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Laura Goldzung

Getting to Know Anti-Money Laundering Expert            Laura Goldzung

In this "Getting to Know" post, we spoke with TrustedPeer Expert Laura Goldzung. Laura is the founder and president of AML Audit Services, and she has more than 30 years of financial industry experience including AML compliance and training, and securities firm operations and management.

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  1. Why did you decide to join TrustedPeer?
    The opportunity to join TrustedPeer presented itself through a colleague who is an adviser to the board. I thought it was a very unique opportunity because, as a service provider and consultant in AML, it’s hard to find the time to do develop consulting opportunities and get exposure to potential clients. TrustedPeer presented the prospect for greater exposure and added value to my practice.

  2. What are you most excited about in Anti Money Laundering right now?
    There are still many issues facing financial institutions with respect to AML that don’t seem to be going away. There is still quite a bit of challenge in maintaining required compliance. What I’m most excited about is that more and more people are getting into the field, and more of the financial institutions are getting better educated about AML compliance. It’s exciting to work with unique, emerging companies and platforms. It’s always a new day in AML.

  3. How has technology changed AML?
    Technology enables AML compliance, but it’s not the only enabler. A hybrid activity between automation, technology, and human skill is required. You can’t replace human skill with technology. You need to have the competencies to leverage what the technology tools and the advances in technology bring to the practice. For example, if you’re a large bank, you likely have many tools you use to monitor transactions and there are different facets to each transaction. There are many smaller companies that don’t use AML systems and instead use manual processes. Technology is exciting and enabling, but it requires human intervention.

  4. Can you tell us about an “aha” moment in your career?
    My first aha moment was when a new client called me again for new services. Beyond that, my “aha” moments manifest as more of a sustained stream of learning for me and for my client base. I do a lot of teaching, and there are plenty of moments when something just clicks for those audiences.

  5. Where do you predict the future of AML going?
    It’s just going to get bigger and bigger. There’s opportunity for an organic expansion in that there are new industry sectors that will be subject to AML compliance. Some already perform it as a best practice, and there are a couple of new sectors that will be facing a requirement to implement a program. There are also new and emerging products like Bitcoin and emerging issues such as marijuana dispensaries that come with a lot of controversy. There are many payment processor companies who now include AML compliance as a best practice because their bank and other partners may feel more comfortable if they have a program in place. All in all, AML is evolving rapidly.

To read more about Laura’s area of expertise or to book an Expert Session, visit her Meet The Expert page on our site.

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Philip Bouchard

How to Build a Special Forces Business Team

Businesses have been discovering good advice in military experience, as this recent LinkedIn article on using time wisely shows.  One of the most important things I learned from my own Navy SEAL training was how to deal with and overcome adversity.  It is a quality that I find crucial in the work I do now helping start-ups and other companies improve and grow.

Here are three lessons I've taken from my Navy SEAL training that can help businesses become more successful:

1.  Develop Resiliency and Nimbleness :  In a Navy SEAL team, all the members develop mental toughness so the team won’t collapse under harsh challenges.  You know your team, have the experience to know what to do, and most importantly, know how to convert the unexpected to your advantage.  In the recent Navy SEAL mission to capture Osama bin Laden, when one of the two helicopters became inoperational, the team adjusted its plan on the fly and executed it successfully.  Today’s successful businesses should be just as nimble, adjusting to new technologies or shifts in the economic terrain.

2.  Choose the Right Expert to Lead :  Each SEAL team member is a specialist. For example, I was trained as a sniper.  My class also had experts in explosives, rear security, weapons, parachuting, and other specialties.  If an operation needed your expertise in front, then you were the de-facto leader of the operation.  Any mission that focused on my expertise meant the team would look to me for leadership.  Similarly, companies should trust the person with the most expertise for the project and empower that person to lead the team.

3.  Augment the Team :  Not every company can have its own in-house SEAL team.  But a business can reach out to specialists to address challenging problems--and that can be a game changer.  If something has gone wrong in any area, be it sales, marketing, manufacturing or production, the right expert can come in and say, “I’ve got this; I’ve been through this many times before. I’m going to help you, and your business will come out better than before.”  Recruiting specialized knowledge on occasion can make a company more responsive to changing markets and ensure the growth of the business.

Navy SEAL teams excel at executing successful missions by undergoing rigorous training to deploy their expertise in real world situations.  I believe that companies of all kinds can benefit by applying these principles to their businesses as well.

Philip Bouchard
CEO – TrustedPeer.com
Former SEAL Team 2
BUD/S Class 99
 
If you need consulting on Business Development, contact TrustedPeer Expert and CEO Philip Bouchard. 
 
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