1. RICHARD E. KRAUSE
CFSA, NASD Financial and Operations Principal (Series 27)
11 Walnut Lane
Manalapan, New Jersey 07726
Home (732) 792-0413
rich.krause@ymail.com Cell (732) 567-0961
SUMMARY
Task-oriented audit executive with broad experience in the financial services industry as well as real estate. Audit experience
and strengths include Commodities, FX, Emerging Markets, OTC Securities, Municipals, Real Estate, Derivatives, Mutual
Funds, Treasury Activities, Regulatory Reporting, AML and Sarbanes Oxley Compliance. Functional areas include Financial
and Product Controlas well as Trade Processing and Operations. Other strengths include operations analysis, department
administration, and project management. Maintain a strong knowledge of the COSO framework. Ability to multi-task and
manage a variety of projects. A “Hands On” management style as needed depending on the project and staff skill sets.
Involvement in various PMO’s throughout my career including SOX implementation and AML compliance. Prepared and
delivered audit committee presentations to senior management. Developed corrective action plans for management on business
issues identified. I have managed a staff of 15-20 audit professionals. Responsible for recruiting and hiring audit professionals.
Strong written and oral communication skills. I have also worked closely with Public Accountants to coordinate both internal
and external audit efforts.
PROFESSIONAL EXPERIENCE
Senior Consultant 12/2013-Present
Client List in Chronological Order:
 Community Bank in Pa. 7.1 Billion in Assets, documented SOX controls and performed detail control testing.
 Major Global Banking Institution-Validation work related to the implementation of audit issues.
 Royal Bank of Canada- GSE annual audit work-FNMA, Freddie MAC, FFCB and FHLB.
 Israel Discount Bank- performed an audit of Treasury Investments.
 Federal Home Loan Bank of New York (FHLBNY) Evaluated SOX controls and performed detail control testing on
the Derivatives Trading Desk, Credit Desk, Operations and Financial Accounting functions. Completed SOX 404
testing, prepared work papers for Public Accountants, identified any issues and made recommendations to senior
management.
TD Bank North America, Retail Banking, Cherry Hill, NJ 2012-2013
Vice President, Audit Manager II, Corporate Audit
Assessed the adequacy and effectiveness of the internal controlstructure within the Retail Banking Sector. Audit and risk
reviews include Treasury Cash Management, SOX Compliance, and Wire Transfer Processing.
Prepared audit planning documentation, developed test documentation, executed audit testing and prepared audit reports for
senior management.
Prepared Control Dashboards for senior management on a quarterly basis.
Monitored the status of outstanding findings, corrective action plans and remediation.
Validated corrective action plans for FRB and OCC related issues raised, specifically MRIA’s and MRA’s.
CITIGROUP Inc., Institutional Clients Group, Capital Markets and Banking, New York, NY 2007-2012
Vice President, Audit Manager, Audit and Risk Review
Assessed the adequacy and effectiveness of the internal controlstructure within the Institutional Clients Group, Capital Markets
and Banking related activities. Audit and risk reviews include Commodities, FX, Emerging Markets, Canada Capital Markets,
Treasury related activities and Regulatory Reporting. Functional areas include Financial and Product Control as well as Trade
Processing and Operations.
Prepared Audit Committee Presentations for the Canada Capital Markets legal vehicles.
Prepared audit planning documentation, developed test documentation, executed audit testing and prepared audit reports for
senior management.
CUSHMAN AND WAKEFIELD Inc., Global Real Estate Solutions New York, NY 2006-2007
Director Internal Audit
Assessed the adequacy and effectiveness of the internal controlstructure within the Client Solutions Property Management
Group.

2. Reviewed policies and procedures to develop risk controldocumentation and testing methodologies that ensure compliance with
stated procedures.
Reviewed Brokerage Governance Policies and evaluated the methodologies utilized to pay brokerage commissions.
Prepared Audit Committee Presentations.
Developed a COSO based risk model to assist in the annual audit planning process.
Implemented a whistleblower hotline initiative.
Reviewed and evaluated financial and operating reporting disclosures to holding company on a quarterly basis.
Also conducted special projects and internal investigations at the request of senior management.
MORGAN STANLEY AND PRE MERGER DEAN WITTER REYNOLDS INC., New York, N.Y. 1989-2005
Executive Director Internal Audit (1999-2005)
Directed assessment of the adequacy and effectiveness of the internal controlstructure within the Individual Investor Group.
Audits included Commodities, OTC Securities, Municipals, Real Estate, Derivatives and Mutual Funds. Functional areas
include Financial and Product Control as well as Trade Processing and Operations.
Directed the Audit Software Development Group that is responsible for utilizing SAS to perform computer assisted audit
techniques such as recalculations and extraction of samples for compliance testing. Managed staffing resource levels and
performance. Participated in various Project Management Offices.
Directed consultants and internal audit staff in testing all controls for effectiveness with financial statement impact. Critical in
implementing Sarbanes Oxley related regulations.
Directed, implemented, and completed on an annual basis the Morgan Stanley (firm-wide) Anti-Money Laundering Audit
program (e.g., Patriot Act, SAR, KYC).
Instrumentalin developing and refining, the departments three-year audit plan and risk assessment methodology.
Presented quarterly audit summaries to Firm Senior Management and developed presentations for Audit Committee.
Tracked and tiered audit issues/actions according to the level of severity and ensured implementation.
Investigated securities and fraud related matters pertaining to forensic investigations and identified controlpoints that could
prevent recurrence.
Vice President Internal Audit (1997-1999)
Managed a staff of 15-20 Auditors, providing coaching and developmental feedback to Managers and Assistant Vice Presidents.
Developed the annual Internal Audit Department budget including projecting all related expenses such as staffing, fixed
expenses as well as travel and entertainment. Developed the branch audit approach, which focuses on testing the effectiveness
of operational controls relating to processing trading errors, funds disbursed and received, securities handling as well as new
accounts. Coordinated on site regulatory inspections providing required information to the NYSE, NASD and the SEC.
Senior Staff to Assistant Vice President Internal Audit (1989-1997)
Managed financial and operational audits including trading, clearance and settlement, controllers as well as compliance related
audits such as registration, retail surveillance and blue sky. Responsible for conducting special investigations in fraud related
cases identifying root causes and ensuring the implementation of controls to mitigate risk of recurrence. Provided tutoring and
mentoring to entry-level audit staff in order to develop audit skills and techniques.
SECURITIES SETTLEMENT CORP. 1986-1989
Senior Auditor
Conducted audits of clearance and settlement operations for this small to mid size broker-dealer clearing firm.
PAINE WEBBER 1983-1986
Internal Auditor
Performed branch audits throughout the United States areas of audit focus included trade execution and suitability, error
handling, funds received and funds disbursed and securities handling.
EDUCATION, CERTIFICATIONS AND RELEVANT INFORMATION
BS Economics, City University of New York, College of Staten Island
NASD Financial and Operations Principal Series 27
Certified Financial Services Auditor: Institute of Internal Auditors
Manalapan Soccer Club Board of Directors 2003-2004
Manalapan Youth Football Association-Pop Warner Coach 2005-2010