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Product Updates June 2019

Product Updates for June 2019

The Product Updates for June 2019 from BankPolicies.com feature the following new job description and revised policy template products:

Bankcard Product Manager Job Description Template – NEW!
OFAC Officer Job Description Template – NEW!
SBA Business Development Officer Job Description Template – NEW!
SBA Loan Closing Specialist Job Description Template – NEW!
Website Manager Job Description Template – NEW!

These new products were developed in response to client requests who submitted their suggestions to our “Client Wish List.”  Your comments and ideas are always greatly appreciated and will be taken into consideration whenever we revise our current products or create new ones.  In summary, we want to ensure your success and earn your business!


Bank Secrecy Act Policy Template – Basic Version
Bank Secrecy Act Policy Template – Comprehensive Version
Office of Foreign Assets Control Policy Template

The update to both of the Bank Secrecy Act Policy Templates in response to FinCEN’s Advisory FIN-2019-A003 entitled “Advisory of Illicit Activity Involving Convertible Virtual Currency” dated 05/09/19 that is intended to assist financial institutions in identifying and reporting suspicious activity concerning how criminals and other bad actors exploit convertible virtual currencies (CVCs) for money laundering, sanctions evasion, and other illicit financing purposes, particularly involving darknet marketplaces, peer-to-peer (P2P) exchangers, foreign-located Money Service Businesses (MSBs), and CVC kiosks.

In addition, the Bank Secrecy Act Policy Template – Comprehensive Version and Office of Foreign Assets Control Policy Template were updated in response to OFAC’s “A Framework for OFAC Compliance Commitments” dated 05/02/19 that provides organizations subject to U.S. jurisdiction, as well as foreign entities that conduct business in or with the United States or U.S. persons, or that use U.S.-origin goods or services, with a framework on the essential components of a sanctions compliance program. As a reminder, the complete contents of the Office of Foreign Assets Control Policy Template are included within the Bank Secrecy Act Policy Template – Comprehensive Version as Topic 19.


Keeping You Informed

We provide this Product Update Blog as a courtesy to all clients regarding new and revised products released by BankPolicies.com.  We feel that it is important to keep our clients well informed of changes to the financial institution industry, including keeping on top of federal regulatory changes, and industry recommended best practices.  In this regard, we encourage you to subscribe to our Product Update Notification List in which these types of announcements are made including any special offers that can save you time and money.  Just send an e-mail to our [email protected] address in order to be added to our distribution list.