Banking High Risk Businesses
Monday, July 29, 2019
12:00 pm – 1:00 pm Eastern 

Under an enterprise risk management program, certain industries, geographies, or business activities may be identified as presenting higher than normal risk characteristics. Risk management procedures differentiate based on a customer’s risk profile. It starts by taking steps to ensure you know who you are dealing with, understanding their activities and assessing their risk to your institution.  

What is your organization doing now to identify and manage higher risk customers? What practical controls should be in place to minimize risk?   In this webinar, we will provide practical guidance and regulatory expectations for banking high risk businesses.  We’ll   outline best practices for small banks and organizations for evaluating customer risk and enhancing the institution’s oversight and operational processes regarding high-risk customers.
Topics Covered:

• The four categories of high-risk industries
• Understanding and monitoring customer risk
• Enhanced due diligence requirements for high-risk customers
• Regulatory expectations for banking high risk businesses
• How to reconcile regulatory guidance with the real-world risk of banking MSBs
• Hidden sources of chargebacks
• KYC and risk rating functions for high risk customers
• Regulatory highlights on AML de-risking
• Constructing inclusion models that meet regulatory expectations and mitigate institutional risks

Speaker:

Dena Somers, Esq / Founder finreg PARTNERS

Dena Somers is a highly regarded bank consultant and compliance attorney. She has provided regulatory compliance and risk management consulting services to financial institutions and companies in highly regulated industries nationwide for more than 20 years. Her areas of expertise include consumer and mortgage lending compliance, Fintech and specialty finance, regulatory compliance training, business strategy and best practice advisement, and corporate governance.

Throughout her career, Ms. Somers has advised hundreds of banking and financial institutions— ranging from local community banks to $50 billion financial holding companies— to achieve operational efficiency while ensuring regulatory compliance. Previously, Ms. Somers served as General Counsel to a national mortgage servicing company, Fintech lender, national money service business, and has represented financial institutions in a broad array of complex litigation matters for more than 15 years. Additionally, Ms. Somers is a published author for Lexis Nexis in the areas of Bank Teller training, loan policies, and loan documentation training.

Attendance verification for CE credits provided upon request.

Webinar Sponsored by BankersHUB

If you are having issues with registering online, please contact CBAO's Education & Training Coordinator, Lianne Simeone, (614) 610-1877