Laura Cruz
Bayamón
Summary
Visionary leader with proven track record in steering organizations toward success through strategic planning and effective management. Skilled in building cohesive teams, driving innovation, and enhancing operational efficiency to achieve business objectives. Demonstrated ability to transform challenges into opportunities, resulting in significant impact on company growth and profitability.
Overview
7
7
years of professional experience
1
1
Certification
Work History
Chief Compliance Officer
Strategic Bank International Corp.
San Juan
09.2023 - Current
- Administer the entire Compliance Program. Support Management and Staff in complying with BSA/AML/CTF/OFAC laws and regulations.
- Oversee all Areas and Departments of the Bank to ensure adherence to BSA, OFAC, CTF, and other Anti-Money Laundering laws and regulations.
- Report to the Board of Directors and present reports and pertinent documentation.
- Monitor KYC/CIP and Enhanced Due Diligence procedures.
- Ensure all accounts and transactions are filtered through OFAC and report any matches immediately, keeping the lists current.
- Investigate and report to FinCEN any known or suspected criminal activities by filing a Suspicious Activity Report (SAR).
- Maintain and update the BSA/AML/CTF/OFAC Compliance Manual regularly to reflect changes in laws and regulations.
- Create and update Bank forms, documents, and notices to comply with existing BSA/AML/CTF/OFAC legal and regulatory requirements.
- Perform the Bank’s Risk Assessment for new products, new services and/or new vendors.
- Review documentation pertaining to subpoenas and other legal documents to determine if further investigation is warranted.
- In charge of the Bank's Training Program and the Annual Training for the Board of Directors.
Business Development Officer
Standard International Bank
San Juan
11.2022 - 09.2023
- Responsible for meeting objectives associated with the business development of the Bank.
- Accountable for bringing new business to the Bank as well identifying potential clients, develop relationships and determine areas for business growth.
- Responsible for providing business development and customer service support to clients.
- Supporting the CEO in embedding and sustaining sales and service management activities of the Bank to ensures client’s needs and demands are met.
Compliance Supervisor
Fintech Venture Bank
San Juan
04.2022 - 09.2022
- Develop and create policies and procedures from scratch, for a fin tech startup. Implement the appropriate money laundering prevention controls including the crypto currency industry.
- Implement all aspects related to BSA/AML/OFAC Compliance program as established by the regulator.
- Responsible for supervising the tasks assigned to the compliance team. In charge of the bank’s training program including the BOD.
- Responsible for being up to date with all state and federal regulations, including but not limited to the regulations of BSA and AML.
- In charge of performing the quality control on flags, transactions, investigations and SAR filing.
- Responsible for the entire Compliance Team and their tasks (6 employees).
BSA/AML Compliance Supervisor
Facebank International Corporation
Guaynabo
07.2020 - 04.2022
- Implement and develop appropriate money laundering prevention controls, for compliance with applicable regulations.
- Implement all aspects related to the BSA / AML Compliance Program as established by the Bank.
- Verify, process and report Suspicious Activity Reports (SARs) in accordance with the provisions of current federal regulations. Reports required by the office of the Commissioner of Financial Institutions.
- Responsible for initiating investigations of violations of BSA / AML rules, procedures, policies and regulations.
- Responsible for supervising the tasks assigned to the compliance team after training and seminars received from the Bank.
- Responsible for being up to date with all state and federal regulations, including but not limited to the regulations of the Law on Banking Secrecy and Money Laundering (BSA / AML).
- Comply and design Bank Policies, Procedures and Employee Manuals.
- In charge of supervising the Compliance Department team (10 employees).
BSA/AML/OFAC Compliance Analyst
Activo International Bank
San Juan
09.2018 - 07.2020
- Performed AML analysis through BSA Flags, BSA Exceptions and BSA Profile Reviews on ECS.
- Monitor live transactions for Internal and Correspondent Bank incoming and outgoing wires through BSA Real Time Flags on RETINA (ECS).
- In charge of the daily OFAC screening through Oceans Systems – OFAC/EDD Verifier.
- Collaborate with Federal Law Enforcement Agencies with investigations and documentation initiated by SAR filings.
- Experienced analyzing PDVSA and Government of Venezuela contracts to validate compliance with EO 13808 and FincEN Advisory on Venezuela Public Corruption.
- Monitoring International Wire Transfers, Demand Deposit Accounts, Money Market Accounts, Savings Account, Foreign Correspondent Accounts, Loans and CD accounts. Conduct Customer EDD Cases, Investigations and Suspicious Activity Reports (SARs) on BSAFiling.
- Part of the Onboarding Process. Analyzed and opened Natural and Business Accounts on IBS.
- Knowledge on FinCENs Final Rule (UBO). Provided Support in updating BSA/AML Compliance Policies and Procedures.
- Analyzed and Investigate Subpoenas.
- Rejecting and Reporting funds blocked through OFAC Sanctions Programs.
- Support the Chief Compliance Officer in creating PIC, MSB and CIB Forms for High-Risk Customers to correct audits findings.
- Created the EDD Form for annual high-risk customer visits.
- Created the KYC Update Account Forms for Natural and Business accounts.
BSA Compliance Analyst
Banco San Juan International
Guaynabo
03.2018 - 09.2018
- Review monthly alerts generated by the banks monitoring system on Natural and Business High Risk Accounts. D
- iscarded daily OFAC false matches.
- In charge of the risk rating process for all new accounts.
- Comply with Federal, State and Legal requirements, including BSA, AML and OFAC as applicable.
- Analyzed internal wires to validate compliance with OFAC Sanctions Programs and Executive Order 13808.
- Prevent, detect and report possible Suspicious Activity.
- SAR filing through BSAFiling.
- Rejected, Reported and Blocked funds through OFAC Sanctions and Venezuela Executive Orders.
Education
BBA - Business Administration And Management
Ana G. Mendez University
Puerto Rico05-2021
Skills
- Team management
- Corporate governance
- Regulatory expertise
- Internal controls
- Ethical leadership
- Audit coordination
- 314(a) and 314(b)
- Anti-money laundering
- Bank Secrecy Act
- Customer Due Diligence
- Customer Identification Program
- Data and fraud analysis
- Decision making
- Enhanced due diligence
- FIS Core Implementation Process
- Federal Reserve Master Account Process
- Know Your Customer
- Leadership and management
- OCIF Audits
- OFAC
- Administrative Subpoenas
- Develop policies, procedures, and manuals
- Public speaking
- Regulatory compliance
- Suspicious Activity Reports
- Technical Validation Reports
- Risk Assessments
- Project Management
Accomplishments
- Business Ethics & Compliance Course (2014), University of Puerto Rico - Dr. Ilia E. Ramírez, PhD
- Compliance Coordinator - DCI Support Unit | BSA Corporate – Popular Community Bank (2016)
- BSA/AML Banco Popular de Puerto Rico In-House Trainings (2016)
- HSI San Juan Cornerstone Financial Conference (2016), Cidra, Puerto Rico
- Board Executive Compliance Directors Assistant - Department of State of Puerto Rico (2016 – 2017)
- Puerto Rican Symposium of Anti Money Laundering (2018-2024), San Juan, Puerto Rico
- 19th Annual FIBA AML Compliance Conference (2019), Miami, Florida
- SAR Decision Making Webinar (2019)
- BSA/AML/OFAC Training (2020), J&A Global Compliance
- Cumplimiento y Banca Corresponsal (2021), BDO
- Elementos Esenciales de un Programa de Anti-Lavado de Dinero (2021), Asociación de Bancos de Puerto Rico
- Seminario Anti-Delitos Financieros de ACAMS (2021)
- Puerto Rico Financial Forum 2022-2024
Certification
- Florida International Bankers Association – Member
- ACAMS – Member
- Puerto Rico Bank Association - Member
Languages
English
First Language
Timeline
Chief Compliance Officer
Strategic Bank International Corp.
09.2023 - Current
Business Development Officer
Standard International Bank
11.2022 - 09.2023
Compliance Supervisor
Fintech Venture Bank
04.2022 - 09.2022
BSA/AML Compliance Supervisor
Facebank International Corporation
07.2020 - 04.2022
BSA/AML/OFAC Compliance Analyst
Activo International Bank
09.2018 - 07.2020
BSA Compliance Analyst
Banco San Juan International
03.2018 - 09.2018
BBA - Business Administration And Management
Ana G. Mendez University
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