Monday, November 30, 2020

Week of Aug. 3

In This Issue…

Answer leadership’s call: OBA Emerging Leaders Academy accepting applications

Take note the OBA 2020-21 Emerging Leaders Academy is currently accepting applications.

We’re looking for the best and brightest bankers who seek to sharpen their leadership skills. The Academy will help you reach new heights with powerful speakers offering information leaders need for effectively maneuvering in today’s business climate. Each session helps participants become true leaders by understanding those around you through non-traditional methods.

The OBA extends an invitation to any employee of a bank that is a member of the OBA to apply. A panel of bankers will review the applicants and choose those accepted into the Academy (maximum 30 bankers). Participants must attend all sessions to successfully graduate from the program.

There are six sessions to the Academy: Nov. 4, Dec. 10, Jan. 22, Feb. 23, March 26, April 30. Graduation will take place in May 2021 at the OBA Annual Convention.

Click here for more information or to apply! For more information, please contact Megan McGuire at (405) 424-5252 or megan@oba.com.

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OCC issues rule on account withdrawals from collective investment funds

The Office of the Comptroller of the Currency issued an interim final rule today clarifying rules regarding account withdrawals from collective investment funds.

The rule amends the OCC’s requirements applicable to national banks and federal savings associations administering CIFs invested primarily in real estate or other assets that are not readily marketable and codifies the time a bank generally has for withdrawing accounts from those CIFs. The rule establishes an exception that allows a bank to extend the period for withdrawals, with OCC approval and provided that certain conditions are met. The rule also creates an opportunity for additional extensions with OCC approval.

The extended withdrawal period under the OCC rule enables banks to preserve the value of CIF assets for the benefit of fund participants during unanticipated and severe market conditions, such as those related to the national health emergency resulting from COVID-19.

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Check out OBA’s Strategic Members COVID-19 Resource Page

To help our member banks have access to as many resources as possible during the COVID-19 pandemic, the OBA is collecting information from our strategic members and other affiliated businesses that are providing important information and help.

Click here to visit the page on the OBA website. And if you’re a strategic member and would like to have your own information listed, send an email to Thi (thi@oba.com) at the OBA!

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OBA education corner …

Some live events are starting to peek their heads out from underneath the blanket! Look for those coming up soon. You can also download a flyer highlighting upcoming webinars by clicking here, or just peruse below for those coming soon!

NOTE: Effective March 16, and until further notice, TTS (our webinar provider) has extended the OnDemand access period for all ‘Live Plus Five (Days)’ registrants to 60 days (versus five business days). Also, they are waiving the $75 per location fee for additional locations

  • Job-Specific BSA Training for Lending Departments, Aug. 11, webinar — This session will detail BSA/AML rule components, including red flags for mortgage and commercial loan fraud, CIP documentation, CDD rules-including documenting beneficial ownership, OFAC screening, CTR completion and much more!
  • 2020 Virtual Vendor Management, Aug. 13, virtual seminar — Outsourced third party (vendor) risk management is a top priority with the regulators. Therefore, ensuring your program is not only going to be effective but also meet with their expectations needs to be a priority for financial institutions.
  • Internal Audit Seminar, Aug. 18, Oklahoma City — This seminar will emphasize the importance of a strong risk assessment in any bank and the role this risk assessment, along with a sound and effective audit plan can have in helping a bank avoid fraud.
  • Credit Analysis Basics, Aug. 19, Tulsa; Aug. 20, Oklahoma City — We will cover the basics of the three main areas of lending- consumer, mortgage, and commercial lending. Each of the three areas will be illustrated with real-life case studies.
  • Implementing the Revised URLA: Here Are The Details!, Aug. 19, webinar — Join us as we work through each of the FIVE sections, line by line, offering implementation and training tips throughout the way.
  • Director Compensation and Compensation Committee Best Practices, Aug. 20, webinar — This session summarizes relevant compensation regulations and their impacts on director pay. Findings from our BCG director survey and trends survey will be incorporated as well.
  • 2020 OBA Compliance School, Aug. 24-28, Oklahoma City — Students will return to their banks equipped to deal with compliance regulations that impact lending practices and deposit functions as well as other related federal and state laws and regulations.
  • ACH Exception Processing, Aug. 26, webinar — Gain a better understanding of exception processing from returns to notifications of changes to DNE and more, plus return reporting requirements.
  • An Introduction to Fiduciary Accounts, Aug. 27, webinar — While documentation requirements vary from state-to-state, the general principles behind most fiduciary accounts remain the same. Join Regulatory Compliance Counsel Michael Christians for a high-level overview of the fiduciary accounts your financial institution is most likely to encounter.
  • BSA Emerging Issues – Impact of COVID on Transaction Monitoring, Aug. 27, webinar — What are the important issues facing the BSA Department in 2020? During this program we will focus on the new and continuing issues of 2020.
  • Power of Attorney Documents – How To Prevent Loss, Aug. 28, webinar — This program will look at power of attorney “dos and don’ts” and how to prevent your institution from making costly mistakes in handling these high-risk documents.
  • 2020 Supervisor Bootcamp, Sept. 3, Oklahoma City — Explore the coaching and leadership skills that lay out your plan for success as a highly effective supervisor in this results-oriented workshop!
  • 2020 Virtual FDIC Banker Outreach, Sept. 9, virtual seminar — All bank directors, CEOs and executive officers are encouraged to participate in this timely update. Compliance officers also will find the information useful.
  • 2020 OBA Basic Banking School, Sept. 14-17, Oklahoma City — The school is designed to introduce students to basic banking concepts as they relate to the overall functioning of a bank.

Additionally, the 2020 Women in Banking Conference, scheduled for Oct. 23, will now be a FREE virtual event! Registration will open in late August. The OBA staff, along with representatives from the Federal Reserve Bank and the CBAO are in the process of finalizing the agenda. Mark your calendars now and plan to participate in this informative conference.

Also, we do have a couple openings in the 2020 Compliance School. Contact Janis immediately if you are interested in attending. (Note: Enrollment is limited: each person has their own table, classroom is “spaced” to allow social distancing, masks required.)

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