IBI Compliance Seminar Bulgaria - June 26th
Time Duration Agenda Item plus bullet points Speaker
09:30 00:15 Coffee & Welcome
09:45 00:10 Welcome & Intro Adolfo Bader
09:55 00:40 Identify and Mitigate Risk: Enhance your screening and KYC due diligence processes (English/Bulgarian language)
Third party screening and monitoring is a key part of the due diligence process in the financial sector. The presentation provides an overview how to use World-Check, the market-leading database, to avoid doing business with sanctioned or denied persons and entities.
Ulrich Büchsenschütz is a specialist in the area of due diligence, having worked in the area for the past decade. With his background in political risk analysis, he focused on Southeastern Europe for large parts of his career. For many years, he helped clients understand and manage the risks of doing business in Bulgaria.
10:35 00:40 Managing Third Party Risk and Effective Anti Corruption and Due Diligence for Business (English/Bulgarian language)
When risk management requires a higher level of knowledge of your business partners – either because of enhanced country risks, transaction volume or other factors – enhanced due diligence should be undertaken on these business partners. The presentation will provide insight into the methodology and best practice of enhanced due diligence.
11:15 00:20 Coffee Break and Networking
11:35 00:40 FATCA And OECD Common Reporting Standards in the Spotlight (Bulgarian language)
FATCA And OECD Common Reporting Standards in the Spotlight
The first sets of FATCA reports are due to be submitted early this year. Financial institutions will have to submit details of their American account holders to either the IRS or to their national tax authorities. This may be the easy part, however 90 countries have now committed to implementing the OECD’s Common Reporting Standards, and 58 of these recently signed a multilateral agreement to exchange financial account information.
• How will businesses manage the data gathering and validation required under FATCA and the IGAs?
• How can this scale up for multilateral reporting two years later?
• What are the major challenges businesses are facing in meeting these obligations – and will they resolve them? Mario Djendov
Mario is a FATCA Solution Specialist in the Financial & Risk team at Thomson Reuters and responsible for supporting client efforts in the area of Automatic Exchange of Information, including the OECD Common Reporting Standard and FATCA. Mario has 9+ years of professional experience in information markets, after first joining Reuters Italy in 2006. His track record on the Financial side of the business includes various roles across Europe, identifying and developing opportunities to grow the real time desktop proposition. Mario’s academic career includes an MBA degree from Imperial College Business School, London and an MSc in Financial Markets from Bocconi University, Milan.
12:15 00:05 Wrap up & Close Adolfo Bader