Financial Services Enterprise Risk

George J. Szotak - MBA

Madison, NJ 973-***-**** **********@*****.***

https://www.linkedin.com/in/george-szotakjr/

CAREER INFORMATION

Over 25 years of leadership experience in risk-oriented roles as a trusted advisor working for prominent investment and banking institutions. Superior knowledge of end-to-end processes, accounting, data, payments and record-keeping involving global investment products, assets and loans. Expert with respect to identifying, detecting and mitigating risks with a strong technology and project acumen. Experience includes implementing enterprise risk framework, RCSAs, KRIs and risk appetite statements. Direct experience working on regulatory remediation (SEC, FRB), consent orders and exams, complex technology change

and audit findings. Performed quarterly risk reviews of strategic growth and transformation initiatives, product reviews and assessed divisional risk profile, ratings and emerging risks.

Further, provide 10 plus years of experience testing the design and effectiveness of internal controls using auditing principles. Worked directly with “Big Four” partners to establish operational controls supporting independent audit reports. Progressive career included assignments covering compliance roles, project management activities, implementing resiliency plans, privacy policies, records management and vendor risk programs.

Wells Fargo and Company

SVP, Enterprise Risk Management Commercial Banking 2019-2024 Supervised risk activities, business change, products, control enhancements, RCSAs, compliance matters and regulatory activities covering the commercial banking, corporate trust and capital investment division providing complex financial solutions. Independently rated and credibly challenged inherent risk, internal controls and residual risk ratings for global financial products under the OCC’s heightened standards.

•Executed against timely regulatory commitments to close several consent orders to embed a proper risk culture and improve regulatory impressions of the bank.

•Led key project for the de-risking of higher risk country assets (some 15k deals) to align corporate and credit risk appetite.

•Served as the most senior risk leader over the successful and complex sale of corporate trust services to an outside firm. Escalated, assessed and mitigated conversion activities.

•Provided risk-based recommendations, to improve risk ratings, during quarterly reviews of strategic growth initiatives, annual product reviews; and, assessed division’s risk profile, ratings and emerging risks. Performed analysis, recovery and resolution planning and other “playbook"scenarios (i.e., Silicon Valley Bank situation and COVID strategy).

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•Attended committees and technology sessions to identify and discuss risk matters, metrics (KRIs), issue remediation, application changes and escalated events.

•Identified risk aspects and concerns covering the successful transition from LIBOR rates to alternative rates working directly with technology and business leaders.

•Eliminated 50 percent of end-user developed computing tools after assessing risks.

•Supervised customer complaints and subsequent remediation payments, as applicable.

•Assessed large and visible external frauds reporting results to the chief risk officer earning positive remarks and praise due to the level of detailed discovery within the findings.

Bank of NY - Mellon 2000 - 2018

Director, Head of Embedded Risk Management - Investment Services

Head of internal controls and regulatory matters for global retail and related products (hedge funds, ETFs, mutual funds and global product equivalents). Specifically, supported prominent industry clients and controls over record-keeping, transactions, accounting, settlements, fund compliance and reporting requirements. Worked directly with "Big Four” firms to facilitate the release of critical semi-annual SOC1s for client usage. Successfully closed visible regulatory issues and shared updates with the OCC, SEC and FED members (e.g., multi-billion dollar repository trade error). Implemented, updated and monitored RCSAs, KRIs and control remediation activities.

•Resolved client, accounting, settlement and fund matters working with senior relationship executives (e.g. a privacy matter involving a major hedge fund. Visible technology outage involving market / NAV calculations and any other escalated client priorities). Presented controls to board or client executives.

•Served as “CCO liaison” to 20 plus client compliance officers needing to understand policies, procedures and controls for regulatory acts such as Sarbanes Oxley.

•Used auditing principles with respect to testing the design and effectiveness of controls; issued audit-type reports and tracked management’s actions findings.

•Implemented new technology (e.g., SunGard-FIS system) to automate controls thus saving millions of dollars, annually, by eliminating over 5,000 manual spreadsheets.

•Created governance and internal controls covering robotic processing automation.

•Led all divisions of the bank (e.g., Wealth Management, Custody, Pershing) with implementing changes and to close a major audit finding covering ledger reconciliations.

•Selected to join a due diligence team that resulted in the merger of BNY and Mellon.

•Led a fraud analytics project with Deloitte to assess potential fraud “red flags.”

•Facilitated all business resiliency plans and tests that included remote site readiness. Managed 7-10 actual crisis events ensuring critical functions could be performed.

•Directly coordinated SEC exams on a periodic basis.

•Implemented and managed vendor risk program for the division (~5,000 staff members).

•Established and implemented privacy ratings, training and controls for customer information; and, implemented suspicious activity reporting procedures.

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OUTREACH AND SERVICE

Diversity Mentor - "Guys Who Give", Morris County, NJ - Created and Fund HS Scholarship

EDUCATION

Seton Hall University, South Orange, NJ; Master of Business Administration (MBA), Finance

Kean University, Union, NJ; Bachelor of Science (BS), Management

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