Anti money laundering lead draws from 50 years (and counting) of experience

Deb Mattson’s tenure with the bank makes her a ‘fountain of knowledge,’ her manager says

When Deb Mattson joined U.S. Bank predecessor First National Bank of Minneapolis 50 years ago, one of her first assignments was to give customers what was then a brand new product: an ATM card. Five decades and countless changes later, she now leads a team that helps fight money laundering.

“The person who hired me saw it as a short-term job and didn’t think I’d last six months,” said Mattson, who was a month shy of her 18^th birthday when she started. “I had more of an artistic background, but I decided I wanted to make money and be independent, so I paid the fee at an employment agency and started working here.”

Mattson began working in the bank’s operations group, which was then based inside the downtown Minneapolis branch. As banking became more modernized – with the adding machine on her desk being replaced by a PC, for example – Mattson continued in behind-the-scenes roles.

“No matter what job I’ve had here, it’s always been about good documentation and understanding the reasons for it,” she said. “I’ve always been solving problems and doing research, two things I love doing.”

Like other banks around the country, U.S. Bank created an anti-money laundering team in 2001 after the Sept. 11, 2001, terrorist attacks. When the team was formed, a friend at the bank invited Mattson to join, and she’s been with it ever since.

“I loved it right away,” she said. “I loved the digging, looking for clues. We were very focused on protecting the country, which felt very patriotic, and at same time protecting our customers and the bank.”

As criminals continuously adapt and develop new methods to evade detection, exploiting vulnerabilities in the financial system to launder money and commit other illicit financial crimes Mattson and her team have worked with members of law enforcement and the government to stay current on new trends, such as the “pig butchering” scam that’s popular now and involves criminals sending what seem like misdirected text messages to people to start a dialog that can eventually lure the receiver into a fraudulent scheme.

“We’re always learning about new things, and that is always interesting,” Mattson said. “I tell my Investigators that they should learn all that they can about banking and financial crimes, as that knowledge is incredibly valuable to their career here.”

Mattson’s learnings are valuable to the bank, said her manager for the past 10 years, Molly Heruth, an investigations manager in the financial crimes division.

“Fifty years is a remarkable achievement – in a career, and in life,” Heruth said. “I’m honored to celebrate this anniversary with Deb. She has dedicated her career to U.S. Bank. She is a relentless guardian for the bank and for our customers, identifying and reporting AML threats and financial crime. She also inspires others to do the same, through teaching and turning knowledge into a powerful line of defense. She is a fountain of knowledge.”

As for why Mattson has stayed with the company for five decades, she said it’s because she loves her work, her coworkers and the managers she’s had over the years.

“I tell people that I started the job and pretty soon I was here five years, and then it was 10, and then I just kept on going,” Mattson said. “It’s been a great ride and very rewarding in many ways.”