1. Karen A. Rockoff
8601 Placida Road, #337
Placida, FL 33946
(973) 768-1019
Karenrockoff6@gmail.com
Experience Summary
• Forward-thinking chief enterprise risk officer.
• Skilled in the art of thinking strategically and acting
tactically.
• Proven leader, with strong management skills and long record of
advocacy for junior and senior professionals and superior
record for recruiting, training and retaining high quality
professional talent.
• Acclaimed for excellent communication skills, creativity, poise
and humor.
• Significant experience in credit analysis, across broad scope
of domestic and international entities, ability to assess
risk in loans and traded products.
• Proven expertise in all facets of enterprise risk management,
particularly strategic risk appetite evaluation, regulatory
compliance, governance and identification and
communication of emerging enterprise and industry risks.
Professional Experience
Peapack-Gladstone Bank, Bedminster, NJ April 2013 to May 2016
Chief Risk Officer
Executive Vice President (May 2014 to May 2016)
Senior Vice President (April 2013 to May 2014)
• Created cutting edge 360 degree enterprise risk management (ERM)
program, emphasizing appropriate governance
infrastructure.
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2. • First female Executive Vice President in 93-year history of the bank.
• Managed regulatory relationships with Federal Reserve Bank of New York and
New Jersey Department of Banking and Insurance.
• Managed Credit Administration and Underwriting risk teams, with advisory
leadership of commercial loan servicing team.
• Managed Regulatory Compliance team, with oversight of
retail, commercial and wealth management businesses.
Managed ERM team, with responsibility for all risk
assessment programs. Chairperson of Regulatory
Compliance Committee.
• Responsible for career management of approximately 50
professionals.
• Participated in all Board of Directors meetings, responsible for
presenting the Board with a succinct, proprietary review
of emerging risks, focused on forward view of traditional
CAMELS factors. Special presentations included: risk
assessment results, annual Patriot Act education, in-depth
analysis of commercial real estate portfolio, insurance
coverage, and regulatory insights.
• Critical input for formation of Board Risk Committee
comprised of outside Board members only. Created
charter, policy, format, content and prepared agendas and
supporting materials and highly detailed minutes. Very
close relationship with Chairperson of Committee, with
frequent communication about emerging risks and
forward-looking content for each Committee meeting.
• Created critical proprietary governance document, formal Risk Appetite
Statement and related quantitative dashboards, presented to the Board of
Directors quarterly.
• Prepared and presented original internal training for all
bank professionals about risk appetite and other critical
ERM topics.
• Active participant and leader in New Jersey and national risk organizations (New
Jersey Bankers, Risk Management Association and American Bankers
Association).
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3. • Served as Vice Chairperson of NJ Bankers ERM
Committee. Extensive involvement in planning annual
ERM Conference and interim panels. Moderated panel
on vendor risk management at 2015 annual CEO
Conference.
• Created third party vendor risk management program, including a
proprietary policy and robust risk assessment program.
Critical input to the enhancement of Contract Approval
Committee, commensurate with enhanced vendor risk
program. One of four authorized signatures for contract
approvals.
• Co-authored cutting edge Business Continuity Plan, which
leveraged enterprise-wide risk assessment program.
• Co-leader of Cyber Security task force, which created
contemporary cyber security education program for all
bank professionals, to supplement evolving fraud
management initiatives.
• Created internal senior management committee (Firm Risk Committee), which
met monthly to discuss discrete risk issues in all businesses and operations.
Committee Chairperson. Oversight of agenda items and
subsequent preparation of minutes.
• Part of core senior management team that determined
bank’s quarterly ALLL, reviewing impact of credit
quality of loan portfolio on income and asset quality.
Significant interface with Chief Financial Officer,
Treasurer and independent accountants.
• Negotiated all bank insurance policies, working with outside
insurance agents and underwriters, with particular
emphasis on cyber insurance and D&O policies.
• With Chief Credit Officer and Treasurer, responsible for bi-annual portfolio stress
testing, in consultation with outside consultant. Stress testing focused on
commercial real estate portfolio; developed practice for determining appropriate
ALLL for C&I loans.
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4. • Created and chaired bank’s New Product Approval Committee, which provided
forum for detailed review of impact of proposed new products by operations
and business leaders.
• Supervised preparation of all policies for review and
approval by Board and Board-level committees.
Responsible for final editing and preparation of summary
notes for approval body, to ensure consistency and
inclusion of up-to-date FRBNY guidance.
• Created CRA Committee and served as senior participant. Committee
input critical to determining bank assessment area for
HMDA purposes.
• Integral executive management participant in internal governance
committees for Asset Liability management, loan and
deposit pricing, proprietary investment decisions and
policy, Information Technology and non-Board voting
member of Trust Committee.
• Created and led content development and meetings of bank-
wide female advocacy group, known as LEAD
(Leadership, Education, Advocacy and Development).
First-ever endeavor in over 90 years to address issues
unique to female professionals, who represented two-
thirds of Bank employees.
Morgan Stanley, New York, NY 1996 to January 2013
Credit Risk Management Department
Executive Director (December 2003 to January 2013)
Vice President (December 1999 to December 2003)
Associate (October 1996 to December 1999)
• Led coverage for portfolio of 250 tax-exempt healthcare clients, with aggregate
exposure of $4 billion. Supervised team of six analysts that prepared annual and
ad hoc credit reviews for the portfolio. Approved new credit lines, cured line
excesses and renewed approval of existing credit limits.
• Reviewed new counterparties for lending relationships and traded products;
evaluated the risk of new transactions. Assigned PD (probability of default) and
LGD (loss given default). Presented counterparties for new loans to internal
Commitment Committees for approval consideration.
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5. • MS Bank N.A. Officer (title of Credit Professional) with lending authority up to
$110mm for the Bank for loans to tax-exempt counterparties. Considerable
credit authority for traded products, based on credit rating.
• Acted as Chief Administrative Officer for Global Head of Corporate Lending. Led
team recruiting initiatives, performance management, headcount evaluation
decisions, promotion management and coordination of assignments with
overseas teams.
• Committee Secretary for Oversight Committee for Credit Risk Metrics,
responsible for overseeing the methodologies for the internal credit ratings
system within the Firm’s Basel II capital framework. Determined agenda items,
complex scheduling, distribution of relevant supporting documentation,
preparation of detailed minutes and tracking open items.
• Managed relationship with tax-exempt fixed income desk, which entailed
modeling derivative transactions and working with several industry research
coverage teams. Portfolio focus on healthcare and municipal counterparties.
Product focus was long-term derivatives, structured funding, debt service
reserve contracts and flex repos.
• Core Committee member of Municipal Capital Commitment Committee.
• Managed team that evaluated regulated and unregulated non-leveraged
counterparties for North and South America across all Morgan Stanley product
lines.
• Considerable experience with workout situations, created by counterparty
inability and/or unwillingness to honor mark-to-market obligations.
• Led credit coverage for Private Wealth Management division in North and South
America and for Regional Dealer Desk, across all products.
• Chaired Tax Exempt Credit Committee; co-chair of Global Financial Non-
Operating Companies Credit Committee; senior core member of Americas
Financial Institutions Credit Committee.
• Significant involvement in negotiating credit terms in ISDA agreements for wide
range of counterparties and products (fixed income and equity derivatives and
foreign exchange trading).
• Quarterback for credit risk approval for all New Product Approvals (NPA) for the
Americas, for the Firm and MS Bank. Managed global NPA procedures and
policies for Credit Risk Management. Member of ISG NPA Subcommittee.
• Led year-round recruiting for analysts and interns; coordinated Firm and
department training programs, twice-yearly performance evaluation process and
bonus awards. Coordinated performance warnings and disciplinary measures, as
needed.
• Broad product experience, with focus on fixed income derivatives, repo,
securities lending, foreign exchange and equity derivatives; lesser focus on
commodities and structured products.
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6. • Significant experience across all products with Latin American counterparties,
with emphasis on financial institutions, pension plans and unleveraged
counterparties.
• Reviewed and assigned exception credit limits with senior level credit authority.
• Domain coordinator for SARC (Subsidiaries and Acquisitions Risk and Control) for
Credit Department. Member of SARC Steering Committee.
Nomura Securities International, Inc., New York, NY 1994 to 1996
Corporate Credit Department
Vice President and Senior Credit Analyst
• Evaluated creditworthiness of extensive portfolio of trading counterparties and
provided credit support to all firm trading desks.
• Portfolio included Latin American corporations and financial institutions, broker-
dealers, commercial banks, mortgage banks, hedge funds, investment advisors,
and special purpose vehicles.
• Credit support for all fixed income products, structured equity derivatives, real
estate, distressed assets and investment banking.
Republic National Bank of New York, New York, NY 1992 to 1993
Credit Review Department
Assistant Vice President
• Evaluated credit quality of worldwide loan portfolio, trading lines and other
extensions of credit.
• Analysis included independent financial analysis of customers and
counterparties, creation of comprehensive written reviews and documentation
reviews.
• Portfolios reviewed included middle markets, asset-based loans, real estate,
large corporate syndicated loans, trading lines, gold, and workout loans.
• Reviewed portfolios of clients based in offices in Paris, Monte Carlo, Geneva,
Lugano, Milan, London, Montreal and New York.
• Special extended one-year assignment in Paris as loan workout officer.
Security Pacific Bank; Woodland Hills, CA 1991 to 1992
Middle Market Lending
Assistant Vice President
• Managed a $50 million loan portfolio; relationships ranged from $250,000 to $17
million.
• Frequent contact with senior management of client companies to service daily
customer needs.
• Monitored compliance with facility terms and introduced bank services.
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7. Bankers Trust Company, Los Angeles, CA 1989-1991
Associate, BT Commercial Corporation
• Managed $35 million asset-backed loan portfolio.
• Assisted senior bankers during due diligence process for new business
development.
PaineWebber, Inc., New York, NY 1986-1988
• Sales trader, specializing in over-the-counter stocks.
Education
Columbia University, Graduate School of Business May 1986
M.B.A. – Finance
The Pennsylvania State University August 1981
B.S. – Accounting, and B.A. – French
Additional
• Member of both Finance Council and Parish Council at Our Lady of the Mount
Church in Warren, NJ. Served on Strategic Planning Committee for two years.
• Long-term volunteer and significant financial contributor to Tabby’s Place, an
animal sanctuary in Ringoes, NJ
• Volunteer: Dress for Success in Morristown, NJ and Center for Great
Expectations in Somerset, NJ
• Member of Penn State College of Liberal Arts Alumni Society Board
• Avid world traveler, gourmet cook, speak French and Italian proficiently
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