This summary provides an overview of Karen Rockoff's professional experience:
Karen Rockoff has over 20 years of experience in risk management and credit analysis. She most recently served as Chief Risk Officer at Peapack-Gladstone Bank from 2013 to 2016, where she created an enterprise risk management program and managed regulatory relationships. Prior to that, she spent 17 years at Morgan Stanley in various credit risk management roles, including leading coverage of a $4 billion healthcare client portfolio and managing new product credit approvals. She began her career as a Senior Credit Analyst at Nomura Securities International.
Marina Bourelly-Liautaud has over 20 years of experience in regulatory risk management, strategic planning, and corporate governance at large financial institutions. She currently works as a Special Examiner at the Federal Reserve Bank of New York ensuring compliance at systemically important financial institutions. Her background includes roles in risk management, policy development, and project management at Citigroup, UBS, and Bank of Boston.
Malia Young Shelton is seeking a mortgage underwriting position. She has over 25 years of experience in various underwriting roles, including conventional, jumbo, FHA, VA, and manual underwriting. Currently she is the Mortgage Operations Manager at Allegiance Federal Credit Union, where she oversees all aspects of mortgage operations. Previously she held underwriting roles at Wolfe Financial, Essent Guaranty, Triad Guaranty, Salem Trust Bank, and Branch Banking and Trust. She has extensive experience in underwriting, management, and operations.
Credit risk arises from a counterparty's failure to meet contractual obligations. The quantity and quality of credit risk are assessed using various indicators. Quantity is derived from credit exposure levels and quality of exposures. Quality depends on default and loss risk. Low quantity is indicated by conservative underwriting and risk selection with well-diversified exposures, strong credit administration, and stable economic conditions. High quantity exists when underwriting is liberal and concentrations are large with deteriorating economic factors. Strong quality involves effective risk management practices while weak quality has deficient policies and passive management of risks.
The document discusses the need for integrated balance sheet management in financial institutions. It notes that traditional ALM focusing only on interest rate risk and capital is evolving into dynamic balance sheet management that drives strategic decisions. Future state balance sheet management will fundamentally change operating models, rationalize data/technology, and use enhanced analytics to optimize strategies under multiple constraints. Implementing these changes requires sponsorship from the Board and cross-functional participation across the organization.
The document summarizes the objectives of Basel III regulatory changes from the perspective of regulators, including addressing systemic risk, improving risk assessment methods, strengthening capital standards, and enhancing liquidity and leverage rules. It also outlines supervisory expectations for strengthened enterprise risk management, stress testing, and internal capital adequacy assessments at financial institutions. The changes are aimed at making the financial system more resilient by reducing interconnectedness and improving risk management, but will have implications for provincially regulated credit unions.
BCG-Five-Practices-of-Operational-Risk-Leaders-Oct-2016_tcm80-214941Dr. Marc D. Grüter
The document discusses five practices that leading operational risk management programs at banks employ to more effectively manage operational risk. These include: 1) setting clear strategic objectives and priorities for operational risk that are aligned with business goals; 2) efficiently managing mature operational risks to free up resources for emerging risks; 3) having a strong function for identifying and tracking emerging risks; 4) clearly defining the roles and responsibilities of each line of defense; and 5) revising incentives to reinforce desired risk management behaviors. Banks that master these five practices are better equipped to anticipate and mitigate risks in a changing environment.
160513 Study Sourcing in risk and compliance functionsDr. Marc D. Grüter
This document summarizes insights from a benchmark study on sourcing risk and compliance functions in international financial institutions. Key findings include:
1) Sourcing risk and compliance functions can improve effectiveness and efficiency while reducing costs by up to 30%. It allows banks to focus on differentiators and quickly adapt to regulatory changes.
2) Most banks implement a nearshoring model, with hubs in locations like India and Eastern Europe. Examples of successfully sourced functions include risk modeling and standardized transaction decisions.
3) Success requires a strong business case, transparency on current functions, and ensuring additional risks are managed within risk appetite. Detailed planning is also important to realize benefits while mitigating execution risks.
Marina Bourelly-Liautaud has over 20 years of experience in regulatory risk management, strategic planning, and corporate governance at large financial institutions. She currently works as a Special Examiner at the Federal Reserve Bank of New York ensuring compliance at systemically important financial institutions. Her background includes roles in risk management, policy development, and project management at Citigroup, UBS, and Bank of Boston.
Malia Young Shelton is seeking a mortgage underwriting position. She has over 25 years of experience in various underwriting roles, including conventional, jumbo, FHA, VA, and manual underwriting. Currently she is the Mortgage Operations Manager at Allegiance Federal Credit Union, where she oversees all aspects of mortgage operations. Previously she held underwriting roles at Wolfe Financial, Essent Guaranty, Triad Guaranty, Salem Trust Bank, and Branch Banking and Trust. She has extensive experience in underwriting, management, and operations.
Credit risk arises from a counterparty's failure to meet contractual obligations. The quantity and quality of credit risk are assessed using various indicators. Quantity is derived from credit exposure levels and quality of exposures. Quality depends on default and loss risk. Low quantity is indicated by conservative underwriting and risk selection with well-diversified exposures, strong credit administration, and stable economic conditions. High quantity exists when underwriting is liberal and concentrations are large with deteriorating economic factors. Strong quality involves effective risk management practices while weak quality has deficient policies and passive management of risks.
The document discusses the need for integrated balance sheet management in financial institutions. It notes that traditional ALM focusing only on interest rate risk and capital is evolving into dynamic balance sheet management that drives strategic decisions. Future state balance sheet management will fundamentally change operating models, rationalize data/technology, and use enhanced analytics to optimize strategies under multiple constraints. Implementing these changes requires sponsorship from the Board and cross-functional participation across the organization.
The document summarizes the objectives of Basel III regulatory changes from the perspective of regulators, including addressing systemic risk, improving risk assessment methods, strengthening capital standards, and enhancing liquidity and leverage rules. It also outlines supervisory expectations for strengthened enterprise risk management, stress testing, and internal capital adequacy assessments at financial institutions. The changes are aimed at making the financial system more resilient by reducing interconnectedness and improving risk management, but will have implications for provincially regulated credit unions.
BCG-Five-Practices-of-Operational-Risk-Leaders-Oct-2016_tcm80-214941Dr. Marc D. Grüter
The document discusses five practices that leading operational risk management programs at banks employ to more effectively manage operational risk. These include: 1) setting clear strategic objectives and priorities for operational risk that are aligned with business goals; 2) efficiently managing mature operational risks to free up resources for emerging risks; 3) having a strong function for identifying and tracking emerging risks; 4) clearly defining the roles and responsibilities of each line of defense; and 5) revising incentives to reinforce desired risk management behaviors. Banks that master these five practices are better equipped to anticipate and mitigate risks in a changing environment.
160513 Study Sourcing in risk and compliance functionsDr. Marc D. Grüter
This document summarizes insights from a benchmark study on sourcing risk and compliance functions in international financial institutions. Key findings include:
1) Sourcing risk and compliance functions can improve effectiveness and efficiency while reducing costs by up to 30%. It allows banks to focus on differentiators and quickly adapt to regulatory changes.
2) Most banks implement a nearshoring model, with hubs in locations like India and Eastern Europe. Examples of successfully sourced functions include risk modeling and standardized transaction decisions.
3) Success requires a strong business case, transparency on current functions, and ensuring additional risks are managed within risk appetite. Detailed planning is also important to realize benefits while mitigating execution risks.
This document discusses financial risk management. It explains that risk management is an important business priority and outlines different types of risks including known risks, emerging risks, and unknowable risks. It also discusses high impact risks that have a low probability of occurring but could be catastrophic. The challenges of dealing with these types of risks are described. Key areas of financial risk are then outlined, including market risk, credit risk, liquidity risk, regulatory risk, and people and performance risk. Finally, the document discusses different approaches to financial risk management and outlines four key lessons: strengthen checks and balances, be prepared through anticipating scenarios, show leadership and shape culture, and understand risk.
1) Shareholder value is a key measure for evaluating banks and assumes greater importance in today's dynamic economic environment. It provides a clear quantification of an organization's value within current financial reporting standards.
2) Banking CFOs need efficient enterprise performance management (EPM) systems to gain a holistic understanding of financial valuations, profitability, cash flows, and make future projections. This allows them to actively participate in strategic planning and forecasting to consistently create shareholder value.
3) An effective EPM system requires access to accurate enterprise-wide data on financial instruments, macroeconomic indicators, and risk factors. It also needs quantitative modeling capabilities and controls to simulate scenarios and optimize financial projections and regulatory capital
MODULE 3:
Credit Risks Credit Risk Management models - Introduction, Motivation, Funtionality of good credit. Risk Management models- Review of Markowitz’s Portfolio selection theory –Credit Risk Pricing Model – Capital and Rgulation. Risk management of Credit Derivatives.
The document discusses approaches to stress testing for banks, including scenario analysis, sensitivity analysis, and enterprise-wide stress testing. It also outlines increasing supervisory expectations around stress testing from regulators, including greater focus on qualitative assumptions, risk modeling methodology, data management, and governance. The challenges of complying with capital planning and stress testing requirements are also examined.
Credit risk management and Exchange rate risk managementkamakshi potti
This document discusses credit risk management and exchange rate risk management. It defines credit risk as the potential failure of a borrower to repay a loan or meet obligations. It outlines the credit risk management process of identifying, measuring, monitoring, and controlling risk. It also defines exchange rate risk as the risk of currency fluctuations impacting the value of foreign currency cash flows. It describes transaction, translation, and economic exchange rate exposures and strategies to manage them, such as hedging with currency derivatives or adjusting marketing, production, and financial initiatives.
Q Factors: How to Justify in Periods of Low LossLibby Bierman
Qualitative factors, or "Q factors" for short, can be a black box for bankers looking to build an objective ALLL calculation. In times of low losses, it can be even more difficult to justify these qualitative factors. This slideshow offers recommendations to add objectivity, directional consistency, and improve the process behind the qualitative portion of the allowance calculation as a whole.
Assessing a bank’s culture is not an easy task, but there clearly is an increased emphasis on culture that is part of the regulators' broader focus on “heightened standards.” Learn what it takes to have a strong credit culture. Read about these 10 credit culture factors to assess your institution's credit culture.
2017-01-25 A Framework for Strengthening Your Nonprofit’s Investment Reserve ...Raffa Learning Community
Nonprofit Executives and their Boards know they must periodically review reserve or investment policies. They don’t always know, however, what’s involved. Through his work on the Study on Nonprofit Investing (SONI), Dennis Gogarty of Raffa Wealth Management has developed an easy-to-follow investment policy framework which will assist nonprofits in developing or strengthening their organization’s policy and procedures.
This document discusses various types of risks faced in investment and banking. It defines risk management as identification, analysis and mitigation of uncertainties. It then lists different types of risks like interest rate risk, market risk, inflation risk, etc. It also discusses the responsibilities of board and senior management in risk management and outlines the components of an effective risk management process including organizational structure, systems and procedures.
CAMELS is a tool used by US bank regulators to measure the financial condition of institutions. It assesses Capital adequacy, Asset quality, Management, Earnings, Liquidity and Sensitivity to market risk based on financial statements, portfolio aging, funding sources, business information, and cash flow projections. For example, capital adequacy ensures solvency by maintaining sufficient capital for risks in business, which can be measured by the capital growth rate of (current equity - prior equity) / prior equity.
This document discusses key elements of sound risk management programs for community banks. It outlines that risk management programs should include board and senior management oversight, policies and procedures to limit risks, risk measurement and monitoring systems, and internal controls. Specifically for liquidity risk management, it recommends having expertise in cash management and asset-liability committees, appropriate risk limits in policies, and contingency planning that considers liquidity crisis scenarios. The document also provides examples of liquidity risk measurement tools and outlines elements that should be included in a contingency funding plan.
This document summarizes a webinar presented by Mike Lubansky on stress testing loan portfolios. The webinar covered regulatory requirements for stress testing, the objective and importance of stress testing, different types of stress testing approaches for community banks, challenges with data collection, scenario selection, and maximizing the value of stress test reports. Sample stress test outputs were presented and common mistakes were discussed. The webinar provided an overview of effective stress testing practices for community banks.
Credit risk refers to the risk of a counterparty defaulting on their obligations. It is defined as the possibility that a borrower may fail to meet their obligations in accordance with the agreed terms. There are several components of credit risk, including the amount of the loan, quality of the loan, default risk, exposure risk, and recovery risk. Credit risk management is important for banks due to new financial transactions, decreasing government support, and regulatory capital requirements. Banks traditionally evaluated credit risk using the 5 C's of credit analysis and now also utilize internal credit rating systems.
Risk management in banks is important as banks are exposed to various risks in the changing Indian economy. The key risks include credit risk, market risk, operational risk, liquidity risk, and interest rate risk. Effective risk management involves identifying, measuring, monitoring, and controlling risks. Banks must have robust policies, strategies, organizational structures, and systems in place to properly manage risks like establishing risk limits, risk grading, and risk mitigation techniques. Proper risk management is essential for the long-term success of banks.
The Xavier Student Bond Investment Fund outperformed its benchmark, the Bloomberg Barclays US Government/Credit Bond Index, for the 6-month period from April 1 to September 30, 2016, returning 3.63% versus the benchmark return of 3.08%. The outperformance was attributed to the fund's overweight position in corporate debt and expanded allocation to high yield and mortgage-backed securities. As of September 30, the fund maintained a shorter duration than the benchmark and a higher allocation to credit positions, positioning it to potentially benefit from moderately rising interest rates.
This document is a resume for Syed Arif Raza, who has over 30 years of experience in finance, credit, risk management, and collection roles. He has held leadership positions at Standard Chartered Bank, Grays Leasing Ltd, PIC Leasing, and First General Leasing Modaraba. His experience includes credit approval, portfolio management, strategy development, and reducing bad debt. He has an MBA with a major in accounting and is a certified public accountant and certified skills assessor.
The board of directors is responsible for overseeing the bank's credit risk strategy and policies. They should approve a credit risk strategy that defines the bank's risk appetite. Senior management is then responsible for implementing this strategy through establishing a sound credit granting and administration process. This includes setting credit policies, limits, and criteria and monitoring loans. An effective credit risk management system involves identifying, measuring, monitoring, and controlling credit risk, and includes internal risk ratings, management reporting, and independent credit reviews.
This document discusses financial risk management approaches and criticisms of modern portfolio theory. It notes that qualitative risk management is important given human cognitive biases and irrational market behavior. The document critiques assumptions of MPT like rationality and normal returns. Modern risk measures like Value at Risk are flawed as risks are fat-tailed rather than normal. Scenario analysis and non-parametric estimates are recommended to better account for tail risks and model limitations.
What Basel says about Expected Credit Loss (ECL)Libby Bierman
In early February 2015, the Basel Committee on Banking Supervision (BCBS) issued guidance on accounting for expected credit losses (ECL). The guidance, which outlines supervisory expectations for transitioning to an expected loss model, serves as the next “piece of the puzzle” in deciphering what the FASB's impending Current Expected Credit Loss (CECL) model means for bankers.
The credit risk management team consists of Sanika Dixit, Shweta Vaidya, Sneha Salian, and Snehal Datta. Their goal is to assess and mitigate credit portfolio risks to reduce financial losses from borrower default. The BI solution enables accurate risk assessment, loss reduction, and faster reporting by analyzing key performance indicators like profit, customer growth, and credit risk at the region, product, and branch level.
David Cohen has over 15 years of experience in risk management and operational roles in the financial services industry. He has expertise in risk assessment, controls reviews, credit analysis, and ensuring adherence to regulations. Most recently, he provided operational risk and control support to UBS Bank AG and American Express, where he reviewed processes, risks, controls, and key risk indicators. Prior to that, he held risk management roles at Bank of New York Mellon, where he conducted risk assessments, developed risk dashboards, and engaged with compliance on risk oversight. He has a bachelor's degree in economics from Queens College.
Brian McCabe has over 15 years of experience managing client relationships and business development. He has held roles at Investec Securities, BNY Mellon, and Royal Bank of Canada focusing on trade surveillance, client management, and pricing/risk analysis. McCabe has experience developing strategic plans, marketing materials, and identifying new business opportunities to strengthen client relationships.
This document discusses financial risk management. It explains that risk management is an important business priority and outlines different types of risks including known risks, emerging risks, and unknowable risks. It also discusses high impact risks that have a low probability of occurring but could be catastrophic. The challenges of dealing with these types of risks are described. Key areas of financial risk are then outlined, including market risk, credit risk, liquidity risk, regulatory risk, and people and performance risk. Finally, the document discusses different approaches to financial risk management and outlines four key lessons: strengthen checks and balances, be prepared through anticipating scenarios, show leadership and shape culture, and understand risk.
1) Shareholder value is a key measure for evaluating banks and assumes greater importance in today's dynamic economic environment. It provides a clear quantification of an organization's value within current financial reporting standards.
2) Banking CFOs need efficient enterprise performance management (EPM) systems to gain a holistic understanding of financial valuations, profitability, cash flows, and make future projections. This allows them to actively participate in strategic planning and forecasting to consistently create shareholder value.
3) An effective EPM system requires access to accurate enterprise-wide data on financial instruments, macroeconomic indicators, and risk factors. It also needs quantitative modeling capabilities and controls to simulate scenarios and optimize financial projections and regulatory capital
MODULE 3:
Credit Risks Credit Risk Management models - Introduction, Motivation, Funtionality of good credit. Risk Management models- Review of Markowitz’s Portfolio selection theory –Credit Risk Pricing Model – Capital and Rgulation. Risk management of Credit Derivatives.
The document discusses approaches to stress testing for banks, including scenario analysis, sensitivity analysis, and enterprise-wide stress testing. It also outlines increasing supervisory expectations around stress testing from regulators, including greater focus on qualitative assumptions, risk modeling methodology, data management, and governance. The challenges of complying with capital planning and stress testing requirements are also examined.
Credit risk management and Exchange rate risk managementkamakshi potti
This document discusses credit risk management and exchange rate risk management. It defines credit risk as the potential failure of a borrower to repay a loan or meet obligations. It outlines the credit risk management process of identifying, measuring, monitoring, and controlling risk. It also defines exchange rate risk as the risk of currency fluctuations impacting the value of foreign currency cash flows. It describes transaction, translation, and economic exchange rate exposures and strategies to manage them, such as hedging with currency derivatives or adjusting marketing, production, and financial initiatives.
Q Factors: How to Justify in Periods of Low LossLibby Bierman
Qualitative factors, or "Q factors" for short, can be a black box for bankers looking to build an objective ALLL calculation. In times of low losses, it can be even more difficult to justify these qualitative factors. This slideshow offers recommendations to add objectivity, directional consistency, and improve the process behind the qualitative portion of the allowance calculation as a whole.
Assessing a bank’s culture is not an easy task, but there clearly is an increased emphasis on culture that is part of the regulators' broader focus on “heightened standards.” Learn what it takes to have a strong credit culture. Read about these 10 credit culture factors to assess your institution's credit culture.
2017-01-25 A Framework for Strengthening Your Nonprofit’s Investment Reserve ...Raffa Learning Community
Nonprofit Executives and their Boards know they must periodically review reserve or investment policies. They don’t always know, however, what’s involved. Through his work on the Study on Nonprofit Investing (SONI), Dennis Gogarty of Raffa Wealth Management has developed an easy-to-follow investment policy framework which will assist nonprofits in developing or strengthening their organization’s policy and procedures.
This document discusses various types of risks faced in investment and banking. It defines risk management as identification, analysis and mitigation of uncertainties. It then lists different types of risks like interest rate risk, market risk, inflation risk, etc. It also discusses the responsibilities of board and senior management in risk management and outlines the components of an effective risk management process including organizational structure, systems and procedures.
CAMELS is a tool used by US bank regulators to measure the financial condition of institutions. It assesses Capital adequacy, Asset quality, Management, Earnings, Liquidity and Sensitivity to market risk based on financial statements, portfolio aging, funding sources, business information, and cash flow projections. For example, capital adequacy ensures solvency by maintaining sufficient capital for risks in business, which can be measured by the capital growth rate of (current equity - prior equity) / prior equity.
This document discusses key elements of sound risk management programs for community banks. It outlines that risk management programs should include board and senior management oversight, policies and procedures to limit risks, risk measurement and monitoring systems, and internal controls. Specifically for liquidity risk management, it recommends having expertise in cash management and asset-liability committees, appropriate risk limits in policies, and contingency planning that considers liquidity crisis scenarios. The document also provides examples of liquidity risk measurement tools and outlines elements that should be included in a contingency funding plan.
This document summarizes a webinar presented by Mike Lubansky on stress testing loan portfolios. The webinar covered regulatory requirements for stress testing, the objective and importance of stress testing, different types of stress testing approaches for community banks, challenges with data collection, scenario selection, and maximizing the value of stress test reports. Sample stress test outputs were presented and common mistakes were discussed. The webinar provided an overview of effective stress testing practices for community banks.
Credit risk refers to the risk of a counterparty defaulting on their obligations. It is defined as the possibility that a borrower may fail to meet their obligations in accordance with the agreed terms. There are several components of credit risk, including the amount of the loan, quality of the loan, default risk, exposure risk, and recovery risk. Credit risk management is important for banks due to new financial transactions, decreasing government support, and regulatory capital requirements. Banks traditionally evaluated credit risk using the 5 C's of credit analysis and now also utilize internal credit rating systems.
Risk management in banks is important as banks are exposed to various risks in the changing Indian economy. The key risks include credit risk, market risk, operational risk, liquidity risk, and interest rate risk. Effective risk management involves identifying, measuring, monitoring, and controlling risks. Banks must have robust policies, strategies, organizational structures, and systems in place to properly manage risks like establishing risk limits, risk grading, and risk mitigation techniques. Proper risk management is essential for the long-term success of banks.
The Xavier Student Bond Investment Fund outperformed its benchmark, the Bloomberg Barclays US Government/Credit Bond Index, for the 6-month period from April 1 to September 30, 2016, returning 3.63% versus the benchmark return of 3.08%. The outperformance was attributed to the fund's overweight position in corporate debt and expanded allocation to high yield and mortgage-backed securities. As of September 30, the fund maintained a shorter duration than the benchmark and a higher allocation to credit positions, positioning it to potentially benefit from moderately rising interest rates.
This document is a resume for Syed Arif Raza, who has over 30 years of experience in finance, credit, risk management, and collection roles. He has held leadership positions at Standard Chartered Bank, Grays Leasing Ltd, PIC Leasing, and First General Leasing Modaraba. His experience includes credit approval, portfolio management, strategy development, and reducing bad debt. He has an MBA with a major in accounting and is a certified public accountant and certified skills assessor.
The board of directors is responsible for overseeing the bank's credit risk strategy and policies. They should approve a credit risk strategy that defines the bank's risk appetite. Senior management is then responsible for implementing this strategy through establishing a sound credit granting and administration process. This includes setting credit policies, limits, and criteria and monitoring loans. An effective credit risk management system involves identifying, measuring, monitoring, and controlling credit risk, and includes internal risk ratings, management reporting, and independent credit reviews.
This document discusses financial risk management approaches and criticisms of modern portfolio theory. It notes that qualitative risk management is important given human cognitive biases and irrational market behavior. The document critiques assumptions of MPT like rationality and normal returns. Modern risk measures like Value at Risk are flawed as risks are fat-tailed rather than normal. Scenario analysis and non-parametric estimates are recommended to better account for tail risks and model limitations.
What Basel says about Expected Credit Loss (ECL)Libby Bierman
In early February 2015, the Basel Committee on Banking Supervision (BCBS) issued guidance on accounting for expected credit losses (ECL). The guidance, which outlines supervisory expectations for transitioning to an expected loss model, serves as the next “piece of the puzzle” in deciphering what the FASB's impending Current Expected Credit Loss (CECL) model means for bankers.
The credit risk management team consists of Sanika Dixit, Shweta Vaidya, Sneha Salian, and Snehal Datta. Their goal is to assess and mitigate credit portfolio risks to reduce financial losses from borrower default. The BI solution enables accurate risk assessment, loss reduction, and faster reporting by analyzing key performance indicators like profit, customer growth, and credit risk at the region, product, and branch level.
David Cohen has over 15 years of experience in risk management and operational roles in the financial services industry. He has expertise in risk assessment, controls reviews, credit analysis, and ensuring adherence to regulations. Most recently, he provided operational risk and control support to UBS Bank AG and American Express, where he reviewed processes, risks, controls, and key risk indicators. Prior to that, he held risk management roles at Bank of New York Mellon, where he conducted risk assessments, developed risk dashboards, and engaged with compliance on risk oversight. He has a bachelor's degree in economics from Queens College.
Brian McCabe has over 15 years of experience managing client relationships and business development. He has held roles at Investec Securities, BNY Mellon, and Royal Bank of Canada focusing on trade surveillance, client management, and pricing/risk analysis. McCabe has experience developing strategic plans, marketing materials, and identifying new business opportunities to strengthen client relationships.
Lisa Lane is a Mortgage Leader with over 20 years of experience in business development, strategic planning, management, process improvement, and risk assessment. She has held various leadership roles such as Underwriting Manager and Lending Manager where she managed teams, improved processes, and increased revenue. Her expertise includes underwriting, training, auditing, and problem solving. She is currently an Underwriting Manager at Everbank where she oversees a team of 15 underwriters and ensures high quality and compliance.
Latrice L Escudero has over 17 years of experience in mortgage banking compliance and risk auditing. She is currently a Senior Lead Compliance Analyst at Prospect Mortgage where she is responsible for researching regulations, implementing policies and procedures, and investigating fraud cases and consumer complaints. Prior to her current role, she held various compliance and risk auditing positions at Highlands Residential Mortgage, Nationstar Mortgage, MetLife Home Loans, and JP Morgan Chase.
Bruce Evan Fox has over 30 years of experience in portfolio management, risk management, and derivatives trading. He is currently the Senior Vice President and Head of Portfolio Management and Derivatives at Genworth Financial, where he oversees $75 billion in assets. Previously, he held several senior risk management and trading roles at Citigroup and Travelers Insurance, where he managed large derivatives portfolios and teams of risk professionals. He has an MBA from Wharton and a BA from SUNY Binghamton.
Nicholas Peter has over 15 years of experience in financial services including portfolio management, credit analysis, product development, and risk management. He currently works as the Segment Head for MSME Propositions at Diamond Bank, where he is responsible for developing strategies to sell education products and sustain customer interest. Previously he held roles in retail monitoring, product management, and operations. Nicholas Peter has an MSc in International Marketing Management and Strategy and an MBA in Marketing.
Joseph R. Peiso has over 30 years of experience in accounting, finance, and insurance. He has held Chief Financial Officer roles at several insurance companies, and has experience with regulatory compliance, company acquisitions, financial analysis, and dispute resolution. Peiso's background includes positions at the North Carolina Department of Insurance, as well as experience as an auditor, controller, and owner of his own consulting firm.
Solution-oriented professional with extensive experience in leadership, client account management, enterprise/operational risk management, governance and advisory. Focus on building sustainable, scalable platforms, including development and improvement of policies, processes, and internal controls, overseeing and conducting RCSAs for first and second line of defense and reviewing third-party administrator controls. Demonstrated ability to adapt quickly to market conditions and to identify and act on important trends.
This document provides a summary of the professional experience and qualifications of Helen Chu Hamman. She has over 20 years of risk management experience in the banking industry, specifically in developing underwriting strategies, policies and procedures, and presenting performance reviews to senior management. Her experience includes positions as a Vice President and Credit Risk Manager at US Bank, and prior risk analysis, financial analysis, accounting and audit roles. She also has international experience working in Singapore and the Philippines.
Matthew Kilheeney has over 6 years of experience in credit analysis and risk management. As a Senior Credit Analyst, he is responsible for final credit review and authorization of over $32 million in new originations. He also helped detect and prevent $8 million of fraud. Previously, as a Credit Analyst, he reviewed over 3,000 files totaling over $98 million. He is currently pursuing a B.S. in Computer Science while bringing skills in credit risk analysis, data modeling, and leadership.
Peter Gettings is a risk and compliance management executive with over 10 years of experience in regulatory assurance and monitoring roles at major banks. He has spearheaded compliance programs and led reviews of anti-money laundering, know-your-customer, and other regulatory requirements. Gettings also has experience developing risk frameworks, conducting due diligence, and training staff. He currently holds a consulting role advising on compliance monitoring software and reputation management.
Roberta Allen has over 20 years of experience managing fraud operations and projects in the banking and financial services industries. She has a proven track record of reducing costs through process improvements and staff restructuring initiatives. Allen is skilled in project management, process optimization, and developing policies and procedures to ensure regulatory compliance.
Kelly Dreishpoon is an experienced operational risk management and compliance professional with over 20 years of experience in audit, consulting, and risk governance at various financial institutions. She has a strong background in establishing controls and ensuring regulatory compliance, especially regarding anti-money laundering requirements and lending practices. Her experience also includes implementing risk management systems, performing risk and control assessments, managing operational losses, and supporting business units with compliance and risk remediation.
Joseph R. Peiso is a CPA and CPCU based in Sarasota, Florida. He currently serves as Chief Financial Officer of United Insurance Holding Corp. His experience includes over 30 years in insurance finance and regulatory roles, including positions at several insurance companies and the North Carolina Department of Insurance. He has extensive experience with financial reporting, modeling, regulatory examinations, and transaction support.
Maxohlhaut has over 10 years of experience in financial crime compliance and internal auditing. They currently work as an Audit Leader for Wells Fargo focusing on BSA/AML compliance and remediation efforts to address regulatory consent orders. Previously, they worked as a Senior Global Financial Crime Compliance Specialist at Bank of America conducting complex fraud investigations, identifying control weaknesses, and facilitating suspicious activity reporting. Maxohlhaut also has experience in internal auditing, process improvement, risk-based auditing, and ensuring Sarbanes-Oxley compliance during audit rotations at Bank of America. They hold a Bachelors degree in Business Administration and are a Certified Fraud Examiner with additional Lean and Six
Mindy Kaplan is an experienced internal auditor and SOX compliance executive with an MBA in finance. She has 20 years of experience in internal audit, SOX compliance, and enterprise risk management at major financial institutions. She is skilled in process analysis, risk assessment, project management, and internal controls. Currently, she works as an independent contractor providing audit, compliance, and consulting services.
Francis Wong provides a concise personal resume summarizing his professional experience and qualifications. He has over 20 years of experience in consumer finance and banking, including managing a consumer finance company in China. His core strengths include strategic thinking, relationship building, and developing others. He holds several professional certifications and has worked in leadership roles in credit cards, personal loans, business planning, and project management at Standard Chartered Bank across Asia.
Yin Zhang has over 10 years of experience as a credit analyst and loan underwriter, currently working at OneMain Financial where she analyzes credit reports and financial statements to determine risk and make underwriting decisions, manages a portfolio of over 200 clients and $1.15 million in loans. She previously worked as a commercial insurance underwriter at State Farm Insurance and had an internship at Genworth Financial where she led a customer relationship database project. Zhang holds a Bachelor's degree in Finance from Wake Forest University and is fluent in both English and Chinese.
A good risk appetite implementation process leverages existing practices, represents the aggregate view of risk across all lines of business and risk categories, and creates a dynamic structure that allows for internal and external changes in risk. Learn more about the 10 aspects of a robust and evolving risk appetite framework in this excerpt from the Credit Risk Management Audio Conference Series.
Diane M. Vandenberg is a mortgage executive with over 25 years of experience in underwriting, risk assessment, loan management and customer service. She has held positions as a relationship manager, mortgage banker, operations manager and team leader. Vandenberg is skilled in financial analysis, negotiation, and managing teams to maximize recovery and profits while minimizing losses. She has a Bachelor's degree in Finance and seeks a new opportunity to utilize her skills and experience.
Similar to 2016.KarenARockoff.resume.November (20)
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.
1
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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