Exploring RPA, APIs, Scripting and other existing and readily available tools to optimize process efficiency and operational performance

Know Your Country: Managing the Complications of Venezuelan Sanctions

Apr 16, 2019 3:50pm ‐ Apr 16, 2019 4:50pm

Identification: C32

• Crafting unique Venezuela oversight systems, using resources such as Treasury’s Venezuela sanctions updates and promptly incorporating OFAC changes involving SDN List, blacklisted entities and assets linked to PEPs

• Conducting risk-based customer reviews to identify potential sanctions-related risks such as purchases of banned debts or accounts receivable owed to Vmulenezuela or PDVSA or invoice manipulation of otherwise permissible trades

• Reviewing FinCEN advisory on Venezuelan corruption to identify red flags such as government contracts with entities having no clear business purpose, unusually complex wealth management patterns and real estate purchases incommensurate with official salaries


Before You File: Creating a Support System to Aid Suspicious Activity Oversight

Apr 16, 2019 3:50pm ‐ Apr 16, 2019 4:50pm

Identification: C33

• Training staff on “appropriate and reasonable” testing to improve detection of anomalous transactions, abrupt shifts in client profile and other suspicious activities

• Creating standardized procedures for investigating and escalating alerts to produce uniform and thorough reviews that support institutional risk management goals

• Formalizing SAR filing-decision protocols to ensure they are based on gathered evidence, conform to institutional standards and reflect the views of affected parties