Registration opens at 8:30 am

Join an in-depth, practical conversation on the essentials of implementing an effective sanctions compliance program that meets OFAC expectations. The workshop will delve into the intricacies of maintaining and updating your program and ensuring that it is agile and ready to adapt as more sanctions developments unfold. The speakers will focus on the 5 pillars of compliance and share compliance best practices for each one.

RISK ASSESSMENT

• Key components of risk assessments and risk ranking
• Leveraging the results of your risks assessment to strengthen your program
• Assessing high risk transactions against your organization’s risk tolerance

TESTING AND AUDITING

• How do you audit your sanctions compliance program?
• The scope of involvement of your internal audit team
• Key components of a strong audit program

TRAINING

• Traditional and innovative approaches to training
• Effective tools, including in-person training, and virtual training
• Determining the frequency of training (and re-training)
• Documenting training efforts

INTERNAL CONTROLS

• Recordkeeping best practices
• How do you align internal controls with new sanctions
• Identifying and rectifying internal control weaknesses

SENIOR MANAGEMENT COMMITMENT

• Elements of a strong culture of compliance, including senior management buy-in
• Techniques to demonstrate strong sanctions compliance awareness
• Challenges of engaging the entire organization