Navigating Russia Sanctions Complexities

Sep 24, 2018 9:00am - 5:00pm

Speakers

Shannon Barna
Senior Counsel – Sanctions
GE Global Operations (Washington, DC)

Brian Egan
Partner
Steptoe & Johnson LLP (Washington, DC)

Andrew Keller
Chief Democratic Counsel
US Senate Foreign Relations Committee (Washington, DC)

Glen Kelley
Partner
Jacobson Burton Kelley PLLC (New York, NY)

Alice Rojas
Head, Sanctions Governance and OFAC Reporting Financial Crime Compliance – America
Standard Chartered Bank (Newark, NJ)

Michael Zytnick
Director – Head of Sanctions Strategy and Development
Deutsche Bank Trust Company Americas (New York, NY)

Benjamin Davis
Chief Research Officer
Kharon

Day 1 - Tuesday, September 25, 2018

7:45
Registration and Continental Breakfast
8:45
Co-Chairs Opening Remarks
9:00

Regulatory Roundtable

Government Officials Weigh in on Financial Crime Enforcement
10:15
Networking Break
10:30

Industry Think Tank

Senior Executives Discuss Recent Trends, Hot Issues, and Challenges in Financial Crimes Compliance
12:00
Networking Luncheon for Speakers and Attendees
1:15

Cryptocurrency AUDIENCE EXCHANGE

How to Address the Risks of FinTech and Cryptocurrency Compliance?
2:15

Focus on FINCEN’s Customer Due Diligence Rule

Interactive Conversation on CDD, Beneficial Ownership and KYC After the May 2018 Deadline
3:30
Networking Break
3:45

Focus on Sanctions

Economic Sanctions Regulatory and Enforcement Priories for the Year Ahead
4:30
Data Challenges with E-Commerce and How to Mitigate AML and Sanctions Compliance Risks
5:15
End of Day One

Day 2 - Wednesday, September 26, 2018

8:40
Co-Chair Opening Remarks
8:45

Financial Crime Integration

Managing Overlapping Exposure from Anti-Corruption, Economic Sanctions, AML & Cybercrime
10:15

Financial Crime Escalation

Identifying the Best Metrics to Report to Senior Management and the Board of Directors
10:45
Networking Break
11:00
Best Practices for Compliance Officers to Mitigate Cyber Risk and Comply with Data Privacy Rules
12:00
Networking Lunch for Speakers and Attendees
1:15
Pros and Cons on How to Approach Marijuana-Related Transactions and Investments
2:15

Deep Dive into Blockchain

Using Blockchain Technology to Combat AML Through Identification of Suspicious Transactions
3:15
Networking Break
3:30

Trade-Based Money Laundering

Sophisticated Techniques to Identify Potential Suspicious Activity and Tips to Block Unauthorized Transactions
4:30
Conference Concludes

Day 1 - Tuesday, September 25, 2018

7:45
Registration and Continental Breakfast
8:45
Co-Chairs Opening Remarks

Lester Joseph
SVP, Global Financial Crimes Intelligence Group
Wells Fargo (McLean, VA)

Stephanie Brooker
Partner
Gibson, Dunn & Crutcher (Washington, DC)

9:00

Regulatory Roundtable

Government Officials Weigh in on Financial Crime Enforcement

Moderator:

Elizabeth T. Davy
Partner
Sullivan & Cromwell LLP (Washington, DC)

Jason Gonzalez
Special Counsel
Federal Reserve Board

Alexander Wilson
Chief, Money Laundering & Asset Forfeiture Unit
U.S. Attorney’s Office, Southern District of New York

Thomas Ott
Associate Director for Enforcement
Financial Crimes Enforcement Network

U.S. Department of Treasury

Matthew L. Levine
Executive Deputy Superintendent - Enforcement
New York State Department of Financial Services

In this session, senior government officials will discuss the regulatory and enforcement developments of the past year and offer their insights into the current year. You will hear from senior officials on:

  • Recent policy changes and announcements
  • Lessons learned from recent enforcement actions in the US and abroad
  • Best practices for cooperating with agencies
  • How cases are built and how agencies coordinate

10:15
Networking Break
10:30

Industry Think Tank

Senior Executives Discuss Recent Trends, Hot Issues, and Challenges in Financial Crimes Compliance

Duncan DeVille
Global Head of Financial Crimes Compliance
Western Union (Denver, CO)

Court Golumbic
Global Head of Financial Crimes Compliance
Goldman Sachs (New York, NY)

William J. Fox
Global Head of Financial Crimes Compliance
Bank of America (Charlotte, NC)

Frederick Reynolds
Global Head of Financial Crime Legal
Barclays Bank (New York, NY)

Richard Weber
Managing Director and Americas Head of Anti-Financial Crime
Deutsche Bank (New York, NY)

Evan Weitz
Managing Director, Head of Controls, Europe and Americas, Financial Crime Compliance
Standard Chartered Bank

Panel Moderator

Stephanie Brooker
Partner
Gibson, Dunn & Crutcher (Washington, DC)

Senior executives will discuss their views on financial crime in today’s global marketplace. Participants will reveal their top concerns and predictions for staying ahead of increasingly sophisticated criminal schemes, money laundering techniques, and innovative cybercrime schemes.

12:00
Networking Luncheon for Speakers and Attendees

Special Interest Groups (SIG)

During lunch, participants from specific industries will have the opportunity for structured networking and the chance to meet with their peers. Tables will be reserved and advance signup will be offered.

1:15

Cryptocurrency AUDIENCE EXCHANGE

How to Address the Risks of FinTech and Cryptocurrency Compliance?

Jai Massari
Partner
Davis Polk & Wardwell LLP (New York, NY)

  • Audience polling on how organizations are handling crytocurrency today and plans for the future
  • Real life approaches to managing these risks
  • Discussion of AML and sanctions concerns with crytocurrency

2:15

Focus on FINCEN’s Customer Due Diligence Rule

Interactive Conversation on CDD, Beneficial Ownership and KYC After the May 2018 Deadline

Roy D’Sa
Executive Vice President, Chief Bank Secrecy Act Officer
Huntington National Bank (Columbus, OH)

Elaine Banar
Managing Director, Global AML and Anti-Bribery & Corruption Head
Guggenheim Partners, LLC (New York, NY)

Megan Hodge
Executive Compliance Director, BSA/AML Officer
Ally Financial (Charlotte, NC)

Panel Moderator

Daniel Stipano
Partner
Buckley Sandler LLP

  • Areas examiners are most likely to focus on when they assess compliance with the CDD rule
  • Expectations for when examiners will expect financial institutions to go beyond the minimum requirements in the rule
  • Necessary changes to onboarding procedures, CDD and EDD, customer identification, IT, and vendor management
  • How best to address the key issues and “gray areas” of the rule
  • Expectations with respect to SARs, CTRs, OFAC, and 314(a)

3:30
Networking Break
3:45

Focus on Sanctions

Economic Sanctions Regulatory and Enforcement Priories for the Year Ahead

Seetha Ramachandran
Partner
Schulte Roth & Zabel LLP (New York, NY)

  • Status of current Russia sanctions implementation
  • Implications of the snapback of Iran sanctions and potential EU blocking statute
  • Latest developments on North Korea sanctions
  • Trends for global economic sanctions enforcement

4:30
Data Challenges with E-Commerce and How to Mitigate AML and Sanctions Compliance Risks

Melissa Strait
U.S. Compliance Officer
Stripe (San Francisco, CA)

  • Addressing challenges around non-standardized transactional data
  • Tips for meeting complex KYC requirements
  • Need for different controls between financial institutions, retailers and fintech companies
  • Conducting business in the global marketplace with high regulatory risk

5:15
End of Day One

Day 2 - Wednesday, September 26, 2018

8:40
Co-Chair Opening Remarks

Stephanie Brooker
Partner
Gibson, Dunn & Crutcher (Washington, DC)

8:45

Financial Crime Integration

Managing Overlapping Exposure from Anti-Corruption, Economic Sanctions, AML & Cybercrime

Moderator:

María González Calvet
Partner
Ropes & Gray (Washington, DC)

Ryan J. Donohue
Executive Director / Counsel, Global Financial Crimes
Morgan Stanley (New York, NY)

Robert Johnston, Jr.
Head of FCPA & AML Program
Senior Compliance Officer & Assistant General Counsel

Oz Management (New York, NY)

Matthew Watkins
Principal
KKR (New York, NY)

Robert Brunner
Senior Managing Director, Data & Analytics
FTI Consulting (Los Angeles, CA)

  • Strategies to manage financial crime effectively in your organization
  • How companies are weighing and managing interrelated risk factors
  • Best practices for working with cross functional teams in your organization
  • How to achieve economies of scale

10:15

Financial Crime Escalation

Identifying the Best Metrics to Report to Senior Management and the Board of Directors

Don Carbaugh
Managing Director
Global Head of Financial Crimes Compliance Testing and Issues Management Departments Global Financial Crimes Division

MUFG

10:45
Networking Break
11:00
Best Practices for Compliance Officers to Mitigate Cyber Risk and Comply with Data Privacy Rules

John MacKessy
Director & Global Head of AML
Blackrock (New York, NY)

Robert S. Litt
Of Counsel
Morrison Foerster (Washington, DC)
Former General Counsel of the Office of the Director of National Intelligence

  • How to be ready for the inevitable breach
  • Why compliance teams should work closely with information technology teams
  • Data privacy rules are complex and permission must be obtained from each regulator where your server is located
  • How to meet regulator’s increased expectation over data issues

12:00
Networking Lunch for Speakers and Attendees

Emerging Topic Networking (ETN)

During lunch, participants will have the opportunity to discuss specific emerging topics. Tables will be reserved and advance signup will be offered.

1:15
Pros and Cons on How to Approach Marijuana-Related Transactions and Investments

Sundie Seefried
CEO/President
Partner Colorado Credit Union (Denver, CO)

Dan Kim
Assistant General Counsel Global Financial Crimes Legal
JPMorgan Chase (New York, NY)

Alexander Arnote
Senior Director, Data & Analytics
FTI Consulting (San Francisco, CA)

  • Current interest by investors and lenders
  • Real world experience by a Credit Union working in this space
  • Cooperating with law enforcement and regulatory agencies
  • Formal actions and inquiries
  • Navigating conflicts between state, federal and non-U.S. laws

2:15

Deep Dive into Blockchain

Using Blockchain Technology to Combat AML Through Identification of Suspicious Transactions

Lester Joseph
SVP, Global Financial Crimes Intelligence Group
Wells Fargo (McLean, VA)

John Roth
Chief Compliance Officer
Bittrex (Washington, DC)

Hailey Lennon
Director of Compliance
bitFlyer USA, Inc. (San Francisco, CA)

  • What are the opportunities with distributed ledger applications, blockchains and smart contracts?
  • KYC and trade finance applications
  • Current initiatives in this area
  • What are opportunities and pitfalls to watch for

3:15
Networking Break
3:30

Trade-Based Money Laundering

Sophisticated Techniques to Identify Potential Suspicious Activity and Tips to Block Unauthorized Transactions

Michael N. Emmerman
Intelligence Analyst and Senior Investigator
The Special Operations Support Group (New York, NY)

Christopher Ruzich
Director, Major Cases and Sanctions Group, Financial Crime Compliance, Americas
Standard Chartered Bank (Newark, NJ)

  • Discuss emerging trends in terrorist financing and TBML
  • How to best identify and meet monitoring challenges with respect to TBML
  • Recognizing TBML red flags such as under- and over-invoicing before the transactional activity is processed

4:30
Conference Concludes

Navigating Russia Sanctions Complexities

Sep 24, 2018 9:00am - 5:00pm

$1,395

Speakers

Shannon Barna
Senior Counsel – Sanctions
GE Global Operations (Washington, DC)

Brian Egan
Partner
Steptoe & Johnson LLP (Washington, DC)

Andrew Keller
Chief Democratic Counsel
US Senate Foreign Relations Committee (Washington, DC)

Glen Kelley
Partner
Jacobson Burton Kelley PLLC (New York, NY)

Alice Rojas
Head, Sanctions Governance and OFAC Reporting Financial Crime Compliance – America
Standard Chartered Bank (Newark, NJ)

Michael Zytnick
Director – Head of Sanctions Strategy and Development
Deutsche Bank Trust Company Americas (New York, NY)

Benjamin Davis
Chief Research Officer
Kharon

What is it about?

2018 has proven to be quite busy regarding the Russia sanctions landscape. On April 6, the Administration issued additional sanctions against seven Russian oligarchs with ties to President Vladimir Putin along with 12 companies they own or control. These sanctions issued under the Countering America’s Adversaries Through Sanctions Act(CAATSA), differ from previous restrictive U.S. measures in both aim and execution.

Based on popular demand, ACI has developed a new interactive one-day program to provide timely guidance on the complex sanctions against Russia. The program will be taught by experienced senior in-house counsel and private practitioners who will stay all day to answer questions during the program. This program is designed for both financial institutions and global exporters.

Topics to be covered include:

  • Current Status of Russia Economic Sanctions
  • Lessons Learned and the Impact of OFAC’s April 6, 2018 Designations
  • Practical Considerations for Screening, Ownership and Control
  • The Role of CAATSA on Future Sanctions
  • Differences Between US and EU Sanctions
  • Navigating the Intersection of Sanctions and Export Controls

 

 

Full Day Pre-Conference Seminar, Monday, September 24, 2018

8:15
Registration and Continental Breakfast
9:00
Current State of Russia Economic Sanctions

Andrew Keller
Chief Democratic Counsel
US Senate Foreign Relations Committee (Washington, DC)

Brian Egan
Partner
Steptoe & Johnson LLP (Washington, DC)

  • Overview of changes to U.S. Russia sanctions and impact of new Russia counter-sanctions
  • Asssesing the impact of OFAC’s April 6, 2018 designations
  • Handling issues associated with potential impact of CAATSA secondary sanctions (sections 226 and 228)
  • The key lists: OFAC’s Sectoral Sanctions Identification (SSI) and Specially Designated Nationals (SDN) lists
10:00
Lessons Learned and the Practical Impact of OFAC’s April 6, 2018 Designations

Michael Zytnick
Director – Head of Sanctions Strategy and Development
Deutsche Bank Trust Company Americas (New York, NY)


Glen Kelley

Partner
Jacobson Burton Kelley PLLC​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​ (New York, NY)

  • Key points regarding OFAC’s guidance and interpretation of General Licenses
  • Lessons learned in drafting sanctions clauses in contracts and agreements
  • Working with OFAC on a growing number of “wind-down” licenses
  • U.S. primary and secondary sanctions from a Non-U.S. perspective
11:00
Networking Break
11:15
Real World Considerations for Screening, Ownership and Control

Alice Rojas
Head, Sanctions Governance and OFAC Reporting Financial Crime Compliance – America
Standard Chartered Bank (Newark, NJ)

Benjamin Davis
Chief Research Officer
Kharon

  • Applying OFAC’s 50% rule in the real world
  • Best practices in restricted party screening for financial institutions and companies
  • Practical issues when dealing with parties on OFAC’s Sectoral Sanctions Identification (SSI) and Specially Designated Nationals (SDN) lists
  • How to handle companies with a CEO or Director on the SDN list
12:15
Networking Lunch
1:15
Economic Sanctions Policy — The Role of CAATSA on Future Sanctions

Shannon Barna
Senior Counsel – Sanctions
GE Global Operations (Washington, DC)

  • How Congress, the Department of the Treasury and the State Department will work together going forward.
2:15
Navigating the Intersection of Sanctions and Export Controls

Glen Kelley
Partner
Jacobson Burton Kelley PLLC (New York, NY)

  • Particular challenges when exporting products that could be used in the Russian oil and gas industry
  • Compliance implications of so many sanctioned entities also being in the Entity List
  • Staying out of trouble under the broad sanctions and export controls for Crimea
3:15
Networking Break
3:30
Interactive Session: Test Your Knowledge of Multiple Sanctions Restrictions Under CAATSA

Brian Egan
Partner
Steptoe & Johnson LLP (Washington, DC)

  • Flow down ownership percentage assessments
  • SDN red flags
  • Financing/new debt restrictions
  • Secondary sanctions risks
4:30
Q & A Panel
5:00
Program Concludes