Mitigating Fraud and Compliance Risk in Response to the CARES Act

Recorded On: 05/01/2020

PRESENTER(S):

Alma Angotti, Partner and Co-head of the Global Investigations and Compliance Practice, Guidehouse
Christopher Sicuranza, Partner and Head of the Banking, Insurance and Capital Markets Practice, Guidehouse
Doug Twining, Senior Vice President and Director of Enterprise Fraud Management, Hancock Whitney Bank

ABOUT THE WEBINAR:

On March 27, 2020 the Coronavirus Aid, Relief and Economic Security Act (the CARES Act) was signed into law, providing several provisions to assist Americans during this time and beyond. The Small Business Administration’s (SBA) Paycheck Protection Program (PPP) and the Federal Reserve’s Main Street Lending Program both provide Lenders the ability to make loans to support small and medium sized businesses.

Each of these programs as well as other aspects for the CARES Act and state level responses to the COVID-19 pandemic create unique fraud and compliance risks for lenders. It’s important for lenders to be diligent and bolster compliance and governance programs to mitigate unforeseen fraud and risk. Unfortunately, it is times of peril where fraudsters seek to take advantage and given the wide-reaching impacts of COVID-19, we are observing an uptick in losses due to fraudulent activity perpetrated from within organizations, by fraudulent borrowers, or external parties. In this webinar, you will hear from leading fraud industry experts on ways to minimize fraud risk and identify ways to enhance current compliance and governance programs.

THIS WEBINAR WILL COVER:

Managing fraud risks related to implementing the PPP and the Main Street Lending Program.
Adapting your compliance program to account for potential risks including fair lending, Unfair, Deceptive, or Abusive Acts or Practices (UDAAP) and other compliance issues.
Lender considerations for state level compliance.

TOP 3 BENEFITS TO ATTENDEES:

Understanding fraudster tactics, new risks and potential governance and program vulnerabilities which have emerged due to the pandemic.
Key steps financial institutions can take to bolster governance programs and mitigate fraud risk including prevention, detection, mitigation, and, remediation.
Continuing fraud mitigation and compliance practices after the wave of application submission is complete.

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Alma Angotti

Partner and Co-head of the Global Investigations and Compliance Practice, Guidehouse

Alma Angotti is a Partner and Co-Head of the Global Investigations & Compliance practice. She is a recognized expert in anti-money laundering (AML), combatting the financing of terrorism (CFT) and economic sanctions compliance. She has counselled her clients in a variety of projects, and managed gap analyses, compliance program reviews, risk assessments, remediation efforts, investigations, and historical transaction reviews. Her clients include large, complex, global financial institutions, global payments institutions, mid-sized banks, broker-dealers, and Fintech and digital assets companies, hedge funds, casinos, and multinational corporations.

Alma has held interim senior compliance leadership positions at several global and regional financial institutions providing day-to-day management of their compliance programs and assisting them with remediation efforts, often in the context of a regulatory or criminal enforcement action. She has trained and advised the financial services industry and regulators and government officials worldwide on AML, sanctions, CFT and other regulatory compliance issues.

With more than 25 years of experience in regulation and enforcement, Ms. Angotti has held senior enforcement positions at the U.S. Securities and Exchange Commission (SEC), U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) and FINRA (Financial Industry Regulatory Authority). In these positions, she was responsible for investigations and enforcement of the Bank Secrecy Act, the federal securities laws, and FINRA rules. At FinCEN and FINRA, she designed and lead the AML enforcement programs.

Christopher Sicuranza

Partner and Head of the Banking, Insurance and Capital Markets Practice, Guidehouse

Christopher Sicuranza leads the banking, insurance, and capital markets practice at Guidehouse, which seeks to solve our client's most complex business challenges. The practice has over 250 professionals in eight domestic offices and an offshore facility in India.

With more than 20 years of experience advising consumer finance, government, and banking organizations, Christopher specializes in providing solutions that help clients optimize the use of financial and operational information to improve profitability, to minimize risk capital, and to address regulatory requirements. A proven engagement leader with the ability to manage large complex projects in risk management and controls, regulatory compliance, and operational effectiveness. He has led teams of over 200 people focused on the industry’s most critical issues including the largest U.S. financial restatement, the Independent Foreclosure Review, the National Mortgage Servicing Settlement, and other consent order-related engagements.

Christopher is actively engaged on multiple complex matters, which include advising banking clients on mortgage servicing standards; redesigning change management processes; and rationalizing control infrastructures to improve operational outcomes while reducing overall costs.

He has published thought leadership and spoken about banking industry topics including regulatory compliance, third-party vendor management, and regulatory change management.

AREAS OF EXPERTISE

Risk Management Consulting, Compliance, and Control: Specializes in assessing financial, operational, compliance, and strategic risks, and opining on management responses and corresponding control activities.
Operational Effectiveness: Advises senior finance and operations executives in transforming organizations to improve performance and reduce expenses.
Business and Financial Analytics: Analyzes financial and operational data and business objectives to develop decision-making tools and management reports.

Doug Twining

Senior Vice President and Director of Enterprise Fraud Management, Hancock Whitney Bank

Doug Twining is a Senior Vice President and Director of Enterprise Fraud Management at Hancock Whitney Bank. He is responsible for the fraud strategy and fraud operations of the bank. This includes all channels and most products for the bank, consumer and commercial.

Doug has over 25 years of banking experience, the last 20 of which in fraud risk management roles. Previous to Hancock Whitney, Doug was with SunTrust, and for 9 years prior at Key Bank. Doug’s first 12 years in banking was with First of America Bank & National City, which through merger is now PNC.

Doug has been engaged with industry groups via the ABA, BIA, BITS, Visa and others, for many years. He has presented on a variety of topics in Fraud Risk & Prevention. While the card space was his initial entry into fraud risk management, Doug enjoys all aspects of fraud prevention and the valuable work Hancock Whitney, and the industry, does to protect consumers and business from a wide array of threats in financial crimes.