Summary
Overview
Work History
Education
Skills
Certification
Timeline
Generic

Oyelakin Oyerinde

Chicago,IL

Summary

Dynamic AML Compliance Specialist with a strong background in reputable financial institutions. Expert in CDD, EDD, negative news, sanctions and SPF/PEP screening, Correspondent banking with deep knowledge about Bank Secrecy Act, FINCEN, OFAC, FATF and all other regulators which avails me to have proficiency in financial crime compliance fundamentals and best practices, red flag identification and risk based approach. I am resourceful person in policy and procedure drafting. I am Spirited, details-oriented, pay attention to details and innovative. I excel in upholding rigorous standards and mitigating risks.

Overview

20
20
years of professional experience
1
1
Certification

Work History

Ops Sr Analyst - AML Refresh

Bank of America
05.2024 - Current
  • Maintains accuracy of client portfolio using internal and external comparison tools
  • Performs research and conducts complex analyses using established techniques, including transactions that require special handling and exception handling
  • Explores methods to enhance processes, further reduce risks, and boost client experience
  • Partners with colleagues on the trade and sales support teams, as well as external agents
  • Creates reports and liaises with internal partners to ensure proper client reporting and assist with regulatory reporting
  • Escalates potential risks and exposures to manager in a timely manner
  • Assists with ad-hoc projects, new processes, or initiatives requiring coordination among subject matter experts representing multiple product areas or functions
  • Conducting client due diligence (CDD) and enhanced client due diligence (ECDD) in accordance with internal policies, procedures and regulatory guidelines.
  • Review of refresh requirements for assigned jurisdiction in line with related Client Identification Profile (CIP)/CDD Procedures to ensure adequacy and accuracy before the requirements are sent to the client.
  • Liaise with sales/ client outreach teams to obtain and validate correct documentation to fulfil refresh requirements
  • Perform client refresh through the review of client documentation, vendor databases and data entered into proprietary systems to ensure all refresh requirements are met.
  • Ensure all jurisdictional regulatory requirements related to KYC are adhered to.
  • Support business with KYC related queries and requests.
  • Participate in remediation, internal/external Audits (where applicable).

AML/BSA Compliance Specialist

Jagwan Insurance Agency
08.2022 - 04.2024
  • Ensures compliance by meeting the company's obligations and adhering to regulatory standards that makes the company to continually, 99.99% immune from sanction or penalty from regulatory bodies.
  • Onboard customers both individuals and entities /institutions.
  • Perform due diligence on OFAC Sanction Screening hits generated.
  • Investigate possible hits and escalate in line with the company’s processes and procedures.
  • In an On-going Due Diligence, especially when OFAC list is updated, I conduct OFAC screening of customer’s database, and do so for prospective and new to the company as well.
  • Participate in developing and implementing robust Anti Money Laundering (AML) programs to prevent money laundering, terrorist financing, and proliferation financing activities
  • Conduct comprehensive background checks on Ultimate Beneficiary Owners, employing investigative techniques to gather relevant information
  • Scrutinizes sanction lists, Politically Exposed Persons (PEP) lists, and adverse media data against customer names to identify potential risks
  • Counsel, trains and coaches employee from other group,( division and unit) on AML/BSA Compliance, as AML is everyone business, though domicile in Compliance group.
  • Collaborated with external contacts to obtain pertinent information, supporting comprehensive investigative processes.
  • Keep abreast of OFAC new update and disseminate new information to all the appropriate quarters in the company.
  • Prepared detailed Suspicious Activity Reports (SARs) to report potentially illicit activities, ensuring accurate and timely submission
  • Provided well-founded recommendations for relationship terminations or retentions based on investigative findings
  • Promptly escalated high-risk accounts with missing records to the relevant internal unit, facilitating swift resolution
  • Conducted thorough analyses of customer profiles and market needs, contributing to strategic decision-making processes

AML/KYC Analyst

Pioneer Bank
03.2022 - 07.2022
  • Drafted suspicious activity reports, addressed sanctions alerts, and executed other AML processes in strict adherence to regulatory expectations and departmental procedures which provide over 90% assurance of not allowing any form of financial crime go undetected in the company.
  • Provided daily support and oversight to the business on OFAC/sanctions issues, ensuring seamless operations and compliance
  • Conducted Enhanced Due Diligence (EDD) activities under the guidance of the AML officer, ensuring comprehensive assessment of risk factors
  • Implemented vigilant monitoring of assigned accounts, assessing transactions for potential suspicious activities such as money laundering, ensuring a proactive approach to risk mitigation
  • Investigated, reviewed, and escalated KYC/AML alerts for further investigation, employing thorough research methods to identify potential risks
  • Prepared meticulous Suspicious Activity Reports (SARs) documenting suspect transactions, ensuring clarity and adherence to reporting standards
  • Ensured compliance with Bank Secrecy Act Regulations, Anti-Money Laundering related regulations, Office of Foreign Assets Control Regulations, and USA PATRIOT Act Regulations. Reviewed system-generated alerts, assessed their impact on AML processes, conducted necessary research, and documented results comprehensively in written format

HR/Senior Compliance Manager

Wema Bank
10.2018 - 12.2021
  • Played a key role in client onboarding and conducting thorough due diligence and recommending adjustments to align services with client needs, enhancing overall satisfaction with the result of over 70% customer retention.
  • Maintained detailed client profiles, serving as a valuable reference during the relationship with the customer.
  • Developed a deep understanding of financial statements for precise risk assessment, facilitating well-informed decision-making processes
  • Ensured compliance with internal controls and government regulations, proactively addressing potential issues and maintaining high regulatory standards
  • Monitored media reports to evaluate negative news and potential reputational risks, implementing necessary precautions to safeguard the organization's integrity.
  • Assisted managers in providing regular status updates to senior management, enhancing transparency and enabling informed decision-making, thereby reducing risks

Senior Compliance Manager

First Bank
03.2015 - 09.2018
  • Ensured consistent application of KYC standards/policies in the front office, maintaining regulatory compliance and integrity in customer interactions.
  • Collaborated with KYC staff, front officers, and compliance officers to facilitate the onboarding of new customers, ensuring timely approvals and transparent communication of customer information updates.

KYC/Compliance Manager

Alphamead Facilities and Management Services Ltd
01.2011 - 02.2015

HR/KYC Manager

Barotech Nigeria Ltd
09.2005 - 12.2010

Education

Post Graduate Diploma (PGD) - Project Management

Federal University of Technology, Akure
01.2022

Bachelor of Engineering (BENG) - Mechanical Engineering

University of Ilorin
Ilorin, Kwara State
01.2004

Skills

  • Time Management, Result Driven Fraud Detection, SAR, Transaction Monitoring, Problem Solving, Etc
  • Problem Solving, Team Player, Case Management, Organization, Leadership Skills, Etc
  • Investigation, Multi-task, Attention to Details, Fraud Detection, SAR,, Financial Crime, Leadership, Etc

Certification

  • Certified Anti Money Laundering Specialist, (CAMS). 2024
  • Certified Scrum Master (CSM). 2022

Timeline

Ops Sr Analyst - AML Refresh

Bank of America
05.2024 - Current

AML/BSA Compliance Specialist

Jagwan Insurance Agency
08.2022 - 04.2024

AML/KYC Analyst

Pioneer Bank
03.2022 - 07.2022

HR/Senior Compliance Manager

Wema Bank
10.2018 - 12.2021

Senior Compliance Manager

First Bank
03.2015 - 09.2018

KYC/Compliance Manager

Alphamead Facilities and Management Services Ltd
01.2011 - 02.2015

HR/KYC Manager

Barotech Nigeria Ltd
09.2005 - 12.2010

Bachelor of Engineering (BENG) - Mechanical Engineering

University of Ilorin

Post Graduate Diploma (PGD) - Project Management

Federal University of Technology, Akure

Similar Profiles

CREATE PROFILE