COMPLIMENTARY WEBCAST
How to Enhance your Compliance Program with the Recent Sanctions Screening Guidelines
In light of the complexity of international sanctions regulations, the Wolfsberg Group recently released revised guidance for financial institutions as they assess the effectiveness of their sanctions screening controls.
Topics covered by the guidelines provided by these thirteen global banks include, “what is meant by sanctions screening, looking at both reference data and transaction screening, the timing of screening, technology and the use of automated systems, the criteria for alert investigation, as well as testing and quality assurance."
How can financial institutions use these guidelines to enhance their program? In this webcast, Chad Shafferman, Head of Risk Proposition Specialists at Refinitiv and Andrew Simpson, Chief Operating Officer at CaseWare RCM, will review some of the points covered in the Wolfsberg document and provide concrete actions that financial institutions can take to improve the effectiveness of their sanctions screening program.
Topics covered in this discussion will include:
- Where sanctions screening fits in a broader financial crime compliance program
- What is the OFAC 50% rule and how to incorporate it into your program
- Factors that impact the effectiveness of a sanction screening process and how to address them
- How to adapt your sanctions screening program for changes in high-risk jurisdictions like Venezuela
- Steps to improve the quality of alerts and reduce the time it takes to review them
- What does good customer, third-party and transaction data look like and how can they improve investigations
- How to leverage workflows, metrics and reporting to continually improve the effectiveness of the program
- Things to consider when deciding the level of automation for sanctions screening
Webcast Details
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Date
Wednesday, March 6, 2019 -
Time
2:00 PM ET (1:00 PM CT / 11:00 AM PT) -
Duration
60 minutes -
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Speakers
Chad Shafferman - Head of Risk Proposition Specialists at Refinitiv
Chad is Head of Risk Proposition Sales for Refinitiv. He has been with the company (formerly the Financial & Risk business of Thomson Reuters) for 8 years and is focused on risk management solutions that encompass regulatory change, customer and third party risk, KYC, anti-money laundering, and financial crime.
Chad holds an MS in Finance and a BS in Economics from Texas A&M University. He currently resides in Austin, Texas.
Andrew Simpson - Chief Operating Officer at CaseWare RCM Inc.
Andrew Simpson has over 20 years’ experience building businesses in the fields of information systems audit and security, data analytics and interrogation, AML and forensics. He is a regular contributor to conferences and a recognized thought leader in financial crime management.
Andrew previously worked at Ernst & Young as an IT Security Specialist and maintains his position as Founder & Chairman of Symptai Consulting, a 20 year-old IT audit and security consulting firm. He has an MBA in Banking and Finance from the University of Wales and Manchester Business School and a Bachelor’s degree in Computer Science and Mathematics from the University of the West Indies.
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