Bank of China U.S.A hosted the inaugural meeting of the Association of Certified Sanctions Specialists – New York Chapter

On February 28th, Bank of China U.S.A (BOC U.S.A.) hosted the inaugural meeting of the Association of Certified Sanctions Specialists – New York Chapter (ACSS).

ACSS is a professional membership body for global sanctions professionals and was formed to advance sanctions compliance by supporting the professional development of leading compliance experts and their respective organizations. Financial institutions, international corporations, law firms, consulting firms, governments, trades, and businesses depend on the ACSS to assist them with their sanctions compliance needs. The “Certified Sanctions Specialist,” or CSS mark is an earned distinction for individuals who have had full sanctions compliance training.

The event drew over 90 participants across financial institutions, regulators, and various related industries and was driven by the “Let’s Talk Russia” topic, providing attendees with commentary and discussion on geopolitical tension that has impacted global markets. 

Amongst these participants was Salvatore Scotto, Senior Vice President of Legal and Compliance at BOC U.S.A. Since 2017, Mr. Scotto has served as Head of Sanctions and brings a breadth of knowledge on both domestic and international compliance considerations, highlighting our expertise on compliance matters.

The event’s two keynote speakers were Chip Poncy, Global Head of Financial Integrity and Board Member at K2 Integrity, and Eric Lober, Principal of Cyber, Risk, and Regulatory Practice at PWC. Prior to K2 Integrity, Mr. Poncy was a Senior Advisor at the U.S. Department of the Treasury and was the Inaugural Director of the Office of Strategic Policy for Terrorist Financing and Financial Crime. Prior to PWC, Mr. Lober was a senior advisor to the Under Secretary for Terrorism and Financial Intelligence (TFI) at the U.S. Department of the Treasury. Both individuals shared expert commentary on today’s geopolitical landscape.

Additional presentations were given by Mark Nelhla, Executive Vice President at KHARON, and David Tannenbaum, Director of Compliance Services at Blackstone. Mr. Nelha served as a Sanctions Officer at the Department of the Treasury Office of Foreign Assets Control and as an advisor to the Secretary of Defense at the U.S. Department of Defense. Prior to Blackstone, Mr. Tannenbaum was a Sanctions Compliance Officer at the U.S. Department of the Treasury, Office of Foreign Assets Control.

The event encapsulates BOC U.S.A.’s commitment to meeting regulatory and sanctions compliance challenges amid an ever-changing geopolitical landscape.