EVP Head of Compliance & Operational Risk, Financial Institutions Group
Michelle L. Neufeld is the head of Compliance and Operational Risk for Wells Fargo’s Financial Institutions Group (FIG), which provides financial services to and builds long-term relationships with banks and non-bank financial institutions globally. In her role, Michelle is responsible for the global first-line-of-defense risk awareness and management across all FIG businesses. She leads all first-line activities related to financial crimes (including risk underwriting), regulatory compliance, and operational risk, working closely with other Wells Fargo risk teams, auditors, and regulators.
Michelle has more than 20 years of global banking, securities, and brokerage experience. Before joining Wells Fargo, she most recently served as executive vice president and chief Bank Secrecy Act/Anti-Money Laundering (BSA/AML) officer for Banc of California. There she developed and implemented the administration, vision, and strategy of all aspects of the BSA Compliance Program.
Prior to joining Banc of California, Michelle held multiple roles at GE Capital, including global head of Financial Crimes Compliance and chief compliance officer for both the Americas and Global Commercial Real Estate. Before joining GE Capital, Michelle led Bank of America’s AML advisory function in North America. She also served as the AML officer and associate general counsel for the global investment bank at JPMorgan Chase and general counsel and compliance officer at The Reserve Funds. Earlier in her career, she was a staff attorney in the National Association of Securities Dealers’ Department of Arbitration and Mediation.
Michelle actively participates in government, regulatory, law enforcement, and industry trade associations and forums. In addition, she participates in the Financial Action Task Force’s public/private sector consultative initiative. She is a past member of BSA Advisory Group and a past co-chair of the Security Industry and Financial Markets Association’s Financial Crimes Compliance Committee.
Michelle holds a J.D. from New York Law School and a B.A. from the University of Miami.
De-risking continues to plague banks in Latin America and the Caribbean with many being one correspondent away from being shut out of the U.S. financial system. We will here from both correspondent and respondent banks on the challenges and keys to success in establishing and maintaining a correspondent relationship.