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Who Is Providing the Emails?
The emails are a dues service through your credit union's affiliation with Montana's Credit Unions, an association supporting credit unions across the state. My name is Donya Parrish, and as the VP Risk Management at MCU, I cover our compliance hotline and host a monthly call with compliance officers. Those calls often discuss BSA challenges, exam focus, and more. I've also had my BSA Compliance Specialist (BSACS) designation from America's Credit Unions for almost twenty years and have the opportunity to do BSA training with many credit unions and their boards each year. Those conversations give me a good perspective of the climate of BSA across Montana and it is my goal to share that with you this week.
What Will Be Covered?
Each day this week (December 9-13), you'll receive two daily emails that cover a particular aspect of the Bank Secrecy Act. One will arrive mid-morning and another in the mid-afternoon. The email topics will range from understanding reporting and risk assessments to resources and information sharing. This series is designed to build upon itself, so you'll get the most benefit if you participate in all ten emails.
What Should I Expect?
You can expect short articles summarizing various components of the BSA with links to additional details and information. There will be questions to get you thinking about your own credit union's role with Bank Secrecy Act compliance, as well as information on recent events and helpful resources. You can read the emails independently or discuss them as a department or group within your credit union.
What If I Miss a Day?
Each series email will be in your inbox, so even if you're out of the office or are too busy to concentrate on compliance training at the time, it will be there. They will also be available in the archive on our Compliance Training Tools page after each series email is sent for easy access all year! That can be an option to bring new employees up to speed on the regulation prior to your next scheduled credit union-wide BSA training.
Will There Be a Final Test?
Yes! On Friday, December 13, you'll receive a third email in the afternoon that includes an optional self-test to see how knowledgeable you are on BSA requirements. Whether your credit union or supervisor wants to see the results of your test should be discussed internally. Keep in mind that this series is not intended as a substitute to familiarity with your own credit union's policy, procedures, and expectations on BSA compliance.
How Can I Prove I Completed It?
The series and self-test are made available to Montana credit unions as a tool, but it's up to each credit union to decide how to track or manage the outcomes. Visit with your BSA compliance officer or supervisor if you have any questions regarding their expectations. We will also provide a certificate that can be filled in upon completion of the test and/or series for bragging rights.
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