Relationship Managers & AML Compliance: When Worlds Collide
Featured Speakers :
Ross S. Delston is an independent Washington, DC-based attorney, Certified Anti-Money Laundering Specialist (CAMS) and former U.S. banking regulator (FDIC). Ross has specialized in AML issues for over 19 years.
He has been a consultant to the International Monetary Fund (IMF) on AML and banking issues since 1997 and has been an expert witness in 14 civil cases involving AML and fraud. Ross has also participated in the monitorships of AIG and BNP Paribas and has conducted numerous AML audits.
Gary Ferrari is an accomplished executive and advisor across the Compliance and Financial Crime Risk Management landscape.
He is a former Executive Director – FCC Advisory for Ernst & Young, and Vice President – Global Compliance & Ethics at American Express, where he co-founded the corporate compliance program in 1991.
Ferrari has led AML Advisory, Technology, and Investigative client engagements.
Timothy Dunfey is currently a Legal and Compliance consultant for a credit card company.
Dunfey is a financial crimes compliance attorney and consultant with more than 20 years of experience in financial services management, sales, operations and compliance.
After receiving his J.D., being admitted to the bar and legal practice, Mr. Dunfey held the role of Deputy BSA Officer at Great Florida Bank where assisted in the implementation of the automated monitoring system, managed complex investigations and filed SARs.
Complimentary webinar, presented by ACFCS
Private banking is a high-risk proposition during the best of times: High net worth clients dealing in multi-million dollar deals and investments facilitated by their personal relationship manager (RM).
But when the RM decides that their profits outweigh the bank’s financial crime compliance controls, bad things happen.
Revenue-driven insiders can be one of the most insidious, and difficult to uncover, risks anti-money laundering (AML) compliance professionals and counter-fraud teams encounter and overcome.
The reason: these are individuals who have taken the time to learn AML defenses, but not to follow them, to outwit them.
But as in any illicit scheme, even one designed to evade risk monitoring and compliance controls, there are red flags that can clue in the bank that a RM has gone rogue.
Another solution is to upend the incentive structure and reward profit-focused departments for being an ally of compliance, rather than simply on meeting sales goals. Those and other issues will be analyzed by some of the top minds in the field today.
Attendees will learn more about:
- Red flags for conduct by RMs that is off the grid, off the charts and off the reservation;
- How banks and other FIs can provide a new incentive structure to manage these risks; and
- Real-life examples of RMs who assisted clients in evading their bank’s compliance controls.
This session is eligible for 1 CFCS credit.
Important note for ACFCS members: Please register using the same email address tied to your member account.
By registering for this webinar, you are sharing your registration details with ACFCS, the webinar presenter.