Mullett joel r cv 2011 compliance and risk management executive


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Mullett joel r cv 2011 compliance and risk management executive

  1. 1. JOEL MULLETT 617.448.9238 COMPLIANCE AND RISK MANAGEMENT EXECUTIVE Fifteen-year compliance and risk management expert with record of progressive responsibility and significant achievement in development of standardized internal control functions in broker/dealers, private banks, international and domestic trust and wealth structuring businesses, insurance companies, and other businesses in a global enterprise. Innovator in the field of anti-money laundering and economic sanctions, responsible for delivering “best-in- class” processes to identify and manage risk at a divisional and enterprise level. Global experience and industry-wide connections; responsibility for managing audit and regulatory relationships and exams globally with expertise in regulatory regimes and recent developments in U.S., Asia & Pacific Rim (India, Singapore, Japan, China, Indonesia, Korea, Australia), Europe (U.K., Switzerland, Monaco, Italy, Russia, France) and Latin America (Panama, Argentina, Venezuela, Uruguay, Chile).
  2. 2. 36 A Street Unit 2CJOEL R. MULLETT Boston, MA 02127 617.448.9238Certified Anti-Money Laundering Specialist™ Anti Money Specialist™ joelmullett@gmail.comExpertise Compliance and Risk Management Anti-Money Anti Money Laundering & Economic Sanctions (OFAC, etc.) Private Banking (Domestic & Off shore) Off-shore) Brokers and Dealers of Securities (SEC Registered and International) Trust and Wealth Structuring Investment Companies, Investment Advisory, and Family Offices Internal and External Exam Management Regulatory Relations and Policy Development Relations Operational Risk and Internal Controls Supervisory Control Systems, Tools, Functions, Project/Program Mgmt Control Private Lending & Commercial Lending Extensive Global Experience in Europe, Asia and Pacific Rim, Latin America Customer Due Diligence & Risk Mgmt. Customer Reporting and Executive Management Committee Structures/Risk Disposition Qualifications, Certifications, Board Appointments and Education Qualifications, ualificationsRegistrationsRegistration FINANCIAL INDUSTRY REGULATORY AUTHORITY AND SELF- REGULATORY ORGANIZATION REGISTRATIONS Series 24 General Securities Principal American Stock Exchange, LLC (NYSE AMEX Equities Series 4 Registered Options Principal Chicago Board Options Exchange, Incorporated Series 53 Municipal Securities Principal International Securities Exchange Holdings, Inc. Series 7 General Securities Representative NASDAQ Stock Market Series 6 Investment Company/Variable Contracts NASDAQ OMX PHLX, Inc. (Philadelphia Stock Exchange) (Philadelphia Series 63 Uniform Securities Agent New York Stock Exchange Series 65 Investment Adviser NYSE Arca, Inc.Notary NOTARY PUBLIC OF THE COMMONWEALTH OF MASSACHUSETTSCertifications ASSOCIATION OF CERTIFIED ANTI-MONEY LAUNDERING SPECIALISTS ™ (ACAMS) M ® Certified Anti Money Laundering Specialist Anti-Money Finalist (Runner-Up), Global Anti Money Laundering Professional of the Year Award™ 2009 (Runner Up), Anti-MoneyDirectorship ASSOCIATION OF CERTIFIED ANTI-MONEY LAUNDERING SPECIALISTS ™ (ACAMS) – BOSTON CHAPTER M Secretary of the Executive Board of Directors 2009 to Present Directors,Education NEW ENGLAND COLLEGE – BUSINESS & FINANCE A.S.B.A., Cum Laude, Business Administration with Securities & Capital Markets Concentration Member of Alumni Advisory Board Experiential Summarization/Employment HistoryOCT 2006 - PRESENT RESENT BANK OF AMERICA CORPORATION3/2011 - 11/2011 Vice President, Client On Boarding, Private Banking Office of Business Transformation Vice-President, On-Boarding, U.S. TRUST, BANK OF AMERICA PRIVATE WEALTH MANAGEMENT • MERRILL LYNCH TRUST COMPANY • RETIREMENT SERVICES WEALTH BANK OF AMERICA, N.A. AMERICA, Director, Registered Principal MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED PIERCE, • Manage client on-boarding, customer due diligence, account open, account-maintenance, and account-close on-boarding, account-open, account-maintenance, account-close functional areas, and develop strategy and business requirements for migration of private banking, investment functional investment management, and trust platform to the Merrill Lynch platform as part of a major initiative to segment customer Merrill relationships, have a common approach to on boarding and client data management, and gain cost saves through on-boarding consolidation of platforms and centralized technology & operations management • Developed standardized and controlled approach to customer -to-account relationships and defined the types of customer- account “roles” to an account, as well as the entitlements and legal capacity a party has to an account • Responsible for end to-end customer due diligence experience for U.S. Trust, Merrill Lynch Trust Company, and end-to end Bank of America Merrill Lynch Retirement Services businesses • Rationalized all private banking forms (over 210) and developed strategy for consolidation and online electronic Rationalized electronic capture of data needed to eliminate paper forms in target state environment
  3. 3. BANK OF AMERICA CORPORATION (CONTINUED FROM PREVIOUS PAGE)12/2009 - 3/2011 Director, Chief Anti-Money Laundering Risk Officer for the Americas & Registered Principal MERRILL LYNCH WEALTH MANAGEMENT, MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED Director, Executive Officer, and Chief Anti-Money Laundering Compliance Officer GPC SECURITIES INCORPORATED Vice-President, Division Senior Anti-Money Laundering Risk Manager BANK OF AMERICA, N.A. GLOBAL ANTI-MONEY LAUNDERING AND ECONOMIC SANCTIONS • Head of AML risk management for Merrill Lynch Wealth Management businesses in the Americas (U.S., Latin America, and the Caribbean): U.S. WEALTH MANAGEMENT & LATIN AMERICA INTERNATIONAL MONEY MANAGER SERVICES (RIA PLATFORM) PRIVATE BANKING & INVESTMENT GROUP BOFA™ GLOBAL CAPITAL MANAGEMENT MERRILL SIGNATURE CARDS AND CUSTOMIZED CREDIT FINANCIAL DATA SERVICES INCORPORATED (TRANSFER AGENT) ALTERNATIVE INVESTMENTS (PRIVATE EQUITY, HEDGE FUNDS, V.C.) MERRILL LYNCH HOME LOANS • Manage implementation of the Anti-Money Laundering and Economic Sanctions Programs required by enterprise policy • Provide risk management and subject matter expertise on money laundering, terrorist financing, financial crime and economic sanctions issues to the executive, divisional, and regional management of Merrill Lynch Wealth Management • Partner with executive management, compliance, risk, legal, governance and control, and audit partners to ensure an effective internal control environment and governance process • Direct assessment of the risk posed by money laundering, terrorist financing, financial crimes and economic sanctions, and document action plans with recommendations for closing gaps and enhancing internal controls • Supervise investigations matters for Merrill Lynch Wealth Management originating from monitoring, surveillance to ensure quality of analysis, proper disclosure to government authorities where appropriate, and advise in disposition of continued business relationship with customers subject to investigation/concerns • Supervise the processes and functions related to screening of customers and transactions for economic sanctions purposes and escalate matters to the Economic Sanctions Executive where appropriate • Ownership of Merrill Lynch Wealth Management-specific AML, economic sanctions, and customer due diligence training; set the tone for priority of AML and economic sanctions program with executive management and raise awareness throughout the division10/2006 – 12/2009 Vice-President, Global Head of Customer Due Diligence and Risk Management BANK OF AMERICA GLOBAL WEALTH & INVESTMENT MANAGEMENT (U.S. TRUST, BANC OF AMERICA INVESTMENT SERVICES, INC., COLUMBIA MANAGEMENT, AND PREMIER BANKING & INVESTMENTS) COMPLIANCE & RISK MANAGEMENT • Responsible for end-to-end customer due diligence (Know Your Customer) process, systems and technology, functional areas, quality control, audit and exam management, training, and reporting to executive management • Developed a process and approach for identification and management of high risk customer base using internal risk definitions, outside sources for scanning against negative media, etc., and provided comprehensive reporting to enable executive management to be articulate about the inherent risk present in its portfolio • Direct recommendations to executive management on mitigation of risk, including termination (where appropriate) of customer relationships based upon money laundering, terrorist financing, financial crime, and economic sanctions, reputational risk • Manage teams dedicated to on-boarding and monitoring of high risk customers, support on-boarding process, controls, risk assessment, enhanced due diligence functions, vendor selection/customization, and central management of negative events • Manage internal and external audit and exams (OCC, SEC, FINRA, Federal Reserve, independent consultants, corporate audit) • Manage multi-year, multi-million dollar project management office to execute global standardization of customer due diligence at on-boarding; establish governance routines with regional AML risk managers globally as the customer due diligence practice lead • Manage end-to-end U.S. Trust, LaSalle, Countrywide, and Merrill Lynch transition projects for AML7/2005 – 10/2006 J.P. MORGAN CHASE & CO. INCORPORATED • OFFICE OF THE GENERAL COUNSEL Vice President | Senior Compliance Officer, Asset & Wealth Management Compliance JPMORGANCHASE BANK, N.A. Chief Compliance Officer, Compliance Registered Options Principal, Executive Officer JPMORGAN INVEST Online Brokerage, J.P. MORGAN INSTITUTIONAL INVESTMENTS INC. • Chief Compliance Officer, JPMorgan Invest, the self-directed brokerage offering of JPMorgan Asset & Wealth Management
  4. 4. J.P. MORGAN CHASE & CO. INCORPORATED (CONTINUED FROM PREVIOUS PAGE) • Executive Officer of J.P. Morgan Institutional Investments Inc. and Compliance Registered Options Principal, responsible for execution of the compliance program within self-directed brokerage business; • Supported transition of BrownCo LLC (brokerage) to E*TRADE, including compliance support and conversion of accounts • Managed review, approval, and records for all communications of the firm to ensure compliance with NASD, SEC, ERISA, and firm standards; • Compliance oversight of retail and institutional product management for wide range of offerings, including online brokerage ; mutual funds; equities; options; fixed income; health savings accounts; private equity; alternative investments; employee retirement plans; research and advice • Compliance Registered Options Principal (CROP) for broker/dealer: responsible for compliance with federal securities laws and self-regulatory organization rules, set policy and govern compliance program for option activities; provide final review and approval of options-related advertisements/communications; testing of policies and procedures; quarterly review of options business for reporting to CEO • Support middle and back office operations functions; manage exception reporting, including aggregate B-share purchases, options activity, mutual fund switches, breakpoint reports, etc.; maintained books and records and ensured line supervision review as necessary; reviewed best execution reports • Perform annual audits of corporate broker/dealer offices of supervisory jurisdiction (OSJs) • Managed firm customer complaint and regulatory inquiry procedures and responses04/2000 – 07/2005 METLIFE, INC. • CORPORATE ETHICS AND COMPLIANCE Compliance Director METROPOLITAN LIFE INSURANCE COMPANY, METLIFE SECURITIES INC. (METLIFE BROKER/DEALER GROUP) • Managed corporate sales material review and investment advisory compliance functions for MetLife corporate communications and all individual lines of business • Responsible for registered principal review of corporate-produced advertising, sales literature, and other materials as defined by firm policy for four dually-registered broker/dealers and investment advisers, in addition to its life, disability, and long term care insurance issuers. Ensured compliance with FINRA, SEC, NAIC, state regulations and company policies • Directed project management office set up for transformation of corporate approach to communications, leading development of web-based application to facilitate sales material review and creation of enterprise level program • Director of investment adviser compliance for corporate and third party registered investment adviser products and services for all MetLife broker/dealer and individual lines of business • Managed regulatory examinations, inquiries, and registration of the broker/dealer and investment adviser affiliates of MetLife • Directed compliance review functions for new product development for all MetLife broker/dealer and investment adviser affiliates1999-2000 EDWARD JONES INVESTMENTS LP • PRODUCT & SALES Trader – Listed Equities EDWARD JONES TRADE OPERATIONS • Traded exchange listed equity and other general securities; monitored trades and open orders for best execution; reviewed time & sales reports for quality control; billed customer trades and executed trade corrections (incorrect securities, cancels, buy v. sell, price corrections); directed order flow to various exchanges or market centers during system outages; negotiated price improvement with Pershing floor brokers; directed orders to specific market center at customer request1996-1999 DEUTSCHE BANK A.G. • DEUTSCHE BANK ASSET MANAGEMENT/DWS INVESTMENTS Quality Assurance Supervisor DWS SCUDDER DISTRIBUTORS INC. • Evaluate recorded phone calls in Shareholder Services and Sales Support, then provide feedback on how to make calls more proactive and raise service levels and uncover new sales opportunities for mutual fund arm; ensured quality of transaction processing, problem research and resolution, and client service