Joseph Boccio

Senior Managing Director

New York

Joseph Boccio is a senior managing director in K2 Integrity’s Financial Crimes Compliance practice, based in New York. He has more than 25 years of service in the financial services industry, with an acclaimed track record in anti-money laundering (AML) compliance, internal audits, sales practice examinations, and financial analysis/reporting. Joseph helps financial institutions ranging from correspondent banks to prepaid card providers to adhere to regulatory consent orders that mandate transaction monitoring lookbacks. Leading large teams that conduct these transactional historical reviews and investigations, Joseph diligently oversees the associated scenario development, user acceptance testing (UAT), investigative protocols, and engagement economics.

Prior to joining K2 Integrity, Joseph was a senior manager at Ernst & Young (EY) within its Financial Services Office (FSO). During his tenure at EY, he was a project manager for a transaction lookback and a Know Your Customer (KYC) remediation for a major financial institution. This work included case analysis to identify the significant counterparties, the potential economic purpose, and transaction patterns or anomalies warranting additional scrutiny. He also facilitated on-site AML training sessions for junior team members, drafted engagement team procedures, and handled quality assurance for completed cases.

While at EY, Joseph led and conducted internal AML audits. This encompassed testing key areas such as transaction monitoring, suspicious activity report (SAR) writing, client on-boarding, and sanctions screening. Additionally, Joseph performed an AML gap analysis for a client’s policies and procedures and was a member of EY’s FSO Advisory Onboarding Team. His responsibilities included facilitating a first project expectations class attended by all experienced new hires and moderating focus group sessions with new hires. He was also tasked with developing, managing, and implementing multiple initiatives to drive consistency across the advisory practice.

Joseph also held key positions at Navigant Consulting (formerly Daylight Forensic and Advisory LLC), where he directed teams performing AML services, including transaction lookbacks, SAR remediation, and project management on behalf of large financial institutions. He also served as a divisional compliance manager at Smith Barney, as a sales practice examiner at the New York Stock Exchange, and as a compliance and finance professional at Wachovia/Prudential Securities.

Joseph received an M.B.A. in executive management and a B.S. in finance from St. John’s University. He is a Certified Anti-Money Laundering Specialist (CAMS).

Representative Matters

Currently leading a lookback mandated by the New York Department of Financial Services (NYDFS) and U.S. Federal Reserve Board for the New York dollar-clearing branch of a foreign financial institution. This lookback includes 1.8 million correspondent banking transactions that cover a span of 3.5 years of activity.

Led an FDIC-mandated lookback for the United States’ largest prepaid card provider in connection with a consent order. As part of the lookback, Joe helped lead the extract, transform, and load process, which steered the ingestion of more than 1.5 billion transactions into a case management system. He helped to develop and test scenarios that would be utilized for case generation. He served as a quality assurance reviewer, and took the lead in the preparation of the final report submitted to the bank and regulator. The final report, which highlighted the preparation, process, investigations, reporting, and findings from nearly two years of collaborative efforts from the K2 Integrity team, contained the key findings and SAR recommendations based on the lookback.

Has conducted independent reviews of institutions’ transaction monitoring systems, including an analysis of the production environment and existing rules within the system to ascertain whether the rules identify money laundering risk related to high-risk customers, accounts, products, and transactions.

Assisted with Bank Secrecy Act (BSA)/AML procedure reviews, including but not limited to New York branch offices of foreign banks and entities involved with crypto-currency.

Advised a financial services company interested in launching one of the first Bitcoin exchanges on relevant AML policies and procedures, and assisted the client in drafting key policies in AML compliance with applicable federal and state banking requirements, enabling them to submit a comprehensive BSA/AML program to a New York state regulator.