Melissa Cate
Jersey City,NJ
Summary
Detailed oriented Compliance Officer with extensive experience in Commercial Wholesale and Retail Banking. Demonstrating fantastic problem solving skills with extensive experience working with various regulatory agencies.
Overview
17
17
years of professional experience
1
1
Certification
Work History
DEPUTY COMPLIANCE OFFICER
WOORI BANK NEW YORK AGENCY
07.2019 - Current
- Act as the backup to the Chief Compliance Officer
- Oversee a team of eleven AML, OFAC, and KYC analysts
- Enhanced, updated, and maintained a suite of compliance policies, including BSA Risk Assessment and Regulatory Compliance Procedure, that were integral to the foundation of the Compliance Department; led the creation of a Compliance Testing Program to strengthen risk management protocols and ensure adherence to regulatory standards
- Point of contact for exams with the NYSDFS and NYFRB
- Directed the creation and implementation of strategic project plans post-examiner and audit evaluations; effectively resolved 100% of identified issues within specified time limits, guaranteeing compliance and risk management
- Supervised AML transaction monitoring utilizing FIS Prime Compliance Suite System, overseeing 200+ cases monthly; conducted thorough analysis on escalated cases, leading to a 30% decrease in false positives and enhanced detection of suspicious transactions
- Directed the end-to-end execution of the FinScan OFAC screening system project, leading to a 30% increase in screening accuracy and a 20% enhancement in compliance efficiency
- Conduct BSA, AML, OFAC, and NYDFS 504 Risk Assessments
- Engineered and executed a robust Quality Assurance initiative focusing on BSA/AML and OFAC activities, leading to a 30% reduction in compliance-related issues and a 15% enhancement in operational efficiency
- Reported and documented all rejected transactions to OFAC and BIS, ensuring compliance with federal regulations and minimizing potential financial risks associated with non-compliance
- Manage online and onsite training programs for the NY Agency
- Established a mentoring program for compliance staff, offering ongoing support and guidance on complex regulatory issues, contributing to a 40% improvement in adherence to industry standards and a 50% decrease in compliance-related errors annually
- Review all final KYC/EDD documentation for new account openings and periodic review of existing customers
- Review and/or Rewrite SARs prior to E-filing
- Developed and implemented a comprehensive Anti-Terrorist Financing and Anti-Human Trafficking Program, enhancing financial institution's compliance with regulatory requirements and reducing potential exposure to fines and penalties
- Optimize and manage FIS Prime Compliance Suite Transaction Monitoring Rules project
- Led end-to-end execution of Regulatory Compliance testing framework, spanning risk assessment, data analysis, and reporting processes
- Create monthly reports for Risk Management Committee and Head Office
- Conduct 314(a) searches.
VP of Transaction Monitoring and Investigations
BNP PARIBAS
08.2014 - 10.2018
- Developed and implemented new AML monitoring procedures, resulting in a 50% reduction in manual review time and a 20% increase in the identification of potential money laundering activities
- Oversaw three team leads managing 30 investigators, implementing innovative investigative techniques, and achieving a 25% reduction in case backlog while maintaining high-quality investigative standards
- Orchestrated the action plan for addressing examination and audit findings, resulting in a 40% decrease in non-compliance issues and a 25% improvement in audit rating score
- Reviewed and/or wrote SAR narratives
- Conducted risk assessment based on the business line and Actimize rules
- Led comprehensive training initiatives for transaction monitoring investigators, offering continuous mentorship and guidance; achieved a 50% decrease in processing errors and a 25% improvement in investigation accuracy
- Implemented Actimize as a new monitoring system for US and Canada
- Designed rules to cover specific risks identified during Risk Assessment
- Engineered de-minimis values to optimize Actimize rules, resulting in a 40% reduction in false positive alerts, enhancing operational efficiency and saving the company significant man-hours monthly
- Designed and rolled out a cutting-edge Anti-Terrorist Financing and Anti-Human Trafficking Program, ensuring adherence to regulatory standards and decreasing financial institution's exposure to fines by 50%
- Engineered streamlined Actimize Alert, Case, and FIU workflows
- Conducted testing and tuning prior to the implementation of new Actimize rules, as well as created segmentations based on risk
- Led the biennial review and optimization of Actimize rules, resulting in a 20% decrease in investigation time and a 15% improvement in overall system performance
- Conducted 504 Reviews and Updates for Transaction Monitoring Certification
- Drafted PIDs, BRDs, and RACIs for new projects
- Provided weekly status updates to senior management for ongoing projects
- 314(b) point of contact
- Conducted 314(a) searches
- Point of Contact for NYDFS and NYFRB
SR. COMPLIANCE OFFICER
CHINA CONSTRUCTION BANK
12.2010 - 08.2014
Manager of FIU
AMALGAMATED BANK
02.2007 - 12.2010
Education
Bachelor of Arts - Art History
New Jersey City University
Jersey City, NJ05.2025
High School Diploma -
RANDOLPH HIGH SCHOOL
Skills
- Actimize and FIS Prime Compliance Suite
- FinScan Sanction Screening
- SURETY KYC System
- Lexis Nexis
- World Check
- Factiva
- Microsoft Office Suite
- Google, Dun and Bradstreet, Dow Jones Lists and other investigative tools
- Creation of Policies and Procedures
- Quality Control
Certification
- Certified Anti Money Laundering Specialist (CAMS), 08/2008 - CURRENT
- Certified Financial Crime Specialist (CFCS), 11/2014 - CURRENT
Timeline
DEPUTY COMPLIANCE OFFICER
WOORI BANK NEW YORK AGENCY
07.2019 - Current
VP of Transaction Monitoring and Investigations
BNP PARIBAS
08.2014 - 10.2018
SR. COMPLIANCE OFFICER
CHINA CONSTRUCTION BANK
12.2010 - 08.2014
Manager of FIU
AMALGAMATED BANK
02.2007 - 12.2010
Bachelor of Arts - Art History
New Jersey City University
High School Diploma -
RANDOLPH HIGH SCHOOL
- Certified Anti Money Laundering Specialist (CAMS), 08/2008 - CURRENT
- Certified Financial Crime Specialist (CFCS), 11/2014 - CURRENT
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