Daily News: March 20, 2015

Former GE Capital AML Leader Joins IPSA

IPSA International announced Gary Ferrari has joined as managing director for the firm’s Anti-Money Laundering consulting practice in New York.

Ferrari comes with more than20 years of regulatory compliance experience in building and assessing compliance programs and remediating regulatory enforcement actions. Recent roles include core compliance leader at GE Capital and senior VP anti-money laundering for global consumer cards at Citibank. Formerly, Ferrari served 16 years with American Express, where he originated the regulatory compliance program and played an integral role in its global implementation throughout many of its lines of business. Ferrari is credited with initiating the AML compliance program for American Express Travel Related Services.

In this role, Ferrari is responsible for leading AML compliance, working with multi-national banks and money services businesses to review, test, validate or remediate parts or all of their AMLTrade Finance compliance programs.

Ferrari has led or overseen multiple compliance programs in the U.S. and around the world: in credit cards, retail, private and correspondent banking, commercial lending, money transfer services and other financial services.

Dan Wachtler, IPSA International’s CEO, states, “I first met Gary at American Express as he was our client. I appreciated his approach to partnering with us and was always impressed with his subject matter expertise as well. IPSA constantly strives to understand and respect the different perspectives and responsibilities that can exist between client and consultant. Gary brings the client perspective to our firm and has the experience and leadership ability we were looking for as we continue to grow our firm and the AML practice. I am thrilled to have him on the team.”

Ferrari adds, “AML Compliance Officers and their firms now face higher stakes as a result of added regulation and amped up enforcement actions and penalties. Challenges to meet more of our clients’ needs are driving IPSA’s transformation into a full service AML consulting firm through delivery of added capabilities and skill sets. My experience in building world class compliance and AML programs at global financial institutions has prepared me to lead IPSA’s AML consulting team in providing clients with the subject matter expertise, risk mitigation, and added value in all facets of AMLTF that they require.”

IPSAIPSA International, a root9B Technologies, company, is a regulatory risk mitigation firm delivering advisory and investigative services globally.