Having procedures in place can lessen the risk of defaults.
Immeasurable complications can occur when a natural disaster strikes. These complications can affect both consumers and the financial institutions that they work with. Hurricanes Harvey, Irma and Maria severely affected millions of consumers and have been notably detrimental for low income families. This type of natural disaster can cause financial burden for years and many consumers and business owners will struggle to deal with the aftermath. This white paper reviews how financial institutions are in a unique position to assist consumers in times of distress and help lighten the adverse impacts of natural disasters.
Agenda
Faculty
Beji Varghese
Guidehouse Inc.
- Partner in the banking, insurance, and capital markets practice at Guidehouse
- Specializes in the areas of governance, risk, and compliance and has advised multiple companies in the design and implementation of effective financial reporting internal controls
- Led multiple FCRA projects, including policy and procedure reviews, assessment of the accuracy of the Metro 2® files submitted to CRAs, and operational assessments of the Metro 2 file creation and e-Oscar dispute processes; he has also led teams responsible for the development of business requirements and technical system requirements designed to be compliant with CDIA guidance around Metro 2 reporting
- Led credit reporting reviews, risk and compliance reviews, distressed workouts, consent order reviews, and lending best practice reviews for top 20 U.S. consumer finance companies
Casey Stott
Navigant Consulting, Inc.
- Senior consultant in the Charlotte, NC office of Navigant Consulting’s banking, insurance and capital markets practice
- Assisted as the independent consultant on three CFPB consent order engagements related to credit reporting which included an assessment of each furnisher’s policies and procedures, existing staffing and training, and testing a sample of tradelines reported to the CRAs
- Performed a current state assessment of credit reporting activities (including policy and procedure reviews, tradeline testing, user acceptance testing, and a review of disputes operations) for 3 of the top 5 captive auto finance companies
Emily Ness
BRG
- Senior Managing Consultant in the Financial Institutions Advisory practice at Berkeley Research Group and is based out of the New York City office
- Works primarily for consumer lending clients and has extensive experience with enterprise risk management, third-party risk management, Fair Credit Reporting Act (FCRA), and regulatory compliance
- Developed a third-party risk management program for a Community Bank’s fintech program as part of a formal agreement with the OCC and oversaw the implementation of the Bank’s fintech IT oversight and the BSA / AML program
- Helped remediate regulatory issues and findings at several financial institutions and has experience designing and implementing issue management programs
- Has worked with multiple financial institutions including Top 20 US banks and large auto lenders to review current state business processes, perform risk as-sessments against state and federal regulations, implement centralized business units to reduce regulatory risk, draft policies and procedures, and perform loan-level testing
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