Stephen Herbert Email and Phone Number
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COMPLIANCE MANAGEMENT ASSOCIATES, LLCAssuring Compliance | Mitigating Risk | Driving EfficiencyBSA/AML Compliance & Risk Management Consulting▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬Compliance Management Associates LLC (CMA) is a BSA Risk Management & Control Consulting firm based in South Florida - designated both as a critical High-Intensity Drug Trafficking Area (HIDTA) and a High-Intensity Financial Crime Area (HIFCA). Our offering, which includes fractional Bank Secrecy Act/Anti-Money Laundering (BSA/AML) services, is targeted to assist our clients in addressing risk management issues emanating typically from passive oversight, insufficient policies, procedures and expertise, deficient risk monitoring and reporting and inadequate BSA/AML training.Areas of Expertise▬▬▬▬▬▬▬▬▬BSA, AML, OFAC ComplianceRisk & Control ManagementCompliance Monitoring & Testing (CMT)Issues and Remediation PlanningEnforcement Action RemediationWho We Serve▬▬▬▬▬▬▬We serve financial institutions, non-bank financial institutions, broker-dealers, and credit unions.Our Team▬▬▬▬▬The accomplished team at CMA not only possesses seasoned expertise in banking operations but also boasts a C-suite background, showcasing extensive experience and a comprehensive understanding of regulatory affairs. We adopt a collaborative approach with the client in determining the priority of the areas to be scheduled for review in the consulting engagement based on the annual risk assessment, audit findings and regulatory exam findings.Value Proposition▬▬▬▬▬▬▬▬We are a specialty consulting advisory firm assisting our clients in the satisfaction of regulatory mandates and mitigation of financial crime risks. Execution of robust quality assurance analyses supported by the utilization of advanced technology applications provides the basis for the identification of risk mitigation strategies. Our services include engaging in the clearance of backlogs in the BSA Unit and the execution of regulatory look back requests.If you want to▬▬▬▬▬▬✔ Benefit from an independent review of oversight effectiveness regarding compliance risks, which entails critical and robust evaluation and testing of the internal controls system including policies and procedures to ensure you satisfy regulatory mandates.✔ Secure expert guidance and assistance in the remediation of enforcement actions.✔ Alleviate any concerns regarding independent testing for compliance with trade finance transactions.Let’s connect and discuss your strategic options: 📨 sherbert@cma-llc,com or 📲 305.586.6921
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Founder And CeoCompliance Management Associates LlcFlorida, United States
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Founder & CeoCompliance Management Associates Llc Sep 2016 - PresentKendall, Florida, UsEngaged initially as a board member providing governance and guidance in the shaping of management policies and the strategic development of the firm. Our focus is targeted towards assisting our clients in addressing risk management issues emanating typically from passive oversight, insufficient policies, procedures and expertise, deficient risk monitoring and reporting and inadequate BSA/AML training. -
Avp, Senior Compliance Officer, Aml Monitoring/TestingAmerant Sep 2017 - Jun 2023Coral Gables, Florida, UsKey member of BSA Department - Governance, Risk and Compliance Unit, responsible for the execution of centralized anti-money laundering and OFAC testing. Provided subject matter expertise and oversight for BSA and OFAC reviews. Completed special projects as required.✓ Performed AML/BSA/OFAC compliance testing to mitigate exposure to regulatory sanctions, fines and penalties. ✓ Ensured compliance with federal and state regulations and the bank’s policies and procedures.✓ Reported on BSA compliance testing metrics and risk indicators to proactively manage trends and issues.✓ Mitigated exposure to losses within the business and operations processes of the bank by identifying and evaluating risks.✓ Improved internal control process efficiency by providing compliance review results and recommendations.✓ Maintained knowledge of all regulatory developments related to banking operations.✓ Collaborated with department managers to successfully implement any procedural changes resulting from testing, monitoring, observations or findings. Proactively collected feedback to assess effectiveness of proposed changes.✓ Addressed the OCC’s MRA’s from recent examinations, successfully executing, within a rigid timeline, a review and enhancement of the policies and procedures of all of the bank’s lending divisions including trade finance. Subsequently conducted training sessions with the respective line and staff personnel. -
Bsa Senior Analyst/InvestigatorAmerant Sep 2016 - Aug 2017Coral Gables, Florida, UsConducted reviews of accounts escalated as referrals either from system generated alerts or manual tips.✓ Reviewed and investigated alerts, performed investigations and EDD reviews for potential suspicious activity. ✓ Made risk-based SAR recommendations and prepared SARs. Prepared 314B requests.✓ Maintained strong working knowledge of compliance regulations including BSA, USA Patriot Act, Sanctions Screening, etc.
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Managing Member, Consultant, Anti-Money LaunderingCompliance Management Associates, Llc May 2012 - Aug 2016Leader of the consultancy practice engaged in the marketing and deployment of anti-money laundering and counter-terrorism financing compliance software-as-a-service (SaaS) solutions for clients within the U.S. and internationally. Implemented AML/CTF compliance services such as customer due diligence, documentation management, watch-list screening and transaction surveillance to banks, broker-dealers, money-service businesses and credit unions.✓ Identified client needs and ensure appropriateness of system’s architecture.✓ Engaged in calibration activities to secure success of planned outcomes and achievement of maximum operational efficiency.✓ Validated alignment with regulatory requirements and risk management objectives.
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Consultant, Anti-Money Laundering (Aml)Banesco Usa Mar 2013 - Mar 2016Miami, Florida, UsAs an independent adviser, conducted reviews, quality control and remediation projects within the bank’s Compliance Department. ✓ Oversaw client onboarding, including list verification and transaction monitoring.✓ Reconciled the General Ledger Suspense Account where pre-account-opening deposits were held and resolved the respective regulatory compliance issues through remediation of the procedures involving the client on-boarding process. ✓ Analyzed financial transaction exceptions and monitored high-risk account transaction activity.✓ Ensured information consistency across all the bank’s software applications.✓ Generated annual high-risk account reviews, investigative summaries and suspicious activity report (SAR) filings.✓ Verified documentation accuracy concerning account purpose, client type, source of wealth and source of funding.✓ Leveraged Know Your Customer (KYC) remediation to improve documentation processes.✓ Employed pre-defined database to identify non-governmental organizations (NGOs) and politically exposed persons (PEPs), non- bank financial institutions, embassies, IBCs and personal investment corporations (PICs). -
Managing DirectorTransantilles International, Inc. Apr 1983 - Dec 2012Oversaw all operations for trading company that imported and exported building materials. Managed distribution centers in Miami, Dallas, Los Angeles and Savannah. Led diversification in geographic markets and new product offerings.✓ Spearheaded growth initiatives, including the acquisition of leased lumber mill operations based in San Pedro Zula, Honduras.✓ Oversaw supply for The Home Depot, Dal-Tile and Mohawk Industries for products sourced in LATAM, Europe, and Asia.✓ Ensured compliance with contractual obligations, service delivery and timelines.
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Board Of DirectorsInternational Bancorp Of Miami, Inc. Oct 1988 - Dec 2010Appointed to the Board of Directors of the bank holding company as well as the The Bank of Miami, N.A. Emphasis on leading key organizational initiatives as an integral member of the senior management team with broad organizational interaction and influence on future company and business direction.Key Compliance Initiatives▬▬▬▬▬▬▬▬▬▬▬▬✓ Participated as member of the Executive Team in establishing governance processes of direction and control to ensure that objectives were achieved, risks were managed appropriately and company resources were used responsibly.✓ Conferred with BSA department personnel, reviewed SARS and cases, made recommendations for filing and responded to subpoenas.✓ Primary point of contact with regulators regarding findings and liaison between regulators and bank staff to remediate them.✓ Major contributor to the development and deployment of an in-house created enterprise-wide account surveillance system that interfaced with the bank’s core. This offered a robust KYC module, account risk-rating, account monitoring and EDD capability. ✓ Provided oversight of the bank’s annual risk assessment, monthly monitoring status reports, account reviews pending/completed, officer responses, SARs, closed account reports, KYC documentation exceptions and updates of policies/procedures and activities.✓ Improved processes related to risk assessment methodology, independent audits and schedules and transaction testing✓ Participated in weekly BSA/AML meetings to discuss and review cases and contributed to final determinations on SAR filings.✓ Interviewed and made hiring recommendations for key BSA/AML department personnel. * continued below *
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Board Of DirectorsInternational Bancorp Of Miami, Inc. Oct 1988 - Dec 2010* continued from above *Audits and Investigations▬▬▬▬▬▬▬▬▬▬▬▬✓ Key member to provide oversight regarding the OCC’s regulatory compliance at The Bank of Miami, N.A. which successfully exited an October 2004 Consent Order relating in large measure to BSA/AML issues.✓ Conducted annual operational assessments to proactively manage the bank’s risk.✓ Evaluated RFPs and hired 3rd party providers including Deloitte, accounting firms, external auditors, etc.✓ Maintained direct interaction with bank regulators in resolving fraud and money laundering investigations and BSA/AML MRAs of the OCC’s Report of Examination. ✓ Provided critical evaluation in the development and updating of enhanced BSA/AML internal policies, procedures and controls with emphasis on monitoring of Foreign Correspondent Bank Accounts and Payable through Accounts due to the bank’s international profile. ✓ Proactively involved in negotiations and as a liaison with 3rd party providers relating to scope and approach of project engagements such as the annual BSA/AML risk assessment methodology, independent audits and schedules, transaction testing criteria and training. Committees▬▬▬▬▬▬✓ Chairman of Compliance Committee for the Bank Secrecy Act (BSA)/Anti-Money Laundering (AML). ✓ Served concurrently on committees such as Audit & Compliance, Director’s Loan Committee, Compensation Committee and Asset & Liability Committee.
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Managing DirectorConsolidated Warehouse Services, Inc. Dec 1998 - Aug 2003Oversaw all financial, operational and administrative functions for flooring products import and distribution company. Arranged for a $25MM asset-based credit line with General Electric Capital to achieve prescribed goals.✓ Increased market share and brand equity by creating new value proposition and marketing plan. ✓ Formulated company strategies to capture market share and implemented niche programs which differentiated the company from the competition and reinforced them as an industry leader. ✓ Utilized a top-line sales and operations management approach to rapidly achieve and exceed profitability goals.
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Director, Miami BranchPt Tirtamas Comexindo Dec 1994 - Nov 1998Determined decision-making processes regarding key commercial and financial activities in the U.S. and Canada. ✓ Conceived and implemented resourceful business plans for an international conglomerate. ✓ Led resourceful business decision-making regarding key commercial and financial activities in the U.S. and Canada for an international division of an Indonesian conglomerate involved in power generation, petro chemicals, cement manufacturing, coal mining, transportation, agricultural plantations, finance and government counter-trade contracts.
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ConsultantHerbert Consulting Feb 1980 - Mar 1983Led targeted consultations focused on mergers, acquisitions, financing and corporate planning. Developed and delivered finance, accounting and management lectures at Concordia University, John Abbot College and Vanier College.
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Director, International DivisionNeal & Massy Holdings Oct 1975 - Feb 1980Directed international division of a multi-faceted public company overseeing all financial and accounting functions of international subsidiaries, consolidation and project planning. Evaluated capital expenditures and generated monthly financial performance analyses and evaluations. Directed long-range planning process while facilitating M&As, capital expenditures and feasibility studies.
Stephen Herbert Skills
Stephen Herbert Education Details
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Concordia UniversityFinance -
Sir George Williams UniversityBachelor Of Commerce Degree In Business Finance
Frequently Asked Questions about Stephen Herbert
What company does Stephen Herbert work for?
Stephen Herbert works for Compliance Management Associates Llc
What is Stephen Herbert's role at the current company?
Stephen Herbert's current role is Founder and CEO.
What is Stephen Herbert's email address?
Stephen Herbert's email address is st****@****ntl.com
What is Stephen Herbert's direct phone number?
Stephen Herbert's direct phone number is +130523*****
What schools did Stephen Herbert attend?
Stephen Herbert attended Concordia University, Sir George Williams University.
What skills is Stephen Herbert known for?
Stephen Herbert has skills like Banking, Risk Management, Financial Risk, Executive Management, Credit, Financial Analysis, Finance, Financial Services, Due Diligence, Anti Money Laundering, Management, Bank Secrecy Act.
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