An offensive lineman at the University of New Haven in his day, Allen Love ’88, ’90 MPA knows about protecting the pigskin. He understands that the mission is to keep the bad guys away from the treasure. So it was a natural segue for him to take his economics and public administration degrees and enter the world of white-collar crime fighting.
Now senior vice president in charge of anti-money laundering for TD Bank and deputy global AML officer for TD Financial Group, based in Toronto, Love started as a special agent for the IRS Criminal Investigation Unit.
“At the time, I didn’t even know the IRS had special agents similar to the Drug Enforcement Agency and the FBI,” Love recalls. “I just thought ‘taxes.’” But he soon discovered its anti-money laundering group and entered the compliance field.
Since then he has consulted for KPMG and held senior positions at Citigroup, Paypal, GE Commercial Finance and the Depository Trust Clearing Organization. His 20 years in criminal justice and advising financial institutions has positioned him to guide TD Bank’s efforts to fend off white-collar crime, including complying with federal Patriot Act precautions to combat money laundering and terrorist financing. The work involves monitoring bank practices to meet federal requirements and staying a step ahead of the new class of offenders.
“In the world we live in there’s always some kind of fraud or scheme taking place,” Love says.
Love’s career highlights include two major international cases. One uncovered a bank official at Bank of New York who was colluding in a $7 billion Russian money-laundering scheme. The other involved a high-profile mismanagement of Riggs Bank accounts for Chilean dictator Pinochet and Equatorial Guinea. Both banks were fined nearly $40 million in federal penalties.
Love also was a member of the original El Dorado Task Force that battled the money-laundering aspect of narcotics trafficking at the Mexican border in the early ’90s.
He credits his UNH advisor, Charles Coleman, for steering him toward his career choice and economics professor Martha Woodruff for seeing his potential. “She was one of the professors who recognized something in me and really pushed me,” he says.
Coleman remembers Love: “He had good native intelligence and I was sure he would succeed.”
Love lives with his wife, Jessica, and four children in Lumberton, N.J. The former football team captain keeps in touch with his coaches – Tony Sparano, offensive coordinator for the New York Jets, and Chris Palmer, offensive coordinator for the Tennessee Titans. Palmer was head coach at UNH when Love played, and Sparano was his line coach.
He attributes his perseverance in crime fighting to football and the coaching he received.
“Sometimes investigations take a long time,” Love says. “There are times when you’re tired physically, but football teaches you to keep going, and you don’t give up. Talent isn’t enough. You’ve got to want it and let no one outwork you.”
Posted Winter 2012