Keith Furst is the Managing Director of Data Derivatives which is a consulting firm focused on implementing, fine tuning, and validating financial crime systems. He has years of extensive consulting experience for a wide variety of financial institutions focusing on the documentation, design, model development, implementation, calibration, and validation of financial crime systems. He has broad exposure and hands-on involvement in all phases of the project life cycle for transaction monitoring, know your customer (KYC), customer due diligence (CDD), sanctions, trade compliance, and anti-fraud systems. He has worked for banks in New York City that have been under extreme regulatory scrutiny and helped guide them through the complexity of transforming their compliance system infrastructure to meet industry best practices and guidelines.
He also optimized financial crime detection models and recommended tactical configuration changes to thresholds and parameters by using data mining and other statistical techniques. This reduced the false positive ratio, or bad alerts, by 15% which saved the financial institution time and money. On multiple project engagements he has developed a stellar reputation as the “go-to” person when mission critical defects or failures emerge, as he has proven his ability to be one of the few individuals who can lead the effort to figure out the problem quickly, drive executive buy-in for the proposed solution, execute the plan, and validate the final results.
Besides his hands-on consulting experience he also has spoken at industry conferences, private executive dinners, and on live video webinars around the world including in London, Toronto, New York, Paris, and Singapore. He has trained other financial crime professionals and developed a majority of the content for a sanctions screening module which is part of the Association of Certified Anti-Money Laundering Specialists (ACAMS) sanctions specialist program. He also writes and has been published in the American Banker, The Asian Banker, the Association of Certified Financial Crime Specialists (ACFCS), and The South China Morning Post on a diverse range of intricate topics such as financial crime, artificial intelligence (AI), and risk management.
Keith holds a master's degree in Business Administration (MBA) from Baruch's Zicklin School of Business in New York City. He received his Bachelor's degree in Philosophy from Queens College in New York City.
He is also the co-author of a new book - AI Supremacy - which can be purchased here exclusively on Amazon.
Please visit the AI Supremacy website for more information.