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Banking Compliance Failures

Monthly on selected Mondays at 1:00 p.m. Central Time in two CPE event

The level of fines levied against banks resulting from failure to comply with various regulations has soared, reaching into the billions of dollars in individual instances.

Every bank organization is responsible for compliance with a wide variety of regulations. Compliance failures are risks to both the bank's reputation and its stockholders.

There is an increasing discussion that, rather than punish stockholders, individual officers should be personally held accountable for their decisions in causing failures to act in compliance. Already the Sarbanes-Oxley law specifically requires that companies, including banks, have accurate financial reports as well as sound controls which are required to assure the material accuracy of those reports. CEOs and CFOs have to personally sign statements to that effect and can be charged personally under some circumstances.


Jim George in his career was frequently brought in as a consultant or as a Senior Executive to take over non-compliant operations or to establish projects to fix non-compliant operations. Sometimes this happened after a specific executive was fired. At other times, he was able address the problems in time to avoid ending anyone's career.


It is said that a smart person learns from his/her mistakes, but a wise one learns from others' mistakes. This is a chance to learn from many other people's hard experience.


This timely, two hour CPE training event is designed for the internal auditor, compliance professional and others who wish to improve their AML and BSA tradecraft skills.

The retail cost of the online 2 CPE internal auditor training event is $120 per attendee.

Each attendee will receive 2 CPE Hours (YB). A certificate of completion will be provided.

Program Level of Understanding: Basic
Prerequisites: None
Advance Preparation: None
Delivery Format: Group Internet Based
NASBA Field(s) of Study: Business Ethics
CPE Credits: 2, based on 50 minutes of instruction per hour

CPE Event Highlights

The event covers compliance failures that can occur in any financial institution. The event will cover:

  • Common AML compliance failures.

  • Extraordinary AML compliance failures (intentional at the executive level).

  • Widespread SOX failures (Sarbanes-Oxley Act) primarily control breakdowns leading to reconciliation breakdowns and incorrect reporting.

  • A broad failure of licensing controls where the company providing insurance products in the name of several major banks did not know which products were licensed is which states.


Learning Objectives

This CPE training event will provide valuable assistance to all personnel with anti-fraud responsibilities in banks or other financial institutions. It will cover the following learning objectives:

  • Understanding what causes bank compliance failures,

  • How can banks identify the signs of compliance issues,

  • How do compliance issues be address to eliminate the root cause.


Key Items on the Agenda

The major agenda items within this intense CPE training event are answering:

  • What was the cause of the compliance failure?

  • How was a problem identified (red-flags, check list items, audit steps) and communicated internally (escalation process)?

  • What was done with regard to communication with regulatory authorities?

  • What did it take to investigate and address the failures?

  • What internal controls and risk mitigation steps were taken to prevent recurrence?