Highly qualified Executive Manager offering more than 17 years of operations and regulatory compliance experience in the financial services industry. Results-focused leader with a proven ability to navigate complex regulatory environments and keep institutions out of legal/regulatory jeopardy. Talent for proactively identifying and resolving problems, reversing negative trends, controlling costs, streamlining processes, maximizing productivity and developing comprehensive programs to monitor rapidly changing regulatory environments. Seventeen year track record of no regulatory fines, penalties, enforcement actions, Memorandums of Understanding or license suspensions or revocations.
Jul 2011 - Present
Executive Director and Chief Compliance Officer for Morgan Stanley Private Bank, NA (MSPBNA). Responsible for day-to-day compliance oversight and control for all MSPBNA consumer banking products offered to Morgan Stanley clients. Coverage includes, but is not limited to, mortgage loans, portfolio loan accounts, tailored lending, CD's, savings accounts and personal trust services.
Mar 2010 - Jul 2011
Head of compliance for the following Bank of America/Merrill Lynch Global Wealth and Investment Management business units; U.S. Trust, Merrill Lynch Credit Corporation and Banking & Merrill Edge. Manage team of more than 25 compliance professionals throughout the United States and abroad. Provide day-to-day compliance advice and guidance to multiple lines of business. Coordinate all regualtory examinations and maintain comprehensive risk assessment program to help mitigate the inherent risks associated with regulatory compliance.
U.S. Trust, Bank of America Private Wealth Management, provides investment management, planned giving, and fiduciary services to a range of institutional clients, including not-for-profit organizations, corporations, public funds, insurance companies, and unions. The company provides wealth management services that include investment, financial, tax, and estate planning; and private banking services. Its planned giving services include administration, tax preparation, and record-keeping. It also offers investment consulting, tax-intelligent investment management, custody and private-label statement, and check distribution services. U.S. Trust also provides investment management, trustee, and fiduciary consulting services to employee benefit plans of all sizes. It serves as a fiduciary for qualified retirement plans, including 401(k) plans; employee stock ownership plans (ESOPs); and defined benefit plans that invest in blocks of employer securities. In addition, in its fiduciary role, the company makes investment decisions; and acts as an independent trustee protecting the interests of plan beneficiaries.
Nov 2007 - Mar 2010
Director - Chief Compliance Officer
Direct oversight of the Compliance Department for Merrill Lynch Bank & Trust Co., FSB. Actively monitor the day-to-day lending operations of Merrill Lynch Bank & Trust Co., FSB. Monitor, analyze and develop all policies and procedures needed to ensure effective compliance with state and federal regulations. Technical and operational expertise in most state and federal banking regulations, including BHCA, HOLA, ECOA, RESPA, FCRA, HMDA, FACTA, GLBA and CRA. Direct reporting responsibilities to the bank's Board of Directors and Audit Committee. Chair of the Compliance and Operational Risk Committee and the Fair Lending Committee.
- Successfully manage all state and federal regulatory examinations and maintain relationships with key regulatory agencies, including the OTS, OCC and FDIC.
- Develop detailed tracking and analysis processes for the rapidly changing regulatory environment.
- Develop and implement the Board approved Regulatory Compliance Risk Management Program, which includes a formal Risk Assessment Program, Fair Lending Program and detailed management reporting.
- Participate in state and federal trade associations, including AFSA, MBA, SIFMA and ASF.
- Work closely with Government Affairs to stay actively involved in the legislative process, including visits to Washington DC on an as-needed basis to discuss key legislative initiatives with congressional staffers.
- Retain talented, committed employees and recruit new talent to support operational growth.
- Develop and maintain a multi-million dollar departmental budget, with a focus on cost cutting and maximizing efficiencies.
May 1998 - Nov 2007
Vice President - Chief Compliance Officer
Direct oversight of the operations and compliance functions for CIT's Specialty Finance Unit. Actively monitored the day-to-day operations of CIT's home lending, student lending and CIT Bank portfolios. Monitored, analyzed and developed all procedures needed to ensure effective compliance with state and federal regulatory changes. Technical and operational expertise in state and federal banking regulations, including BHCA, ECOA, RESPA, FCRA, HMDA, FACTA, GLBA and CRA.
- Successfully managed the conversion from a privately held, state-licensed lending institution to a publicly traded Fortune 500 finance company subject to the Bank Holding Company Act.
- Successfully managed all state and federal regulatory examinations.
- Effectively managed the Quality Control, Training, Licensing, Doc Prep and Procedures departments for the mortgage lending, student lending and CIT Bank operations.
- Maintained corporate good standing for all legal entities.
- Maintained Board seats in several state and federal consumer finance trade associations, including AFSA and MBA.
- Retained talented, committed employees and recruited new talent to support operational growth.
- Coordinated company participation in the Coalition for Fair and Affordable Lending ("CFAL").
- Worked on the Legislative Drafting Committee of CFAL.
- Achieved great success in Washington D.C. educating congressional staffers about the impact of federal, state and/or local lending laws on the availability of consumer credit.