News

18 January 2018

College Partners with Trustco Bank on New Bank Financial Security and Money Laundering Prevention Certificate Program

Officials from SUNY Schenectady County Community College (SUNY SCCC) announced today that the College will offer a new certificate program in Bank Financial Security and Money Laundering Prevention in partnership with Trustco Bank. The College plans to begin offering the program in an online format in Fall 2018.

Photo of officials from SUNY SCCC and Trustco Bank holding a large check for a $10,000 donation from Trustco to the CollegeTrustco Bank will donate $10,000 to the College, including five $1,000 scholarships to support the partnership. Pictured in the SUNY SCCC Business Center in Elston Hall are: Patrick Ryan, Vice President of Administration, SUNY SCCC; Michael Hall, Vice President of Compliance, Trustco Bank; Dr. Steady Moono, President, SUNY SCCC; Robert Leonard, Executive Vice President and Chief Risk Officer, Trustco Bank; Dr. Michael Roggow, Dean of the Division of Business, Criminal Justice, and Law, SUNY SCCC; Dr. Penny Haynes, Vice President of Academic and Student Affairs & Provost, SUNY SCCC; and Jennifer Meadows, Assistant Vice President of the Bank Secrecy Act Department, Trustco Bank.

The Federal Reserve requires employees at U.S. financial institutions to be trained on the Bank Secrecy Act aimed at assisting government agencies in detecting and preventing money laundering. While the new Certificate program is designed to train current bank employees to detect instances of money laundering and fraud in personal and commercial accounts, it is ideal for anyone interested in professional opportunities in banking industry forensics.

“Our new partnership with Trustco is a fine example of how the College responds to the needs of the workforce,” said Dr. Steady Moono, President of SUNY SCCC. “The certificate program will benefit not only students, but the banking community and public, as we educate students about anti-fraud practices.”

“SUNY Schenectady County Community College is a well-respected educational institution,” said Robert J. McCormick, President and CEO of Trustco Bank. “The faculty will ensure that students of this program are prepared to jump right into the workforce, which will make them valuable employees.”

The certificate program will include courses in accounting, business, law, and computer applications. Students take a culminating course covering the Bank Secrecy Act.  After completing the certificate program, students will qualify for employment in an anti-fraud division at a financial institution or may continue their education toward earning an associate’s or bachelor’s degree in Accounting or Business Administration.

“This certificate program is the first of its kind,” said Dr. Michael Roggow, Dean of SUNY SCCC’s Division of Business, Criminal Justice, and Law. “We are thrilled to partner with Trustco Bank in creating a program to educate employees of financial institutions about the important issues surrounding loss prevention.”

Robert Leonard, Executive Vice President and Chief Risk Officer for Trustco, said, “Under the Bank Secrecy Act, financial institutions play a vital role in identifying potential money laundering, possible terrorism financing, and other illegal banking activities. This certificate will provide the necessary training needed to have a strong BSA department.”

 

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