Senior Vice President, Head of Sanctions, Legal and Compliance @ Bank of China
Account Representative @ Metropolitan Life
Operations Administrator @ US Trust Company
I am tested banking and government professional with experience in AML & OFAC compliance, internal control and payment operations, but I also possess both technical and management experience in the developing and coordinating robust compliance programs. I bring to the table extensive knowledge in domestic and international AML Compliance, Project Management, Consumer Products, and Payment System (Wire,
I am tested banking and government professional with experience in AML & OFAC compliance, internal control and payment operations, but I also possess both technical and management experience in the developing and coordinating robust compliance programs. I bring to the table extensive knowledge in domestic and international AML Compliance, Project Management, Consumer Products, and Payment System (Wire, ACH, and Securities) operations. My career has provided me with practical hands-on exposure in building and deploying significant sized applications.
The skill set developed over my career has enabled me to be adaptive in my career growth. I have always been successful in leveraging and applying skills developed in one career path towards the other. Change is usually a good educator. In my current role in Global AML supporting Economic Sanctions programs, I have spent a good portion of the time engaging with technology teams, business partners, transition teams and payments teams, such as wire, ACH, E-Commerce (Online banking), card operations, international card and payment operations that ensure the highest Economic Sanctions compliance standards are achieved.
In summary, I have the business acumen, the skill set and the desire to make any opportunity a successful opportunity for both the business and myself. I thank you for your assistance, comments and look forward to future conversations. Please share as you deem appropriate.
Chief Executive Officer @ • Delivers consulting and advisory services to the financial, legal, government, consulting and commercial industries in respect to Office of Foreign Assets (OFAC), Anti-Money Laundering, Counter-terrorism financing, Bank Secrecy Act, international sanctions regulatory programs.
• Provides subject matter expertize in the implementation of strong effective compliance programs, controls, and governance.
• Available for interim term management positions.
• Conducts compliance program evaluations, audits, complex investigations and look-backs.
• Available for long term Monitor Roles.
• Evaluates systemic interdiction and investigative tools for efficiency and effectiveness.
• Develops and implements Management information and Training programs.
• Audit remediation management.
• Manages large scale system implementations.
• Current engagements provided upon written request. From April 2015 to Present (9 months) Greater New York City AreaHSBC North America Holdings Company @ •Oversaw the implementation of U.S. implementation and compliance with the Global Sanctions Policy and program.
•Ensured all U.S. entities remained compliant with all applicable local sanctions laws, rules and regulations.
•Provided regional leadership for Sanctions team with F.C.C. to ensure consistent high quality compliance with Global Compliance.
•Approved dispensations for activity in conflict with U.S. regulations and Global policy.
•Liaison with Regulators, Auditors and Monitor.
•Served as subject matter expert for U.S. and Global Sanction matters.
•Implemented staffing changes to meet global program expectations. From January 2014 to April 2015 (1 year 4 months) Greater New York City AreaManaging Director and Head of US Sanctions (Interim) @ • Established a Global Sanctions Program and Office, which included a specialized Advisory and Complex Investigation function.
• Centralized Sanctions scanning processes concentrating transaction and relationship monitoring in centers of expertise.
• Formed a Multi-disciplined Global Sanctions Governance committee to ensure program transparency.
• Formed a CISADA Steering Committee to ensure the Business and Group Compliance successfully administer changes in the Iranian Sanction programs.
• Participated in an interdiction application mapping and testing process consisting of all applications for all lines of businesses.
• Prepared and deployed an Enterprise OFAC Risk assessment that encompassed various legal entities and business lines.
• Recruited top talent and created a World Class Sanctions team. From March 2011 to January 2014 (2 years 11 months) Senior Compliance Officer, @ Compliance, Outreach and Implementation
* Administers and enforces the nations economic sanctions based on U.S. Foreign Policy and national security goals.
* Develops and implement strategies and procedures to assist the public comply with U.S. sanction programs.
* Serves as a professional resource on a wide range of issues relating to U.S. economic sanctions and plays a multi-faceted role in sanctions.
* Monitoring and auditing operations and transactions of financial institutions, securities firms, corporations and other entities to ensure compliance with appropriate OFAC regulations.
* Identifies sensitive foreign policy or controversial issues arising from violations of regulations.
* Coordinates with officials in regulatory and other agencies to establish effective working relationships, exchange information, and provide technical advice on OFAC related regulations, and facilitates interagency clearances.
* Maintains liaison with representatives of the financial and corporate communities to the benefit of overall compliance.
* Prepares and delivers speeches and conducts seminars before small and large private sector, government, and foreign official audiences.
* Plays an integral role in the review and analysis of proposed changes to regulations, enforcement, and licensing policy.
* Determines if violations substantiate the need for enforcement or penalty referral and recommends appropriate action. From April 2009 to October 2012 (3 years 7 months) Senior Vice President @ Senior Vice President - Senior AML Manager
Enterprise Compliance Programs Operations - Global AML – Economic Sanctions – (January 2007 – Present)
Collaborates with Management in the establishment of Economic Sanctions Corporate Strategy and Policy.
Provided direction that establishes successful deployment or ongoing support of sustainable E.S program processes.
Process Owner for Enterprise Filtering Technology
Ensured successful transitions to the Bank of America E S program of merged entities. MBNA, US Trust and LaSalle organizations.
Represented BofA at various Government and Industry working groups on OFAC and other AML related topics.
Senior Vice President - Senior Compliance Manager
Global Anti-Money Laundering Operations & Compliance – (September 1999-December 2006)
Provided OFAC and BSA (USA Patriot Act) Regulatory guidance to business partners
Established a centralize process for the control of assets blocked in accordance with OFAC regulations. From August 1999 to February 2009 (9 years 7 months) Vice President - Group Operations Manager @ Managed concurrently the following Money Transfer & Foreign Currencies Services units:
Foreign Currencies– Foreign Currencies (Bank Note) Cash Vault – Staff of 15
Money Transfer Administration – Process personnel related matters for staff of 120, expense processing, event coordination, and scheduling. (Support Staff of 2 FTE)
Financial Control - Responsible for budget/expense management, reporting and forecasting for 7 Budgets totaling 10+ millions dollars. (Support Staff of 1.5 FTE)
Money Transfer Special Service – Reconciliation, OFAC Processing and Internal Controls (Support Staff of 4)
Designated OFAC Officer for the NY Global Treasury Operations Branch
Key Participant in major change initiatives:
Installation of a Wire Transfer facility, Business Disaster Resumption, Y2K Readiness,
Continental Bank and NationsBank merger related initiatives.
Developed criteria and management routines for operational MIS and Straight through Payment Analyses From October 1996 to August 1999 (2 years 11 months) Vice President @ Northeast Control & Compliance
Provided compliance guidance for the following business lines: Global Custody & Clearing, US Clearing and Safekeeping, Corporate Trust, International Deposit Services, and Global Payment Services.
Re-engineered the Global Custody Unit to meet system limitations and business migrations/consolidations.
Provided on-site support for the divestiture of Clearing Corp. Chicago branch.
Provided on-site support the Continental Illinois Bank Due Diligence Project.
Project Manager for various aspects of the Institutional Trust Services and the Chicago Clearing Corporation business divestitures.
Liaison support for Regulatory, Internal and External examiners From August 1993 to October 1995 (2 years 3 months) Account Representative @ Account Representative - Individual and Small Business insurance related product sales From May 1991 to July 1992 (1 year 3 months) Operations Manager @ Operations Manager -Corporate Trust
Managed two Principal and Interest disbursement units that executed timely earnings and principal payments.
Managed a system support staff that provided system and operator support to the Corporate Trust Division. From August 1988 to March 1991 (2 years 8 months) Operations Administrator @ Securities Clearance From August 1988 to March 1991 (2 years 8 months) Brokers Clearance Clerk @ Securities Clearance From January 1977 to December 1981 (5 years)
AAS, Business Administration @ Kingsborough Community College From 1977 to 1979 Salvatore CAMS is skilled in: OFAC, Financial Services, Banking, AML, Risk Management, Bank Secrecy Act, KYC, USA PATRIOT Act, Financial Institutions, Risk Assessment, Internal Audit, Financial Risk, Auditing, Finance, Operational Risk
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