ABA Banking Journal - October 2008 - (Page 60)

COMPLIANCE CLINIC theory, if a group of firms all exhibit x, y, and z behaviors and patterns, it would suggest that they be put on the watch list. However, “it is possible to have too many accounts on a watch list,” said Wachovia’s Dan Soto. If too many customers are getting special scrutiny, no one is getting special scrutiny. “You have to triage” the list of candidates for special monitoring, said Soto. Over time, some watch-list accounts can be culled from that list. Another example concerned geography. Government agencies may designate an area with a special priority identifier rating, such as “High Intensity Drug Trafficking Area” (HIDTA) or “High Intensity Financial Crime Area” (HIFCA). However, the bank must still assess the risks posed by its own submarkets and customer groups. “I don’t believe that all HIDTAs are created equal,” said Wimpling. He noted that one of his market areas is designated as a HIDTA, just as Miami, Fla., is. Yet, “the risk in Miami is a whole lot different than the risks in Palatka, Fla.,” said Wimpling, even though they both carry the same designation. “You have to dedicate your resources to your actual risks.” tem will fit with the bank’s core system. “It’s a little late to ask that when you’ve written the check,” said Rentschler. “Do your homework.” She advised not only checking out the bank references provided by the vendor, but also trying to find users not recommended by the vendor. Examiners should be clear on the capabilities of the system the bank has adopted, and be told up front which release the bank is using. Rentschler told of a case where the exam team asked why the bank wasn’t using a particular package to do a series of checks that the bank knew it couldn’t do. The examiner insisted it could. After discussion, it turned out the examiner had seen a demonstration by the vendor of the very latest version of the package. That version had not yet been released to banks. BJ Monitoring software considerations Software does more and more of the rote detection and evaluation of BSA/AML compliance, but, again, thought has to be applied in how it is used and how much faith is put in it. Communication is also important, from the purchase of the software through to discussions with examiners about the software. Rentschler stressed the importance of knowing for certain the monitoring sys- INTERACTIVE INDEX OF ADVERTISERS Welcome to ABA Banking Journal’s Interactive Service Center. This section has been created to allow you to interact with the advertisers who appear in this issue and to gain information on the products and services offered in the following pages of the magazine. Company ABA Bank Directors Adobe Systems Affinion Group American Bankers Association Bank Financial Services Group Capital Resources CBI CDW Community Bank Products Cummins-Alison Corp DCI (Data Center Inc) DEI Incorporated EZShield Security & Identify Fraud Services Fidelity Investments GMAC Mortgage Subservicing Harland Financial Solutions Inc IBM Corporation Information Technology Inc IPS-Sendero Jefferson Wells Metavante Corporation PNC Retail Prudential Precision Computer Systems PULSE EFT Association SHAZAM Silverton Bank State National Companies Strunk & Associates L.P. SunGard WealthStation 605-362-1260 800-420-2122 800-844-8493 800-277-2265 888-525-5977 800-728-3116 630-769-4246 817-861-1051 281-440-1499 info@statenational.com mpaine@strunklp.com melissa.loverme@sungard.com 605-362-9442 713-223-1203 sales@pcsbanking.com webmaster@pulse-eft.com Tmiller@shazam.net www.pcbanking.com ww.pulse-eft.com www.shazam.net www.silvertonbank.com www.statenational.com www.strunklp.com www.sungard.com 414-319-3400 800-822-6758 866-GO-PNCCS 414-319-3401 414-362-1782 sales@metavante.com 402-421-4207 402-421-4236 partner@iti.fiserv.com www.itiwnet.com www.ips-sendero.com www.jeffersonwells.com www.metavante.com www.PNCCS.com 800-251-2148 800-338-0626 877-237-7300 866-523-6641 888-729-8183 800-399-4CDW 866-342-5178 877-236-4897 620-694-6800 513-825-5800 877-339-0027 866-728-5370 877-300-GMAC 800-989-9009 319-236-5175 solutions@gmacm.com 615-238-1102 847-299-4940 620-694-1150 513-825-1947 410-6776-3300 bhvasta@firstbankonline.com stellmachw@cummins-allison sales.dci@datacenterinc.com Hinton@dei-corp.com info@ezshield.org 609-243-8921 bfs@bfsgroup.com info@CapitalResources.com 800-282-9838 info@affiniongroup.com Phone # 212-620-7219 Fax # 212-633-1165 e-mail address scocheo@sbpub.com web site address www.bdonline.biz www.adobe.com/go/livecyclefsi www.affiniongroup.com www.aba.com www.bfsgroup.com www.CapitalResources.com www.consultantsandbuilders.com www.cdw.com www.firstbankonline.com www.cumminsgaming.com www.datacenterinc.com www.dei-corp.com www.ezshield.org www.fiws.fidelity.com/trust www.gmacsolutions.com www.harlandfinancialsolutions.com page # 41 55 6 47,49,51,C3 43 C2 24 13 29 53 19 21 40 C4 23 5 39 31 2 25 32-33 45 9 37 17 14 27 C4 1 11 60 OCTOBER 2008/ABA BANKING JOURNAL Subscribe at www.ababj.com http://www.bdbonline.biz/ http://www.adobe.com/go/livecyclefsi http://www.affiniongroup.com http://www.aba.com http://www.bfsgroup.com http://www.CapitalResources.com http://www.consultantsandbuilders.com http://www.cdw.com http://www.firstbankonline.com http://www.cumminsgaming.com http://www.datacenterinc.com http://www.dei-corp.com http://www.ezshield.org http://www.fiws.fidelity.com/trust http://www.gmacsolutions.com http://www.harlandfinancialsolutions.com http://www.itiwnet.com http://www.ips-sendero.com http://www.jeffersonwells.com http://www.metavante.com http://www.PNCCS.com http://www.pcbanking.com http://www.pulse-eft.com http://www.shazam.net http://www.silvertonbank.com http://www.statenational.com http://www.strunklp.com http://www.sungard.com http://www.ababj.com

Table of Contents for the Digital Edition of ABA Banking Journal - October 2008

ABA Banking Journal - October 2008
Contents
Editor’s Column
A Banker's View of FHA's "Hope for Homeowners" Program
Snapshot: Branch Sales Sag to Ten-Year Low
Covered Bonds Gain Interest after GSE Takeover
ABA Chairman’s Position
ABA Resources
Hot, Web, and Green
Rethinking Segmentation
Still Pushing the Envelope
Keep Regulation Functional
Capital Windfall?
Mortgage IT: Not This Year's Hot Property
Case in Point: Looking for Sales in All the Right Places
Put Your BSA/AML Program into Shape
Mailbox
Banker’s Mart
To Advertise/Index of Advertisers
Remembering Joe Kizzia, Veteren Editor of ABA Banking Journal
100th Anniversary: Then & Now
The Economy

ABA Banking Journal - October 2008

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