Balancing compliance risk & reward with high-risk businesses
Seeking growth for shareholders, or to say “yes” to long-term clients, financial-institution leaders may look to high-risk, legal markets as new target segments. Even without a concerted focus on these businesses, chances are, your client base today unintentionally includes some of these relationships given their rise in number.
These emerging markets – Hemp, Cannabis, Private ATMS, Money Services Businesses, Crypto or others – also come with additional compliance and BSA/AML risks. How can your institution balance the investment in growing these markets for the financial institution with the investment in a commensurate risk program? What do examiners look for in supporting BSA/AML risk programs? Watch this on-demand webinar, featuring RiskScout and Abrigo, to walk through both the highs and lows of high-risk businesses and what they might mean for your institution.
Watch this webinar to learn:
- Which types of customers are considered high risk by examiners and/or your Board
- How each high risk market differs and what might make each attractive
- How do examiners evaluate these programs during examinations
- What BSA/AML practices need strengthened ahead of entering new markets
This session is eligible for 1 CFCS credit and 1.25 CAFP, CERP, CRCM credits.
Kristin Parker
Director of Compliance
Kristin Parker has been a pioneer in the compliance banking community since 2014 and spent the last several years of her career specializing in banking higher-risk industries as a community bank BSA Officer. In early 2019, she successfully created and implemented one of the first Federal Reserve Bank approved hemp
