ACAMS has appointed Jen Calvery, Group Head of Financial Crime Risk and Compliance at HSBC and former Director of the U.S. Financial Crimes Enforcement Network (FinCEN), to its board of directors.
The appointment adds an executive with experience spanning federal law enforcement, financial regulation, and financial crime compliance at a major global bank. It comes as ACAMS expands its efforts to help financial institutions address emerging financial crime risks associated with artificial intelligence and increasingly sophisticated criminal activity.
Calvery currently leads HSBC’s Financial Crime Risk and Compliance organization, overseeing the bank’s strategy to prevent and detect financial crime.
Her responsibilities include supporting the adoption of new technology and developing the professional capabilities required to address fraud, money laundering, and other financial crime risks.
She also serves as a Non-Executive Director of HSBC Private Bank, with responsibilities involving governance, risk management, and regulatory and compliance outcomes.
Before joining HSBC, Calvery served as Director of FinCEN, the U.S. Treasury bureau responsible for combating money laundering and other financial crimes.
In that position, she gained experience working on the regulatory and policy requirements affecting financial institutions and other businesses subject to anti-money laundering obligations.
Earlier in her career, she spent 15 years at the U.S. Department of Justice.
Her government experience included serving as Chief of the Asset Forfeiture and Money Laundering Section, as well as prosecutorial work in fraud and organized crime.
Her combined background provides experience from several perspectives within the financial crime prevention system, including enforcement, regulation, and compliance within financial institutions.
At ACAMS, Calvery will contribute to the organization’s strategy as it develops training, certification, and intelligence resources for anti-financial crime professionals.
The appointment comes as artificial intelligence creates new challenges and opportunities for financial crime compliance.
Financial institutions are evaluating how to use emerging technologies to strengthen transaction monitoring, investigate suspicious activity, and improve the effectiveness of their compliance programs.
At the same time, criminals are adopting technologies that can increase the sophistication and scale of fraud and other illicit activity.
ACAMS is seeking to prepare its members for these developments through updated professional education, industry collaboration, and access to specialized intelligence.
Calvery joins a board that already includes Bill Fox, another former FinCEN director and former Global Head of Financial Crimes at Bank of America.
Their combined experience provides ACAMS with additional insight into the intersection of financial regulation, law enforcement, and private-sector compliance operations.
The appointment also follows ACAMS’ recent addition of four senior financial crime executives from Citi, TD Bank, Generali, and Truist to its Advisory Board.
Those appointments expand the range of industry perspectives available to the organization as it develops its training and professional development strategy.
ACAMS provides certification, education, and intelligence services for professionals working across anti-money laundering, fraud prevention, sanctions compliance, and other financial crime disciplines.
The organization reports more than 120,000 members across over 200 countries and territories, supported by more than 65 chapters.
ACAMS also states that its services are used by 70% of the world’s leading banks, as well as government agencies, law enforcement organizations, and financial technology companies.
Calvery’s appointment strengthens its board-level expertise as the organization continues expanding its resources for the global anti-financial crime community.
KEY QUOTES:
“Few leaders have shaped the fight against financial crime from as many vantage points as Jen. Her depth of experience as a prosecutor, regulator, and practitioner has distinguished her as a leader amongst leaders across the global AFC community.”
Neil Sternthal, CEO Of ACAMS
“I am delighted to join the Board at this pivotal moment and support ACAMS and its leadership as they equip the next generation of financial crime practitioners to harness innovation responsibly and stay ahead of increasingly sophisticated threats.”
Jen Calvery, Group Head Of Financial Crime Risk And Compliance At HSBC
“She understands the priorities of regulators, the realities facing financial institutions, and the opportunities that emerging technologies create for the profession. That breadth of experience will make her a valuable voice on our Board as ACAMS helps shape the future of AFC.”
Harper Mates, Chairman Of The Board Of Directors At ACAMS
