Phillip Awoyinfa
Brooklyn,NY
Summary
Accomplished Compliance analyst in the Financial Compliance space, with a strong track record in developing compliance policies, procedures, enhanced risk assessment, and customer due diligence. Proven expertise in AML, KYC, Fraud, Cryptocurrency and Team leadership including conducting enhanced due diligence, developing process improvement plans, and collaborating with internal partners/Auditors. Demonstrated success in the financial space as a Senior Compliance Analyst, leading compliance risk assessments, overseeing policies, and providing expert guidance to business units. A proactive professional with a comprehensive understanding of GRC functions and a commitment to regulatory compliance.
Overview
8
8
years of professional experience
Work History
AML Compliance Analyst
Sumitomo Mitsui Banking Corporation
04.2022 - 03.2024
- Filed Suspicious Activity Reports (SARs) in strict accordance with FINCEN regulations and time limitations, contributing to effective risk management
- Conducted in-depth second-tier analysis of investigations pertaining to money laundering, terrorist financing, and other financial crimes, fostering enhanced compliance insights
- Conducted rigorous risk rating reviews for customers and adeptly recommended KYC overrides for eligible customers, enhancing risk assessment accuracy
- Implemented robust AML procedures specific to stock borrowing activities, including thorough due diligence on counterparties and monitoring of transactional patterns for any suspicious activities
- Effectively communicated and educated clients whose profiles and activities deviated from Bank Secrecy Act requirements, facilitating compliance alignment
- Developed and maintained comprehensive documentation outlining lending and borrowing policies and procedures in accordance with AML guidelines
- Demonstrated proficiency in navigating and ensuring compliance with a wide array of consumer protection laws and regulations, including but not limited to the Fair Credit Reporting Act (FCRA), the Consumer Financial Protection Act (CFPA), and the Consumer Product Safety Act (CPSA)
- Reviewed referrals from Internal Compliance Risk Management concerning AML/BSA related concerns, providing informed recommendations and executing necessary account closures
- Collaborated seamlessly with internal partners to implement strategic client solutions, demonstrating strong negotiation and contract renewal skills, and preserving favorable terms for the company
- Evaluated existing consumer protection policies and regulations, identifying areas for improvement and implementing necessary changes to ensure alignment with evolving legal requirements and industry standards
- Demonstrated exceptional problem-solving and negotiation abilities in successfully re-contracting existing clients, ensuring ongoing satisfaction and sustained growth
- Applied proactive and solution-oriented approaches to resolve complex customer escalations in collaboration with internal teams, sustaining positive client relationships through effective communication
- Made sure profile review is completed timely and within quality expectations, including review conclusions that are clear, complete, and supported by the information in the file
- Conducted thorough risk assessments to identify potential areas of legal exposure related to consumer protection issues, developing proactive strategies and safeguards to mitigate risks and protect company interests
- Conducted quality reviews of enhanced due diligence alerts on New to Bank and Existing Customer High Risk Business and Consumer Banking customers submitted by kyc Analysts/Specialists to ensure quality and appropriate risk assessment
- Conduct alert investigation using global standard policies, procedures, and tools, aimed at meeting internal and external regulatory requirements, building, and applying knowledge of sanctions and anti-money laundering processes
- Disposition of high-risk name screening escalations, conduct name searches, resolve matches identified during on boarding and maintenance processes
- Analyzing alerts and investigating customers who match with SDN, Politically Exposed Persons and Negative news
- Conducting searches, gathering data, and recording evidence from internal systems, the internet, commercial databases and enquiry with business or compliance contacts within the organization.
- Identified, reported suspicious activity and/or mitigate risks in a timely manner, as further defined in the SAR Team procedures.
- Prepared SARs with pertinent details and clarity as per the current SAR Team procedures.
- Performed reconciliation of cases and generating 90-day follow up cases.
- Assist with projects surrounding anti-money laundering (AML) initiatives
Snr Financial Intelligence Unit Analyst
CITI BANK
10.2019 - 04.2022
- Successfully led a team of Investigators at the Financial Crimes Intelligence Unit, introducing streamlined case review procedures that significantly enhanced departmental efficiency
- Conducted Enhanced due diligence on business, persons, Trusts and corporations to determine business risk tolerance
- Conducted comprehensive quality assessments and revisions of cases reviewed by analysts to ensure accurate SAR documentation and reporting, maintaining compliance with regulatory standards
- Reviewed and negotiated contracts, agreements, and terms of service to ensure compliance with relevant consumer protection laws, advising on necessary revisions to protect consumer rights and mitigate legal risks
- Leveraged the FCRM framework to assess and evaluate instances of Fraud, Money laundering, and Terrorist financing activities
- Acted as a point of contact for regulatory inquiries and audits related to stock borrowing, demonstrating thorough knowledge of AML requirements and facilitating transparent communication with regulatory authorities
- Developed a robust Process Improvement Plan for Risk Assessment and Customer Due Diligence using FCRM guidelines, contributing to enhanced compliance practices
- Reviewed and analyzed transactions associated with correspondent banking relationships involving clients and foreign financial institutions to identify and address potential AML concerns
- Verified and meticulously reviewed Investment Advisor profiles using the Investment Adviser Public Disclosure (IAPD) system, consistently adhering to FINCEN beneficial ownership rules
- Conducted periodic KYC reviews of customer profiles within the retail banking sector, ensuring steadfast compliance with evolving regulatory mandates
- Devised and implemented senior management escalation procedures for priority violations of the bank's AML guidelines, strengthening the bank's risk mitigation strategies
- Provided comprehensive training and mentorship to new hires, serving as a recognized subject matter expert on AML matters and driving process validation and improvement initiatives
- Expertly utilized Actimize and Eclipse platforms to perform thorough transaction monitoring and meticulously review account activities for potential AML concerns
- Actively participated in departmental efforts to map procedures and workflows, resulting in streamlined operations and heightened operational efficiency
- Conducted initial triaging of cases to route them to the appropriate teams for thorough investigation and resolution, expediting response times
- Collaborated in departmental audits and systems compliance activities, ensuring alignment with SOX and Information Systems Auditing requirements
- Conducted thorough due diligence on potential borrowers and lenders to assess their risk profiles and detect any suspicious activities or connections.
- Prepared SARs with pertinent details and clarity as per the current SAR Team procedures.
- Assisted in the on-boarding and training of new associates
- Conducted workplace compliance training to reduce liability risks and operate effectively.
Senior Compliance Analyst
CAPITAL ONE FINANCIAL
08.2018 - 10.2019
- Developed and implemented a robust compliance risk management framework tailored to the card industry, aligning with regulatory standards and industry best practices
- Monitored and assessed evolving regulatory requirements affecting card products and services, translating these mandates into actionable compliance strategies
- Led compliance risk assessments and conducted gap analyses, identifying potential vulnerabilities, and offering recommendations for risk mitigation and process enhancement
- Collaborated closely with product development teams to ensure seamless compliance with relevant regulations and internal policies for new card offerings
- Conducted regular compliance audits and thorough reviews of card-related processes, documentation, and activities to ensure strict adherence to established compliance controls
- Designed and executed comprehensive compliance training programs for employees involved in various card-related functions, fostering a culture of compliance awareness
- Engaged with external regulatory bodies and industry associations to stay current with emerging compliance trends, actively participating in industry discussions
- Oversaw the development and maintenance of compliance policies, procedures, and documentation tailored specifically to card products
- Implemented robust Know Your Customer (KYC) procedures to verify the identity of borrowers and lenders, ensuring compliance with Anti-Money Laundering (AML) regulations
- Drove the implementation of corrective actions and devised remediation plans in response to compliance issues, audit findings, or regulatory changes
- Provided expert guidance and unwavering support to business units and senior management on compliance matters, cultivating a strong culture of compliance awareness throughout the organization
- Prepared and delivered regular compliance reports to senior management, effectively highlighting key risk indicators, trends, and recommended actions
- Coordinated and supported regulatory examinations and audits associated with card products, ensuring timely and accurate responses to inquiries
- Collaborated seamlessly with legal, risk management, and technology teams to proactively identify and address potential compliance challenges stemming from card processing and transactions
- Monitored and evaluated customer complaints and inquiries linked to card products, facilitating timely and effective resolutions
- Remained up to date with industry best practices, regulatory updates, and market trends, continually enhancing the compliance risk management program
- Analyzed high risk wire transaction activity and provided investigative case analyses utilized for SAR preparation and filing.
AML Compliance Analyst 2
ADET CONSULTING
01.2016 - 05.2018
- Investigate alert on individuals and business entities using databases such as Lexis Nexis, Accurint, Interact and Google
- Received and processed negative news notices on PEP clients to determine applicability and materiality
- Utilize The U.S
- Patriot Act, Bank Secrecy Act, AML, OFAC, SEC and other AML regulatory policies
- Secure notary signatures on affidavits after validating accuracy, complying with applicable laws and regulations, and resolving any data or contest discrepancies
- Identify and communicate gaps in current policies, procedures, and processes with internal and external team members
- Monitored on company systems to detect risk of money laundering among customers
- Controlled of AML risk through monitoring and transactional analysis of high-risk level customers
- Prepared reports of suspicious activities (SAR) of customers
- Provided direction and guidance to internal customers on actions to report and monitor high risk accounts
- Controls testing and risks identification
- Prepared and reported of recommendation to management to mitigate associated risks
- Prepared administrative forms to comply with audit’s information records requirements of TEC
- Researched and prepared reports for the Ambassador on Financial compliance and National Commitment
- Conducted comparative research of National Laws and International Standards on money laundering and other financial crimes
- Participated in the annual financial compliance research for the IMF member states in Africa under the auspices of the United Nations Second Committee for Economic and Financial Affairs
- Enhanced overall efficiency of the Compliance department by automating manual processes where possible, leading to increased accuracy and reduced turnaround times.
- Participated in industry conferences and networking events, staying up-to-date on emerging trends within the AML compliance field.
- Effectively investigated alerts and filed suspicious activity reports (SARS) in compliance with established regulatory guidelines and timeframes.
Education
Bachelors - International Law
Babcock University
Bachelors - Information Technology
Bachelor of Science - Information Technology
Arizona State University
Tempe, AZ01.2026
Skills
- Ms Office
- Quality Assurance
- Process improvement
- SAR
- Anti-money laundering
- Compliance
- KYC procedure
- EDD/CDD
- Nexis Lexis
- Consumer protection law and regulations
- Sanctions
- Financial Crime Prevention
- Suspicious Activity Reporting
Timeline
AML Compliance Analyst
Sumitomo Mitsui Banking Corporation
04.2022 - 03.2024
Snr Financial Intelligence Unit Analyst
CITI BANK
10.2019 - 04.2022
Senior Compliance Analyst
CAPITAL ONE FINANCIAL
08.2018 - 10.2019
AML Compliance Analyst 2
ADET CONSULTING
01.2016 - 05.2018
Bachelors - International Law
Babcock University
Bachelors - Information Technology
Bachelor of Science - Information Technology
Arizona State University
Similar Profiles
MANABU SAKUDAMANABU SAKUDA
Regional Sales Manager at Transaction Banking Solutions Department, Sumitomo Mitsui Banking Corporation Singapore BranchRegional Sales Manager at Transaction Banking Solutions Department, Sumitomo Mitsui Banking Corporation Singapore Branch
IVETTE ORTIZIVETTE ORTIZ
Director – Expense Manager at Sumitomo Mitsui Banking Corporation, Americas DivisionDirector – Expense Manager at Sumitomo Mitsui Banking Corporation, Americas Division
ABDUL-HAKIYM AKBARABDUL-HAKIYM AKBAR
Analyst at Sumitomo Mitsui Banking CorporationAnalyst at Sumitomo Mitsui Banking Corporation
Cara ShieldsCara Shields
Senior Analyst - Administration at Sumitomo Mitsui Banking CorporationSenior Analyst - Administration at Sumitomo Mitsui Banking Corporation
Anthonio CompasAnthonio Compas
Sales Associate at Rite AidSales Associate at Rite Aid