FIBA Blog

FIBA's New Look!

Mon, 13 Dec 2021 18:56:17 GMT

FIBA is making some big changes. As part of our rebranding in December, we are adding new benefits, changing our name, and restructuring our subscription plans to benefit our members.

Upcoming Changes
FIBA has been serving the international banking industry for more than 40 years. In 2022, we plan on making some changes to enhance your benefits and make membership even more accessible. Some of the upcoming changes include:

Benefits
As a member of FIBA, you will continue to enjoy all the benefits of membership, including:

Executive Education - The core of FIBAs mission is education. Enjoy educational resources, webinars, seminars, and classes on the most crucial topics in banking: compliance, wealth management, cybersecurity, and correspondent banking. Our education benefit includes our flagship programs, the AMLCA and the CPAML Compliance Certifications, in partnership with the Florida International University's College of Business Administration.

Event Access - Free and discounted admission to a wide variety of FIBA partner events, including the FIBA AML Compliance Conference and webinars.

Advocacy - FIBA is a trusted advocate and partners with local, state, and federal agencies to help with decision-making and lawmaking.

Networking - Benefit from networking with thousands of the most prominent figures and industry experts in international banking. You can join 11 different FIBA committees.

FIBA Connect – Access to FIBA's exclusive social media platform where you can connect with and network with other members to share information and provide assistance.

Membership Levels

FIBA has four membership levels that enhance our benefit packages and create affordable options for everyone. You can choose from the individual, silver, gold, and platinum plans.

Some of the highlights of each plan are:

Individual Membership ($250 annually) - The individual plan includes exclusive access to our members-only events and pages. Also included are free webinars, committee participation, access to networking opportunities, and our engagement platform, along with discounts (10%) towards FIBA/FIU certifications.

Silver Membership ($1,500 annually) - Our silver membership for non-financial institutions only includes everything the individual plan has, plus access to additional events, pages, free webinars, network opportunities, and special events.

Gold Membership ($3,500 annually) - The gold membership includes everything from the silver plan plus 10% off our FIBA Open Banking Platform event as a sponsor.

Platinum Membership ($5,500 annually) - Our platinum level is the highest. It includes 15% off the FIBA Open Banking Platform event as a sponsor, 10% off FIBA Conference sponsorships, FIBA branding for your corporate website (logos/banner/links), and a backlink on FIBA's website. You also will be included in the FIBA monthly newsletter, receive recognition at FIBA-sponsored events, can host a webinar, and get to be a guest on FIBA's podcast.

Regardless of the membership plan you chose, you are making a wise decision to join FIBA, the leading financial international banking association, to collaborate, learn from, and work with thousands of industry professionals from around the globe.

Stephanie Palmer Selected as FIBA's December 2021 Member of the Month

Wed, 8 Dec 2021 23:26:01 GMT

FIBA recognizes members who make meaningful contributions towards our mission. December’s FIBA Member of the Month is Stephanie Palmer, Chair of FIBA’s Women's Leadership Committee.

Stephanie is an Associate Director at HSBC Bank and a recognized leader with a passion for Treasury Management, Marketing & Branding. During her term as Chair of the Women’s Leadership Committee, for the last two years, she has supported the mission of promoting women within FIBA’s leadership. She was a key member of the “Women on Boards of Directors” task force. Stephanie enjoys creating networking opportunities for women and has been instrumental in bringing the issues of diversity, equity, and inclusion to the forefront.

Congratulations Stephanie, thank you for your time and your dedication to FIBA.

Why Should You Register for the 55th Annual FELABAN Annual Assembly?

Wed, 27 Oct 2021 20:10:03 GMT

There are dozens of great reasons to register for the 55th FELABAN Annual Assembly. Even if you cannot join in person, you can attend virtually from the comfort of your own home anywhere in the world.

The Benefits of Attending

FELABAN Annual Assembly is Latin America’s most prestigious international networking event for senior banking professionals. The benefits of registering begin immediately and include:

Networking with more than 1,500 international banking executives from 54 countries.

Learning about and discussing vital topics that affect the financial industry, such as financial inclusion, green finance, and global trade issues.

Exploring cross-border payment solutions, geopolitical challenges, and market volatility that affect global finance with other like-minded professionals.

Enjoy four days of networking with plenty of exciting events and private receptions to interact and learn from hundreds of leaders in the banking industry. You can even network with colleagues during the event's golf tournament.

Before the event, some virtual benefits include:

Interact with over 1,500 attendees prior to and during the event
Engagement & Networking platform to set up meetings from the time you register.
Complimentary access to webinars, podcasts & whitepapers.
Search participants’ list by title, company, name, country.
100+ days of interaction with your target audience.
Personal and group chats & video calls.
Calendar for scheduling meetings.

What to expect during the conference (in person or virtually):

4 days of the LIVE event in person and virtually.
30+ speakers.
Welcome reception.
General sessions.
Simultaneous translation of all sessions.
Live interaction with 50+ sponsors.
Expo Hall with 50+ booths.
Info Center & Spa Area.
Mobile app.
Search participants’ list by title, company, name, country.
Private and online group chats & Video calls.
Play & win great prizes!

After the event, you will have access to all the session recordings for three months. You will also receive a certificate of attendance.

Where and When is the Event?

The 55th FELABAN Annual Assembly will be held at the Diplomat Beach Resort in Hollywood, Florida, from October 30th through November 2nd, 2021.

You can join in person or attend virtually. Begin networking and enjoying the benefits as soon as you register. Don’t wait; register today!

FIBA Podcast Recap: Interview with Michele Fernandez-Daniel, FIBA Chair

Wed, 27 Oct 2021 20:03:56 GMT

Recently David Schwartz interviewed Michele Fernandez-Daniel, the current FIBA Chair. Michele has been in banking for more than 16 years and offers a fresh perspective to her role as FIBA Chair.

Michele’s Background

Michele began her career in corporate America, spending 6-7 years working in a call center in various sales positions. She eventually reached the management level just around the time that companies began outsourcing telemarketing jobs overseas. Seeing the writing on the wall, Michele decided to explore opportunities that would provide more job stability. Banking appealed to her because it focused on people and was not an industry that could easily be outsourced elsewhere.

Although banking appeared to be a good fit, Michele recognized that it was difficult to attain management status within a bank without prior experience. So, she took a job with a Fortune 100 company and worked her way up until she could transfer to the company’s banking department. Here Michele learned about compliance within the industry. Although the industry was very male-dominated at the time, she was fortunate to have good mentors (both male and female) who helped her advance in her career. In addition, her employer-provided excellent training and made diversity and inclusion priorities. Michele puts it best when she explains that inclusion and diversity are all about respect; “if we can respect one another and our differences, creating diversity and equality is easy.”

How Did Michele Become Involved with FIBA?

Michele was first introduced to FIBA when she worked for American Express and attended her first AML conference. FIBA has been a part of her professional development and networking strategy since the beginning of her career. Michele has maintained a connection to FIBA in one capacity or another for many years.

In terms of her platform as Chair for FIBA, she says her main goal is continuity. The last two years have been challenging for everyone shifting to a work-at-home environment. Her role as Chair will answer the question, “How do we keep FIBA going and help members get what they need to grow professionally and continue on the path to learning?” She is working tirelessly with the FIBA staff on meeting these goals.

Personally, Michele has faced the Covid challenges with an excellent support system and a great BCI team who has worked hard to keep things going and maintain consistency. Michele expects to see many organizations, including her own with BCI bank, continue with a hybrid remote-work model going forward. The important thing is retaining that connection between teams and not losing the culture. She suggests virtual coffee breaks, in-person lunches, or happy hours to foster engagement.

She states that one of the keys to advancing your career is education with a reputable organization like FIBA. FIBA has partnered with FIU to offer certifications. In addition, seasoned professionals who contribute to FIBA’s content and network add additional value.

When asked why it is essential to be a member of FIBA, Michele answered:

1) The Network – FIBA provides access to a vast network of banking and related industry professionals you cannot get anywhere else.
2) Educational Resources - The opportunity to gain access to a wealth of information through courses, webinars, and special events.

If you are not yet a member of FIBA, Michele urges you to join; you are missing out! She adds that FIBA is a great organization, a great value, and you won’t be disappointed.

FIBA Podcast Recap: Compliance Leadership & Motivation

Wed, 27 Oct 2021 19:59:11 GMT

Harry Cupp, FIBA Chair of the NextGen Committee, interviewed Alexander Fortich, Chair of the AML Compliance Committee, and they discussed the fascinating topic of compliance leadership.

Harry made an interesting observation that a compliance officer is a cost center challenging everyone to do the right thing. Covid has complicated matters further with new laws, regulations, and types of businesses.

The two touched on some essential points during their discussion, such as:

Leadership

Without a strong team, you will not be able to be compliant or attract and keep talent. Alex’s philosophy centers on empowering his employees to grow and do what they do best. Careers in compliance are ever-evolving due to changing laws, new regulations, and businesses. Alex feels that “Leading a team is critical to having a successful compliance program.” Roughly 20% of his job is about laws and regulations, and the other 80% is about building the team and dealing with interactions and conflict resolution. Alex does not believe in micromanaging but instead gives his people the respect they deserve and the power to do their jobs. He also sees his role as a resource supporting his staff with education, FIBA webinars, and online courses to get the most out of their careers. Alex prefers to be a leader instead of a boss.

Conflict Resolution

Learning to manage difficult decisions is a big part of the role as a leader. It’s best not to avoid things but face them head-on and always rely heavily on HR to ensure compliance with federal laws and company policies. Whether the conflict is with a boss or an employee, the solution is the same, pause to reflect before acting and always respect everyone involved. Never respond in the heat of the moment. Another key point he makes is to avoid corrective action in front of others. Always dole out discipline in private, or it could negatively affect employee morale and embarrass the team member. Always maintain a professional environment regardless of the situation.

How to Motivate Employees

The biggest challenge the pandemic has caused is how to maintain company culture and motivate employees. Thankfully paperless offices and digital technology have made things easier, but Alex believes you must go further to maintain that sense of cohesiveness among the team. He routinely celebrates birthdays and anniversaries and even hosts virtual happy hours to keep everyone engaged and motivated. Alex also schedules meetings just so team members can catch up and talk socially.

Keeping talent is extremely difficult, especially in South Florida, where the banking market is highly competitive. However, Alex offers two excellent suggestions for motivating employees to keep staff happy and engaged.

1) Empowerment is key to retaining talent. Besides, it is impossible to manage everything alone. Train your people well and then trust them to do the job. Offer them certifications, training, and be willing to invest in them. Become a part of their success.

2) Evaluation reports are critical. It’s an opportunity to congratulate team members and work with those individuals that need resources and help. Make a point to understand what is happening rather than pointing fingers or calling out mistakes.

Another point Alex makes is to treat everyone fairly with respect and provide constant feedback, not just around evaluation time. Always keep things professional and give credit where credit is due. Create that team environment by fostering respect, loyalty, and support. Network with other FIBA compliance leaders to share success stories, tips, and ideas.

Daniel Gutierrez, Vice President, Regulatory Risk Manager with Ocean Bank and Co-chair of FIBA’s Legal and Regulatory Affairs Committee Selected as FIBA’s November 2021 Member of the Month

Wed, 27 Oct 2021 19:51:18 GMT

FIBA launched a monthly initiative to recognize members who have made meaningful contributions to advancing FIBA’s mission to the benefit of all of our members.

The November FIBA Member of the Month is Daniel Gutierrez, co-chair of FIBA’s Legal & Regulatory Affairs committee! As co-chair, Danny has collaborated with our legal experts on advocacy efforts related to important regulatory issues faced by the financial services industry. Congratulations Danny, thank you for your time and your dedication to FIBA.

Daniel Gutierrez is a Vice President, Regulatory Risk Manager with Ocean Bank. Mr. Gutierrez has managed complex cases involving a wide range of clients from local to wealth management international portfolios including small privately-owned companies to large multinational entities located in the United States, Mexico, Central America, South America, and the Caribbean. Mr. Gutierrez has extensive experience in anti-money laundering, the USA PATRIOT Act, Bank Secrecy Act, Office of Foreign Assets Control (OFAC), and compliance matters. He currently speaks and provides frequent training on these before Government Officials, Local and International professionals as well as academic audiences.

Congratulations Daniel, thank you for your time and your dedication to FIBA.

Isabelle Wheeler, Director of AML Compliance At Foodman CPAs and Advisors Selected as FIBA’s October 2021 Member of the Month

Fri, 24 Sep 2021 21:37:06 GMT

FIBA launched a monthly initiative to recognize members who have made meaningful contributions to advancing FIBA’s mission to the benefit of all of our members.

The October FIBA Member of the Month is Isabelle Wheeler, chair of FIBA’s Membership committee! As chair, Isabelle led the effort to revamp and diversify FIBA’s membership and develop an improved value proposition. Congratulations Isabelle, thank you for your time and your dedication to FIBA.

About Isabelle

Isabelle Wheeler, a widely recognized leader in international banking, has a career spanning more than 30 years that includes institutions such as Citibank, Banco Santander, Credit Agricole, and BNP Paribas. During that time, she has worked with clients from virtually every country in Central and South America and has been involved in every aspect of wealth management, including relationship management, investment advisory, front-line supervision, and BSA/AML compliance in customer on-boarding and transaction monitoring. She was principal liaison with internal audit and regulators with respect to securities trading and client transactions and was responsible for developing risk assessments for wealth management activities. In 2014 she launched a consulting practice focused on regulatory compliance, and currently is Managing Director of Foodman CPAs and Advisors, a leading provider of FATCA, BSA/AML, and OFAC training and risk management solutions to financial institutions throughout the region.

Ms. Wheeler received a BA with Distinction from the University of Virginia, with a major concentration in Latin American Studies. She received the Chartered Financial Analyst (CFA) designation, the FIBA/FIU AMLCA certification and has held FINRA licenses 4, 7, and 24. She has been an active Member of FIBA’s Board of Directors for many years. She developed FIBA’s OFAC Course, the AMLCA for Law Enforcement, and is one of FIBA’s instructors for the AMLCA Certification. She is a Past President and Board Member of CFA Miami. She has been a panelist and speaker at industry conferences sponsored by FIBA and other well-known organizations.

AML Committee Spotlight

Fri, 24 Sep 2021 21:29:19 GMT

FIBA’s membership includes some of the largest financial institutions and most influential organizations in the world. Our members work on behalf of the international banking industry at the local, state, and federal levels to ensure informed policy development and decision-making. Whether it’s fostering meaningful connections between our members or helping to drive sensible well-advised public policy in the financial industry, we know that creating open, honest partnerships is what makes our organization thrive. Thus, to identify and address specific issues within each functional area of financial institutions, FIBA has developed 11 different committees that members can join. Our 11 committees are fundamental to FIBA’s successful relationship building, with one another, our community leaders, and our policymakers.

In this blog, we are highlighting the AML Compliance Committee, Chaired by Alex Fortich, SVP/BSA/AML Officer & CCD, US Century. Co-Chaired by Guillermo Horta, Chief AML Officer & Global Head, Scotiabank. With the assistance of Yamil Haidar, VP/Financial Intelligence Officer, U.S. Century Bank, and Pablo Gustavo Canton, Compliance/Bsa at Abanca USA.

Mission

The AML Compliance Committee’s mission is to advance and promote its members’ BSA and Compliance skills-set. The committee also facilitates discussion and support on current and developing industry anti-money laundering, compliance, and regulatory concerns, expectations, and practices.

Sweeteners

Members benefit from building a strong professional network (domestically and internationally) that allows them to connect with other professionals in the same industry. Together, members collaborate and exchange ideas that help them make better decisions. The purpose is to concur in forming one voice to policymakers in hopes of better and more efficient rules and regulations.

Activities and Participation

Committee activities include furthering members’ knowledge by attending training, webinars, conferences, and completing professional certifications. Committee activities also include drafting position papers and comment letters, forming task forces to manage specific events, inviting guest speakers on a topic of interest, or recommending training programs for professional development.

Get Involved

The purpose of the AML committee is to identify and promote initiatives and opportunities for establishing, expanding, and strengthening collaborations or partnerships across multiple entities (academic, private sector, and government) in our profession and to acknowledge and recognize those outstanding collaborations that really make significant impacts in advancing research and influencing policy.

If you are interested in learning more about a committee or joining, please contact Tania Maysonet at tmaysonet@fiba.net

Diversity, Equity, Inclusion, and Belonging Manager Learning Workshop

Fri, 24 Sep 2021 21:24:01 GMT

Why must diversity and inclusion be prioritized in the employment and retention lifecycle?

The best teams are made up of people from different backgrounds with a range of perspectives, experiences, knowledge, and skills. Different ideas, opinions, and views enrich the ways we solve problems in an increasingly complex and competitive world. Accordingly, as organizations realize the benefits of a diverse workforce, diversity and inclusion is becoming more of a business imperative. Organizations are creating diversity and inclusion programs, establishing diversity task forces, hiring diversity officers, and conducting diversity training in the workplace.

Why are diversity training programs valuable?

Diversity and inclusion programs work to help the organization structure workflow and processes in the organization to enhance and encourage diverse points of view and perspectives. When an organization truly embraces diversity, it is demonstrated in every process and in how leaders in your organization approach decision-making. Implementing a diversity training program is also an important step in helping to reduce the risk of workplace discrimination and harassment claims. In settling discrimination cases, companies are often required to educate employees on the importance of diversity in hiring and promotion, and how to avoid stereotypes. The gap between wanting and achieving successful implementation of diversity programs

Unfortunately, most managers have only a rudimentary understanding of diversity, equity, and inclusion (DEI). Companies know they should be focusing on diversity in the workplace, but struggle to take any steps to implement diversity and inclusion programs. They haven't received the training they need to hire and retain diverse talent and integrate DEI into their employee life cycle. Making matters worse, some leaders are unknowingly making decisions that are influenced by their own biases. The best remedy is through education.

Dr. Emmanuele Bowles is the Director, Diversity, Equity, and Inclusion at Florida International University. He and other FIU Subject Matter Experts are hosting two 2-hour virtual sessions to help HR personnel and leaders understand how to make your organization a more diverse place to work by understanding the perceptual, institutional, and psychological processes that impact racial, gender, and socioeconomic biases and the ways people interact with each other.

Topics covered include,
- Diversity, Equity, Inclusion, and Belonging: Understanding the Role You Play
- Thriving Across Our Differences with Inclusive Conversations
- Communicating with a Culturally Sensitive Lens
- Inclusive Leadership: Change Starts with YOU

Diversity and Inclusion training provides a common definition of what it is and what it entails, reduces legal liability, creates a safe space for employees, and benefits a company’s bottom line. With all these great benefits from training and diversity, why wouldn’t you want to start implementing diversity training in your workplace?

Individual and group rates are available. Join the in-depth discussion about Diversity and Inclusion Redefine leadership through the lens of diversity, equity, inclusion, and belonging.

Human Trafficking Course by Freedom Seal

Fri, 24 Sep 2021 21:10:10 GMT

What exactly is human trafficking?

Human trafficking involves the use of force, fraud, or coercion to obtain some type of labor or commercial sex act. It happens across and within national borders and affects virtually every country either as a country of origin, transit, or destination for the victims.

How does it affect society?

In addition to being one of the most egregious violations of human rights in the world today, human trafficking promotes the breakdown of families and communities, fuels organized crime, deprives countries of human capital, undermines public health, and imposes large socio-economic costs. Thus, the trafficking of human beings is a multifaceted global problem that demands a comprehensive cross-sector solutions.

How can I be a part of the effort to combat human trafficking?

Rani Hong, CEO of the Freedom Seal was stolen from her family and sold into slavery at the age of seven. As a survivor of child slavery, Rani has dedicated her life to becoming one of the foremost advocates for combating the crime of modern-day slavery.

Rani founded The Freedom Seal, the world’s first visual marker companies can use to clearly communicate to consumers they are actively taking steps to prevent forced labor and human trafficking in their practices. FIBA is partnering with The Freedom Seal and Rani to offer an online certification course in identifying, defining, and understanding forced labor, modern-day slavery, human trafficking, and money laundering.

Participants who enroll in the Individual Professional Certification will achieve:

- Introductory knowledge on the concepts of forced labor and human trafficking risks by understanding key terms, identifying steps in the trafficking process, and distinguishing between human trafficking and smuggling.
- Education on current definitions and practices of forced labor, modern-day slavery, human trafficking, and money laundering.
- An introduction on the ability to identify common causes leading to modern-day slavery, such as vulnerability factors and global trafficking patterns.
- Introductory knowledge on international standards relating to human rights due diligence by identifying general concepts of human rights and examining the relationship between business and human rights.
- The Freedom Seal badge, to be used on social media, email signatures, resumes, and more.

Participants who enroll in the Exclusive C-Suite Training will achieve:

- Knowledge of the issue of modern-day slavery in the business community.
- Information on how to stay compliant with the latest global legislation and adhere to international standards on Human Rights.
- Information about a risk assessment process and how it can be easily implemented to satisfy internal and external audit requirements.
- Understanding of the hidden risks within a supply chain.

Develop new skills and begin to build expertise in human trafficking to update your professional profile, broaden your knowledge base, and learn how to individually bring about change and awareness.

Save $140 on your individual certification by using code FIBA140 at checkout.

FIBA Unveils BankTalentHQ - Talent Gathers Here!

Thu, 2 Sep 2021 16:05:28 GMT

Attracting and retaining top talent is a challenge and priority that Florida banks face. We continually hear from our members how difficult it is to find quality employees and that the pool of available candidates has decreased exponentially over the last decade due to many factors; including changing demographics, negative press, and increasing regulations. The solution is here and it is BankTalentHQ.

BankTalentHQ is designed as a talent management resource for the financial industry and is brought to you by FIBA, in partnership with other state banking associations across the country. BankTalentHQ is the premier talent management site for financial industry careers.

“The banking industry was lacking a dedicated and focused, full-service talent management site, and that’s what BankTalentHQ brings,” said David Schwartz, President, and CEO of FIBA. “BankTalentHQ will connect top talent -- including candidates who currently are outside the industry -- to your institution. It will be the one-stop shop for your talent management needs.”

The main focus of the website, located at www.banktalenthq.com, will be the job board, which will allow you to post job openings for your institutions, with the ability to purchase a single 30-day post or a discounted posting package to fill multiple vacancies. The website will also allow internships to be posted at a discounted rate. Ancillary services currently being offered include industry news and articles, resume writing tips, career learning center, career/sales/management coaching, and Micro-internships. To make the site even more robust and tailored to your institution, additional services like career paths, job summaries, executive recruitment, and outplacement are in development. David Schwartz, explains, “The goal is to create a national brand with a holistic talent management website for the financial services industry. It will continue to evolve as needs and trends arise.”

BankTalentHQ will be marketing to candidates outside of the industry to pique their interest in banking careers, the key to driving additional talent into the financial services industry. The intention is to show the full scope of available jobs, from operations and human resources to financial management and marketing. We are in an exciting industry with endless opportunities, and BankTalentHQ will help that excitement resonate with potential candidates, drawing them into the industry.

In order for the site to grow quickly, we need job posts from as many Florida banks as possible. The more jobs posted, the easier it will be to build the talent pool of resumes. For a limited time, we will be offering DISCOUNTED postings for FIBA Members to assist in the progression of the site. Please use coupon code LAUNCHFIBA at checkout to receive 50% off a 30-day job posting. This code can be used an unlimited number of times until September 30, 2021.

Please connect with Sofia Villalobos at svillalobos@fiba.net if you have questions about BankTalentHQ.

Jairo Namur Selected as FIBA’s September 2021 Member of the Month

Thu, 2 Sep 2021 14:49:55 GMT

FIBA launched a monthly initiative to recognize a member who has made meaningful contributions to advancing FIBA’s mission to the benefit of all of our members.

About Jairo

Jairo Namur is the founder and Chief Commercial Officer of Intelligence for Action LLC, a Florida-based Fintech and consulting firm that helps financial institutions in Latin America and the Caribbean to introduce and apply innovative technology to payments and regulatory compliance initiatives. His industry expertise includes domestic and international cash management, correspondent banking, Regulatory Compliance, Global Custody, and Payment/Securities systems development. As a specialist in payment and securities market infrastructures, he has worked with private and government entities throughout Latin America and the Caribbean in establishing or modernizing payment and securities settlement systems.

Jairo is currently a member of the Board of Directors of the Florida Intl Bankers Association and is the Chair of the organization’s Innovation Committee. He also holds the prestigious FIBA/FIU Anti Money-Laundering Certified Associate (AMLCA) designation.

We thank Jairo for his time and dedication.

How to Register for an Online FIBA Event

Wed, 25 Aug 2021 22:00:40 GMT

Online learning is a great way to expand your understanding of a particular topic, extend your professional network, and have some fun.

Why Register for an Event?

FIBA specializes in education. FIBA has been hosting online and in-person events for years. We are conveniently located in Florida, but you can attend from anywhere in the world by registering for one of our online events.

We offer a wide variety of topics to choose from and employ some of the most prominent, world-renowned specialists to teach our classes and host our events. So, whether you are looking for certification, a networking event, or a webinar to learn more about topics that affect international banking, FIBA is the right place to be.

How to Register for a FIBA Online Event
Once you are a member, you can register for any event.

1.) First, log in to FIBA using the username and password you created when signing up.

2.) Next, if you do not have a profile created, create one.

3.) Once you have completed your profile, visit FIBA’s events page, and select the event you want to join. Next, click the “register” link next to the class, event, or webinar you wish to register to attend.

4.) Fill out the registration form.

5.) Depending on the option you choose, the event may be complimentary, or you may have to pay a fee.

6.) If the event requires payment, enter your payment details, and complete your registration.

7.) You will receive an automated email confirmation with a link to join the event at the specified date and time.

You can also click the calendar icon below the event to add it to your digital calendar automatically.

If at any time during the registration process, you run into problems or have questions, you can reach out to our support team at membership@fiba.net. We are always here to help.

Myths and Realities of Online Learning with FIBA

Wed, 25 Aug 2021 21:38:00 GMT

Some people have a preconceived notion about online learning. The list of myths and realities below will set the record straight about online classes with FIBA.

Myth #1 - Online classes are much easier than regular classes.
The truth is online classes are just as challenging as in-person instruction. To get the most out of each course, participants will need to manage their time effectively, stay organized, and submit professionally written assignments.

Myth #2 - You must log in and be online and available during specific times of the day.
All FIBA classes are asynchronous, and you can log on anytime, 24/7, to participate in classroom activities and submit assignments. Our classes are built around flexibility, and you can fit your education into your schedule your way.

Myth #3 - You can’t earn the same number of credits with an online class.
Not only do all FIBA’s online courses offer the same credits and competencies, but they are also taught by the same FIBA instructors who teach our in-person classes and certifications.

Myth #4 - With online classes, you don’t get the same level of support or academic resources as with in-person courses.
Along with the price of admission, each student will receive live, online assistance at no extra cost from FIBA and FIU. You may also take advantage of our help desk, and student services support at any time during enrollment and the entire class term.

Myth #5 - You don’t really need to participate in the classes
As a FIBA student, you are expected to participate in online discussions, communicate with other classmates and the instructors. We have discussion forums set up to host the classroom interaction and submit and review assignments.

Myth #6 - You have to authenticate your identity during course participation.
During your online classroom experience, you will only need to verify your identity when taking the final certification exam. However, you must use proper identification to authenticate your identity at that time.

Although online education is different than a physical classroom, FIBA’s courses and certifications are fully accredited and carry the same competencies and course credits as in-person learning. Online learning saves time and money along with travel expenses to and from the classroom. It also offers students flexibility and the convenience of studying on their own schedule. What are you waiting for? Sign up today.

Sergio Alvarez-Mena Partner, Jones Day Selected as FIBA’s August 2021 Member of the Month

Tue, 10 Aug 2021 18:48:02 GMT

FIBA is pleased to announce a monthly initiative to recognize a member who has made meaningful contributions to advancing FIBA’s mission to the benefit of all of our members. We encourage all members to contact us if they have ideas to share or if they want to increase their engagement with FIBA.

About Sergio

Combining years of private practice, in-house experience, and business leadership at leading international private wealth firms, Sergio Alvarez-Mena provides unique insight and solutions to the industry's private wealth challenges. A recognized industry leader, he represents clients in cross-border matters involving the U.S. and international regulatory authorities including in-country regulators. He regularly advises international banks and broker-dealers in their private wealth business on tax transparency, AML issues arising from private wealth matters, SEC and FINRA obligations, and conduct of business internationally. Sergio has an extensive legal and corporate background in cross-border regulatory matters involving the Latin American, European, and Asian private banking markets.

For the past few years, Sergio has been one of FIBA’s most valuable advocates and has done an outstanding job of raising FIBA’s profile as a thought leader in the financial services community. As Chair of the Legal and Regulatory Affairs Committee, he has created a process of issuing alerts on important regulatory issues and has worked with FIBA staff and regulators to ensure that the interests of FIBA members are represented. We thank Sergio for his time and dedication.

Correspondent Banks Face New Challenges Under the AML Act of 2020: Should Foreign Banks Worry?

Tue, 10 Aug 2021 17:22:55 GMT

Our recent webinar covered the impact regulatory changes in the Anti-Money Laundering Act of 2020 will have on domestic and foreign banks.

What is the AML Act of 2020?

In 2021, Congress enacted the Anti-Money Laundering Act (AMLA) designed to restructure the country's current anti-money laundering laws.

The Act itself is enormous (236 pages long) and drastically changes how international banks must document transactions, verify account owners, and interact with U.S. financial institutions.

The Implications of the AML Act of 2020 on Foreign Banks

The Act itself generously expands subpoena power allowing the U.S. to issue subpoenas on a much broader basis. Unfortunately, it also exposes domestic banks to more risk. For example, a foreign bank with a correspondent banking account with a U.S. bank receives a subpoena for documentation, and they refuse to comply. In that case, the U.S. bank could potentially have liability for their customer's actions, the foreign bank.

In terms of foreign banks, they can no longer use the "home country law" as their only defense when indicted for actions of non-compliance. The Act also includes much harsher sanctions toward these institutions.

For example, the foreign bank has seven days to comply with the subpoena request. If they fail to do so, they can be fined $50,000/day and the U.S. bank ordered to close the account. Failure to close the account in a timely manner can lead to the U.S. bank being fined $25,000/day The Department of Justice may even seize those assets.

The bottom line is U.S. banks will need to know their customer's customers, something which examiners have been requiring for many years. The Act also revamps the SAR (suspicious activity report) filing system, and it must be in line with national priorities. International banks have unique considerations, and these new regulations may be inconsistent with their current practices. The inconsistency and cost of compliance may be problematic, especially when some policies do not apply to these foreign banks.

Historically banks have done an excellent job of managing the risk of markets and products. However, now they must follow the national priority of financial inclusion, which complicates the issue. As a result, foreign banks will have to keep a close eye on their de-risking policies going forward.

Another item to consider is the requirement of diligent notification of custody change. For example, some banks do not allow bearer share accounts. If an account changes hands, how does the bank verify that the new owner does not have a bearer share account? Again, this goes back to "know your customer's customer."

Foreign banks will have to dig deeper and go further to find out the source of funds and verify the identity of account owners. Although it will slow down the process, if banks knowingly get it wrong (willful blindness), the ramifications will be severe.

Should Foreign Banks Be Worried?

In a word, yes. There are many things to consider, such as complying with these new regulations while also maintaining consistency in the way you do business.

Some of the more emergent issues are going to be:

Naming conventions with wire transfers now must be aligned with a government-issued ID. Currently, there is a lot of inconsistency there, including substituting the bank's information for the customers, making data tracking and processing complex. Foreign banks will have to tighten up this process otherwise they could see more SARs being filed and closing of accounts. The solution is training and a change of procedure that is in line with the new policies.

In other countries, a personal bank account might be used for business purposes. However, that practice creates a significant gap in policies at a U.S. bank and may end up with a possible SAR filing or account closing.

The good news is that domestic and foreign banks can work with FIBA to learn how to comply with the new regulations.

FIBA Webinars - Why Should You Register?

Tue, 10 Aug 2021 18:15:23 GMT

Did you know that FIBA offers dozens of webinars every year? If not, you are missing out on a valuable resource to increase your awareness and further your education.

What Do FIBA Webinars Offer Me?
FIBA is a non-profit organization dedicated to financial excellence and an international leader in financial education, offering a wide variety of courses to help you understand global banking issues, privacy and security best practices, and regulatory compliance.

Headquartered in Florida, FIBA’s members are some of the largest financial institutions in the U.S., Europe, Latin American, and the Caribbean.

Some of the topics we cover in our webinars are anti-money laundering, financial crimes compliance, banking regulations, cybersecurity, financial technology, and more. A few of our current offerings include:

Diversity, Equity, and Inclusion.
AMLA Subpoena Power
Forensic Audit as a tool against financial fraud

The above list is just a sampling of our diverse library of courses.

Why Register?
As a banking professional, it’s not enough to just know your role. Our industry is ever-changing, with complex new laws, emerging cybersecurity threats, and evolving best practices coming into play. It’s crucial to stay on top of the latest changes to remain compliant, expand your awareness of upcoming financial issues, and add value to your skillset. Continuing education can enhance your position in the company, increase your earning power, bring better benefits, and add more flexibility for you to grow in your current industry.

Some of the reasons to register for FIBA webinars are:
- Gain valuable insight into global financial markets, regulations, upcoming changes to current laws, and banking best practices.
- Add flexibility to your career by broadening your understanding of advanced areas of financial management and banking.
- Gain a competitive edge by learning all you can about the banking industry and global financial initiatives.
- Learn something new that enhances other areas of your life.
- Bring something extra to the table when collaborating with colleagues, associates, and peers.
- Network with others interested in the same topics.

Regardless of why you choose to register, FIBA has webinars for everyone on hundreds of relevant topics designed to educate and engage students of all ages and positions. Some webinars are aired live, and others are pre-recorded so you can watch them when it’s convenient for you.

Check out our extensive library of webinars today.

Did You Know You’re a Member of FIBA? Membership Benefits

Tue, 10 Aug 2021 16:22:52 GMT

Whether you are a financial institution, a private organization, or an individual, you are entitled to some outstanding benefits when you join FIBA.

What is FIBA?
Florida International Bankers Association (FIBA) is an international non-profit organization designed to connect global professionals to achieve financial excellence.

FIBA carries out its mission through extensive training programs, seminars and conferences, and membership connecting people from the U.S., Latin America, Europe, and the Caribbean.

The Benefits of FIBA Membership
FIBA believes that training, connecting, and educating successful professionals leads to a strong economy and a global financial backbone.

FIBA membership comes with many valuable benefits. As a financial professional, you can connect with other like-minded individuals, increase your awareness of banking and financial issues, and become a part of the solution towards change.

The benefits you are entitled to with a FIBA membership include:

Advocacy and Decision Making - When you partner with FIBA, you have access to advocacy, helping you make better decisions. You may also participate in any of our 11 committees and participate in state, local, and federal lawmaking. FIBA is an industry leader trusted by global financial policymakers helping to ensure that financial regulations benefit all parties.

Event Access - FIBA membership includes free or discounted access to many FIBA and FIBA partner events such as exclusive webinars, live speaking events, networking conferences, and training seminars. You also get a discounted pass to FIBA’s annual AML conference and participation in industry-expert-hosted events.

Financial Education - FIBA offers professional-level education on topics of interest in compliance, wealth management, cybersecurity, and trade. In addition, FIBA specializes in anti-money laundering compliance certification.

Quality Networking - Meet and connect with a distinguished group of unique, successful financial professionals to form lasting mutually beneficial relationships. Our networking events offer strong engagement and support in a comfortable setting.

AMLCA Certification - FIBA membership also includes a one-year complimentary registration for an AMLCA online course.

Along with these other great benefits, FIBA also offers a bonus with its exclusive social media platform and app. The tool allows members quick and easy access to connect on topics of shared interest, ask questions and gain insights through engagement. Some of the features include forums, messaging, direct access to industry leaders, and more.

These are just some of the financial services and resources available to you as a member of FIBA. If you want to know more about membership benefits, contact us.

Legal and Regulatory Affairs Committee (“LARA”)

Tue, 10 Aug 2021 15:03:45 GMT

FIBA’s core mission for its members and the Florida international banking industry is its educational and advocacy work. Its Legal and Regulatory Affairs Committee (“LARA”) spearheads those efforts with both State and federal regulators and helps shape public policy and regulation by providing industry-specific commentary to regulatory proposals as well as directly advocating for outcome specific results to certain regulatory undertakings. In the recent past, LARA has played a central role in rewriting Florida’s International Banking Code ($663 of the Florida Statutes) including the creation of Qualified Limited Service Affiliates through which marketing offices for offshore trust companies could compliantly market products to non-residents and resident professionals. More recently, FIBA directly intervened with FinCEN to achieve clarity on the filing of SAR’s for clients participating in offshore tax amnesties, an initiative which resulted in significant efficiencies and regulatory certainty for our members.

True to the good work in years prior, in 2020 LARA remained in the forefront of FIBA’s efforts to shape law and regulation for the benefit of our members. When the COVID-19 crisis began, FIBA gathered its internal experts and enlisted the cooperation of Florida’s OFR in quickly hosting “how to” supervise remotely and compliantly webinars.

Because the pandemic did not stunt the regulatory wave from Washington, FIBA continued its efforts in conforming the SEC’s Regulation Best Interest and its application to the cross-border private wealth business. FIBA was honored to host both of the SEC’s outreach sessions for South Florida and was a principal contributor in the comment process leading up to the Final Rule on Reg BI and in the FAQ process to clarify unresolved issues post- Final Rule publication.

Further on the securities regulation front, FIBA tackled a long-unresolved issue on the eligibility of US trustees to purchase Reg S securities through a non-resident Investment Advisor, providing needed and break-through guidance from the Staff to trust companies, broker-dealers and banks. FIBA also obtained clear guidance from the Staff on the interplay of Regulation Best Interest and ESG investing, which many had viewed as irreconcilable.

FIBA, and consequently LARA, are principal actors in the ongoing fight by financial institutions against money laundering. 2020 was no different. Via its commentaries and contributions to specific working groups tasked with drafting reforms, FIBA has weighed heavily in proposing $314(b) reform, a key concern for our members. Most recently, it crafted a specific-laden commentary to FinCEN on its Advanced Notice of Proposed Rulemaking, a FinCEN initiative designed to redesign financial institution AML programs. Among the key points addressed were the shift away from risk-based institutional freedom; the implementation of national –but not necessarily locally relevant – priorities and requirements that institutions reallocate resources to address those priorities; along with the lowering of reporting thresholds specifically targeting cross-border wires. Additionally, FIBA was specifically asked by the Florida OFR for its input on marijuana and hemp related compliance, and to which FIBA responded with concrete suggestions designed to provide objective and discernible criteria for its members.

In addition to those efforts, LARA continues to host webinars on the pressing topics of the day, including the newly passed Anti-Money Laundering Act of 2020 and its embedded Corporate Transparency Act establishing a national beneficial owner registry for State-formed entities qualifying as reporting companies. AMLA will create new obligations for our correspondent banking industry and LARA will continue to advocate for more reasoned approaches for our industry and members. Earlier in 2020, FIBA also held information sessions on LIBOR reform and scheduled Human Trafficking sessions to help spot indicia of Trafficking by financial institutions, along with information sessions on FCPA awareness for banks and broker-dealers.

FIBA and LARA are proud to contribute to our industry’s and members’ betterment. By marshalling our community’s top legal talent and, side by side with the business, crafting regulatory commentary and advocacy that is well-received and highly regarded by our regulators, FIBA serves as a powerful and effective voice. FIBA and LARA welcome your support and continued participation in its mission.