Integrating a Risk Assessment into an AML Program

Date of Event

9-23-2021

Description

MAFI Event

The FATF recommendations and regulators encourage financial institutions to adopt a risk-based approach to anti money laundering (AML) operations. In this virtual event, a panel of risk management experts will discuss risk assessments and risk management as it applies to AML compliance. Learn about the components of a compliant risk management process and how to apply risk management to successfully implement a risk-based approach to critical AML operations, specifically customer due diligence, transaction monitoring and reporting of suspicious activity.

Willie Maddox, CPA, CAMS, CRCM, is executive vice president and chief risk officer at Atlantic Community Bankers Bank. She joined the bank in 2019 and oversees its Risk and Compliance function. Maddox chairs the bank’s internal Risk Management Committee and is focused on evolving the company’s risk management infrastructure and capabilities.

Prior to this role, Maddox was senior vice president, business risk and compliance manager at Fulton Financial Corporation and was responsible for the consumer vertical, where she provided risk management and compliance oversight. Preceding this role, she was vice president, senior mortgage / retail credit lending compliance and risk manager. Her breadth and depth of banking experience is inclusive of strategic planning, business development, healthcare underwriting and accounting. She has been actively involved with compliance and enterprise risk management since 2005.

In 2010, Maddox was awarded the 1Key Chairman Achievement Award in her role at KeyCorp in NE Ohio; this notable award underscored her contribution to KeyCorp’s ERM Program and Policy. Also, in 2021, she was awarded the DCRO Institute Certificate of Risk Governance.

Maddox is a Distinguished Lecturer of Law at Case Western Reserve University School of Law. She teaches in the Master of Arts Financial Integrity degree program, which is an in-depth curriculum offering students a unique and comprehensive education in anti-money laundering, counterterrorism, and related integrity initiatives.

Maddox also serves as a Mid-Atlantic Alliance for Performance Excellence (MAAPE) Examiner, a Baldrige-based awards program that serves PA, NJ, and DE. This program helps organizations improve their performance and outcomes in seven areas defined by the Baldrige Excellence Framework: leadership; strategy; customers; measurements, analysis, and knowledge management; workforce; operations; and results.

Maddox received her Master of Business Administration degree from the Booth School of Business at the University of Chicago, and a Bachelor of Arts from Lakeland College, Sheboygan, WI. She is a Certified Anti-Money Laundering Specialist, Certified Regulatory Compliance Manager, Certified Public Accountant, Certified Global Management Accountant and holds a Certification in Risk Management Assurance.

William Brown, CAMS is chief capital, model and liquidity risk officer for Comenity Bank and a senior director of the risk management group at Alliance Data. He has over 25 years experience managing risk in the financial services industry with much of that spent working with all facets of BSA/AML programs. Bill has worked with teams building new BSA/AML program risk assessments, policy, staffing, systems design, model development, validation and testing of BSA AML programs in the Finance, Insurance and Banking industry. Brown has held positions as varied as a BSA/AML program executive, global sanctions leader, BSA/AML model risk manager and as an audit executive designed one of the first continuous audit practices for AML program testing.

Brown has Bachelor of Science degrees in Accounting and Finance from Cleveland State University and lives in Northeast Ohio with his wife Nadine (a proud CWRU PhD alum!) and dog Schuyler (who has no academic credentials).

Moderator John R . Moody, co-chair of ACAMS Northern Ohio chapter, is a native of Greater Cleveland and an accomplished CAMS professional. He has a bachelor’s degree in accounting from the University of Akron and CRCM from the Institute of Certified Bankers.

Moody is a founding director and co-chair of the ACAMS Northern Ohio chapter. He currently is an AML Manager in the Customer Risk Management Group at Huntington National Bank. His work has been in various roles at 9 different U.S. financial institutions. Moody draws from his earlier career roles, such as bank branch manager, accountant, compliance officer, and senior compliance auditor to add value to the AML Program he supports. He is a highly respected and experienced AML professional who is willing to share his thoughts on AML programs and financial crime prevention and detection with others dedicated to safeguarding the financial industry. ACAMS members may contact Mr. Moody through the ACAMS Members Directory. He may also be found on LinkedIn.

Subject Headings

FATF recommendations; AML; Anti-Money Laundering; Anti-Money Laundering and Risk Assessment; Risk Management and AML;

Location

CWRU Law Virtual Event

Document Type

Video

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