A Global Financial Services Firm 2008 - 2013
Compliance Executive 2011 - 2013
" Direct report to Global Chief Compliance Officer with overall responsibility for ensuring business unit compliance with applicable laws, regulations and corporate compliance policies.
" Chief Compliance Officer of domestic and foreign domiciled insurance companies.
" Member, Boards of Directors of U.S. domiciled insurance companies.
" Member of compliance, operations and risk management committees.
" Implemented a regulatory compliance program ensuring legal requirements, regulator and other stakeholder expectations - including federal bank holding company requirements and related action items - were satisfied.
" Reported to executive leadership (Boards of Directors, executive committees and councils) on the state of compliance and significant regulatory and compliance matters.
" Met with regulators as appropriate to ensure positive relations and the timely discussion and resolution of any regulatory issues or concerns.
" Liaised and partnered with business unit and global function leadership - including Audit, Compliance, Finance, Legal, Marketing, Risk, Technology, and international insurance subsidiaries - to ensure coordinated coverage of and response to regulatory compliance matters.
" Led a matrixed team of direct and indirect reports supporting both global compliance functional and line of business specific compliance program objectives.
Tactical Response Team 2010 - 2011
" Directly assisted executive leadership with organizational response management, distilled real-time analysis and reporting, and coordination of expansive internal and external efforts.
" Organized and hosted daily strategy call for executive leadership.
" Liaised with corporate and business unit executive and functional leadership to ensure timely analyses, reporting and responses to emerging news and events.
Director of Pricing Governance 2008 - 2010
" Direct report to treasury balance sheet management executive with overall responsibility for establishing the Pricing Governance function.
" Developed and implemented pricing cost of funds methodology for retail and commercial loan and lease asset originations including assumptions for asset funding profiles, funding spreads and index rates, required equity, and default / prepayment rates.
" Represented Global Treasury in large customer operating agreement negotiations.
" Extended the pricing cost of funds to implement a funds transfer pricing (FTP) framework thereby enabling risk-adjusted pricing, performance measurement, and governance of business units.
" Liaised with Treasury, Economic Capital, Finance, Legal, Liquidity, Risk, Structured Funding, and Corporate Strategy disciplines to drive improvement and consistency in business unit pricing assumptions.
" Led and developed a small team of treasury analysts.
A Global Property/Casualty Insurer 1999 - 2008
Associate Actuary and Manager
" Direct report to Global Chief Actuary with overall responsibility for Corporate Actuarial and Enterprise Risk Services departments.
" Prepared Statements of Actuarial Opinion and related testing for subject lines of business.
" Managed all aspects of the Corporate Reserve Committee including formation and delivery of analysis and recommendations to executive management, and the vetting of business unit submissions.
" Provided full spectrum actuarial support for personal auto, U.S. commercial auto, and discontinued operations programs including pricing, reserving, and capital modeling.
" Proposed and implemented a GLM-based pricing analysis of a personal auto program including competitor rate-quoting tools and actuarial rate modeling software.
" Provided actuarial support to business units, including insurance and reinsurance rate analyses, rate filings, profitability analyses, loss and unearned premium reserve testing.
" Coordinated with independent actuaries performing audit support testing and rendering statutory Statements of Actuarial Opinion.
" Led and developed a small team of actuaries.
A Large Health Insurer 1995 - 1999 Senior Actuarial Analyst
" Prepared, analyzed, and reported parent corporation aggregate claim cost trends, business segment and line of business financial forecasts.
" Developed and maintained large group experience rating system rating factors and rates, specific stoploss rates, and related management reporting for over $1.0 billion of medium and large group business.
A Small Property/Casualty Insurer 1994 - 1995
" Performed pricing, reserving, rate filing and statutory reporting for domestic and international programs including offshore captives.
A Large Health Insurer 1990 - 1994
Actuarial Analyst (1992-1994)
EDUCATION & PROFESSIONAL DESIGNATIONS
Associate, Casualty Actuarial Society
Member American Academy of Actuaries
BA, Financial Administration
ACHIEVEMENTS & HIGHLIGHTS
Compliance Executive A Global Financial Services Firm
" Instituted a business unit compliance department and function a new 2nd Line of Defense global function team embedded within and providing compliance oversight with principal responsibility for ensuring compliance with applicable laws, rules, regulations including bank holding company regulations and compliance policies.
" Served as 2nd Line of Defense point of contact for all line of business compliance matters including evaluation, guidance, referral, issue escalation and resolution.
" Reinforced and strengthened an effective culture of compliance through education, tone, thought leadership, and leadership by example.
" Implemented the business unit Compliance Program, Compliance Procedures & Standards document, and Sanctions Screening (OFAC) Procedures & Standards.
" Led the completion and evaluation of business unit compliance risk assessments globally, including: General Compliance, Anti-Money Laundering (AML) Compliance, and Office of Foreign Assets Control (OFAC) Compliance.
" Led the completion of business unit compliance risk assessments globally in partnership with Program Centers, including: Anti-Corruption/Foreign Corrupt Practices Act (FCPA) Program Compliance and Privacy Program Compliance.
" Hosted and managed regulatory compliance examinations of the business unit.
" Led the remediation of compliance program deficiencies as identified through risk assessments and regulatory examinations including scoping, development and approval of action plans, selection of teams and execution through to issue closure and validation.
" Established and chaired a business unit compliance council.
" Led the deployment of the corporate sanctions screening platform an effort that required engagement of multiple line of business and functional teams.
" Led the creation and implementation of the business unit Compliance Monitoring, Testing, and Reporting (MTR) program.
" Risk and Compliance Committee activities:
o Voting Member of Corporate Compliance Risk and Anti-Money Laundering Escalation Committees.
o Voting member of business unit Risk Management Committee, New Product Committee and New Product Subcommittee.
o Compliance functional champion charged with preparing compliance risk assessments in support of New Product Committee review and decision for all business unit products.
o Provided effective review and challenge of proposed risk and compliance policies, procedures, and committee and council charters.
Tactical Response Team A Global Financial Services Firm
" Selected as member of a small core team supporting corporate and business unit executive leadership with tactical response.
" Rapidly acquired working knowledge of the business unit organization, its business operating model, and industry structural features and relevant events triggering the tactical response.
Director of Pricing Governance A Global Financial Services Firm
" Instituted the Pricing Governance department and function a new global function team with the Global Treasury responsible for establishing the linkage between funding costs and business unit asset pricing, and ensuring pricing models utilized consistently estimated and approved assumptions for: funding profiles, funding costs, required economic capital, default and prepayment rates, and corporate overhead expense.
" Liaised with line of business and functional leadership and staff across the organization to ensure proper support by and engagement with Global Treasury on all matters related to asset pricing assumptions.
" Engaged with Credit Risk and Economic Capital teams to provide, as appropriate, independent review and challenge of their data, methods, and resulting factors. Areas of review included historical loss experience used for analysis, data stratification, statistical distributions assumed, qualitative reviews of their processes, and the impact of proposed factors on pricing indications.
" Implemented the Corporate Funding Report which for the first time provided executive reporting on the relevant features of each active funding facility including facility size, funding spreads, asset classes, and loss/liquidity triggers and enabling active management of the attendant liquidity risks.
" Developed and implemented the pricing cost of funds methodology which for the first time provided an independent, consistent, documented and supported basis for the cost of funds used in business unit loan and lease asset pricing globally. This methodology included robust spreadsheet models to determine asset funding profiles thereby enabling the implementation of weekly cost of funds rate sheets.
" Represented Global Treasury in large customer operating agreement funding cost negotiations in which the pricing cost of funds methodology was a critical element. The methodology was incorporated in the operating agreement as proposed.
Associate Actuary and Manager A Global Property/Casualty Insurer
" Appointed as dual manager of Corporate Actuarial and Enterprise Risk Services departments.
" Leveraged my position as head of these departments to provide peer review support, control review challenge and testing, and thought leadership to actuaries across the global organization.
" Implemented robust consultancy quality spreadsheet controls and modeling discipline in all actuarial work product including pricing models, reserving models, economic capital models, and reserve committee reports including standardized spreadsheet design, use of VB functions, page numbering and footnotes.
" Proposed and implemented statistically-based ranges for all home office loss reserve analyses while driving the implementation of loss reserve ranges across the global organization. This process included in-depth research and simulation-based modeling of reserve variability based on papers by Thomas Mack, Daniel Murphy, Peter England & Richard Verrall, among others.
" Developed and led the implementation of end-to-end program specific pricing and reserving models - using data extracted various from third-party systems or bordereaux and aggregated and analyzed using Access/Excel/SAS/SQL/ResQ/EMBLEM.
" Supported MGA business unit reinsurance account pricing. This activity included extensive training on reinsurance pricing methods and models and hands-on account pricing experience.
SOFTWARE TOOLS AND EXPERIENCE
" Programming experience for business applications including BASIC, Pascal, Visual Basic for Excel/Access, SAS Macro Language, and Syncsort in desktop, network, and mainframe environments.
" Broad experience with database management systems and OLAP tools including IBM Cognos/TM1, dBase, DB2, FoxPro, Oracle, and SQL Server.
Practical experience with functional software products including:
" Actuarial: TowersWatsons ResQ/EMBLEM/IGLOO, ReservePro.
" Treasury: Bloomberg Terminal, the QRM Framework.
" Risk/Compliance: IBM OpenPages, WoltersKluwerFS.
" Sanctions Screening: LexisNexis Bridger Insight, Accuity ComplianceLink.