Preparing for a BSA/OFAC Regulatory Examination

Financial Services

Date: 18 Aug '20
Time: 11:00am to 2:00pm (GMT-08:00) Pacific Time (US and Canada); Tijuana
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This webinar will address steps a company can take in advance to optimize the progress of a BSA/OFAC regulatory examination. It will provide guidelines for positively and accurately representing your AML and OFAC programs to regulators for the most efficacious outcome.

Why Should You Attend

A BSA/OFAC regulatory examination can throw an unprepared financial institution into chaos and expose it to potentially expensive missteps.

This webinar will address what happens when the regulator arrives, how to handle questions, and how to document the examination. Materials include tools to organize for and track steps in the examination. It will guide you in putting a plan in place for the BSA/OFAC examination so that your organization will not be caught flat-footed.

This webinar combines experiences from examinations along with a tested approach to prepare your team – the AML/OFAC departments, documentation, agents, and business staff tasked with AML/OFAC responsibilities – to positively and accurately represent your AML and OFAC programs to regulators for the most efficacious outcome. At the end of the session, the instructor will invite your questions concerning BSA/OFAC examinations.

Areas Covered in the Webinar

  • The "rule book" of various regulators
  • Putting your plan in place before receiving the regulator’s call
  • Organizing your team: BSA/OFAC compliance staff, business staff with AML responsibilities, senior executives, agents
  • Consolidating information on your organization’s BSA and sanctions risks
  • Organizing all relevant information relating to the BSA/AML and OFAC programs
  • Preparing your team, including communications protocols
  • Undergoing the examination
  • Following up

Who Will Benefit:
  • BSA/AML Compliance Officer
  • Chief Compliance Officers
  • Internal Auditors
  • Operational Risk Managers

Learning Outcomes

Instructor Profile

William Schlameuss has over 20 years’ experience in regulatory compliance, including BSA/AML/OFAC. He has worked with a wide range of US branches of major foreign banking organizations from all continents, both as chief compliance officer and compliance consultant. He has a prior background in IT as manager and implementer of core banking and payment systems, as well as compliance-related systems. 

Mr. Schlameuss has extensive experience with State and Federal Banking regulators in examination preparation, assistance and response, including assistance in the remediation of written agreements for clients.

As a project manager Mr. Schlameuss has led BSA/AML audits, BSA/OFAC Model Validations, remediation efforts of BSA audit issues, and BSA/OFAC look-backs for international banks, both self-imposed and directed by regulatory authorities. Model Validations included Prime, FCRM, Patriot Officer, Actimize, and eGIFTS.

He has conducted the Annual 3130 Supervisory Reviews for Broker-Dealers of the US branches of major FBOs. Mr. Schlameuss is also a member of the Association of International Bank Auditors and the International Bank Regulatory Compliance Committee. 


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William Schlameuss

Consultant, ARC Risk and Compliance


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Ashutos Swain