#United States #New York #BRG #financial crime #Anti-Money Laundering

BRG Expands Financial Crime Division

In a strategic move to strengthen its capabilities in combating financial crimes, BRG, a global expert services and consulting firm, has unveiled key additions to its Financial Institution Advisory practice. The firm has hired three notable professionals: Managing Director Samantha Welch, along with Directors Gene Bolton and Kristin Wenske, all based in New York. Each of these new executives brings a wealth of expertise in key areas such as anti-money laundering (AML), counterterrorism finance, fraud prevention, and corruption.

As financial crime threats escalate due to geopolitical tensions and advances in technology, BRG anticipates a significant increase in financial misconduct over the coming decade. Paul Noring, the leader of BRG's Financial Institution Advisory practice, stressed the urgency of addressing these evolving challenges and highlighted the importance of adhering to compliance regulations: “The penalties for businesses failing to mitigate these risks are likely to rise in tandem with the threats they face.”

Paul Noring emphasized the unique skill sets that Welch, Bolton, and Wenske bring, remarking that their extensive industry and regulatory experience will be crucial as BRG endeavors to provide innovative and impactful solutions for clients navigating this critical area of risk.

Key Contributions from the New Executives

Samantha Welch possesses a robust background that combines substantial in-house experience with prestigious financial institutions, supplemented by her consulting acumen. She has previously worked with diverse clients, including banks, digital asset firms, and investment companies, in tackling complex compliance challenges surrounding AML, sanctions, and reputational risk management.

Welch shared her enthusiasm for joining BRG, stating, “In today’s rapidly evolving regulatory landscape, financial institutions face increasing difficulties in managing compliance and addressing financial crime risks.” Her insights and leadership in regulatory compliance will prove essential to BRG's mission of assisting clients in navigating these turbulent waters effectively.

Gene Bolton also brings a significant amount of experience in the realm of financial crime compliance. His focus has been on combating money laundering, ensuring sanctions compliance, and addressing financial terrorism. He has worked closely with governmental regulatory bodies such as the Department of Justice and the Federal Reserve, offering him a comprehensive view of what clients need to prioritize in compliance strategy.

Catering to Modern Compliance Needs

Having a thorough understanding of compliance program evaluation and enhancement, Bolton is poised to offer vital support to financial institutions and emerging fintech companies as they confront the dynamically changing regulatory environment. His extensive knowledge positions him uniquely to help clients optimize their compliance strategies in a landscape that evolves almost daily.

Kristin Wenske rounds out the new team and brings over 15 years of focused experience on the Bank Secrecy Act, AML, and sanctions compliance. Her specialty lies in program remediation and risk management, emphasizing operational efficiencies critical for today’s financial institutions and fintech players. Wenske’s track record includes successfully leading large-scale transaction monitoring units while collaborating effectively with senior management at major organizations.

“The reputation of BRG for achieving exceptional client results is well known,” Wenske commented. “I, along with Gene and Samantha, are eager to elevate our collective ability to advise clients on navigating financial crime risk reduction and compliance challenges.”

Conclusion

BRG’s investment in talent exemplifies their commitment to leveraging top-tier expertise to tackle the growing complexities associated with financial crime. These leadership appointments not only bolster the firm's advisory practices but also ensure that clients remain informed and compliant amidst rapidly changing regulations. With the combined experience and insights of Samantha Welch, Gene Bolton, and Kristin Wenske, BRG is well-positioned to assist its clients in addressing the multifaceted challenges posed by financial crime in today's landscape.

In an era marked by increasing scrutiny and regulatory demands, financial institutions are now faced with the pressing need for qualified guidance to remain ahead of the risks. With their formidable track record and BRG's reputable standing, this trio is set to provide high-impact solutions that empower organizations globally.

For further insights into BRG's growing initiatives and expert capabilities, visit thinkbrg.com for more detailed information.