Michael Nielsen
Glen Cove,NY
Summary
A solutions-focused KYC/Compliance professional with a highly adaptable skill set with over twenty (20) years of experience handling the daily KYC & Compliance functions pertaining to SEC, FINRA, OFAC, SROs and country local due diligence. Highly adept in identifying gaps in controls and exposure to potential operational risks of an organization, mitigating material financial loss. Understands market trends with an expertise in identifying fraudulent and illegal activity through client document analysis, keen on identification of terrorist groups and their financial activities. Has the ability to adapt quickly to new organizational environments including new policies, procedures, technology and software, allowing for speedy and effective integration.
Overview
20
20
years of professional experience
Work History
Vice President/KYC Manager
JP Morgan Chase
03.2018 - Current
- Perform KYC reviews on JP Morgan's client base handling some of the most difficult and complex client relationships for CIB, CB and Private Wealth
- Focused on the regulatory environment and how it impacts JPMC and its clients
- Report any regulatory impact to senior managers and offer solutions to enhance the client experience and mitigate any risk to client or JPMC
- Serving as a Subject Matter Expert and primary point of contact for any questions or issues relating to KYC/CIP
- Identify high risk clients using various calculation tools and client documentation
- Liaison with internal key stakeholders across various LOBs and/or clients for any client documentation needed for the KYC/CIP review
- Submit individual(s) and company(ies) names against OFAC, FinCEN and various Government watch lists to identify any names that might appear on a Government restricted/sanctions list
- Provide feedback on new technology advancements to the Customer Due Diligence framework on areas of improvement or enhancement
- Conduct training sessions for new and existing KYC Analysts focusing on issues, patterns, trends and opportunities for improvement
- CIB NA Markets Regional Change Representative
- Raise procedure/operational change requests that pertain to NA Markets, present change requests to the senior management of the Advisory Board
- Participate in work groups for relevant change requests, end to end follow through until implemented into procedures.
- Submit weekly progress reports to senior management outlining areas of completeness and update on status of open cases.
KYC Analyst - Consultant
JP Morgan Chase
02.2016 - 03.2018
- Analyze customer KYC/CIP documentation for completeness
- Communicate with senior management deficiencies with client account and estimated time to complete
- Coordinate with all internal departments and/or clients for delivery of updated documents
- Communicate suggestions to senior management and team members on ways to provide a better client experience through previous experiences
- Administer new employee training domestic and abroad
- Perform Quality Assurance/Quality Control reviews on customer accounts in preparation of final approval.
Financial Crimes Analyst - Consultant
Morgan Stanley Investment Management
07.2015 - 02.2016
- Monitor OFAC, FinCEN, Government Watch lists and internal review calendars for updated alerts, screen list against firm's client base, alerting Senior Management of illegal activities
- EDD (Enhanced Due Diligence) perform enhanced level of customer identification and collaborate with different business units ensuring firms reputational risk is adhered to
- Perform investigations of the Transaction Monitoring System for instances of frauds, scams and illegal activities
- Conduct new client on-boarding EDD review and ensure proper documentation has been received.
Financial Crimes Investigator - Consultant
K2 Intelligence
02.2015 - 06.2015
- Conducted trader surveillance; analyzed surveillance report activities that could've been illegal for future audits
- Collected, analyzed and performed AML investigations on customer information for fraud, money laundering, scams, illegal activity and involvement in organized crime or terrorism
- Recommended and implemented new procedures in the company's Surveillance System for better protection against AML
- Recommended SAR (Suspicious Activity Report) filing to Senior Management
- Conducted training for new employees.
Senior Compliance Analyst - Consultant
JP Morgan Chase
04.2014 - 02.2015
- Performed AML investigations to assure customers were not associated with any organized crime or known terrorist groups by cross referencing client(s) names and/or company(ies) against Government watchlists
- Performed sanctions, PEP and negative media screening on customers
- Identified, managed and resolved issues regarding potential Restricted List violations by analyzing information found through internal systems or public information using internet search engines
- Reviewed daily surveillance reports generated by the Surveillance System and determined which items required follow-up and brought them to resolution
- Interfaced with the Line of Business Compliance as well as various areas within compliance
- Participated in regular business discussions and meetings as necessary to identify new/changed business activities which required surveillance
- Determined how new rules or regulations affected supervisory oversight and/or surveillance activities
- Provided proactive education on compliance/surveillance activities and develop new filters for the Surveillance System
- Researched and resolved business data quality problems identified utilizing the Surveillance System output
- Performed steps necessary to implement the Surveillance System initially as well as for all subsequent system upgrades, including business issue resolution, user acceptance testing, parallel testing, etc
- Worked with business and Compliance Officers to resolve complex compliance issues
- Resolved and responded to inquiries that were elevated by the Compliance Services area
- Performed Enhanced Due Diligence assuring customers in high risk countries and businesses screened them against Government watch list.
Transaction Monitoring Analyst - Consultant
Citibank
04.2013 - 08.2013
- Monitored Citibank's trading platform for illegal activity (insider trading, front running, etc.) due to errors in trade clearing
- Conducted trader surveillance; analyzed surveillance report activities that could be illegal and documented results for future audits and draft SARs for senior management.
Associate Director
Portigon AG (formerly WestLB)
01.2009 - 11.2012
Consultant
BNP Paribas
06.2008 - 12.2008
- Received new customer information from hedge fund and mutual fund managers for input into BNP Paribas static data system
- Reviewed new customer documentation for completeness and verified Fund Managers credentials making sure global KYC and AML rules were followed and updated USA PATRIOT Act documents.
Compliance Officer
Vision Securities Inc.
06.2007 - 05.2008
Compliance Analyst & AML Officer
Labranche Financial Services LLC
09.2004 - 06.2007
- Recognized in discovering hidden money laundering within an employees' account, saving the company from a financial loss of over half a million dollars
- Lead several FINRA, SEC and NYS Attorney General Inquiries in NYSE trading
- Successfully obtained no audit findings in all assigned jobs
- Attained Series 9, 24, & 55 securities licenses.
Education
Automotive -
SUNY Farmingdale
01.1989
Skills
- USA PATRIOT Act - Section 312
- Trade Surveillance
- OFAC (Office of Foreign Asset Control)
- KYC (Know Your Customer)
- CIP (Customer Identification Program)
- AML (Anti-Money Laundering)
- Regulatory Compliance
- SEC (Security Exchange Commission) Filings and Audits
- PEP Sanctions (Politically Exposed People) and Negative Media Screening
- Control Room Operations and Analysis
- Client Screening
- Regulatory Inquiries
- Employee Trading and Training
Previouslyheldlicenses
- 7
- 9
- 24
- 55
- 63
Timeline
Vice President/KYC Manager
JP Morgan Chase
03.2018 - Current
KYC Analyst - Consultant
JP Morgan Chase
02.2016 - 03.2018
Financial Crimes Analyst - Consultant
Morgan Stanley Investment Management
07.2015 - 02.2016
Financial Crimes Investigator - Consultant
K2 Intelligence
02.2015 - 06.2015
Senior Compliance Analyst - Consultant
JP Morgan Chase
04.2014 - 02.2015
Transaction Monitoring Analyst - Consultant
Citibank
04.2013 - 08.2013
Associate Director
Portigon AG (formerly WestLB)
01.2009 - 11.2012
Consultant
BNP Paribas
06.2008 - 12.2008
Compliance Officer
Vision Securities Inc.
06.2007 - 05.2008
Compliance Analyst & AML Officer
Labranche Financial Services LLC
09.2004 - 06.2007
Automotive -
SUNY Farmingdale