A results-driven financial services executive experienced in the genre of Internal Controls and meaningful Risk Analysis and Assessment, seeks a position in Audit Management or Risk Management. Dennis has experience both managing and performing various types of risk-based audits including Regulatory Compliance, Sarbanes Oxley (Sar-Box) and BSA/AML. Also knowledgeable in various regulations (incl. FACT Act, FCRA, Reg. Z, Reg. B, Reg. D, FDCPA, RESPA, FINRA (various), FAS 133, FAS 115, APB 21, FAS 140, FIN 46R). Product experience includes mortgage loans, consumer loans, securities (e.g., treasuries, CMO), borrowings, derivatives. Systems experience includes FIServ Signature (Loans and Deposits), FIServ Prologue (GL), Nautilus, SAP (GL and Accounts Payable), Trade Order Management System (FISS), SQL and Access.
Sterling National Bank April 2017 to Present
Vice President –Audit
Managed Internal Audits involving Treasury (including securities purchases & sales), Consumer Loan Operations and Compliance, Asset and Liability Committee (ALCO), Regulatory Reporting (incl. Call Report, FR2900, FR Y-9C) and Procurement.
Successfully wrote audit programs, performed test work, wrote audit reports and identified control issues.
Performed Quality Control work using systems including Fiserv Signature and Nautilus: recalculating and proving interest rate adjustments to demand and savings accounts, confirming delinquent payment data and interest rates (compared to contract).
Producing risk assessments, which includes a combination of both qualitative and quantitative components.
Trained lower-level auditors on topics such as: selecting samples, cross-referencing, writing audit reports and following up on audit observations and SOX remediation.
Recommendations included: Linking purchase orders to invoices to avoid unbudgeted expenditures; improved mapping involving reserve allocation deposits for Call Report - $255 million impact; improved pivot table involving residential loan categories for Call Report - $46 million impact; further research of negative deposit balances to confirm overdraft positions; more extensive use of AP Workflow to automate approvals and prevent unauthorized purchases; following up with loan officers on loans over 60 days delinquent; confirming compliance with applicable regulations for delinquency notice templates; automating generation and delivery of delinquency notices (from the Loan System (FIServ); frequent comparisons between reports (i.e., FR2900, Call Report, FR Y-9C) followed up with immediate mapping revisions (to avoid additional re-filings).
AIG March 2015 to March 2017
Senior Audit Manager
As part of reg. reporting Quality Assurance (QA) confirmed amounts distributed to preparation business units (from ledger and source systems) to the amounts reported on various line items for regulatory schedules (FR Y-9C, FR Y-11, FR2314).
Managed and performed Sarbanes-Oxley (Sar-Box) audits involving Investments and Treasury, including: confirmation of debit account setup and maintenance, confirming rate resets, segregation of duties for transactions and confirmation of balances and transactions to supporting documentation,
Provided review comments and coaching to off-shore team performing Sar-Box Investments and Treasury audit procedures,
Successfully identified Key Controls, completed narratives and Visio process flow documents,wrote test scripts and performed test work for Federal Reserve Reporting (FR Y-9C and Legal Entities (i.e., FR Y-11, FR2314)),
Recommendations included: Segregation of duties for term changes (entry vs. approval); a system or process for tracking revisions to intercompany loans; QA - tracking data dispersed for regulatory reporting (to avoid double counting); reconciling the hierarchical system to the legal entity reporting system for improved reporting; a tracking spreadsheet to identify and communicate open commitments; testing of system scripts used to generate reconciliation e-mails; reconciliations of general ledger back to source systems.
UBS October 2014 to March 2015
Director, Quality Assurance (QA)
Researched critical Financial Reporting metrics and developed control assessments to identify areas requiring detailed testing,
Reviewed manual adjustments and the impact on issues involving regulatory reporting,
Planned and managed specific testing strategy for high risk areas involving FRB reports (including FFIEC-002),
Managed and performed end-to-end testing techniques, of system results back to source documentation (using Axiom),
Recommendations included: More detailed audit planning/requests for attribute testing (e.g., system names, required fields); providing possible alternative systems solutions to existing manual adjustments (e.g., hierarchical changes, expanded client set up menus); articulating design versus operating deficiencies in existing controls; continual tracking of reporting issues through subsequent reporting periods to confirm resolution.
DGT Consulting, LLC 2003 to October, 2014
(Types of Audit in bold italics, Client names bolded)
Regulatory Compliance Audits
Developed, enhanced and tested regulatory compliance audit programs for client (Chase) involving areas of Mortgage Banking [i.e., Settlement Procedures (RESPA), Truth in Lending (Reg. Z), Equal Credit (Reg. B), Fair Debt Collection (FDCPA)], Deposits (Reg. D), Electronic Funds(Reg. E), Investment Advisory Contracts (Advisers Act), Security Markups & Markdowns (1934 Act Rule 10b-5) and other Banking and Broker Dealer (i.e., FINRA),
Recommendations included: Automation of Conversion Letter mailing, additional control formulas involving mail-out checklists, data quality checklists involving documentation of third party mortgage servicers, timelier follow-up with third party mortgage servicers for documentation not received (e.g. Validation of Debt (VOD), Welcome Letter, etc.).
Developed audit programs for Insurance Regulatory Reporting engagement (AIG) to confirm accordance with Insurance regulations for various regulatory reports (e.g.BE-10, BE-11) and to confirm information back to source documentation.
Recommendations included: More enhanced checklists, providing additional points of cross-reference to vital source documents, confirming compliance with other regulatory reports (e.g., 10K, 10Q).
Sarbanes Oxley Audits
Led Sarbanes Oxley engagements of Financial Institutions (including: Amalgamated Bank, Hudson Valley Bank), involving Products such as Derivatives, Loan Loss Reserve, Commercial Loans and Securities/Borrowings. The audits were risk-based, monitoring risk factors before and during testing; in addition to providing assessments of both credit and interest-rate risk.
Recommendations included: More thorough, risk-based review of SWAP counterparty contracts, policies for LTV Calculations, more up-to-date credit file financials, more accurate LLR calculations (risk-based including rate and specific identification), “back dating” of entries, more frequent (independent) securities confirmations, authorizations for write-offs.
Led BSA/AML audits, which included SARs, CTRs and OFAC screening and reporting for various Financial Institutions (including: First Bank, New Millennium Bank, Two River Community Bank).
Recommendations included: establishing multiple risk-based thresholds with elevated approval levels, accumulating transactions which collectively exceed specified limits, risk-based levels of wires authorizations, ability to track multiple SARs for one account, more thorough and updated BSA/AML risk assessments.
Developed a series of BSA/AML audit programs and work papers to assist client (HSBC) in the audit planning process. Led a team of individuals working towards resolving complex AML audit issues.
Recommendations included: replacing manual input with a direct link from risk rating model to CIP database, a systematic change within CIP system, which would flag high-risk accounts and alert Account Review Team, prior to account opening.
Internal Audits - Other
Developed Internal Audit programs and reviewed test work for client (ICS) involving Remote Deposit Capture, Branch Audit and Notes Operations
Recommendations included: Certifications (include all accounts, formal review), need for additional cash limit reporting, a more thorough and updated risk assessment.
Was key player in Audit of reconciliations (BNP Paribas).Provided risk-based analysis: identifying aged items, unexplained differences and systems interface issues. Managed and improved process, using Excel Pivot Tables, V-Lookups and filtering to provide analysis of reconciliations.
Performed Compliance audit work on Loan and Deposit products for Central NJ Banks (e.g., First Bank, New Millennium, Two River), involving: Loan Regulations: B- ECOA/Fair Lending, Z-Truth in Lending, X- RESPA, Deposit Regulations:
D- NOW Accounts and MMDA, E- Electronic Funds Transfer, DD-Truth In Savings Act.
External Audit Assistance
Provided vital confirmation for external auditors, for clients (Navistar International, Owens Corning) developing key reconciliation and presentation of general ledger entries/balances to restatement documents, and to external documentation.
Identified issues concerning: timing and misclassification of entries, and improved reconciliations involving two dimensional (roll-forward) formats, issues concerning missing or inadequate documentation.
KPMG 1998 to 2003
Key participant on Sarbanes Oxley engagement involving ledger to sub-ledger reconcilements. Recommendations included: Confirming accuracy of data feeds prior to reconciliation, and providing for aging of reconciling items.
Key player in merger/integration project for financial reporting including preparation and review of filings (e.g., 10-K), and reconciliation of merged financial data (using Hyperion). Recommendations included: internal control issues (e.g., authorizations, more reconciliations), closing entries(e.g., entry timing, systems rejects) and data issues (e.g., duplications, bad table-links).
Led a Management Reporting engagement involving profit plans, treasury variances and inter-company. Recommendations included: process/system changes (e.g., duplicate entries, bad table links) and making correcting entries (approx. $30 million). This led to a subsequent MIS implementation (PeopleSoft) engagement.
Managed product profitability implementation (PeopleSoft); having the role of Functional Project Manager. Monitored processes (e.g., ETL, algorithm coding) and created (mortgage loan) algorithms. Recommendations included: improved reporting formats, data qualify issues be addressed with Data Warehouse committee and size requirements be integrated into the design (cost savings – over $100 thousand).
Led a Regulatory Reporting engagement, identifying several issues including: erroneous reporting classifications and questionable downloads, (approx. impact $2 million). This lead to a subsequent data analysis engagement.
Key player on engagements of US GAAP regulatory compliance (entries & reporting) including FAS 115 (investments) & FAS 133 (derivatives).
Bank of America 1993 to 1998
Last Position Held: Technology Controller
Directly managed team of 5, and was responsible for (all aspects) of Technology Finance, including: internal controls, management presentation, project management, earnings analysis, NPV/IRR analysis, benchmarking, profit planning (incl. payroll).
Developed inter-company income projection (models) and confirmed billing volumes/expenses with LOB. The review and auditing of these billing costs led to cost reductions totaling $10 million.
Directed task force (which includes working with & training LOB) to implement new budget input and control systems. The new budget input and control system, allowing for tracking of budget expenses by project. Using the new system discovered budgeting reductions totaling $6 million.
Worked closely with LOB and technology areas to implement technology projects from investment analysis (including per unit analyses), to accounting compliance, to project tracking, to LOB billing.
Reviewed proposals from consultants and leasing vendors and was part of various selection team(s).
Chase 1981 to 1993
Last Position Held: Bank Officer – Financial Analysis
Managed team (of approx. 8) in the earnings forecast process including book-closings, product allocations, variance analysis, accruals of various loan and deposit products (incl. Treasury & Commercial Loans, Loan Sales/Securitizations (FAS140)).
Reduced forecast closing cycle by approx. 15%, through improved processes (e.g., closer tracking of accruals)., and additional analysis (e.g., more extensive and frequent variance reporting).
Implemented product profitability to Treasury Investments & LOB (e.g. Commercial Loans), which includes full FTP, charge-offs/loan reserve, interest, provision, expenses (includes allocated costs; i.e., ABC).
Designed Management Reporting packages, which were used for management presentations and earnings calls.
Developed models to improve forecasting accuracy of both deposit and loan products (e.g., loan loss reserve–impact $5 million).
Resolved technology & regulatory issues involving FRB position - substantial balance sheet impact.
Client Experience: While at DGT Consulting, LLC & KPMG
ING, AIG, HSBC, BNP Paribas, AT&T, Amalgamated Bank, Navistar International, ICI Chemicals, Chase, Owens Corning, Nationwide Insurance, CitiBank, Washington Mutual, Deutsche Bank, Goldman Sachs.
Certifications & Education
Completed 1st Level of CFA (Chartered Financial Analyst)
Certified Anti-Money Laundering Specialist (CAMS)
Certified Information Systems Auditor (CISA)
Certified Internal Auditor (CIA)
Certified Public Accountant (CPA)
MBA Capital University, Columbus, Ohio
B.B.A.(Accounting) Ohio State University; Dean’s List, Beta Gamma Sigma
Spreadsheet – Excel; macros, pivot table reporting,
v-lookups, filters, concatenation, “if statements”
Presentation – Microsoft PowerPoint
Word Processing -- Microsoft Word
Reporting – Axiom, Hyperion, PeopleSoft, Great Plains, MAS 90, COGNOS, Trade Order Management System (FISS).
Communication -- Outlook, LOTUS NOTES
Expense Mgmt. (T&E) – Concur
HR Reporting – PeopleSoft
Process Flow – VISIO
Project Management -- Microsoft Project
Database --ESSBASE, ACCESS Query, SQL Query
Mainframe --CICS, NOMAD, FOCUS
Budgeting /Forecasting -- MSA, EAS/BPS
Client database reporting – Fiserv Signature, Nautilus
General Ledger/AP – SAP, FIServ (Prologue)
Loan & Deposits – FIServ (Signature)