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

Information and Registration Procedure for Banks and Other Financial Institutions Officials Only

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 regulatory & supervisory authorities, banks and any other financial institution (e.g. credit unions, microfinance 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.
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), in connection with the most relevant obligations: identification of the B.O., KYC, source of funds, personal contact with clients, traceability of transactions.
4. AML/CFT supervision: methodology and standards.
5. Effectiveness of the AML/CFT supervision: how important is imposing sanctions?
6. Weaknesses identified in Financial Institutions.
7. The Cost of Compliance. What the international regulators and correspondent banks expect from their counter parties.
8. Exchanging of CDD information between Caribbean Respondent FI: a future possibility or a current fact?
9. 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 Member:

Bank of Jamaica

5. Instructor

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

6. Minimum Qualification Requirements

• The course is aimed to officials from banks and any other financial institution (regulated an unregulated credit unions, microfinance institutions, etc.) subject to AML/CFT laws.
• Be part of the Compliance Department in its institution.
• 3 years of job experience in AML/CFT areas.
• Direct contact with clients or 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 sent 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. Download the registration form (FormAP02) from the following link: www.asbaweb.org/FormAP02.doc
2. Complete the FormAP02
3. Send it to the following email: asba@asbasupervision.org

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.