Managing the AML Risks of Correspondent Banking

  • When: November 30, 2016
  • Time: 12:00 PM – 2:00 PM ET
  • Level: Beginner to Intermediate

Correspondent banking is a vital link in global finance. However, correspondent relationships can pose unique oversight challenges, most notably reliance on third parties to identify beneficial owners and politically exposed persons. This webinar outlines common challenges and proposed solutions to the distinct compliance concerns related to correspondent banking, providing practical guidance on applying a risk-based approach to mitigate potential AML challenges, identify red flags and properly investigate and resolve potential problems.

Learning Objectives

  • Adapting CDD/KYC policies to address unique risks of correspondent banking such as nested accounts
  • Examining branches, subsidiaries and affiliates of correspondent clients to gauge AML adequacy
  • Creating strategic profiles of respondent banks to identify and investigate aberrant transactions

Who Should Attend

  • Risk Managers
  • Compliance Officers
  • Legal Advisors


  • Global
  • Africa
  • Asia-Pacific
  • Caribbean
  • Europe
  • Latin America
  • MENA
  • North America
  • Banking
  • Law


ACAMS Members Non-Members
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Nicolas Khouri
  • Nicolas Khouri, CAMS

  • Senior Director, Audit Services
  • Ally Financial Inc.


  • Angela Mele, CAMS-Audit

  • Founder & Director
  • RiskPass AML + Compliance Ltd.


Angela Mele has 20+ years of international financial services experience, having worked initially in Bermuda and, for the past 19 years, in the Cayman Islands. Angela has six years of regulatory experience with the Cayman Islands Monetary Authority, and later was appointed Head of the Compliance & Training Division of Citi Hedge Fund Services in Cayman.

Angela is currently Managing Director of RiskPass AML+Compliance Ltd.,a full service compliance consulting firm located in Cayman. She has extensive experience designing and delivering in-house compliance programs, implementing FATCA and UK CDOT services, delivering bespoke AML/CTF training, and performing internal AML/CTF audits for various industries within the financial services sector throughout the Caribbean.

Michael Schidlow
  • Michael S. Schidlow, CAMS-Audit

  • Financial Crimes Compliance Expert

Michael Schidlow currently serves as the Head of Financial Crime Risk Training for HSBC Bank’s Global Internal Audit Function. In this role, Schidlow designs and delivers bespoke training courses on anti-money laundering (AML), terrorist financing, anti-bribery/corruption (ABC), and anti-financial crime best practices across the company’s global footprint. Schidlow also leads the function’s Emerging Risk Advisory for North America, Latin America, and for the Global Financial Crime Risk teams. He consults on audit planning and audit scoping based on regulatory issues, enforcement actions, and external environment monitoring.

Schidlow previously served as an investigator for Bank of America’s Global Financial Crimes Compliance division, specializing in high-profile client compromises, complex fraud, and insider abuse allegations. Schidlow started his career working as an attorney concentrating on regulatory compliance and white collar litigation matters. Schidlow holds the Certified Fraud Examiner (CFE), Certified Anti-Money Laundering Specialist (CAMS), ACAMS Advanced Certification in AML Audit (CAMS-Audit), and is a licensed attorney.

Joe Soniat
  • Joe Soniat, CAMS-FCI

  • Account Risk Management, Sr. Associate
  • Federal Reserve Bank of New York


Joe Soniat is the Director of the Financial Intelligence Team and the BSA/AML Officer at Union Bank and Trust; one of the largest community banking organizations in Virginia. Joe worked as a finance officer for the U.S. government from 2002-04 and also serves on the BSA Coalition Advisory Board, which comprises bankers and regulatory representatives from federal and state agencies throughout the fifth district of the Federal Reserve.