Joseph William Pak
Lead Compliance Officer @Wells Fargo
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WORK HISTORY
Lead Compliance Officer @Wells Fargo
Lead the development and execution of comprehensive BSA/AML, sanctions, compliance programs for Wells Fargo businesses, ensuring alignment with regulatory requirements and enterprise policies. Conduct Risk and Control Self-Assessments (RCSA), enhancing internal controls, and mitigating financial crime risks. Collaborate cross-functionally, and lead teams to uphold organizational integrity and compliance standards.• Financial Crimes Compliance Leadership: Spearhead the design and execution of the financial crimes compliance framework across WIM, ensuring alignment with enterprise policies and regulatory requirements.• Risk and Control Self-Assessment (RCSA): Lead the RCSA process for WIM, identifying key risks and evaluating the effectiveness of existing controls, in line with Wells Fargo’s Governance, Risk, and Compliance (GRC) framework.• Regulatory Compliance Oversight: Provide expert guidance on BSA/AML, OFAC, and other pertinent regulations, ensuring WIM’s adherence to evolving legal standards and internal policies.• Cross-Functional Collaboration: Partner with key stakeholders, including Legal, Audit, Risk, and Operations, to foster a cohesive approach to compliance and risk management.• Regulatory Engagement: Lead preparations for regulatory examinations and audits, effectively communicating WIM’s compliance posture and addressing inquiries from bodies such as the SEC, FINRA, and OCC.• Program Development: Oversee the enhancement of customer due diligence (CDD), enhanced due diligence (EDD), and transaction monitoring processes, improving detection and reporting of suspicious activities.• Team Leadership: Mentor and develop a team of compliance professionals, promoting a culture of integrity, accountability, and continuous improvement within the organization.• Governance & Reporting: Develop and present comprehensive compliance reports to senior management and the Board, highlighting key risk indicators and compliance metrics.
EDUCATION
The Ohio State University
Bachelor of Science - Business Adminstration, Accounting and Finance
ABOUT JOSEPH WILLIAM PAK
Goal-oriented and result driven compliance executive with more than 20+ years of experience in the financial services industry, with unique expertise in managing regulatory and compliance risks across multiple aspects of financial services platforms: broker dealer (institutional and retail), asset management (RIAs and RICs), OTC derivatives, fiduciary (trust and retirement), and commercial banking businesses. Proven track record for developing strategic prowess and business acumen to business/compliance transformation in growth environments and achieving operational excellence to execute against regulatory priorities. Exemplifies strong communication and analytical skills with proven ability to lead and motivate multi-organizational and distributed teams in achieving challenging goals. Notable regulatory knowledge: SEC (Investment Company and Investment Advisers Act), FINRA, MSRB, ERISA, FRB, OCC.
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