The new Customer Due Diligence (CDD) Rule deadline has passed, and with heightened regulatory expectations, properly managing higher-risk customers has never been more important. Regulators will be assessing the appropriateness and comprehensiveness of institution’s CDD policies, procedures, and processes to ensure compliance with the new rule. During this free workshop, former OCC examiner will cover best practices for identifying and quantifying risk, conducting enhanced due diligence and re-assessing high-risk accounts to improve your approach to risk mitigation.
This free workshop will cover:
- Effectively risk rating your customers/members based on multiple risk factors.
- Accurately identifying customers/members that present an elevated risk profile to your institution.
- Collecting and storing all information used to perform due diligence exercises, including information on beneficial owners.
- Performing and documenting ongoing enhanced due diligence activities.
- Monitoring the overall customer relationship, including transactional activity.
- Ensuring your data is accurate and complete.