Efforts in Reducing the Negative Impact of Loss of Correspondent Banking Relationships in The Caribbean: The Supervisors and Financial Institutions Role

1. Overview

The objective of the training is to address, from a practical standpoint, the risk of losing correspondent banking relationships (the de-risking phenomenon) in the Caribbean region, from the perspective of the Bank Supervisors and the Correspondent Banks.

The course also seeks to generate awareness about the current challenges in the Caribbean, in both Regulatory & Supervisory Authorities and Financial Institutions; and identified weaknesses related to the de-risking phenomenon. The course, will facilitate the exchange of experiences within the participants and between the participating institutions, to gain a better understanding of their perception about the objectives set for the Training Program (TP), the weaknesses identified, and their possible solutions.

Moreover, given the existent interrelation of disciplines between the issues addressed by the TP, this course will include presentations/analysis of the possible solutions to the de-risking problem.

2. Topics:

1. Weaknesses identified in the Regulatory Supervision Authorities. What the Recommendations and FATF Expect from a Jurisdiction.
2. The importance of AML supervision as a tool to reduce De-risking.
3. The difficulties caused by the application of new technologies by the supervised entities and their clients.
4. AML/CFT supervision: methodology and standards.
5. Effectiveness of the AML/CFT supervision: How important it is to impose sanctions?
6. Weaknesses identified in Financial Institutions. The Correspondent Bank Vision.
7. Effectiveness of the Internal AML/CFT System: A Way to Reduce De- Risking.
8. The Cost of Compliance. What the international regulators and correspondent banks expect from their counter parties.
9. Exchanging of CDD information between Caribbean Respondent FI: A future possibility or a current fact?
10. AML ongoing controls: importance, methodology and relation with the Caribbean De-risking

3. Date and venue

November 19 – 21, 2019 (2 ½ - day course). Kingston, Jamaica

4. Host:

Bank of Jamaica.

5. Instructor

Association of Supervisors of Banks of the Americas (ASBA).

6. Main qualification requirements

• The course is aimed to representatives of the regulatory and supervision authorities and financial institutions representatives of the Caribbean.
• Be part of the Compliance Department on its institution.
• 3 years of job experience in AML/CFT areas.
• Direct contact with supervised institutions.
• Previous formal training in AML/CFT.
• Participation in decision making of the institution he/she represents.

7. Pre-reading material

This course has pre-reading materials, which will be distributed in advance to the participants.

8. Language

This course is in English only. No simultaneous interpretation service will be available during the sessions.

9. Application process

1. Request to your training coordinator an access account for the ASBA’s Activities Manager.
2. Once you have your username and password, access the Activities Manager through the following link www.asbaweb.net
3. Complete your profile and personal information.
4. Make your application to the selected course during the registration period.
5. For more information, see the User’s Manual, available at the Annual Training Calendar.

10. Registration Deadline

October 30, 2019.

11. Maximum quota

The course is limited to 45 participants who will be selected based on their meeting of the Minimum Qualification Requirements on a first-come firstserved basis.