I was wondering what other banks do for their annual BSA Training. We have been using the same video from Bankers Training & COnsulting Company for a number of years and it is getting old!!! I am looking for new ideas. The areas that I am training are Security and AUdit (non-cash handling individuals).

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JoAnne

Opinions posted are not necessarily those of my employer.

JoAnne,

There are several options:

1. Use a Bank consulting Company to provide customized training for your staff. There are organizations like American Bank Systems that will provide such training at a reasonable cost.

2. Use local FinCen agents to provide some limited training or in addition to your video.

3. Contact the FDIC, in some areas their auditors are willing to do limited talks on different subjects.

The last two options my not meet all your needs but would work well as additions to your current video or inconjunction with other in-house training.

Lisa

For security training, if you want to consider trying some different videos to provide a change of pace, we offer two in the BOL Banker Store.

The first is "Preparation Prevents Panic".

The second is "It Can Happen To You What You Can Do Before, During & After Crimes Of Violence".

A word of caution about using IRS-CID or other federal agents as trainers: their motivation is to establish a network of cooperative sources, not to protect your bank. While you have an obligation to file SARs when you deem necessary, you probably don't want your staff contacting law enforcement agents directly. These "chats" can lead to wholesale violations of the Right to Financial Privacy Act. Although staff members may have good intentions, they probably don't understand the rules or the risks to the bank. Don't lose control just to get a free training session--sometimes free is not the best price!

Thanks everyone for the suggestions. We have had FBI agents provide training to us in the past. I agree with Richard about these free "chats". They don't always have the best interests of the bank in mind when they are talking to us. I also found out after I posted my question, that we are looking at more computer based training for 2001. So the video may be a thing of the past!!! I also can use information form training seminars that I attend to provide training for my co-workers. Thanks again.

JoAnne

[This message has been edited by JoAnne (edited 02-14-2001).]

JoAnne,

You're right, Videos are becoming obsolete, check out the eLearning Network at www.bai.org. You'll find over 170 on-line courses relating directly to banking. This type of training is very effective and cost-efficient.

I agree that online training and CD ROM training can be very effective. The downside is that they are geared toward individual learning. Videos, on the other hand, can be watched individually, or as a group.

At our bank, we schedule training sessions for small groups, play the video, then have discussions, role playing, and use other exercises to bring the material to life and personalize it for our institution. Participants learn from each other and have opportunities to ask questions. We incorporate our own policies/procedures into the after-video discussion, too.

In your post you indicate that your training is for Security and Audit employees. I would focus my training on the technical requirements of cash transaction reporting as well as suspicious activity. Most of the videos and PC programs don't go into much detail about the types of transactions that should be considered suspicious. I would educate these employees about tax evasion and other forms of money laundering as they may be in a good position to help you identify illegal activity.

In another section on this site there was a Q & A about cashing checks made payable to a business and tax evasion. I would share this information with your employees and discuss whether or not this type of activity is occuring in your institution. This is not formal video or PC training, but it is relevant information that your employees can benefit from.

We are a 30 branch bank and we do training for BSA quarterly. Each quarter the focus is on something different. Cash reporting, monetary instrument sales, suspicious transactions .... I like to use quizzes that cause our employees to look at our procedures for the answers. This has proven very effective over the years. I also use a video on Money Laundering Awareness (from BTCC) once a year. The Operations Officers also get intensive training once a year on issues such as exemptions.

Hope this gives you some ideas.

Dolly Nugent
Citizens Business Bank

Joanne; There are a lot of great suggestions that have been offered here. I have viewed many videos but I feel they are too specific on some details like the CTR and the SAR. Let me tell you what I do for BSA. I monitoring compliance for five independent community banks and part of my responsibilities is to conduct annual training which usually involves 25 or more sessions to ALL employees of the bank. I have developed my own format (I use PowerPoint)that involves;
1. A recap of the Bank Secrecy Act and related acts
2. Requirements of BSA -reporting, recordkeeping, monitoring etc. (I don't get into how to fill out a CTR - one has only to follow the instructions) A copy is provided with the handouts.
3. Money laundering - what it is and how it is done.
4. Suspicious - What is it - how will you know it and examples
5. Suspicious Activity Reports - a copy with handouts
6. The bank's procedures for monitoring for suspicious activity
7. Know Your Customer - basic to every transaction iniated.
8. BSA risks - fines, civil & criminal, loss of charter etc.
9.OFAC - a risk assessment
10. Summary

This is strictly my format. You are welcome to use it - no guarantees.

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Allan D. Virr, CRCM

In 1995, Merrill Lynch came out with a video called "Money Laundering: Do you Really know Your Customer?" We purchased this video several years ago to use for BSA training, and now show it at all our new-hire orientations. It takes place in a brokerage house, but the lesson about knowing your customer is universal. This video is appx. 21 minutes long; it is well done, topical, well acted,and interesting enough to hold the attention of anyone in the bank regardless of job responsibility or level of knowledge. I have probably seen it 50 times, and I still enjoy it! If you are interested in obtaining it, you should contact Merrill Lynch directly. This video was recommended to us by the OCC.