Curriculum

The FFIEC requires that financial institutions manage the risks associated with using the wire transfer networks to transmit wholesale payments. Wire program controls have been criticized by regulators based on controls that while years ago were effective are now no longer sustainable. Over the past several years, there have been significant cybercrime related incidents that have drawn the attention to internal controls of a financial institutions wire transfer program.

This banking webinar on wire risk will take attendees through all related risks and provide useful tools to complete your wire transfer risk assessment.

Elements Covered:

  • Wire Transfer Risks Reviewed
    • Definitions and Wire Process Flow
    • Different Types of Wire Transfers Explained
  • Types of Risks Explained and Best Practices for Mitigation
    • Credit Risk
    • Operations Risk
    • Fraud Risk
    • Reputational Risk
    • Legal and Compliance Risk
    • Third Party Risk
  • Tips for Completing a Strong Risk Assessment


Who Should Attend?

  • Internal Auditors
  • Compliance Officers
  • Risk Managers
  • Wire Transfer Supervisors
  • Electronic Banking
  • Deposit Operations
  • Branch Management
  • Senior Management
  • Enterprise Risk Management


Instructor

  • Terri Sands

    Terri Sands

    Secura Risk Management / Founder


    Throughout her career, Terri has served as a leader in the payments and fraud prevention industry, providing education, risk management and compliance consulting and support services geared toward the specific needs of financial organizations. Terri is an Advanced Certified Anti-Money Laundering Specialist, an At-Risk Adult Crime Specialist and an Accredited ACH Professional. Prior to founding Secura, Terri served as co-founder of Payments Information Circle (PIC), a service organization providing payments industry education, auditing, consulting, resources, and support services to financial organizations throughout the country. Prior to her work at PIC, Terri also served as the President of GACHA, a non-profit, regional payments association where she provided strategic direction for financial institutions in the payments industry. Terri began her career in payments as a Senior Analyst with the Federal Reserve Bank of Atlanta where she provided training throughout the Sixth District and served on the Federal Reserve ACH Conversion Team that consolidated ACH Services for all branch locations in the Sixth District.

Credits

1.0 CPE Credits & 1.2 AAP Credits