Olatunde Olayokun
Lunenburg,MA
Summary
Experienced with AML laws and regulations such as the US Patriot, OFAC, BSA, CDD, KYC. Advanced in the preparation of Suspicious Activity Reports (SARs) and Continuous Activity Reports (CAR). Expert at CDD, EDD and OFAC/Watch List/PEP
Overview
11
11
years of professional experience
Work History
Monitoring, Sr. Analyst, Manager
Genpact
11.2021 - 09.2022
- Responsible for conducting end-to-end transaction monitoring investigations for different entities, all levels
- Conduct investigative review and analysis in support of company’s BSA/AML regulatory compliance policies and program including investigating automated alerts from our transaction monitoring systems, and referrals sourced from law enforcement requests and other company lines of business
- Document investigations in written narratives Decide whether activity warrants escalation for additional review and subsequently recommend whether activity appears suspicious and warrants filing of a suspicious activity report
- Incorporate feedback from quality assurance team, assist with SAR preparation and filing 314(b), and Suspicious Activity Reports (SAR
- Researched, analyzed, and investigated customer activity for potential AML-related suspicious activity
- Investigated cases involving, but not limited to cash structuring, transactions involving Bank designated High-Risk Countries (HRC), wire transfers, commercial loan payments, and reports from branches regarding their customer's activity
- Prepared and thoroughly document factual and impartial findings in an accurate and timely manner
- Obtained recommendations for SAR (Suspicious Activity Reporting) to FinCEN or non-SAR
- Recommended appropriate follow-up and possible account closure for customers that exceed the Bank's risk tolerance
- Wrote clear and concise Suspicious Activity Reports on behalf of the Bank in compliance with established regulatory guidelines and time frames
- Investigates any SARC Suspicious activities by reviewing reports to determine if a filing is appropriate using the 5 Ws and H.
AML/ SAR writing Analyst
Capco
09.2020 - 10.2021
- Report unusual and suspicious activity through submission of SAR reports including contact details, alias identities, investment activity, bank accounts and other assets can lead to the instigation of new investigations or enhance on-going operations
- Monitor and act upon compliance-related escalations and referrals
- Investigate and document incidents of potential money laundering, fraud, terrorist financing, and other illicit activities across the Bank
- Ability of writing up to 5-7 SARs in a week
- Partner with Relationship Management and Compliance teams to assist with the preparation, development, due diligence, and approval of the electronic Know Your Client (“KYC”) record and supporting appendices
- Create and maintain KYC records by obtaining information from internal and external sources (firm website, regulatory websites, etc.)
- Inspected cash reserves and bank-owned securities to check internal control procedures
- Prepare regulatory reports, request for information (RFI), patriot Act 314(b) request and Suspicious Activities Reports (SARs)
- Identifying excessive risk, fraud and review of misrepresentations in transactions
- Conduct quality check reviews and filed Suspicious Activity Reports originating from various investigations unit including correspondence banking sanctions, fraud and compliance to FinCen
- Utilize cloud base software to create and implement the KYC, lexis nexus, norkom and world check regulatory database corporation(RDC)
- Provide risk control and technical solution to ensure audit trails, due diligence documentation, decisions and corrective actions are met with bank standards, procedures and regulations
- Identifying significant cases and notify management
- Ensure that decisions not to file SAR are properly documented and that SAR for account that have been identified to have carried out possible structuring are properly documented
- Analyzed functional requirements, procedures and problems to automate improved processing are effective and efficient
- Review system alerts, assessing impact to AML processes, conducting research as required and document results in accordance with the appropriate regulations with time limitations
- Ability of writing up to 5-7 SARs in a week
- Write and review Suspicious Activity Reports to be transmitted to FinCEN and applicable agencies
AML Quality Control Analyst
Chase Bank
02.2017 - 09.2020
- Analyze and perform reviews of in process and previously completed BSA/AML work tasks to test for accuracy and quality
- Assist in the development of the Quality Control framework and updating of all phases of processes and procedures used to conduct and develop a quality control program
- Prepare monitoring reports for management based on findings during quality control reviews
- Partner with associates and managers within Financial Investigations to conduct quality control and assurance reviews and provide effective feedback on quality control metrics
- Identify patterns, trends and anomalies within assigned review work with particular emphasis on trends or anomalies that present high inherent and residual AML risk to the company
- Facilitate the presentation of findings to various levels of associates and management
- Make recommendations to AML management based on observed activity during quality assurance reviews
- Reviews conducted will focus on all levels of case investigations, EDD reviews and more complex tasks completed by all associates within the FID
- Sr AML Quality Control Analysts (working title) may be responsible for writing, updating and enhancing departmental procedures and approve updates written and conducted by other Quality Control Analysts
- Sr AML Quality Control Analysts (working title) can be asked to oversee and review the work of day[1]to-day work activities of QC analysts
- Sr AML Quality Control Analysts (working title) can be asked to conduct training for new and existing staff, providing feedback on work conducted by colleagues and assign/track work assignments for other analysts
- Sr AML Quality Control Analysts (working title) May work with internal audit and regulatory examiners to discuss
- Demonstrates compliance with all bank regulations for assigned job function and applies to designated job responsibilities - knowledge may be gained through coursework and on-the-job training
- Keeps up to date on regulation changes
- Follows all Bank policies and procedures, compliance regulations, and completes all required annual or job- specific training
- Maintain a working knowledge of Bank's written policies and procedures regarding Bank Secrecy Act, Regulation
- CC, Regulation E, Bank Security and other regulations as applicable to this job description
- May be asked to coach, mentor, or train others and teach coursework as subject matter expert
- Actively learns, demonstrates, and fosters the Umpqua corporate culture in all actions and words
- Takes personal initiative and is a positive example for others to emulate
- Embraces our vision to become "The World's Greatest Bank."
- May perform other duties as assigned
AML/ Compliance Analyst/ Investigator
DCU Bank
01.2016 - 07.2017
- Review and detect suspicious activities based on a variety of AML Systems generated transactional alerts from transactional activity
- Determine if alerts can be closed or warrant further investigation and elevation to an active investigation in the case management system
- Used available research tools (public internet sources as well as third party sites) to identify information concerning transactions identified for further investigation
- Research past alerts and cases to see if previous investigations have taken place and what conclusions were made
- Improved and implemented customer risk rating criteria with KYC management and procedure for both consumer and corporate customer
- Performed the required KYC screenings on customers documenting the information obtained on the clients as required by global KYC procedures
- Verified all aspect of CIP/CDD before account opening
- Researched cash in/cash out for suspicious markers of possible money laundering, criminal activity or fraud
- Compiled and analyzed data of alerts; investigated SAR (suspicious activity reports) history, KYC information, account transactions and other items relevant to investigations
- Developed analytical summaries/abstracts of suspicious accounts with accurate, verifiable data and supporting documentation, along with reasonable cause to advance investigations
- Prepared and presented disposition recommendations based on available information
- Completed due diligence investigations using public and private data base in accordance to Anti Money Laundry (AML), BSA and other regulatory standards to assist business units and prevent operational and reputational risks
- Ensured compliance with all AML laws, regulations, guidelines, written procedures; OFAC, CIP, KYC, customer/transaction monitoring
- Effectively conducted AML /KYC formality reports on questionable accounts and transactions.
Customer Monitoring Analyst
PricewaterhouseCoopers (PwC) Advisory
10.2011 - 12.2015
- Perform EDD reviews of all assigned high-risk customers including large complex relationships and those associated with sensitive domestic clients or clients associated with high-risk industries, and use customer risk scoring models in accordance with AFC processes and procedures
- Document EDD review findings in the appropriate databases and templates to include all pertinent facts and information, such as the preparation of narrative reports summarizing actions, findings and recommendations for next steps
- Complete EDD reviews within timelines set by EDD governance documentation
- Complete EDD reviews to the quantity and quality standards and targets set by the Head of Enhanced Due
- Diligence-Customer Monitoring
- Suggest process enhancements and research tools to increase efficiency and/or accuracy
- Conduct customer name screening for PEP/Sanctions/adverse media and resolve/escalate any material information identified
- Conduct in-depth transactional activity reviews and recommend clear and concise referrals to the Financial
- Intelligence Unit (FIU) for any unusual activity identified for potential Suspicious Activity Report (SAR) filing
- Elevate questions and concerns to Enhanced Due Diligence-Customer Monitoring Team Leads or the Head of
- Enhanced Due Diligence-Customer Monitoring, as needed, to make determinations and close EDD reviews
- Maintain awareness of regulatory updates and incorporate process and procedural changes into the EDD review process as directed by the Head of Enhanced Due Diligence-Customer Monitoring
- Identify and escalate training or knowledge gaps related to the EDD process or wider BSA/AML topics.
Education
ANTI -
ACAMS
CERTIFIED ANTI-MONEY LAUNDERING SPECIALIST (CAMS) Network Professional - undefined
Training Center
NPTC - undefined
LAUNDERING - undefined
02.2021
Network Engineering - undefined
10.2019
Cisco Certified Network Associate Routing and Switching (CCNA) - undefined
The polytechnic Ibadan
03.2004
Skills
- MS Office, ExcelCosima, LexisNexis SpreadsheetsExcel Accuracy Customer Service google translate Cosima Process Improvement Data Analytics LexisNexis Spreadsheets Mitigation Financial services Quantitative analysis Banking
Timeline
Monitoring, Sr. Analyst, Manager
Genpact
11.2021 - 09.2022
AML/ SAR writing Analyst
Capco
09.2020 - 10.2021
AML Quality Control Analyst
Chase Bank
02.2017 - 09.2020
AML/ Compliance Analyst/ Investigator
DCU Bank
01.2016 - 07.2017
Customer Monitoring Analyst
PricewaterhouseCoopers (PwC) Advisory
10.2011 - 12.2015
ANTI -
ACAMS
CERTIFIED ANTI-MONEY LAUNDERING SPECIALIST (CAMS) Network Professional - undefined
Training Center
NPTC - undefined
LAUNDERING - undefined
Network Engineering - undefined
Cisco Certified Network Associate Routing and Switching (CCNA) - undefined
The polytechnic Ibadan
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