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Groups Members: Chun-Lu Chuang, Dana Portley, Dora Chen, Eduardo Vieyra, Kara Schmitz, Hsing Fang Wei.

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Presentation on theme: "Groups Members: Chun-Lu Chuang, Dana Portley, Dora Chen, Eduardo Vieyra, Kara Schmitz, Hsing Fang Wei."— Presentation transcript:

1 Groups Members: Chun-Lu Chuang, Dana Portley, Dora Chen, Eduardo Vieyra, Kara Schmitz, Hsing Fang Wei

2 Introduction of the team members - Dora BBVA Background – Dana Development History – Eduardo Company Analysis – Chun-Lu Industry Analysis – Hsing Fang Compliance Department Value Chain - Dora Recommendation – Kara

3 Money Laundering Definition Three processes of money laundering 1. From illegal to legal 2. Many transactions 3. Finance more illegal activities Prevention

4 A subsidiary of BBVA, the eighth largest bank in the world. Major clientele in Mexico and South America. Established compliance department and anti-money laundering policies

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6 BBVA Investments, Inc. was incorporated in the United States in 1993 as a brokerage firm. It is regulated by the Securities and Exchange Commission (SEC). BBVA Investments is a member of the Financial Industry Regulatory Authority (FINRA) The Company is located in Houston, Texas, in "The Galleria" Financial Center and has branches in Laredo, San Antonio, El Paso McAllen, and Tucson (to open in 2009). BBVA Investments Inc. has specialized in providing brokerage services to international clients

7 The anti money laundering systems in BBVA Investments consists of two systems- OFAC and Assist. OFAC is a proprietary system developed by the Information Technology department in BBVA Investments, and Assist was purchased from a third party vendor. OFAC: This system comply with The Office of Foreign Assets Control regulations of the US Department of the Treasury administers. ASSIST: Americas Software - TranSactIonS MoniToring- compliance software tool that allows a user to analyze suspicious activity through account and transaction trend monitoring.

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11 Strong ethical and compliance standard since ASSIST and OFAC are flexible enough so that it allows the IT department to perform some customization. The OFAC system was developed by BBVA.

12 Not fully automated. May out grow the company needs.

13 Assist: processing a large number of transactions. OFAC: preventing people with poor reputation from laundering money. No major system crash.

14 It is really hard to keep the systems and computer equipment up-to-date. Technology keeps changing. Terrorists are always trying to find a new way to launder money.

15 Operational Management level. First line of defense against money laundering

16 Much more cost effective using compliance information system OFAC security system : 1. minimizes human error 2. more convenient and saves time ASSIST security system: 1. user-friendly and easy to navigate around 2. Keep current with newest regulation

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18 Clients for BBVA Investment in South America & Mexico. New entrants are a threatening force for BBVA. Anti-Money Laundering System- Assist & OFAC.

19 Assist: Assist is for detecting transactions that deviate from the client profiles. OFAC: OFAC System prevents BBVA Investments from conducting business with the individuals on the governments and BBVA Groups lists.

20 UBS Investment Bank: Three global core businesses are included wealth management, asset management and investment banking, and securities trading Santander Bank: International financial services. It is also engaged globally in wholesale banking means of payment, asset management, insurance and private banking.

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22 Michael Porter invented the model in Using manufacturing firms business processes. Primary activities - directly add value to the firm. Secondary activities - support and optimize the primary activities.

23 Steps and Processes

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25 Training needs. Investigate system from the acquired firm Enterprise system The proposed system would include: Customer Identification Program, OFAC system, Customer Due Diligence Program and Suspicious Activity Report system.

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