The Company
Industry: Financial Services
Entity Type: Privately Held
Operating Region: United States
Size: $1.5B Revenue
The PROBLEM
Following identified deficiencies in its BSA compliance and AML/CFT program, the bank entered into a Consent Order jointly issued by state and federal regulators. The organization needed additional compliance leadership to support regulatory remediation, strengthen its compliance management system, and improve oversight across audit and regulatory operations. At the same time, staffing changes and gaps in historical documentation created additional challenges around audit management and execution.
The Solution
McDermott + Bull Interim Leaders placed an experienced Interim VP of Compliance with more than 15 years of compliance and risk management experience. The interim leader supported audit management, regulatory reviews, risk assessments, and policy and procedure development while coordinating across business units and external auditors. As the engagement evolved, the interim leader also helped recover critical compliance documentation, manage audit requirements, and establish greater accountability across lines of business.
The RESULT
The interim leader successfully supported the completion of a mandated regulatory audit while advancing several broader compliance initiatives. By conducting risk assessments based on prior audit findings, strengthening regulatory review processes, and supporting the development of policies and procedures, the engagement helped establish greater structure around audit management and positioned the organization to continue advancing its broader compliance remediation efforts.
Completed CRITICAL Regulatory Audit
Successfully supported the completion of a mandated lead audit, coordinating documentation, external auditors, and cross-functional requirements through completion.
Established 2026 Risk-Based Audit PLAN
Translated prior-year audit findings into risk assessments that established the appropriate audit cadence across business units for 2026.
Strengthened ENTERPRISE AUDIT ACCOUNTABILITY
Improved coordination across lines of business, regulatory reviews, and external auditors to drive greater ownership and accountability for audit requirements.
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.