Meet Andy MacDonald

Andy is an executive director within the Forensic team of Deloitte’s Financial Advisory Services in Southeast Asia. He performs engagements for clients in a number of areas including Regulatory Advisory, Anti-Money Laundering (AML) and Economic & Trade Sanctions (ETS). Andy is a professional consultant with over ten years’ experience in Regulatory Compliance, AML and Fraud risk mitigation. His previous clients include many global financial institutions and local banks in Western, Central and Eastern Europe, the United States, Australia and South-East Asia.

Immediately prior to joining Deloitte in Singapore, Andy was Head of Financial Crime for Legal & General Group where he was responsible for the day-to-day management of the AML and Fraud risk as part of the Group Compliance department.

Previously Andy worked within the Business Intelligence team at Deloitte in London, helping clients manage Money Laundering and Fraud risks through technology and process improvements. During this time Andy delivered numerous projects for major European and International banking and telecommunications clients.

Andy’s current role involves:

• Forensic investigations in areas such as Money Laundering, Fraud, Corruption, and Sanctions across Southeast Asia
• Assisting diverse clients in the mitigation of Compliance risk (including Foreign Account Tax Compliance Act (FATCA), AML, Fraud, Corruption) through strategic consulting, technology solutions, and process / policy change
•  Developing Deloitte’s AML and Regulatory solutions in Singapore and South-East Asia
• Providing Regulatory training to key client personnel

Areas of specialization

• Regulatory compliance risk mitigation
• Technology solutions for AML and Fraud, particularly transaction monitoring systems, filtering software, and data warehousing solutions
• Strategic approaches to the holistic management, and centralized / de-centralized approaches to the mitigation of financial crime risk

Relevant recent experience

• Led an advisory engagement for a major European Banking Group to develop and implement a Target Operating Model (TOM) for their Investment Banking (IB) Regulatory Reporting function. The TOM is in the process of being expanded beyond the reporting and IB areas into a broader Regulatory Compliance remit.
• Led an investigation into potential breaches of Office of Foreign Asset Control (OFAC) sanctions at a major financial institution in Singapore, as part of a global engagement. Review of transactions and due diligence / contract documentation in support of counsel’s advice to bank.
• Led a review of compliance with broad range of regulatory issues for a major international banking group. Andy headed the team reviewing policy and procedures, testing processes, and interviewing staff for the Singapore branch of this banking firm.
• Investigation into breaches of OFAC sanctions at a major financial institution in Southeast Asia. Provision of recommendations for disclosure and management of the issue with regulators in the U.S. and locally. Recommendations for mitigation of the risk of breach in future.
• Responsibility for mitigation of Financial Crime risk at major U.K. insurer, including regulatory compliance and reporting, project initiation and management, policy and procedures, departmental management.
• Specification and selection of AML transaction monitoring solution for major European bank based in Hungary. Andy’s responsibilities included being the key subject matter expert of systems for regulatory compliance, project management, client and vendor relationship management.
• Specification, selection and planning for implementation of an AML transaction monitoring solution for a major European bank based in Belgium. Andy was responsible for providing guidance to the client on the selection process and subject matter expertise on the software vendors, technical solutions and regulatory requirements. He was also the project manager responsible for delivery of the project deliverables and management of the project team.

Professional and academic qualifications

• Mansfield College, University of Oxford, BA (Hons), Philosophy, Politics and Economics
• Certified project management practitioner

Professional bodies and organizations

• Member of the Association of Certified Anti-Money Laundering Specialists (ACAMS)
• Member of the Board of ACAMS Singapore
• Member of Advisory Panel to the Australian Compliance Institute (ACI), Singapore

Publications and public speaking

• Andy is regularly published in the (Singapore) Business Times and other regional newspapers and publications, writing on subjects associated with money laundering, fraud, and terrorist financing.
• Andy is a regular speaker on the conference and seminar circuit, having spoken at events in Singapore, Kuala Lumpur, Manila, Jakarta, Hong Kong, and in Western and Eastern Europe.

As used in this document, “Deloitte” means Deloitte Tax LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.