Strengthen Your OFAC Sanctions Compliance Strategy

A proactive culture of OFAC sanctions compliance is the current regulatory expectation for every business. Without a strong OFAC sanctions compliance program, your business could be exposed to lasting reputational damage and exorbitant fines. As the formalized OFAC compliance guidelines become the benchmark for a solid sanctions strategy, are you confident that you have an effective OFAC compliance program in place? 

Our webinar explores how recent changes in the OFAC guidelines are impacting businesses today. By walking through the “5 essential components of an effective sanctions compliance program”, the webinar raises critical considerations for evaluating your current OFAC strategy. The webinar also details how to implement a strong OFAC compliance program without compromising your budget or operations objectives. With insights from our leading compliance expert, the webinar walks through how to establish a stronger culture of compliance and protect your business with a more effective OFAC sanctions compliance strategy. 

The webinar provides an in-depth overview of the 5 pillars of an effective sanctions compliance program:

 

Pillar 1: Top level commitment to sanctions compliance across the enterprise demonstrated through the implementation and funding of a comprehensive program with an appointed OFAC sanctions compliance officer, adequate controls and overall enterprise-wide adherence to the program.

 

Pillar 2: The establishment of a risk assessment strategy that supports a risk-based approach on conducting due diligence of customers, client relationships and transactions, which should include on-boarding and ongoing processes, as well as mergers and acquisitions.

 

Pillar 3: Robust internal controls that include well-defined policies and procedures to identify, interdict, escalate, report and keep records related to OFAC sanctions.

 

Pillar 4: Effective levels of independent auditing and testing to evaluate the efficacy of the sanctions compliance program.

 

Pillar 5: Annual sanctions-specific training to communicate the sanctions compliance responsibilities of each employee and build a deeper knowledge base across the business on sanctions compliance expectations and accountability.

 

The webinar also walks through best practice routes to establish a stronger culture of compliance where optimal OFAC sanctions compliance effectively coexists with core business objectives and operations. Our leading compliance expert provides insights and real-world examples of creating an OFAC sanctions compliance program that is tailored to your specific business and realistically reflects your risk appetite and budget realities.        

 

Take advantage of our webinar and determine if your OFAC compliance program is robust enough to meet recently revised regulatory expectations.  You’ll get valuable details on the formalized OFAC sanctions compliance guidelines and in-depth insights to evaluate your current program and set a course toward a more proactive compliance culture.  

 

Fully understand the 5 essentials for an effective OFAC sanctions compliance strategy and uncover the areas where you can improve your OFAC sanctions compliance program and watchlist screening program.