Mitchell Fileto is Compliance Consultant for Renaissance Regulatory Services, Inc., a full-service consulting firm that offers a wide range of regulatory and compliance consulting services to broker-dealers and registered investment advisers. Mitchell has over seven years of experience in the financial industry, banking operations, and providing support services to broker-dealers and investment advisers relative to federal, state and self-regulatory rules and regulations.
Mr. Fileto has worked in the banking industry in a supervisory capacity where he was directly responsible for the risk assessment and onboarding of new clients, management of client relations and support of daily operational functions. Correspondingly, Mr. Fileto supported compliance efforts with regulatory guidelines such as Bank Secrecy Act, Regulation CC and Regulation E., and ensured audit controls were followed to protect the bank from unnecessary risk and exposure.
As a Consultant, Mr. Fileto is responsible for the management of RRS’ Anti-Money Laundering (AML) compliance services, assisting clients with the development, implementation and maintenance of their AML program, including Anti-Money Laundering Customer Identification Program, OFAC compliance and FINCEN Section 314(a) reviews for broker-dealers, ensuring clients meet current AML compliance requirements, ongoing support on AML related matters, conducting AML examinations, providing compliance recommendations, and assisting with training and development. As part of RRS’s compliance team, he has served as a project manager on AML related matters to small and large broker-dealers, investment advisers, and mutual funds.
In addition to the above, Mr. Fileto is responsible for the oversight of RRS’ financial services. These services include financial statement preparation, net capital compliance, FOCUS filings, and interpretive guidance. Mr. Fileto has completed and supervised the preparation of financial statements, net capital computations, and FOCUS filings for over thirty broker-dealers and investment advisers. The support Mr. Fileto provides to broker-dealers includes submitting all required forms and notifications to regulators prior to deadlines, as well as working closely with outside CPAs to assist with the preparation of annual audits. Mr. Fileto also manages the 13F, 13H, 13G and 13D filings for institutional investment managers.
Mr. Fileto earned a Bachelor of Business Administration Degree (BBA) in Finance from Florida Atlantic University and is a Certified Anti-Money Laundering Specialist (CAMS).