AFC in Practice: AFC Risks and Controls for Asset Managers and Broker-Dealers

Kyle Daddio specializes in financial crime compliance and securities regulation. Kyle’s expertise includes designing and implementing AML, KYC, Trade Surveillance, and Sanctions programs for global financial institutions including banks, broker dealers, investment advisors, fintechs, payment processors, and money service businesses.

Kyle is experienced in assessing financial crimes compliance programs, identifying gaps and regulatory issues, and providing meaningful solutions. He assists financial institutions in efforts to remediate their AML programs due to pending enforcement actions and in response to consent orders. He has been an AML expert and liaison to investigators from federal, state, and local agencies, such as the Securities and Exchange Commission, FINRA, National Futures Association, Commodity Futures Trading Commission, U.S. Department of Treasury, and Southern District of New York.

Prior to joining Stout, he was a Managing Director at FTI Consulting. He has held senior-level AML positions within the industry and began his career with the Federal Bureau of Investigation (FBI). Kyle served as the Chief AML Officer at Interactive Brokers LLC, one of the largest online trading firms, where he was responsible for overseeing AML, KYC, Sanctions, and Trade Surveillance programs. At Interactive Brokers, he was hired in response to a multi-regulator enforcement action as the first solely dedicated AML Officer, where he developed and enhanced the AML, Sanctions, and Trade Surveillance programs to include enhancing policies and procedures, implementing technology solutions, building the organizational staffing structure, developing AML specific training, and all aspects of operationalizing a Financial Crimes Compliance program.

Kyle began his career at the FBI in the Counter Terrorism Division, working international investigations and representing the FBI on the Joint Terrorism Task Force (JTTF) in NY and National Cyber Investigative Joint Task Force (NCIJTF). He spent time in the Middle East as a member of the Joint Interagency Task Force, part of the U.S. Joint Special Operations Command, as well as in Guantanamo Bay as a member of the FBI’s High Value Detainee Prosecution Task Force. He received the Joint Civilian Service Commendation Medal from the Department of Defense for his service overseas.

With over a decade of experience, Sourit excels in crafting and implementing robust risk mitigation strategies to detect and prevent suspicious activities, safeguarding the integrity of our financial network. His passion for technology drives his current initiative to integrate AI, aiming to enhance the efficiency and effectiveness of financial crime controls in the competitive brokerage industry.

Sourit specializes in governance, risk management, transaction monitoring, trade surveillance, and data science, consistently focusing on building resilient compliance frameworks. Before joining Interactive Brokers, Sourit worked at Deloitte and EY, where he served as a key financial crime’s advisor. In these roles, he helped multiple financial institutions develop and elevate their compliance programs, including those under remediation by US and international regulators. He has led initiatives that significantly improved software processes to combat financial crimes more effectively. These experiences have solidified his expertise in regulatory compliance and analytics, fuelling his mission to deliver secure, innovative solutions in the high-stakes finance sector.

Vanessa is currently an independent AFC Auditor and Risk Management Consultant with a global career spanning NYC (USA), Mumbai (India) and more recently Vancouver (Canada). Vanessa’s forte lies in helping organizations to ethically interpret regulation, design risk-based AFC programs and test these programs to enable constant evolution in combating financial crime and other threats. Her current area of focus is driving AI penetration in AFC threat assessment, investigation, monitoring  and reporting. Prior to starting her own consultancy, she worked as a Director with Morgan Stanley in their Global Financial Crimes Team, and has held various roles with Barclays, EY, ONGC, A.P. Moller Maersk Group and BCI.

Vanessa is the first woman in India to achieve the CAMS-Audit credential from ACAMS and holds the CAMS-Risk Management credential too. In 2021, she delivered a webinar on ‘Algorithmic Bias and its impact on Financial Inclusion’. She is a graduate of the Compliance Career Academy at Cambridge University’s Judge Business School. Her CAMS-Audit whitepaper titled ‘Eyes Wide Shut: Understanding Unconscious Bias in AML Audits’ discusses how auditors and organizations can use research on biases to augment automated solutions and mitigate risks in the different stages of an AML audit to guard against perpetuation of those biases.

In 2014, Vanessa received the Mountbatten-Barclays Graduate Trainee Scholarship. She also holds a bachelor’s degree in chemical engineering and an MBA (Technology Management) from NMIMS University, Mumbai.

Jamie Udinson is a Senior Director and head of FINRA’s Crypto Asset Investigations team, part of the Cyber and Analytics Unit that sits within FINRA’s National Cause and Financial Crimes Department. During her 15+ years at FINRA, Ms. Udinson has served in both the Member Supervision and Enforcement Departments, managing examinations and investigations, and leading strategic projects across FINRA’s regulatory operations departments. Ms. Udinson has an MBA from La Salle University and is a Certified Anti-Money Laundering Specialist.