Agenda

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Day 1 - Tuesday, February 13, 2024
Day 2 - Wednesday, February 14, 2024
8:00 |
Networking Breakfast and Registration |
9:00 |
Opening Remarks from the Co-Chairs |
9:10 |
International Perspectives:Navigating Evolving International Sanctions and AML Complexities for the Insurance Industry |
10:00 |
Navigating the Revised AMLA:Best Practices for Ensuring Compliance with the New Due Diligence Duties Related to Anti-Money Laundering Act Revisions |
10:30 |
Networking Break |
10:45 |
Developing a Risk-Based Approach to AML & Sanctions:Programs for Insurers and Practical Tips for Effective Risk-Assessment Strategies |
11:30 |
Complying with the Corporate Transparency Act:Navigating the CTA and Complying with FinCEN’s Beneficial Owner Reporting Rules |
12:00 |
Closing Remarks and Conference Adjourns |
Post-Conference Workshop
Day 1 - Tuesday, February 13, 2024
8:00 |
Networking Breakfast and Registration |
9:00 |
Opening Remarks from the Co-Chairs![]() Sandra Calmes ![]() Luis Duarte de Jesus |
9:10 |
OFAC Presentation |
9:45 |
Keeping Up with Russia Sanctions:Unravelling Key Developments and New, Wide-Reaching Russia Sanctions Impacting the Insurance Industry![]() Richard McDermott ![]() Dana Cordes As the U.S. continues to impose severe and far-reaching economic sanctions on Russia, insurers must keep up with a barrage of new rules. The rapidly changing sanctions regime signals an urgent need for firms and companies to ensure processes are robust and that proper due diligence is in place. Given the potential legal and financial consequences related to a raft of challenges from sanctions targeting Russia, insurance and reinsurance companies must unravel a complex web of unprecedented and rapidly changing economic sanctions. During this panel, we will explore key areas including:
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10:45 |
Networking Break |
11:00 |
Exploring Key Uses and Risks of AI in BSA/AML Compliance:Opportunities and Challenges for Insurance Companies![]() Luis Duarte de Jesus ![]() Michael Heffernan AI and emerging technologies are ushering in a new era of efficiency and effectiveness for compliance in the insurance sector. During this panel, we will explore the myriad ways that AI and other emerging technologies are reshaping AML compliance in the insurance industry through increased risk assessment precision, real-time monitoring, automating reporting, adaptive compliance, and a host of other solutions. During this panel, we will explore:
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11:45 |
Sanctions Evasion and Circumvention:Practical Guidance for Companies to Detect and Prevent the Circumvention of Sanctions and Being Prepared for the Newest, Most-Sophisticated Techniques![]() Sandra Calmes ![]() Evanthia Coffee An evolution in evasion techniques means a new wave of compliance risks for financial institutions and the wider industry, requiring robust adaptation and constant vigilance. Our expert panel will examine what constitutes sanctions evasion/circumvention, the current landscape of evasion threats, risks, and typologies, and practical tips for identifying them and being prepared, including:
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12:30 |
Networking Luncheon |
1:30 |
Strengthening Your Sanctions Screening Program:Components of an Effective, Risk-based Sanctions and Export Compliance Program and Guidance on Updated OFAC Requirements![]() Andrew Gifford ![]() Kelvin Miller ![]() Isabella Stengele Enhancing the effectiveness of your sanctions screening program is critical in today’s stringent regulatory landscape. This entails robust due diligence processes, continuous monitoring, and the implementation of state-of-the-art screening tools and technologies. Strengthening your sanctions screening program not only safeguards your organization from legal repercussions, but also contributes to the broader efforts of maintaining global security and stability by preventing illicit financial activities. During this panel, we will explore:
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2:30 |
Guidance on the SEC’s New Cybersecurity Disclosure Rule:Best Practices for Compliance with Disclosures Related to Cybersecurity Risk Management, Strategy, and Governance for Insurance and Reinsurance CompaniesOn July 26, the SEC adopted amendments intended to enhance and standardize disclosures related to cybersecurity. The amendments require companies timely to disclose material cybersecurity incidents and annual disclosures related to cybersecurity risk management, strategy, and governance in a timely manner. During this panel, we will discuss the new SEC regulations and the requirements for public companies to provide investors with information about cybersecurity risk management programs. During this panel, we will discuss:
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3:30 |
Networking Break |
3:45 |
Small Group Networking Discussion by SectorAML Compliance Hot Topics:
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5:00 |
Closing Remarks from the Co-Chairs and Day 1 Adjourns |
Day 2 - Wednesday, February 14, 2024
8:00 |
Networking Breakfast and Registration |
9:00 |
Opening Remarks from the Co-Chairs![]() Sandra Calmes ![]() Luis Duarte de Jesus |
9:10 |
International Perspectives:Navigating Evolving International Sanctions and AML Complexities for the Insurance Industry![]() Inna Tsimerman A comprehensive examination of the US, EU, and UK sanctions structures and AML guidelines reveals an intricate interplay between legal frameworks, policy objectives, and enforcement challenges. During this panel, we will explore the intricate nature of the global sanctions and AML frameworks, including:
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10:00 |
Navigating the Revised AMLA:Best Practices for Ensuring Compliance with the New Due Diligence Duties Related to Anti-Money Laundering Act RevisionsIn light of the evolving landscape of financial crime and the need for more effective measures to combat money laundering and terrorism financing, the Anti-Money Laundering Act (AMLA) has recently undergone significant updates. These updates represent a concerted effort to modernize AML practices, improve detection capabilities, and reinforce collaboration among stakeholders for a more robust financial system. During this panel, we will discuss key highlights of the AMLA updates including:
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10:30 |
Networking Break |
10:45 |
Developing a Risk-Based Approach to AML & Sanctions:Programs for Insurers and Practical Tips for Effective Risk-Assessment Strategies![]() Jesse Aedo ![]() Michael Heffernan Developing a risk-based approach to AML & sanctions programs is essential for insurers and reinsurers in today’s complex regulatory landscape. Companies must be vigilant in identifying and mitigating money laundering and sanctions risks while efficiently allocating resources. Effective risk-assessment strategies are critical to achieving compliance and protecting the integrity of the insurance industry. During this panel, we will discuss key considerations:
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11:30 |
Complying with the Corporate Transparency Act:Navigating the CTA and Complying with FinCEN’s Beneficial Owner Reporting Rules![]() Charles Smith The CTA, a component of the Anti-Money Laundering Act of 2020 implemented by FinCEN, was enacted to prevent money laundering, terrorist financing, and other illicit activities. It takes effect January 1, 2024. By increasing the information reported on business entities, the CTA aims to prevent the exploitation of U.S. corporations and LLCs for criminal gain and assist law enforcement in detecting criminal activity. The CTA requires companies, beneficial owners, and business applicants to file information with the U.S. Department of the Treasury. During this panel, we will explore:
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12:00 |
Closing Remarks and Conference Adjourns |
Workshop – Breaking Down the Nuts and Bolts of FinCEN’s Compliance Guidance on the AML Act of 2020: From Risk Assessments, Internal Controls and Policies to Third-Party Risk Management
What is it about?
In light of the evolving landscape of financial crime and the need for more effective measures to combat money laundering and terrorism financing, the Anti-Money Laundering Act (AMLA) has recently undergone significant updates. These updates represent a concerted effort to modernize AML practices, improve detection capabilities, and reinforce collaboration among stakeholders for a more robust financial system. During this panel, we will discuss key highlights of the AMLA updates including:
- Stricter regulations, expanded due diligence requirements, and refined risk assessment methodologies for a comprehensive approach to financial crime
- Establishing a renewed focus on identifying and verifying beneficial ownership information, increasing transparency, and fighting illicit actors who hide behind complex ownership structures
- Leveraging cutting-edge technologies, including Big Data, to increase the efficiency of transaction monitoring and suspicious activity detection