AML Conversations Banking on Change: Lisa Arquette on Risk, Regulation, and Resilience
Sep 2, 2025
Lisa Arquette, recently retired Deputy Director of Operational Risk at the FDIC, shares her extensive insights into financial regulation and the dynamics of risk management. She discusses the evolution of banking through crises like the oil crisis and 2008 meltdown. The conversation dives into the Corporate Transparency Act, the balance between AML compliance and reputational risks, and the critical need for improved financial access for humanitarian organizations. Lisa also highlights career opportunities in the financial crime sector, emphasizing the importance of effective training.
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Joining The FDIC During The Oil Crisis
- Lisa joined the FDIC during the Texas oil crisis after seeing frequent bank failures and was drawn to its mission to maintain stability and public confidence.
- She started as an examiner and stayed decades, saying the FDIC's role repeatedly proved vital.
Examining Problem Banks Early In Career
- Lisa described starting on community and midsize problem banks in Dallas, focusing on safety and soundness and working many failing institutions.
- She then helped in other regions and moved to Washington to work on capital markets and enforcement actions.
Banking Became Larger And Digitally Complex
- Banking transformed from many small local banks to consolidated large institutions with global reach, permanently changing risk profiles.
- The pandemic and digitization accelerated remote interactions and increased AML, fraud, and cybersecurity challenges.