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ID# 006327

Why Reputation Monitoring is Key to a Strong Know Your Customer (KYC) Program
21 April 2017 09:00 AM - 12:00 AM

GRC Training Solutions
#4512 LEGACY DR STE 100
plano, TX 75024
United States
248-233-2049 (Main Phone)
Suitable for Children
N
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Description:

A high number of complaints may suggest your business customer is engaging in Unfair, Deceptive or Abusive Acts and Practices (UDAAP). Harmful businesses don’t disclose a poor or declining reputation, yet this can signal that your business customer is engaged in anti-consumer behavior. The Consumer Financial Protection Bureau (CFPB) is currently very focused on UDAAP, and is even targeting organizations that are not officially regulated by them. In addition, the Panama Papers leak is a recent example demonstrating how adverse media monitoring is an important tool to alert you about business customers that may be engaged in activities that don’t align to your risk profile.

Why should you attend:

Learn about regulations and guidance surrounding monitoring the complaints against the business customers financial institutions and payment processors serve and how the CFPB is managing through consent orders
Realize the value of checking your business customers and the principals for various complaints and adverse media
Learn best practices for taking a holistic approach to reputation monitoring to strengthen your KYC program

Areas Covered in the Session:

• Unfair, Deceptive or Abusive Acts and Practices (UDAAP)
• Consumer Financial Protection Bureau (CFPB) Overview
• Enforcement through Consent Orders
• Spotlight on consumer complaints
• Negative News
• Regulations and Guidance
• Reputation Monitoring best practices

Instructor Profile:

Jane Hennessy is Head of External Alliances at G2 Web Services, headquartered in Bellevue, Washington. G2 Web Services is a technology and services company that helps banks, processors and their partners ensure safer and more profitable commerce. Clients representing over half of merchant outlets globally use our solutions to identify bad actors and keep them out of the payments system.
Jane was previously Executive Vice President and Manager, Marketing, Strategy and Information Management, Cross-sell and International Personal Banking in the International Group, Wells Fargo Bank, N.A. Her responsibilities included marketing and strategy for all lines of international business including trade services and trade finance, foreign exchange, correspondent banking, international treasury management, international personal banking. Prior to that position, Jane was a Group Personnel Manager in Wells Fargo’s Wholesale Banking Group. She worked at Wells Fargo for nearly twenty two years.
Jane has consulted for banks, payment organizations and Fintech companies. She is on the Board of Directors of Oak Financial Software Corp. and a member of the NACHA Payments Innovation Alliance. She has spoken extensively at conferences on topics including international payments, business customer risk, authentication and retail banking.
Jane has a MBA from the University of Santa Clara, and MA and BA degrees from Michigan State University.


For More information
Email: david@grcts.com | Web: www.grcts.com | Tel:+1-248-233-2049
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