The Company
Industry: Financial Services
Entity Type: Privately Held
Operating Region: United States
Size: $1.5B Revenue
The PROBLEM
Following a regulatory Consent Order related to BSA and AML/CFT program deficiencies, the bank faced increased pressure to strengthen its compliance infrastructure and demonstrate meaningful progress to regulators. Leadership needed an experienced Interim VP of Compliance to enhance oversight, build a more robust Compliance Management System (CMS), and improve regulatory processes across the organization.
The Solution
McDermott + Bull Interim Leaders placed a seasoned Interim VP of Compliance with deep expertise in banking compliance, risk management, and regulatory remediation. Stepping into a rapidly evolving environment, the interim leader quickly assessed existing gaps, strengthened compliance policies and procedures, developed critical risk assessments, and helped build the framework necessary to support long-term regulatory readiness.
The RESULT
Over the course of the engagement, the organization significantly strengthened its compliance posture, improved governance practices, and established a stronger foundation for future growth. By combining strategic program development with practical process improvements, the interim leader successfully delivered all CMS-related objectives while helping the bank move forward with greater confidence and accountability.
Enhanced Risk Assessment Framework
Identified and remediated gaps involving 2 regulatory requirements that were missing from the bank’s existing compliance risk assessment process.
Streamlined Compliance Training Program
Revamped compliance training content and eliminated 10 redundant training courses, improving efficiency and the employee experience across the organization.
Strengthened Compliance Governance
Developed a comprehensive Merchant Services risk assessment, prepared the 2025 CRA Annual Results Compliance Memorandum, and implemented key policy updates to support regulatory readiness and oversight.
Julie Francis
Managing Director, McDermott + Bull Interim Leaders
jfrancis@mbexec.com
Julie Francis serves as a Managing Director for McDermott + Bull Interim Leaders, where she identifies and secures highly skilled executives to address client companies’ critical business challenges, provide interim leadership, and oversee special projects. She works with executive leadership at middle-market and enterprise-level companies as well as with investment banks and private equity groups to improve operational and financial performance.