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Course description

Is your OFAC program geared up for the latest exam requirements?


This fast pace 2 hour webinar will provide best practices and hands-on tips for reassessing all areas of your institution's OFAC compliance program, including new concepts for explaining your institution's; OFAC risk assessment; mitigating risk factors; monitoring practices and policies. Tim will address how to respond with a "risk based" approach to several specific exam trends that can quickly create great inefficiency within your OFAC monitoring programs if left unchecked.


Tim's presentation will focus on best practices for updating your OFAC program in this fast-changing compliance arena, and how to address the hot spots that hold the greatest risk for regulatory criticism and OFAC violations for financial institutions of all sizes. These tips and best practices for reducing inherent OFAC risk will enable attendees to take immediate steps to determine what approaches might be the most efficient, economical and best suited for their institutions' OFAC programs.


Tim's practical guidance on actual monitoring practices will enable attendees to get beyond the risk-based riddle posed by the FFIEC Examination Manual. Tim is an enthusiastic proponent of risk based BSA & OFAC regulatory compliance and understands that a knowledgeable risk base program can be both efficient and economical. The key is to thoroughly understand all the factors that affect each OFAC risk exposure and how each of these dynamics impact the IT environment and monitoring burdens of the OFAC compliance professional.


During this presentation, Tim will discuss the OFAC risks and monitoring concepts of the following products and services:

  • Remote Deposit Capture (RDC)
  • International ACH transactions (IAT)
  • Domestic ACH transactions
  • Correspondent Banking
  • Wire Transfers
  • Pre-paid Cards
  • E-banking
  • Mobile Banking
  • New account openings
  • Cashing "on-us" checks
  • Letters of Credit
  • Non-Customer Transaction
  • Loan Originations
  • Cashier's Checks
  • SWIFT messages

Webinar Objectives 

  • Understand why OFAC compliance is so challenging
  • Understand how to communicate risk base OFAC policies and monitoring practices to your examiner
  • Understand the factors that influence and reduce your institution's inherent OFAC risk
  • Understand regulatory risk and the risk of an actual OFAC violation and the difference between the two.

This webinar will also address:

  • Why OFAC's sanctions are becoming a more important in BSA exams
  • Enforcement and penalty guidelines
  • Lessons learned from both large and small enforcement actions
  • Why the ING enforcement action penalty was $ 619 million
  • How OFAC risk assessment differs from AML/BSA risk assessment
  • Risk-based decisions and documentation for OFAC compliance
  • OFAC filtering guidelines within the FFIEC BSA/AML-exam manual

This webinar is designed for financial institutions of all sizes and will provide practical guidance for monitoring and help you understand many of the fundamentals that are often overlooked in OFAC presentations.



You'll learn what's new, what's different, and what you now need to focus on. Considering all the new developments in the compliance arena, it's easy for something to slip through the cracks. This program will help provide the peace of mind you need by knowing you are one step ahead and prepared for anticipated changes within your next BSA-OFAC exam.


Who should attend? This session is designed for:

  • Compliance officers including OFAC/BSA/AML officers
  • Risk management and/or fraud officers
  • Senior management
  • New & experienced compliance auditors
  • ACH operations management
  • New and experienced regulators

Instructor(s)

Tim White

Timothy R. White, CAMS is a BSA & OFAC Automation Specialist for Banker's Toolbox, Inc., a leading provider of BSA & OFAC automation to the financial institution marketplace. Tim has licensed BSA and OFAC compliance software to over a 1,400 financial institutions since 1994 when he started working in the OFAC compliance arena.Tim is an expert on OFAC and has addressed OFAC and BSA issues at conferences throughout the United States including BOL's BSA Top Gun Conference. Tim has published articles in the ABA Bank Compliance magazine, ACAMS Today and Western Banking magazine. In 2011 Tim was a member of ACAMS' certification exam re-write task force. In 2008 he was a member of a working group formed by the United Nation's Al-Qaida Taliban Sanctions monitoring team pursuant to UNSCR 1735. In June 2006, at the request of the US Department of State, he addressed an EU-US Workshop on Financial Sanctions and Terrorist Financing in Vienna, Austria. In 2005, Tim provided training for the Federal Reserve Bank's BSA/AML specialists on OFAC compliance technologies. In 2004 Tim was a member of the ABA's BSA - OFAC Working Group on OFAC Examination Procedures. In 2003 he addressed BSA and OFAC as a faculty member of NACHA's Payments Institute. In 2002, Tim consulted the FBI on interdiction software capabilities within the financial institution marketplace. In 2001, while working for Thomson Financial Media, and in conjunction with First Data Western Union, Tim wrote the original product requirements for the first international interdiction database called Global Regulatory File, (now Accuity's Global WatchList); the first commercially marketed international sanctions database. Tim is the current Chairman of the West Coast AML Forum Board of Directors and is an active certified member of ACAMS first graduating class. Tim has been a presenter at more than 100 conferences, webinars and regulatory forums in the past 15 years. After earning a Bachelors of Business Administration Degree from the University of Iowa he attended Xerox's International Management Center in Leesburg, VA.

Course curriculum

  • 1

    Video

    • OFAC Compliance in 2014: Examiners are expecting even more!

  • 2

    Materials

    • Slides

    • Questions and Answers