Operational Security Solutions (“OSS”), the premier provider of full-spectrum risk management services with specialization in secure cash management and logistics, cannabis-specific compliance services, security consulting, and facility hardening, announced today that the Company’s longtime Chief Operating Officer Scott Solomon has been appointed to the position of Chief Executive Officer by the Board of Directors (the “Board”).
Solomon has held a senior role with OSS since corporate inception in 2017 and looks forward to shepherding the Company through its strategic growth and key initiatives. As CEO, Solomon will lead corporate operations, staff and contractors; the establishment of new OSS franchises throughout the United States; and coordinate the efforts of the C-Suite staff to achieve the strategic direction established by the Board. Solomon’s primary contributions to date include the development and rollout of an industry-leading compliance program and the optimization of staff and assets to support rapid market expansion.
As Solomon begins his new role as CEO, previous managing partner Robert Simpson will be moving into an advisory role on the Company’s Board.
“Scott is uniquely positioned to build upon our market dominance in California to drive our expansion efforts throughout the U.S., including the expansion of OSS into East Coast markets in conjunction with the launch of our newest division, OSS East, in Philadelphia, Pennsylvania,” said Robert Simpson, previous managing partner of Operational Security Solutions. “With Scott’s impressive federal government expertise, including more than 25 years of managing grants and contracts for a multitude of federal agencies and universities, we are confident Scott is the perfect fit for the position.”
During his time as COO, Solomon oversaw compliance operations that included a comprehensive internal Anti-Money Laundering (AML)/Bank Secrecy Act (BSA) program, field audit support for financial institutions, and other programs to maximize compliance operations across OSS’ portfolio of clients while aligning staff and capital resources to best support market expansion.
“The market for financial institution risk management within the cannabis space is rapidly and ever-evolving, and I am proud of OSS’ accomplishments that position us as a trusted and proven service provider in a very complex and nuanced regulatory environment,” said Scott Solomon, CEO of OSS. “I’m thrilled to be stepping into this role as we continue to plant our flag in markets across the country and hit new benchmarks in our strategy for success.”
OSS offers industry-leading security offerings, cannabis-specific financial service solutions and relationships, connecting highly regulated businesses that struggle to get banking services with financial institutions that have specific programs designed for the industry or organizations that are unable to be serviced by certain banks. Notably, OSS boasts a no-loss record to-date.