Empowering the Cannabis Value Chain Through Strategic Operational Transformation
Insights from a Former Executive VP in Financial Services
Drawing from my extensive experience as Executive Vice President and Head of Retail Bank Operations at a major financial institution, I now dedicate my career to supporting individuals and businesses across the cannabis value chain through tailored advisory services. My years leading an operations group of 4,000 employees instilled in me a deep understanding of what it takes to drive end-to-end transformation in highly regulated, rapidly evolving industries—a perspective that is essential for those navigating the unique challenges and opportunities within the cannabis sector.
During my tenure, I spearheaded operational initiatives that reimagined the back office—not as a cost center, but as a strategic partner in data-driven product and risk management. My journey began with three core operating groups: Anti-Money Laundering (AML) Operations, Check Processing, and Banking Services, which encompassed critical functions like subpoenas, garnishments, cash management and distribution. These were supported by specialized teams of Six Sigma-trained process engineers and business information management professionals.
When I entered this role, I quickly identified gaps in infrastructure for tracking essential metrics—transaction volumes, quality controls, and stakeholder satisfaction. I addressed these challenges by collaborating with cross-functional teams and external technology vendors to implement workforce management systems, enabling real-time measurement of productivity in customer service, alert monitoring, investigations, process completion, and dispute resolution. By integrating case management software, I established direct links between service levels and customer lifetime value, built robust reporting on quality and client SLAs, and launched internal surveys to ensure continuous feedback and improvement.
My leadership responsibilities also extended to enterprise risk management, particularly in AML and sanctions monitoring, where I served on risk committees reporting directly to the executive committee and CEO. These experiences provided valuable insights into regulatory compliance—a cornerstone for any business in a tightly regulated industry like cannabis.
Now, as an advisor, I bring the same data-driven, pragmatic approach to clients throughout the cannabis value chain. I understand firsthand the operational rigor and strategic foresight required to satisfy regulatory expectations while positioning for sustainable growth. My previous role involved evaluating emerging industries, including gaming and cannabis, weighing institutional risk appetite against opportunity. For instance, our bank made the decision to serve gaming clients with robust AML protocols, while maintaining a conservative position on cannabis—illustrating the kind of disciplined risk assessment and control environment necessary for market participation.
For cannabis entrepreneurs, operators, and investors, my advisory services are informed by years of hands-on transformation and governance at the intersection of innovation and compliance. Whether you’re seeking to scale your operations, optimize risk management frameworks, or build resilient back-office systems, I offer a unique vantage point and proven strategies to empower your business and unlock new opportunities in the evolving cannabis marketplace.
By Mark Allen