Credit Union Webinar: Avoid SAR Disasters
The Suspicious Activity Report (SAR) is one of the most important pieces of effective BSA programs. It is not only crucial for credit unions, but also for regulatory bodies and law enforcement agencies who rely on these reports for their investigative work.
Ensuring your credit union’s SAR procedures are effective and compliant is a complex challenge, with potential consequences including regulatory fines, financial setbacks, and reputational damage. To address these challenges, it’s essential to establish a solid foundation of robust factual findings, meticulously documented behaviors, and clear communication.
In this webinar, we unveil strategies to help you avoid SAR disasters. Our presenter, Bill Elliott, offers guidance on best practices for examining suspicious activities and making well-informed decisions when submitting SARs to the proper authorities. This webinar will equip you with the knowledge and tools to navigate the complex world of SARs and mitigate potential disasters.
What You’ll Learn
This webinar will cover the following learning objectives:
- Master SAR Fundamentals: Gain a deep understanding of the significance of SARs in combating financial crimes. Learn when to file a SAR, how to complete one correctly, SAR writing guidelines and etiquette and the process for filing SARs.
- Understand Best Practices: Acquire strategies for optimizing your institution’s SAR reporting and mitigating the associated risks effectively.
- Establish Alert Escalation Processes: Establish standardized procedures for escalating alerts to ensure consistent and timely responses, ultimately reducing false positives in SARs.
- Analyze Escalated Alerts: Learn to scrutinize escalated alerts for insights into the nature of suspicious activities and the associated entities. Gain an understanding of investigative processes and how to authenticate supporting documentation.
Bill Elliott, CRCM, Director of Compliance Education
Bill Elliott is a renowned expert in financial compliance and risk management with more than 40 years of banking experience. In his role, Bill leads compliance seminars, conducts comprehensive compliance reviews, provides in-house training and authors compliance articles and training materials.
Young & Associates has been a leading firm in financial institution consulting for more than four decades. Our team of experts is committed to helping credit unions like yours thrive in the ever-evolving financial landscape.
Questions? Complete our Contact Us form or call (330) 678-0524.
Avoid SAR Disasters
When: November 20, 2023, 1:00-2:00 p.m., EST
Who is it for: This webinar is tailored for a broad spectrum of professionals, including BSA/AML Officers, Risk Managers, Compliance Officers, and Credit Union Management. It is also beneficial for anyone engaged in your institution’s SAR reporting and compliance activities. The content is designed to cater to individuals at various experience levels, whether they possess a foundational understanding of BSA/AML or have more advanced expertise in these areas.
Price: $249 per webinar hook-up
Are you registering as a group? Individuals should be registered separately. For assistance with group registrations, please contact Young & Associates.
About Young & Associates
Young & Associates is a national leader in financial institution consulting, outsourcing and education. We provide trusted expertise you need to manage risk, stay compliant and position for growth and profitability. Find out more about Young and Associates.
