Felipe Cruz
Business graduate from University of Puerto Rico, with JD from Inter American Law School, and Master in International Law from New York University. Director at FTI Consulting.
| Headline: | Entrepreneur |
| Groups: | Enterprize 2008 [INACTIVE], Enterprize 2009 [INACTIVE], [INACTIVE] EnterPRize 2010 |
| Interested in: | Brainstorming, Finding business partners, Finding cofounders, Finding team mates, Meeting new people, Professional opportunities, Promoting my startups, Recruiting for my startup |
| Schools: | New York University |
WORK EXPERIENCE
| Employer: | FTI Consulting – Coral Gables, FL |
| Position: | Director |
| Time period: | December 2007 - August 2008 |
| Description: | Manage the Securities and BSA/AML practice for Miami and the Caribbean. Participated in investigations requested by corporate clients regarding key executives and due diligence regarding the possible acquisition of other corporations.
Key Accomplishments: • Helped the firm on marketing the brand as a premier consulting firm by participating as speaker in compliance conferences as well as being in charge of the corporate booth and make presentations to conference participants. • Member of an expert team assisting a major New York bank comply with a remediation effort in relation with a BSA/AML investigation initiated by the US Government. As a result, the bank succeeded in signing a non-prosecuting agreement which saved the institution of steep penalties and damage to its reputation. • In charge of a BSA/AML compliance review for a large Venezuelan bank whose president was allegedly implied in conjunction with the institution by an important BSA/AML compliance database as being implicated in certain illegal transactions. As a result of those allegations, commercial and personal accounts of both the bank and its president were closed by American banks. The report prepared proved the allegations were not true and reputation was restored. |
| Employer: | Navigant Consulting |
| Position: | Associate Director |
| Time period: | June 2007 - November 2007 |
| Description: | Responsible for running the Securities and BSA/AML practice in Puerto Rico and developing and marketing the firm’s different consulting practices there. Participated in an investment adviser compliance review in the U.S.
Key Accomplishment: • As part of the AML compliance review team assisted a major Mid-West investment adviser to comply with the requirements of a SEC deficiency letter and helped the investment adviser establish enhanced internal controls. As a result of the work done, the investment adviser avoided penalties and fines from the SEC. • As the leader of a BSA/AML expert team assisted a large broker-dealer in Puerto Rico reviewing its policies and procedures and internal controls as required by the internal auditors of the institution. The auditors reported certain deficiencies and gaps in its BSA/AML policies and procedures as well as pointing out that the policies were not being followed. Based on the recommendation presented, the institution was able to correct deficiencies and be in full compliance and enhanced its internal controls. |
| Employer: | Commissioner of Financial Institutions – San Juan, PR |
| Position: | Director |
| Time period: | March 1993 - May 2007 |
| Description: | Administrator of the Securities Division supervising a team of 12 employees. Oversee the compliance and regulatory program for the security industry in Puerto Rico for 15 years as well as when appropriate, granting no-action letters and ruling requested to the office.
Key Accomplishment: • Succeeded in developing modernization of the systems that lead to drastically reduce the time required to process licenses and permits to sell mutual funds and securities in Puerto Rico which resulted in reduction of costs and personnel. • As liaison with the federal and other states securities regulators, took part in the investigation and prosecution of cases related to the securities industry that resulted on modifying the way they offer and sell securities to the investment public as well as imposing fines which resulted in obtaining millions of dollars for the office. • Participated in the legal team of the office that facilitated the establishment of the local mutual fund industry starting in 1993. Today is an industry of approximately $10 billions in assets which generates well remunerated jobs in Puerto Rico. |
| Employer: | Self-Employed Attorney – San Juan, PR |
| Position: | Lawyer |
| Time period: | September 1990 - February 1993 |
| Description: | General practice of the law, including planning and development of appropriate strategies for corporate restructuring.
Key Accomplishment: • Advised and assisted clients who desired to develop commercial real estate properties and prepared the entire legal framework for the business. |
| Employer: | Banco De Ponce – San Juan, PR |
| Position: | Vice-President, Trust Division |
| Time period: | April 1989 - August 1990 |
| Description: | Supervised trust services offered by the bank and develop and coordinated all securities brokerage services offered by the institution.
Key Accomplishment: • As legal counsel for the bank oversee the bond underwriting process to ascertain that it complied with all laws and regulations. This underwriting process helped the Government of Puerto Rico raise billions of dollars for public works. |
| Employer: | Drexel Burnham Lambert – San Juan, PR |
| Position: | Vice-President |
| Time period: | September 1982 - March 1989 |
| Description: | Collaborate with clients to assess individual financial situations and develop strategic financial planning solutions, which helped to increase client’s wealth over time. Oversee securities transactions, funds transfers, margin accounts, and option trades.
Key Accomplishment: • Developed a network of clients who bought Puerto Rico fixed income securities that helped private corporations and the Government of Puerto Rico raise millions of dollars which helped the local economy. |
EDUCATION
| University: | New York University |
| Degree: | Master in International Law |
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