HomeWebcastThe New Customer Due Diligence (CDD) Requirements for Financial Institutions: Practical Tips and Strategies
Online CLE CDD Requirements CLE

The New Customer Due Diligence (CDD) Requirements for Financial Institutions: Practical Tips and Strategies

Live Webcast Date: Thursday, August 16, 2018 from 12:00 pm to 1:00 pm (ET)
Financial Industry CLE & CPERecording

Online CLE CDD Requirements

Join us for this Knowledge Group Online CLE CDD Requirements Webinar. With the new and final FinCEN Customer Due Diligence Rule that took effect last May 11, 2018, financial institutions are now required to collect, maintain and report beneficial ownership information. This is to help banks and broker dealers identify and verify the identity of a beneficial owner who are opening a new account. Covered financial institutions are also required by the new CDD rule to implement customer due diligence procedures. The Rule is part of the government’s efforts to address regulatory loopholes in preventing money laundering and terrorist financing activities.

In this Webcast, a seasoned panel of thought leaders and professionals brought together by The Knowledge Group will provide the audience with an in-depth analysis of the fundamentals as well as recent developments surrounding FinCEN's New Customer Due Diligence Rule. They will further explain the four elements of considerations, as identified by FinCEN, when performing due diligence. They will also present best practices and practical tips to avoid common risks and pitfalls.

Key topics include:

  • FinCEN’s New Customer Due Diligence Rules – A Sneak Peak
  • New CDD Requirements
  • CIP vs FinCEN’s New CDD Rule
  • Identifying Red Flags
  • Common Risks and Pitfalls
  • Future Implications
  • 2018 Trends, Developments and Updates

Who Should Attend

  • Banking and Financial Institutions
  • Brokers
  • Finance Directors
  • Attorneys and Consultants for Financial Companies
  • Financial Advisors and Money Managers
  • Financial Crime Attorneys & Consultants
  • Financial Executives and Officers
  • Risk and Compliance Officers
  • BSA/AML Compliance Officers

Preview Podcast

Please click the podcast below to hear the speakers discuss the key topics for this webcast.


Online CLE CDD Requirements
Tim O’Neal Lorah
Managing Director
Online CLE CDD Requirements
Dana Twomey
Senior Manager
West Monroe Partners

Click Here to Read Additional Material

Online CLE CDD Requirements

Tim O’Neal Lorah, Managing Director
  1. Customer Due Diligence Rule
  2. Impetus for Rulemaking
  3. Key Elements of the Final Rule
  4. Key FINCEN and FFIEC Releases
  5. CIP on Beneficial Owners
  6. Identification and Verification
  7. Exclusions and Exemptions for Certain Entities or Accounts
  8. Risk-Based Procedures for Conducting Ongoing Customer Due Diligence

Dana Twomey, Senior Manager
West Monroe Partners
  • Trigger events: what are they, when do you need to collect beneficial ownership information
  • How to speak to your clients about beneficial ownership
  • How to turn a trigger event for beneficial ownership into a positive experience for the customer

Online CLE CDD Requirements

Online CLE CDD Requirements

Tim O’Neal LorahManaging DirectorNavigant

Tim O'Neal Lorah is a Managing Director in the Global Investigations & Compliance Practice in New York. He has over 18 years of experience in the financial crime compliance arena, having served as a Managing Director and Global Head of Financial Crime Compliance at both Morgan Stanley and Barclays. In those roles, Mr. Lorah led the strategic direction, oversight and coordination of the global financial crime program across all product and business lines, including business and corporate banking, institutional securities, private wealth management and retail brokerage.  He was the senior point-of-contact with U.S. and non-U.S. regulatory agencies, law enforcement and external bodies worldwide on matters relating to AML, economic sanctions, anti-bribery and financial crime compliance. Mr. Lorah was also a member of the U.S. Delegation to the FATF/MONEYVAL Experts’ Meeting on Money Laundering and Terrorist Financing Typologies in Monaco, delivering a presentation on Money Laundering and Terrorist Financing Risks in the U.S. Securities Industry.

Online CLE CDD Requirements

Dana TwomeySenior ManagerWest Monroe Partners

Dana is a Senior Manager in the Financial Services practice at West Monroe Partners with over 10 years of experience. She has led the development and delivery of BSA/AML program updates and provided strategic guidance to develop roadmaps for maintaining compliance with regulations.

Most recently, Dana has focused on new regulations, helping clients to identify and measure the impacts of  changes, and implementing updated policies, processes, procedures and technology.

During prior project experience, Dana used her expertise to evaluate the current state of BSA/AML programs and recommend changes to achieve first-in-class programs. Dana’s knowledge of regulations coupled with her business acumen allows her to provide a balanced, risk-based approach to compliance that supports strong programs and policies, while enabling frontline business.

Dana has a BA from Denison University and an MBA from the University of Notre Dame.

Online CLE CDD Requirements

Course Level:

Advance Preparation:
   Print and review course materials

Method Of Presentation:
   On-demand Webcast

   Experience in finance law

Course Code:

NY Category of CLE Credit:
   Areas of Professional Practice

Total Credit:
    1.0 CLE

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About the Knowledge Group

The Knowledge Group

The Knowledge Group has been a leading global provider of Continuing Education (CLE, CPE) for over 13 Years. We produce over 450 LIVE webcasts annually and have a catalog of over 4,000 on-demand courses.

About the Knowledge Group

The Knowledge Group

The Knowledge Group has been a leading global provider of Continuing Education (CLE, CPE) for over 13 Years. We produce over 450 LIVE webcasts annually and have a catalog of over 4,000 on-demand courses.

Navigant Consulting, Inc. (NYSE: NCI) is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage, and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the firm primarily serves clients in the healthcare, energy, and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.

Website: https://www.navigant.com/

West Monroe is a progressive business and technology consulting firm that partners with dynamic organizations to reimagine, build, and operate their businesses at peak performance.

Our team of more than 950 professionals is comprised of an uncommon blend of business consultants and deep technologists. This unique combination of expertise enables us to design, develop, implement, and run strategic business and technology solutions that yield a dramatic commercial impact on our clients’ profitability and performance. For more information, please visit wmp.com.

Website: https://www.westmonroepartners.com/

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