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Anti-Money Laundering 2019: Risks, Due Diligence and Compliance in an Evolving Legal and Technological World


Speaker(s): Angelena Bradfield, Beverly Jules, Carlos S. Orel, Gregory Lisa, Jamie Boucher, Jennifer Benda, Peter Hardy, Teresa A. Pesce
Recorded on: May. 14, 2019
PLI Program #: 254934

Angelena Bradfield is Vice President, AML/BSA, Sanctions & Privacy for the Bank Policy Institute. Previously, Ms. Bradfield was a Vice President at The Clearing House Association, where she supported its regulatory affairs department in various policy areas, with a focus on anti-money laundering and combating the financing of terrorism, sanctions and privacy.

Previously, she supported comprehensive immigration reform efforts at ImmigrationWorks USA. She also worked on various domestic policy issues at the White House where she served as a staff assistant in both the Domestic Policy Council and Presidential Correspondence offices. She received her MBA in International Business from the University of Edinburgh and a BA in Political Science from the University of California, Irvine.


Beverly Jules is an officer and head of the Compliance Risk Team within the Large Foreign Banking Organization (LFBO) Function’s Risk and Analysis Department.  Since 2005, she has been responsible for assessing the Bank Secrecy Act/AML compliance program of financial institutions as a member of SG’s Anti-Money Laundering (AML) Unit.  Her responsibilities also include assessing corporate compliance programs and monitoring compliance with enforcement actions.  She has served as an instructor in SG’s training programs and AML seminars offered through the Federal Reserve’s International Training and Technical Assistance Program. In addition, she has been a panelist in industry conferences.

Beverly joined the Bank in 1992 as a specialist in operations, accounting and audit.  Prior to joining the Bank, she was an internal auditor at Chase Manhattan Bank for 6 years.

Beverly, a Certified Public Accountant, holds a B.S. degree in Accounting from Marymount Manhattan College and an MBA in Finance and Information Systems from New York University. 


First and Foremost

Family time is special.  I have been a husband to my beautiful wife for over 31 years, a dad to our awesome girl for 24.  I enjoy working around the house, building hot rods, and riding horses with my girl – if it is our father-daughter time, we get to go places and see things in a manner that few do.

 

What I Do

As the head of AML Risk, Products and Monitoring I have the privilege to lead an amazing team who delivers with pride every time.  My team is responsible for managing the AML risk related to new Products and Services that the Bank wants to bring to market, objectively measure business line compliance to AML requirements, evaluate AML models and execute against Operational Risk Management requirements. I am based in South Carolina, travel frequently to Mt. Laurel where the majority of my team is based.

 

What got me here

I have over 25 years of Compliance experience. I started Bank Secrecy Act (BSA)/AML work in the mid-90s.  Later I discovered that it had become a passion and continued developing that path into my current profession.  I thank the many mentors and sponsors that invested their time and wisdom in me along the way. I continue to stay in contact with most.

 

What excites me about my work

AML work continues to evolve and provides an ongoing challenge.  I am passionate about paying it forward by identifying and fostering leaders.  It has become a daily principal driver.

 

Language Skills

Fluent in Spanish (speak, read, write)

Community Involvement

Chair for Latinos in Leadership Metro Carolinas chapter

Minority in Leadership Metro Carolinas Subcommittee

2015 to current - SMU COX Executive Education CEDP Mentor

 

Life lessons…

There is never a bad experience as long as you learn from your mistakes.

Always be true to who you are, to your background, to your culture.

Some look at the glass as half full, others as half empty. I prefer to think that it does not matter too much which side is which.  We need both air and water to survive.  Use them both wisely.

The destination is important, but how you get there… now, that's what counts.  Read "The Dash" by Linda Ellis.

Make every day count.

 

If you'd like to talk, give me a call.


Gregory Lisa is a partner at Hogan Lovells, where he uses his extensive firsthand experience in anti-money laundering and consumer protection to help financial institution clients navigate the complex regulations and expectations of regulators, examination teams, and law enforcement agencies, civil and criminal.

In addition to working with established financial institutions, such as banks and credit unions, casinos, and money services businesses, Greg also represents and counsels financial services innovators, including emerging payment and finance systems, virtual currency companies, and other new financial services companies, particularly in the FinTech space.

Before joining the firm, Greg was the Interim Director of the Office of Compliance and Enforcement at the Financial Crimes Enforcement Network (FinCEN), the Treasury Department's lead regulator for overseeing and enforcing anti-money laundering laws. Greg also served as the Chief of the Money Services Businesses and Casinos Section within FinCEN's Enforcement Division. During his tenure, he supervised and conducted a number of investigations, supervisory exams, and enforcement actions across FinCEN's broad jurisdiction, including joint investigations into large depository institutions, global securities firms, casinos, cryptocurrency exchangers, and other financial institutions.

Prior to his work at FinCEN, Greg served in the Office of Enforcement at the Consumer Financial Protection Bureau (CFPB). As one of its earliest members, having joined before the actual formation of the CFPB, he helped to "stand up" the Bureau's enforcement program. Greg conducted and led a wide range of enforcement investigations relating to mortgages, student loans, credit cards, debt collection, and a host of other matters covered by the Dodd-Frank Act.

Before working at FinCEN and the CFPB’s enforcement offices, Greg served for twelve years at the U.S. Department of Justice, first in the Civil Division, and then for ten years as a federal criminal prosecutor in the Organized Crime Section, where he investigated and prosecuted money laundering, fraud, RICO, and violent crime offenses.


Jamie Boucher is head of Skadden’s Financial Institutions Regulatory and Enforcement Group and the global anti-money laundering and sanctions practice. Her clients include U.S. and international banks, thrifts, mortgage lenders, insurance, securities, money service businesses and investment companies.

Ms. Boucher, a member of the practice group named 2018 White Collar/Regulatory Litigation Department of the Year by The American Lawyer, regularly represents global financial institutions on complex cross-border compliance and enforcement matters including examinations, internal investigations, voluntary disclosures, and the resolution of administrative and enforcement proceedings involving federal and state regulatory agencies and law enforcement.

With extensive experience in cross-border anti-money laundering, economic sanctions, banking secrecy and data protection compliance matters, Ms. Boucher has counseled U.S. and international clients on numerous issues arising under the U.S. anti-money laundering and economic sanctions laws and related laws.

In addition to the representation of clients in investigations and contested proceedings, Ms. Boucher regularly works with financial institutions and their boards to provide guidance on compliance and corporate governance issues. She has worked extensively with clients to design and implement compliance programs, and to monitor and improve corporate compliance posture.

She also has represented clients on various aspects of federal lending, capital and liquidity support programs, including those established pursuant to the Emergency Economic Stabilization Act of 2008. She additionally advises clients on the implementation of the Dodd- Frank Act and strategic transactional and compliance responses to the Act.

Ms. Boucher is a frequent speaker at seminars on financial institution compliance and regulatory issues, mergers and acquisitions, and enforcement matters. She repeatedly has been selected for inclusion in Chambers USA: America’s Leading Lawyers for Business and The Best Lawyers in America, as well as in Washingtonian Magazine’s Best Lawyers list for her work in banking and regulatory enforcement matters. She was named a finalist in the Regulatory Lawyer of the Year category at the inaugural Chambers USA Women in Law Awards. Ms. Boucher also has repeatedly been named in Lawdragon 500 Leading Lawyers in America and as Best Lawyers’ 2019 Washington, D.C. Litigation - Banking and Finance Law Lawyer of the Year.

Before joining the firm, Ms. Boucher worked for 12 years in government and the private sector on matters involving international trade and investment regulation. She served as the legislative adviser for international trade and foreign policy to former U.S. Sen. Frank H. Murkowski; an adviser to the American League for Exports and Security Assistance on trade and national security issues; and a committee staff member on the U.S. Trade Representative-Department of Defense trade policy advisory committee, the Defense Policy Advisory Committee on Trade.

Ms. Boucher serves on the American Bar Association Task Force on Anti-Money Laundering Compliance in the Legal Profession and is the past chair of the Banking Law Committee, Subcommittee on Mergers and Acquisitions. She is a member of the American Council of Young Political Leaders.

 


Jennifer Benda is a partner in the Denver, CO office of Fox Rothschild LLP specializing in tax aspects of business transactions, tax controversies, and cannabis law.

Jennifer graduated with honors from the George Washington University Law School in 2005. Before and during law school, Jennifer was a CPA who worked for two of the Big Four accounting firms and also as a tax manager for a Fortune 500 healthcare company.  After graduation she was an associate at a national law firm before joining Fox Rothschild LLP in 2015. 

Jennifer has been recognized by Chambers USA for cannabis law and was named a Cannabis Law Trailblazer by The National Law Journal. She is a frequent speaker on taxation and other business issues for cannabis companies, and has written extensively on this topic as well. She is also volunteer and coordinator for the ABA Adopt-A-Base program through which she has provided training to military VITA volunteers on bases in Colorado since 2015.


Peter Hardy is a Partner in the White Collar Defense/Internal Investigations Practice Group of the law firm of Ballard Spahr LLP, in Philadelphia, PA.  Before entering private practice, Peter served for a combined 11 years as an Assistant United States Attorney for the U.S. Attorney’s Office in Philadelphia, and previously as a Trial Attorney in the Criminal Section for the Department of Justice’s Tax Division in Washington, D.C. 

Peter is the author of a legal treatise entitled Criminal Tax, Money Laundering, and Bank Secrecy Act Litigation (Bloomberg BNA 2010), and edits Ballard Spahr's financial corruption blog, Money Laundering Watch.  Peter is a member of the American College of Tax Counsel. He is the leader of Ballard Spahr’s Anti-Money Laundering Team, and is a co-leader of the firm’s Blockchain Technology and Cryptocurrency Team.

Peter graduated from the University of Michigan Law School and served as a law clerk for federal judges in the Eastern District of Michigan and the Court of Appeals for the Sixth Circuit.


Teresa (Terry) Pesce is a principal in KPMG's Forensic Advisory Services practice.  She is Global Head of AML Services and Head of Financial Crimes Solutions in the US. Based in New York, Terry possesses a diversity of skills in forensic and Anti-Money-Laundering (AML)-related areas. As leader of the AML service line, Terry has spearheaded numerous engagements assisting a variety of financial institutions in addressing AML and sanctions issues, both proactively and reactively. These engagements have involved assistance with the design of AML programs; assistance with the design of policies and procedures; assessing gaps against regulatory requirements and leading practices; assessing money-laundering/OFAC risks; testing systems and controls; conducting transaction reviews; conducting customer file remediation and risk ranking; creating management reporting and metrics, among other things. Terry has additionally assisted institutions in connection with investigations involving fraud and misconduct. During the course of her with financial institutions Terry is often called up to report directly to regulatory agencies in connection with assistance of assessments KPMG has provided.

Before joining KPMG in early 2007, Terry was Executive Vice President and AML Director for the North American operations of a global bank, joining the bank to build out the AML compliance function for all business lines in response to a regulatory order imposed in 2003 and lifted by the OCC during her tenure in 2006. Her responsibilities included management and oversight of teams responsible for the creation and maintenance of policies and procedures; testing; training; investigative/financial intelligence programs; transaction monitoring; OFAC/sanctions compliance; and business line AML compliance. Terry was the primary contact for the bank’s regulators (the FRBNY, OCC inter alia) during all AML-related examinations. Terry worked with peers throughout the globe to provide assistance in the conduct of anti-money-laundering compliance across all divisions of the bank globally.

Prior to joining the bank in late 2003, Terry served as Chief of the Major Crimes Unit, and Deputy Chief of the Criminal Division in the United States Attorney’s Office, Southern District of New York. There she gained extensive experience prosecuting and supervising the prosecution of major white collar criminal cases, including money-laundering, bank and investment fraud, and tax and wire fraud. From 1999 through 2003, Terry was responsible for supervision and oversight of all money-laundering and tax prosecutions and worked closely with the financial regulatory agencies responsible for oversight of AML enforcement.

Terry is a recognized thought leader in the area of anti-money-laundering and has participated in numerous speaking engagements.