Effective Processes for Suspicious Activity Monitoring and Investigations (AML Track) Tuesday, May 22 3:00 p.m. 4:00 p.m. Join FINRA staff and industry practitioners as they discuss effective processes for suspicious activity monitoring and investigations into money transfer and securities activities. Panelists discuss how to establish and implement policies and procedures, as well as obligations for firms. During the session, attendees gain an understanding of the anti-money laundering regulations and steps firms can take to protect their organization. Moderator: Blake Snyder Senior Director FINRA Anti-Money Laundering Investigative Unit (AMLIU) Panelists: Brent Cohen U.S. Head of AML Compliance RBC Capital Markets, LLC Brian Curtis Global Head of AML BNY Mellon Pershing Becki LaPorte Vice President, AML Compliance Officer Advisor Group, Inc. 2018 Financial Industry Regulatory Authority, Inc. All rights reserved. 1
Effective Processes for Suspicious Activity Monitoring and Investigations (AML Track) Panelist Bios: Moderator: Blake Snyder is Director for FINRA s AML Investigative Unit, which consists of a specialized team of examination staff that conduct complex Anti-Money Laundering examinations. The AMLIU s other functions include providing guidance to FINRA examination and Enforcement staff in connection with examinations and investigations; providing training to FINRA staff throughout the country; and providing education and training to the industry on AML issues. Mr. Snyder assists in developing FINRA s AMLrelated priorities and serves as a Regulatory Specialist within FINRA in the areas of AML, fraud and financial crime. Mr. Snyder holds the Certified Regulatory and Compliance Professional (CRCP ) designation, and graduated from Florida State University with a Bachelor s degree in Finance. Mr. Snyder works from FINRA s Florida District Office, and has been with FINRA for 17 years. Panelists: Brent P. Cohen is the U.S. Head of AML Compliance at RBC Capital Markets, LLC responsible for oversight of AML, sanctions and the financial crime program for the institutional trading business, investment banking, corporate banking and the Royal Bank of Canada-World Financial Center branch. Prior to RBC Capital Markets LLC, Mr. Cohen served as the Director of AML Compliance within FINRA s Enforcement Department. His primary responsibilities included assisting with anti-money laundering issues arising in investigations and examinations, as well as advising staff FINRA-wide on issues involving the handling of suspicious activity reports (SARs). Before FINRA, Mr. Cohen was a vice president in the AML-Suspicious Activities Group at Goldman Sachs & Co. In that role, he was responsible for investigating potentially suspicious activity across the firm's various business lines, including private wealth management, prime brokerage and clearing and execution. Mr. Cohen also previously served as an assistant general counsel in the Money Laundering Prevention Group at UBS Financial Services, Inc., where he investigated possible violations of the Bank Secrecy Act ("BSA") and provided legal advice to business units concerning BSA requirements and the implementation of the firm's policies and procedures. Mr. Cohen received his B.A. from the State University of New York at Albany, from which he graduated summa cum laude, and his J.D., with honors, from the University of North Carolina School of Law. Brian Curtis is Global Head of Anti-Money Laundering for BNY Mellon s Pershing, as well as the Head of Compliance for Pershing s Florida Regional Office. In his role, Mr. Curtis is responsible for overseeing all areas of Pershing s Global AML Program including Surveillance and Investigations, Sanctions Compliance, and Suspicious Activity Monitoring and Reporting. Prior to his current position, Mr. Curtis led Pershing s KYC Program where he managed a team responsible for the initial due diligence and ongoing risk monitoring of Pershing s clients globally. Before joining Pershing, Mr. Curtis was Chief Compliance Officer and Chief AML Officer for Newbridge Securities Corporation and Newbridge Financial Services Group. He also had a successful career as a Compliance Specialist in FINRA s Regional Florida District Office, where he led numerous examinations focused on compliance and Anti-Money Laundering programs as well as participating in key regulatory initiatives. Mr. Curtis has held leadership positions as an industry consultant focusing on key regulatory initiatives for Broker-Dealers, Registered Investment Advisers, and CFTC Registrants. Mr. Curtis maintains a B.A.A. from Central Michigan University, an MBA from Florida Atlantic University, various FINRA licenses, and is an active FINRA Arbitrator. Becki LaPorte is Vice President and AML Compliance Officer for Advisor Group. The four broker-dealers that comprise Advisor Group are FSC Securities, Royal Alliance Associates, SagePoint Financial and Woodbury Financial Services. Advisor Group is one of the largest networks of independent broker-dealers in the United States. Ms. LaPorte s team is responsible for reviewing and investigating activity across the financial crime spectrum including AML, fraud, and account intrusion. Prior to Advisor Group, Ms. LaPorte served as an Associate Director and Lead Compliance Trainer for FINRA. She developed and delivered training to FINRA examiners and investigators. She also provided guidance and consultation on open examinations and investigations specific to fraud and AML. She possesses nearly 20 years of financial services experience. She is a Certified Anti-Money Laundering Specialist (CAMS) and a Certified Financial Crime Specialist (CFCS). She also serves as a member of the ACFCS Advisor Board. 2018 Financial Industry Regulatory Authority, Inc. All rights reserved. 2
2018 FINRA Annual Conference May 21 23, 2018 Washington, DC Effective Processes for Suspicious Activity Monitoring and Investigations (AML Track)
Panelists Moderator Blake Snyder, Senior Director, FINRA Anti-Money Laundering Investigative Unit (AMLIU) Panelists Brent Cohen, U.S. Head of AML Compliance, RBC Capital Markets, LLC Brian Curtis, Global Head of AML, BNY Mellon Pershing Becki LaPorte, Vice President, AML Compliance Officer, Advisor Group, Inc. 1
To Access Polling Under the Schedule icon on the home screen, Select the day, Choose the Effective Processes for Suspicious Activity Monitoring and Investigations (AML Track) session, Click on the polling icon: 2
Polling Question 1 1. What is the size of your firm based on approximate number of customer accounts: a. Over one million accounts b. 100,000 to 999,999 accounts c. 10,000 to 99,999 accounts d. Under 10,000 accounts 3
Polling Question 2 2. How does your firm monitor for potentially suspicious activity? a. Automated surveillance b. Exception Reports c. Manual reviews d. A combination 4
Polling Question 3 3. What group/department at your firm conducts trade surveillance to detect AML red flags? a. AML Department b. Compliance Department c. Control room d. Business e. Other or hybrid 5
Polling Question 4 4. How does your firm manage and document suspicious activity investigations? a. We use a case management system b. We use an excel spreadsheet c. We keep all of our discussions in emails d. We handle everything through informal discussions 6