The New Normal: How Digital Payments are Changing BSA/AML
Featured Speakers :
Anthony is Citi’s Global Head of the AML Risk Management Compliance department for Citi’s Treasury and Trade Solutions (“TTS”) and Citi Commercial Bank (CCB). Anthony works closely with Global business and Internal partners to ensure that TTS/CCB has effective AML controls.
Anthony has worked at Citi for 15 years all within AML Compliance. He has a special focus on our enhanced due diligence program for Citi cash management relationships with a focus on correspondent banking, digital banking and trade finance.
Prior to Citi, Anthony worked at HSBC and Barclays Capital.
Megan Davis Hodge is the Executive Compliance Director, BSA/AML Officer for Ally Financial and Ally Bank. Prior to joining Ally, Megan was with RBC in the US for 11 years, serving in various capacities, including: US Regional Head of AML, BSA Officer for RBC Bank, Chief Compliance Officer for RBC Bank, and Head of Compliance for US International Wealth. Previously, Megan was employed by Bank of America, where she held multiple positions developing and implementing AML strategies and began her career as a consultant with Accenture. She serves on the Board of the ABA/ABA Financial Crimes Enforcement Conference, the BSA Coalition and is co-chair of the ACAMS Carolinas Chapter. She holds a BSBA from The University of North Carolina at Chapel Hill.
Kim is currently the Chief AML Officer for Key Bank, headquartered in Cleveland, Ohio, where she is responsible for oversight of the bank’s BSA/AML and OFAC compliance programs. Prior to joining Key, Kim served as the Managing Director, Global Head of AML Infrastructure and Strategy for Citibank, where she had responsibility for global AML policies, issues escalation, SAR reporting, communications, regulatory tracking, training, and acted as the Chief Administrative Officer for the Global AML Compliance Program. Prior to her time at Citi, Kim served as the AML Strategies and Planning Manager for two years, and the head of AML for eight years, at SunTrust Bank in Atlanta, Georgia. Before moving into AML, Kim practiced as a corporate and securities lawyer for twelve years in private practice and at SunTrust Bank. Kim graduated with a Bachelor of Arts, cum laude, from the University of Southwestern Louisiana, and received her Juris Doctor, magna cum laude, from Tulane University School of Law, where she served as an Associate Editor on The Tulane Law Review and was a member of the Order of the Coif. She is a member of the Georgia and Florida Bars.
Carol Slattery is a senior manager in Regions Bank Financial Crimes Unit. She leads the BSA/AML Investigations & SAR Filing unit in its efforts to identify, investigate and report illicit financial activity and combat money laundering.
Carol is an accomplished banking professional with a broad mix of business, regulatory, compliance, BSA/AML, operations and management experience over 35+ years in banks, broker-dealers, a multinational investment bank, an international correspondent bank, a global insurance/annuity provider and in trust departments and hedge funds.
Carol joined Regions in 2006. Prior to this, she served in various roles in compliance and operations in brokerage firms, including as a supervising principal. She has participated in multiple “look-back” transaction reviews to identify suspicious activity related to consent orders. Under another consent order project, headed up the development and implementation of internal bank standards for CIP/KYC policies and procedures for a multinational investment bank.
Matthew is based in New York City and is the Chief Revenue Officer of Silent Eight. As CRO, he oversees all aspects of growth and is constantly seeking new avenues for Silent Eight’s award-winning AI to aid organizations in their fight against money laundering and financial crime. Matthew volunteers with a number of charities principally focused on advancing underprivileged youth. Follow Matthew on LinkedIn.
Complimentary webinar, presented by Silent Eight
Not too long ago, a banking client who relied heavily on mobile payment services to move large sums, used government stimulus checks to day-trade GameStop and AMC stock, and routinely transacted in multiple cryptocurrencies, would have been labeled a high-risk individual. Today, they’re called your average consumer.
In this new era of fast-proliferating electronic payment schemes, t’s getting harder and harder to get a handle on what normal activity is — let alone truly “risky.” Accenture predicts US$7 trillion in consumer spending will shift from cash to cards and digital payments by 2023, and the digital payments marketplace is set to grow globally at 19% CAGR between 2021 and 2028, with companies like Apple, Venmo and Square leading the way.
For banks trying to create meaningful risk profiles, the rate of change is rapidly outpacing their ability to adapt. What do these enormous changes mean for those in the financial services industry?
In our upcoming webinar, we will explore how these changes impact BSA/AML teams at today’s leading banks. We’ll address the challenges and struggles presented by the shift to digital, explore what the new “normal” is, and how it affects both customer expectations and internal bank processes, such as onboarding.
Our panelists include Anthony Fenwick, Global Head of the AML Risk Management Compliance department, Citi; Megan Hodge, Executive Compliance Director, BSA/AML Officer, Ally Financial and Ally Bank; Kim Lacey, Chief AML Officer, KeyBank; and SVP, BSA/AML Investigations & SAR Filing Manager, Regions Bank.
In this webinar you will learn:
- How is the rapid movement to digital payments changing BSA, and what is the New Normal?
- What have some of the world’s leading banks done to adapt to these changes?
- Where are banks struggling today, and why?
- How did 2020 change the game?
- What processes and tools are banks putting in place as a result?