Bank Secrecy Act Compliance for Volunteers

RELEASE DATE: AUGUST 5, 2024
ESTIMATED DURATION: 60 MINUTES

Although probably not at the top of your priority list as a credit union volunteer, the requirements of the Bank Secrecy Act must be taken very seriously by the credit union and staff. The Board of Directors is ultimately responsible for the Bank Secrecy Act and Office of Foreign Assets Control  (OFAC) programs, the Supervisory Committee must ensure that the policies set by the Board are being followed. This program is tailored to meet regulator expectations regarding the role of volunteers with these mandatory programs the credit union is required to follow. In this program you will learn about the need to create a “Culture of Compliance” from the top down, understand the need for proper designation of a qualified compliance officer, and the importance of providing adequate resources.

This webinar was created for all credit union volunteers: Board, Credit Committee, Supervisory Committee;  Credit union support staff who do not handle member transactions may also benefit from the information presented here.

MEET THE PRESENTER

Mary-Lou Heighs founded Compliance Plus, Inc. to help credit unions with the always changing world of compliance.  She joined the credit union movement in 1989 and has worked as a loan officer, marketer, collector as well as almost every position within credit unions.  After working in credit unions, she transitioned to the Research and Information department for the California Credit Union League where she provided compliance assistance to all California and Nevada Credit unions.  As President of Compliance Plus, Inc. Mary-Lou now provides compliance training all over the country for various Leagues and credit unions nationwide.