Mr. Phipps has conducted numerous fraud reviews ranging from large bank mortgage fraud, operational risk controls, commercial loan fraud, to insider transaction activities.  As large bank fraud specialist in OCC’s Special Supervision Division, he was the primary fraud contact for a portfolio of large banks in the north and southeast regions of the U.S., providing guidance and support on major fraud issues.  Mr. Phipps also served as an expert witness for the U.S. government in a criminal tax fraud case.  Based on the strength of his sworn oral testimony in federal court, he helped the prosecution win a conviction on all counts.

Prior to joining A&M, Mr. Phipps served as BSA/AML team leader at two of the largest banking companies in the U.S.  His responsibilities included critical evaluation of anti-money laundering systems, controls, management and processes on a global level, including reviews in London and Toronto.  He focused on high profile / complex AML and anti-terrorist financing reviews, foreign correspondent bank accounts, senior foreign political figures, economic sanctions (Office of Foreign Asset Controls), wire transfer activities and trade finance. 

Mr. Phipps worked closely with multiple agencies on highly complex AML reviews including the OCC Enforcement Division, Federal Reserve, U.S. Department of Justice, FinCEN, and the UK Financial Services Authority.  Having been appointed to OCC’s large bank compliance network BSA/AML sub-group, Mr. Phipps served as a resource exploring anti-money laundering issues and industry practices for consideration by OCC Compliance Policy.  As a member of the Money Laundering Task Force for the DOJ – Western District of NC, Mr. Phipps interacted with state, local and federal law enforcement agencies in reviewing and vetting suspicious activity report trends to direct financial crime investigations.

Mr. Phipps earned a bachelor’s degree in marketing and management from Hampton University and a diploma from the Southwestern Graduate School of Banking at Southern Methodist University.