WUAB

The Changing Landscape of Sanctions Programs: Understanding & Mitigating Compliance Risk
2020-10-06 12:00 - 2020-10-07 14:00 UTC
Webinar (Online Training):

Overview:

In the recent years, many international banks have been fined because of violations of sanctions programs imposed by the United States, the European Union, and others. The consequences of non-compliance have been severe in terms of financial penalties, loss of business, and reputational damage. So, financial crimes regulations and sanctions programs remain a major concern in the international banking landscape, including the MENA region. In order to mitigate this risk, banks around the world have to be extremely vigilant and must take the necessary measures to cope with various sanctions programs requirements. The aim of this webinar is to keep the attendees abreast and knowledgeable of the latest development related to sanctions by providing them valuable insights on various sanctions programs in general, their global applicability, and the key tools for due diligence. The webinar also addresses multiple real case studies and examples.

Outline:

Sanctions Programs at a Glance

Economic Sanctions – A Brief OverviewUS Sanctions vs. Non-US SanctionsSanctions vs. AML/CFT

Type of Sanctions

Primary vs. Secondary SanctionsComprehensive vs. Non-Comprehensive SanctionsSectoral SanctionsList-Based SanctionsActivity-Based SanctionsExamples

Global Applicability of US Sanctions, Enforcement, and Penalties

Importance of US RegulationsExtraterritorial Reach of US RegulationsConsequences of Non-ComplianceEnforcement Actions against Foreign BanksOFAC Enforcement & Penalties50% Rule Definition and RequirementsSpecially Designated Nationals; Blocking vs. Rejection

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Arab Banks Facing Non-Performing Loans during COVID -19
2020-09-08 12:00 - 2020-09-10 14:00
Webinar (Online Training):
Overview:
During crises, the number of loans that cannot be paid back increases. Before COVID-19, much of the stock of Non-Performing Loans (NPLs) grew out of the 2008 financial crisis, but then decreased to almost half.
In March, the global pandemic wreaked havoc on populations and financial markets. As a result, banks and lenders now face an unprecedented, widespread proliferation of loan defaults across the globe and numerous industries.
This webinar will shed the light on doubtful loans, what strategies have banks in different countries adopted, and how we collectively deal with those NPLs will be important to enable our economies to move forward.
Topics Covered

DAY 1: LEBANON

BDL CIRCULARSACTIONS OF DIFFERENT BANKS

DAY 2: GULF AREA (ex. UAE – KSA)

CENTRAL BANK POLICIESACTIONS OF DIFFERENT BANKS

DAY 3: OTHER ARAB COUNTRIES (ex. JORDAN – EGYPT)

CENTRAL BANK POLICIESACTIONS OF DIFFERENT BANKS

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Banking in The Next Normal
2020-09-07 14:00 - 2020-09-09 17:00
BACKGROUND

The spread of the coronavirus has altered significantly business practices worldwide, including trade, investment, and banking. Particularly, businesses are moving further towards more digitalization and online operations, a practice which is expected to last for a prolonged period.

This shift towards A Digital Economy will provide new opportunities, but will result also in emerging challenges for business sectors. This will boost investment commitments by industries that witness operations disruption and force them to adopt new and more complicated business models, with heavy reliance on emerging technologies.

On banking front, shifting into Digital Banking necessitates undertaking business transformation through series of transformative initiatives that will collectively contribute in creating new banking landscape. Nonetheless, the inherent risks associated with digital transformation are high, and additional skills are required to ensure a smooth transition without jeopardizing sustainability and growth.

Finally, Environmental, Social and Governance (ESG) as well as Biodiversity are emerging as new concepts and gaining significant attention in light of current developments, and are being integrated in investment selection and portfolio development. While this will result in significant opportunities for business models adopting ESG and biodiversity, it will result in compliance and disclosure challenges.

Therefore, the Union of Arab Banks aims at organizing a virtual forum on these developments under the title “Banking in The Next Normal”, on the 10th, 11th & 12th of August 2020.

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Mitigating Sanctions & Compliance Risks across the MENA Region
2020-08-05 15:00 - 2020-08-06 17:00
Webinar (Online Training)

Background
As evolving geopolitical risks permeate the MENA region, adhering to the various sanctions regimes administered by supranational organizations like UN, EU, & OFAC becomes more complex and challenging. Whether comprehensive, targeted or sectoral, managing sanctions risks remains a top of priority for financial institutions if they are to avoid the burden of heavy penalties and reputational harm. This webinar is expected to provide attendees with the necessary tools and insights on how to design appropriate sanctions compliance program and then align this program with the risk appetite, and geographic foot print of their institution. Topics to be addressed include sanctions due diligence, sanctions evasion techniques, delisting, characteristics of various sanctions regimes, licensing, screening challenges, sanctions investigations process, and EU and U.S sanctions frameworks.
Topics to be discussed

AML/CFT Compliance risks and Sanctions risks: divergence or convergence!
The new De-risking wave: cutting financial life lines of respondents
How nesting activities and downstream correspondent services contribute to heightened sanctions evasion risks!
The 4 components of Sanctions risk
Scratching below the surface to identify UBOs
EU VS U.S Treasury OFAC’s BRO identification & SCP:

Similarities & differences
Ownership thresholds, aggregate rule and sanctions by extension

Wire stripping risks from within and without
Implementing the Travel Rule to mitigate sanctions violations as payments pass through toll gates
Regulatory expectations
Initiating a sanction investigation process
Alert management, nature of hit generated (true match, false +ve, false -ve, true negative), discounting the alert or escalating the case
Asset blocking and asset seizure: regulatory requirements and international best practices
Licensing, permitted activity, and authorized transactions
Bank’s risk appetite & Ownership of the sanctions risk: Role of the board of directors and senior management
Internal reporting, training, and creating a compliance and corporate governance culture

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The Caesar Act – What should you know to avoid sanctions and how could it impact your business
2020-06-17 13:00 - 15:00
Webinar ( Online Training)

Background

The Caesar Syria Civilian Protection Act, also known as the Caesar Act, which will become effective on June 17, 2020, is a bipartisan law that aims to sanction the Syrian government, selected individuals and institutions as well as any government or any private entity that assists the Syrian government or contributes to the reconstruction of Syria.

Any international company or individual that invests directly or indirectly in the energy, aviation, construction or engineering sectors in Syria, as well as any person dealing financially with the government, will be subject to the Caesar Syria Civilian Protection Act of 2019.

First introduced in 2014, the law was the result of testimony given to Congress by a Syrian government defector codenamed Caesar, the law’s namesake. Caesar left Syria in 2013 with a trove of tens of thousands of photographs documenting torture in Syrian government prisons and has implored the US lawmakers to pass the law accordingly.

Topics to be discussed

History of the Caesar Syria Civilian Protection ActComparison between previous related sanctions and the Caesar ActThe stages of implementation of the Caesar ActWhat businesses and sectors are most vulnerable to the ActImplications on Banks in the MENA region especially in the Levant countriesWhat steps and procedures should be taken to avoid sanctions

Speakers:

Mr. Wissam FATTOUH
Dr. Antoine SFEIR
Dr. Ali ZBEEB
Mr. Amr Al Antably

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Auditing the Internal Capital Adequacy Assessment Process (ICAAP)
2020-06-03 10:00 - 2020-06-05 14:00
Webinar ( Online Training)

Overview:

This course provides an overview of the key fundamentals that need to be taken into consideration during the internal audit review of the ICAAP. At the end of this course, internal auditors will be more informed about the key internal control tests that need to be conducted during the ICAAP audit. This course will also shed further insights about key components that need to be included in the ICAAP audit program in addition to providing further insights on more effective methods to report findings noted during the ICAAP audit. This course is provided only for internal auditors and the below represents an outline as to the items that will be discussed throughout the course:

Introductory Topics:

The Risk Management FunctionThe Treasury CycleThe Lending CycleCapital Management & AssessmentStress Testing & Related Frameworks

Governance of the Risk Management Function :

Training & CompetenceQualifications Systems Independence & Reporting LinesReporting to the Board Risk Committee

ICAAP Audit:

ICAAP – Pillar II Framework ICAAP Policy ReviewICAAP Governance Assessment ICAAP Vision / Framework ReviewICAAP Document Review ICAAP Audit ProgramPillar II Risk Assessment & Measurement ICAAP Monitoring and Reporting AssessmentICAAP Internal Audit ReportCapital Budgeting Framework Assessment Stress Testing Framework AssessmentSample Stress Test Events / ScenariosSample ICAAP Audit Observations Challenges faced during the ICAAP AuditRisk Appetite Assessment Matrix

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Compliance & Combating Financial Crime Conference
2020-01-29 09:00 - 2020-01-30 15:00
Overview:

The Contemporary regulatory landscape with regards to compliance has always been extremely challenging given the lack of standardization from local regula

tors. This conference is one of many forums that WUAB organizes as part of its intensive efforts to counter the escalating pattern of financial crime. Cyber-crime and financial crime become more complex due to the diversification and growth in the banking industry on one hand, and the proliferation of terrorism and the emergence of new terrorist organizations on the other. These crimes represent undoubtedly a major concern for the various judicial, regulatory and security authorities in the world.

The issue of Financial Crime possess its weight on Arab Banks for what it represents as complex crimes that cross national boundaries. Massive International cooperation and concerted efforts ought to be promoted to combat financial crimes.

The World Union of Arab Bankers through this forum is always keen to join efforts with international bodies and entities to safeguard our Arab Banks and financial institutions from potential threats and challenges and introduce the state of art means of combating these threats while abiding and complying with the regulatory framework and international best practices. On the other hand, WUAB is keen to highlight new trends and patterns that are evolving such that the Arab Banks are always the leaders in introducing new products and services that benefit the financial consumer.

Main Topics of Discussion:

Combating Financial Crime: Compliance and Regulatory IssuesCybersecurity & Transaction Monitoring and Filtering Leveraging Up Technology and Data AnalyticsUpdating AML Models to Meet Global Ultimate Beneficial Ownership (UBO) StandardsCompliance data protection, securing access among the required channels: Global AML Issues in 2020Challenges and Opportunities to enhance the relations with Correspondent Banks

Attendees are professionals Responsible for:

AML operations and compliance AML risk management Customer due diligence Transaction monitoring and system tuningAML audits.

Forum Techniques:

The conference employs a mix of theoretical fundamental explanations and case studies, with special focus on exchanging knowledge and experiences.

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