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Manager Officer

Location:
Mississauga, ON, Canada
Posted:
September 09, 2020

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Resume:

OLALEKAN ISREAL OLATUNJI, BSc, CAMS, FCA

Tel: +1-416-***-**** E-mail: adfyl0@r.postjobfree.com

Profile

Highly experienced Fraud and Forensic Accountant/ Auditor who brings to bear the various fraud prevention and deterring strategies to solve complex fraud risk related issues of concern

Experienced in AML/ATF Compliance, KYC/CDD reviews, AML risk rating, AML audit, Name/ sanctions screening and AML remediation Projects

Experienced in forensic audit, internal audit, fraud deterrence and control and banking operations;

Experienced in Data Analysis, Report generation, Investigations, Research Proficiency and a team Player.

Excellent critical thinking, analytical skills with ability to identify creative and effective solutions to complex corporate challenges across various projects simultaneously

Possesses a Bachelor’s Degree in Accounting, a Chartered Accountant and a Certified Anti Money Laundering Specialist

Fluent in English with excellent organizational verbal communication and report writing skills, proficient in Microsoft Word, Excel (V and H Lookup, Concatenate, Pivot Table), SharePoint, PowerPoint, World check, FACTIVA, OSINT (open search Intelligence), SAS anti-fraud module, FircoSoft and Content Manager

A quarterly trainer / facilitator on (1.) Fraud, Policy and Procedures and (2.) AML /ATF Awareness Workshops

Successfully managed AML Case Management tools like Verafin, Norkom, Fenergo and SAS

Experienced in first line of defense (front line officer, customer on-boarding officer)

Experienced in second line of defense (AML and Forensic Investigator, Risk analyst, Internal Control)

Experienced in Third line of defense (Internal Audit, AML effectiveness/assurance reviewer

Experienced in COSO framework implementation

Experienced in ICAAP (Internal Capital Adequacy Assessment Process) Reviews

Experienced in Business Process improvement and Change management

Experienced in the use of Bizagi and MS Visio

Successfully managed the AML regime in a Credit Union Environment

Knowledegaeabl in BSA Act, The USA PATRIOT Act OFAC, SEC, FinCEN requirements and SAR requirements

Professional Experience

Rapport Credit Union, Toronto, Canada

Chief Anti-Money Laundering Officer (CAMLO) and Deputy Risk Officer November 2019 to date

Successfully managed the AML regime in a Credit Union environment

Oversee the AML program including KYC risk rating controls and transaction monitoring

Ensure accurate and timely delivery of independent compliance reporting of findings and recommendations to Senior Management, the Board of Directors and relevant regulatory body like FINTRAC

Develop and provide mandatory AML/ATF compliance training and awareness for the board of directors, management and other staff members

Act as the subject matter expert and provide guidance on all compliance matters, customer’s onboarding, EDD/CDD, new product enrolment and other issues relating to fraud, forensics, internal audit and control corporate governance and other operational banking issues pertaining to risk

Acting as the lead officer in respect of AML effectiveness audit (AML Monitoring and Testing) conducted by AML Shop

Preparing and acting as the lead staff in respect of FINTRAC audit

Ensuring that the policies and procedures of the union is up to date with FINTRAC guidelines,

Ensuring that AML training and awareness program for all staff member in the organization is conducted yearly and this is well documented

Ensuring that both system generated alerts and manually generated alerts are well decisioned in accordance to the FINTRAC guidelines and suspicious transactions are reported accordingly

Ensuring that the customer identification program is regularly reviewed to accommodate recent changes by FINTRAC

Ensuring the periodic reviews of OFAC sanctions list

Ensuring periodic risk assessment is conducted on customers/members alike noting the nature of business, geographical location and type of customers like local and foreign PEPs

Supervising eight AML and Risk Staff

Managing the Debit card administration (issuance, delivery, PIN administration)

Investigation of fraudulent practices and development of detailed audit reports

Enlightenment of staff members on robbery procedures

Providing fraud insights on member’s onboarding process

Robert Half/Protiviti (TD Bank) Contract

AML Manager (Investigator / KYC Analyst High Risk Client) July 2018 to October 2019

Performing End to end AML Investigation and reviews, and disposition of cases generated by the Automated Monitoring System as well as other external and internal referral systems

Preparing and submitting Suspicious Transaction Reports (STRs) on the FINTRAC (F2R) Portal and recommending risk mitigation actions for identified money laundering and terrorist financing risks.

Conducting case/alerts adjudications with the view of closing as non-suspicious (NFA or DNR) or recommending filing suspicious transaction report (STR)

Analyzing both Corporate and individual clients using risk factors such as country rating, product rating, client rating, ownership, PEP identification and adverse media information to determine the current risk rating of the client

Periodic review of processes and procedures in line with FINTRAC guidelines as it relates to adjudication of alerts as NFA (No further action) or STR (Suspicious Transaction Reporting)

Reviewing Swift codes and EFT (Electronic Funds Transfers) messages in relation to funds within banks in Canada, specifically noting sources of funds, relationship between remitters of funds and the client as well as the possibility of the availability of negative media reports on the remitters of funds

Reviewing details of interac platform for incoming and outgoing wires (SWIFT Messages)to and from other countries of the world, noting whether or not the sources of funds is from sanctioned or high risk jurisdiction

Acting as a subject matter expert (SME)on all AML matters

Reviewing and performing quality control on case analysis notes as well as supporting documents prepared by other AML Analyst and ensuring recommended decisions are rational and appropriate

Reviewing and performing quality Control review on the prioritization and validation of alerts/cases based on the sensitivity, associated risk and aging of cases/alerts. Cases of high priorities includes UARs alerts, TM alerts, FIU and Fraud referrals, Correspondent Banking and SWIFT alerts, Legal orders, Investigations exchange from group affiliates

Coaching and training newly employed AML Investigators

Working closely with other business units and corporate stakeholder groups to implement appropriate due diligence and customer remediation steps to minimize regulatory and reputational risk

Keeping abreast of new and emerging trends, typologies, and changes to legislation and guidelines.

Promontory Financial Group (Bank of Nova Scotia)-Contract

Sanctions and Name Screening Review Project December 2017 to May 2018

Ensuring that alerts with perfect matches hits/alerts are handled in accordance with defined procedures and meet standards for both quality and deadlines

Complete analysis of name screening and unusual transactional information to identify risks, trends, and potential suspicious activity related to money laundering, terrorist financing, sanctions, politically exposed persons (PEP) and other criminal activities

Escalating True matches to Scotia Bank in accordance with guidance from the Team lead

Monitoring of suspicious transactions based on the vendors AML risk profiling

Disposing 100 alerts on FircoSoft and Content Manager daily by utilizing both primary and secondary disposing codes as the case may be; such as Gender, Name and Age Variances, ITL (Implausible Time line) and other secondary factors like Mismatched Country of Residence, Mismatched employment etc.

Part of the process change analyst that gathered business requirements for the merger of old system (Content Manager and FircoSoft application) and gathered requirements for the new solution (Oracle). The new system integrated the contents of both Content Manager and FircoSoft application

HSBC Bank

Manager, AML Investigations / Quality Control Reviewer (Contract) November 2016 – June 2017

Investigation of cases spooled from Level 2 officers to ensure that proper and extensive investigation has been done on the subject matter and making timely recommendations as to DNR- do not report or STR (filing a suspicious transactions report with FINTRAC) or de-marketing of the client is the activities of such a customer has a far reaching negative consequences on the image and bottom-line of the bank.

Experienced in the implementation of the Chinese money Circumvention Policy for the purpose of investigating suspicious transactions

Reviewed customer documentation including KYC information to cross-reference with account activity to ensure accurate risk levels have been assigned to the specific accounts held in the customer's name.

Strong analytical skills in reviewing customer’s transaction dynamics as it relates to AML processes of Placement, Layering and Integration of fraudulent/crime proceeds

Investigation AML trends in Money Market products like Termed deposits, Mutual Funds’ Investments and Treasury bills in other to ascertain the sources and ultimate utilization of funds, the conductor of the underlying transactions, the complexity and the financial institution where the funds were negotiated

Performs quality control review and validation of the investigations report submitted by Level 3 investigator

Prioritizing validation of alerts/cases based on the sensitivity, risk associated and aging of the investigative report and alerts. Cases of high priorities includes UARs alerts, TM alerts, FIU and Fraud referrals, Correspondent Banking and SWIFT alerts, Legal orders, Investigations exchange from group affiliates

Identify financial, safety or security risks that Rapport Credit Union might face

Prepare action plans to decrease risk factors identified in all the functional departments of the organisation

Gather confidential financial information from client such as income, assets and debts

Manage company insurance policies

Perform risk evaluation for newly introduced products in the organisation

Make risk-avoiding adjustments to current methods of operation in order to minimize their future risks

Create a conscious approach to residual risk, inherent risk and total risk that Rapport carries

Provide training and certification for Rapport staff so that they can be aware of risks and try to avoid them

Zenith Bank Plc (www.zenithbank.com)

Deputy Manager,Fraud/Loss Prevention / Internal Audit Officer March 2010 to June 2016

Risk Based Assesment: Performing Risk Based Assessment and Mapping for all auditable Units of Funds Transfer, Cash and Teller and Customer Service Units of the bank

Whistle Blowing Management: Successfully managed the Bank’s whistle blowing portal. Investigate the cases so blown open, follow up to ensure resolution of reported cases and also ensuring that the whistle blowing non-retaliatory policy is implemented to encourage whistle blowing in the bank

Process Review: Review of existing bank business processes, vis-a vis cash handling procedure, clearing process, account opening process, Know your customer (KYC) policies etc. in order to align with the current trends of fraud and forgeries in the bank

Collaboration: Collaborate with system developers and model risk managers to test and implement new fraud rules for the SAS Anti-fraud module

Work closely with Process owners in the functional departments in order to conceive, research, and test new fraud detection rules

Preparing reports on fraud loss metrics due to inherent risk and residual risk that had crystalized;

Collaborate with internal stakeholders to assess fraud risks and identify mitigating strategies, balancing the projected impact on member services and internal resources against the expected returns of improved fraud mitigating strategies

Performed risk assessments, materiality assessments and fraud risk assessments to ensure that it is conformity with the COSO framework standard

Ensuring proper fraud risk management that is in tandem with the risk appetite of the bank

Conducting fraud Investigation and generating reports thereon

Formulating policies and internal procedures that helps reduce incidences of Corruption in the organization, thereby strengthening the Anti Bribery and Corruption policy of the bank and these policies extends to issues such as Conflict of interest, Bribery, Illegal gratuity and Economic Extortion

Experienced in the ICAAP’s independent review, testing for Senior Management Oversight, Sound Capital Assessment, Assessment of Risk, Stress Testing, monitoring and reporting and Internal Control Review

A quarterly trainer of Fraud Prevention and detection strategies for the bank

Zenith Bank Plc (www.zenithbank.com)

Deputy Manager, AML (Investigations/High Risk Client) February 2007 - March 2010

End to end AML Investigation leading to filing of suspicious transactions with FIU of EFCC

Co-ordinated the AML/KYC remedial project aimed at updating a selected 2000 customer’s record across the bank within 6 weeks

Conducting EDD (Enhanced Due diligence) reviews on both individual and corporate high risk clients that forms an input towards their AML ratings

Conducting AML reviews for clients in high risk jurisdictions

Conducting due diligence when on-boarding new accounts through the NIBSS Portal (Banker’s almanac)

Supported and contributed to review of high risk clients e.g. PEPs, working with team members to ensure timely, efficient review of suspicious transactions, documenting and follow up of outstanding items

Prepared Suspicious/Unusual forms, identifying clients/transactions apparently related to money laundering/terrorist financing and escalating such for further investigation by law enforcement and/or reporting to appropriate government agencies, regulatory bodies

Assisted a large commercial banking system in adhering to stringent Anti-Money Laundering regulations and compliance Standards

Generation of KYC enquiries and/or alerts to marketing officers on all such transactions identified as suspicious. Analysis of Marketing officer’s responses viz a viz activities on such accounts, customer’s profiles, source of funds, transactions dynamics and documentation status.

Observing the independent AML Testing

Monitoring the effectiveness of the AML SAS Antifraud module for transaction monitoring

Part of the script writing for the SAS Anti-fraud module

First City Monument Bank Plc (www.fcmb.com)

Internal Audit/ Branch Operational Manager January 2006 – February 2007

Reviewed branch banking operations, provided senior management with proper operational analysis to aid management decision making on customer service excellence, cost control, asset management, income recovery, and effective operations procedures

Proving Risk assessment for all the functional departments in the bank

Monitoring and reviewing Branch’s General Ledger accounts (Expenses accounts, Risk Asset accounts, Clearing and cash account, Suspense accounts,) for any open items for resolution with process owners;

Ensured compliance with AML Act and KYC requirements/legislation at branch level and recorded Zero % sanctions ratings following regulatory inspections

Standard Trust Bank Plc / United Bank For Africa (www.ubagroup.com)

Investigation and Forensic Officer November 2001 to January 2006

Investigation of cases of frauds, forgeries, cash shortages, overages and other forms of non-Compliance with bank’s policies and procedures

Conduct investigation into and render reports on cases bordering on environmental audits; discrete alerts and issues audit report for Disciplinary committee’s attention

Investigation & resolution of customers disputes on bank charges & other complaints with a view to avert litigation where the bank is likely to be culpable

Reviewing reports of suspected fraud to determine need for further investigations

EDUCATION

ACAMS Certification

Associate Member, Association of Certified Anti-Money Laundering Specialists 2018

Seneca College, Canada

Postgraduate Certificate: Fraud Examination and Forensic Accounting 2018

Chartered Accountant – CA (ICAN)

Institute of Chartered Accountant of Nigeria - Oct 2005

Associate Chartered Accountant – CA (membership Number: 018637) 2005

Bachelor of Science, Accounting

Ogun State University, Ago Iwoye, Ogun State, Nigeria

Bachelor’s Degree – Accounting with Second Class Upper Hons 2000



Contact this candidate