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CHIEF PRODUCT & MARKETING OFFICER Jose Caldera has been developing and marketing products for the last 20 years. An entrepreneur at heart, his focus has always been on the Enterprise, developing products and services for Information and Payments Security, Risk Mitigation and Compliance. He started in application and network security, later moving on to payments, virtual currencies, anti-fraud, and anti-money laundering. He has developed and marketed products for a number of silicon valley companies including Securify, McAfee and now IdentityMind Global. Jose earned a Masters of Science in Information Networking from Carnegie Mellon University.

COMPLY2019, a RegTech and compliance conference hosted at Tribeca 360 in New York City, kicks off on May 14 this year. COMPLY is known as one of the risk and compliance industry’s most important events, pulling together a roster of key risk and compliance professionals, analysts, regulators, innovators, RegTech investors, and regulatory law professionals from across the globe. The theme of COMPLY2019 is “Comply Together,” and a big part of complying together is an open discussion to advance the state of the art. Being innovators ourselves in the field of digital identities and their use in compliance, we had some ideas on four can’t-miss sessions. Here goes…

Building a Flywheel for Culture of Compliance and Collaboration

May 14, 11:15 a.m. – 12:00 p.m.

Speakers: Marybeth McManus, Senior VP, Business Process Controls, Fifth Third; Jeff Easley, AVP Risk and Compliance Solutions, USAA; Ed Marcheselli, Managing Director, Learning & Development, BAI

Compliance culture is a great topic to start the general sessions following the “Comply Together” theme. As a vendor of compliance solutions, clients often ask us how they should put together their internal team to achieve success. The answer, other than making sure there is sponsorship readily available — both in money and human resources — is to assemble an internal team that includes compliance officers, business owners, technical developers, and heads of operations. The success of a compliance program depends on how well integrated it is into the fabric of the business. Compliance officers pushing regulatory requirements into a business are less likely to succeed unless they collaborate with the rest of the teams; and the best way to generate agreement is by educating everyone on the team and collaborating with them on how to address the regulatory requirements within the context of the end user experience and the business model.

In our “Effective KYC in Digital Environments” guide, we spend the first part discussing how to inform the process from different perspectives and the different stakeholders. This is fundamental for success in KYC compliance.

RegTechs Accelerating the Ecosystem

May 14, 2:30 – 3:00 p.m.

Moderator: Jonathan Frieder, Principal Director, Accenture

Speakers: Brian Clark, Founder and CEO, Ascent RegTech; Kenneth Auspaker, Managing Director, Fintech, Evercore

Well, yes, technology is moving forward, fundamentally doing two things: improving detection and creating more efficient operations. Platforms that offer transaction monitoring automation are attempting to accomplish both, and the set of tools within it includes machine learning, artificial intelligence, natural language processing, robot process automation, and more. The compendium of one or more of these technologies into the model of automated transaction monitoring aims to achieve these two goals.

The IdentityMind RegTech platform specifically uses some of these technologies to achieve a more accurate detection and inform the analysis processes by presenting the right data in the right context, while dramatically reducing the number of false positives.

To learn more about the detection and analysis of suspicious activities in fraud prevention and anti-money laundering (AML), read the IdentityMind blog post on how to use Interquartile Range (IQR) to highlight risk.

Hear From the Regulators

May 15, 9:35 – 10.20 a.m.

Moderator: Kenvin Conroy, Partner, Foley Hoag LLP

Speakers: Haimera Workie, Senior Director, Head of Office of Emerging Regulatory Issues, FINRA; Sandyha Brown, Assistant Director, Division of Financial Practices, Federal Trade Commission; Paul Watkins, Assistant Director Office of Innovation, Consumer Financial Protection Bureau

You have to keep up-to-date with what the regulators are thinking. This panel of speakers will present three different angles on regulations and regulatory bodies. Regulators are always hinting at what’s coming next; for those of us who are compliance solution providers, it is essential to understand what lies ahead so we can direct our efforts and help our clients stay ahead of the curve.

One of the benefits of working with RegTech vendors like IdentityMind is that we help our clients stay ahead of all of the regulations that shape compliance. Recently, we were able to help many of our clients when OFAC added cryptocurrency addresses to the OFAC Specially Designated Nationals and Blocked Persons (SDN) List. Our clients were able to immediately abide by the new regulations set forth by OFAC through our Virtual Currency Risk Assessment (VCRA) solution. A big part of protecting our clients when these bitcoin addresses were added to the SDN List was making sure they weren’t taken by surprise by new OFAC regulations — something we could not have done without the VCRA compliance solution.

Learn more about VCRA, how the US government continues to monitor cryptocurrencies and bitcoin addresses, and how your firm can benefit from the most comprehensive tools for maintaining virtual currency compliance for banks, Fintechs, MSBs, exchanges, and financial institutions in our article, “Bitcoin on the OFAC List: How to Protect Yourself As a Bank, Crypto Exchange, or Wallet.”

Managing the Growing Weight of Compliance in the U.S. and Beyond

May 15, 1:55 – 2:30 p.m.

Moderator: Nirvana Farhadi, Global Head of Financial Services, RegTech Risk and Regulation, Hitachi Vantara

Speakers: Russell Perry, Founder & CEO, kompany; Jose Caldera, Chief Products and Marketing Officer, IdentityMind; Meredith Moss, CEO, Finomial; Anastasia Dokuchaeva, Head of Partnerships, ClauseMatch

I am thrilled to be participating on this panel. We’ll be discussing how our different technologies are solving issues that are part of day-to-day operational processes in compliance. We will also be discussing the challenges and strategies internal teams go through when making build-versus-buy decisions, and how to roll out innovative technologies in organizations where this process can be challenging otherwise. In the past, we’ve helped many organizations transition to automated transaction monitoring, especially in moving away from inefficient processes based on spreadsheets. A proper automated monitoring system, for both transactions and users, with the right case and queue management, auditing, and reporting saves banks and other financial institutions invaluable time and minimizes the risk that auditors and examiners could slap you with findings that are costly to remediate.

At IdentityMind, we know that as operations grow, the limitations of Excel become apparent very quickly — and we also know that spreadsheets don’t typically offer connectivity to know your customer (KYC) data and other tools that are essential to ensuring compliance. Learn how you can stop depending on systems that require you to repeatedly have to log in and out and that force you to transfer data from one system to another. Read “Kill Excel: Better Compliance Through RegTech” to understand the AML compliance solutions and transaction monitoring system that will get you away from the inefficient tedium of Excel and other spreadsheet tools that just don’t work for maintaining a compliant organization.

Will you be at COMPLY 2019? Meet the IdentityMind team and catch our CMO, Jose Caldera speaking at Managing the Growing Weight of Compliance in the U.S. and Beyond on May 15 at 1:55 p.m.