Data Strategy Vice President
Resume:
JOHN KORFIAS
Newton, MA *****
*********@*****.***
Experience
STATE STREET CORPORATION Boston, MA March 2022 – Present
Managing Director – Finance Data Operations and Strategy
Established a comprehensive data strategy for Finance that was designed to modernize Finance across all data dimensions; currently driving balance sheet data strategy targeted to rationalize multiple databases to a cloud based solution
Established and currently executing on an enterprise wide strategy for Climate Data that is targeted for estimating State Street’s carbon footprint and enable disclosure requirements
Developed a strategy and a program to establish single source of truth for State Street’s $42+ Trillion in Assets Under Custody
Managing a global team located in India, Poland, Munich and Boston of Business and Data analysts responsible for solutioning, requirements definition and story grooming in collaboration with Technology to efficiencies, meet regulatory requirements and analytics
Significant interaction and engagement with Regulators across multiple jurisdictions and with internal Sr Management to communicate and socialize our data strategy, provide updates on our continuous areas of improvement, identification of issues and challenges as well as proposed solutions to overcome obstacles, maintain deadlines targets and stay within budget
STATE STREET CORPORATION Boston, MA March 2015 – March 2022
Vice President – Corporate Finance and Basel Policy
Executed on multiple data driven initiatives to meet regulatory reporting obligations across multiple jurisdictions that required establishment of a Big Data Platform to combine large, complex data sets, and to run regulatory prescribed calculations and aggregations
Leveraged data lake capabilities to move from a monthly to daily regulatory capital calculations that resulted in a $1 million save through retirement of a legacy vendor based tool and associated license and reduce processing time from 8 hours down to 45 minutes
Established a robust data governance program that documented detailed data lineage for all in scope critical data elements under Basel III and SCCL to ensure compliance with BCBS 239 principles related to risk data aggregation and reporting
Implemented a comprehensive framework to enable first and second line functions to conduct a self-assessment of their effectiveness in complying with Basel III regulations for presentation to State Street’s Board of Directors
FHLB BOSTON Boston, MA February 2012 – March 2015
Assistant Vice President – Credit Risk Management
Led the oversight of the Bank’s risk monitoring and reporting of all members and on the Bank’s purchased loans portfolio (MPF); oversight of staff of four analysts that was responsible for meeting all reporting deadlines to the Bank’s Board of Directors, Credit Committee and Regulatory Agencies as relates to credit risk to member institutions as well as within the Bank’s purchased loan portfolio
Drafted and presented recommendations to shape Bank’s credit policy to account for the changing risk appetite of the Bank
Enhanced the Bank’s Loan Loss Reserve methodology and Asset Classification methodology to accurately account for risk on the balance sheet
Developed Risk Scoring Systems specifically targeted at Life, P&C and Mortgage Insurance Companies; alongside developing stress Testing Process to monitor risk in the Bank’s purchased loan portfolio
Enhanced the Bank’s Member Failure Plan documentation through extensive discussions with Federal and State regulatory agencies, legal counsel both internal and external and with senior management of members. Served as Credit Department’s main liaison to FHFA during the regulator’s annual examination process. Coordinated with various other departments to aggregate data and submit requested materials prior to and during the examination process
JOHN HANCOCK FINANCIAL SERVICES Boston, MA April 2011 – February 2012
Financial Analyst Consultant – LTC Finance
Identified process improvements and developed business cases
Served as Finance Department liaison between IT and Operations on the development of Data Warehouse for the accumulation of data to be used in the tracking of the results from the In-force premium increase
FHLB BOSTON Boston, MA January 2005 –March 2011
Supervisor Credit Analysis
Developed risk scoring model to gauge financial health of member institutions. Developed process to back-test model for accuracy and possible recalibration
Re-engineered the Department’s Watch List criteria and review schedule
Worked closely with senior management of financially distressed institutions to continue to provide liquidity in a safe and sound manner
BNY MELLON Everett, MA January 2003 – March 2005
GSS Specialist
Global Pricing – Interface between pricing vendors and investment managers to provide comprehensive and accurate pricing services to clients
Global Custody – Assisted investment Managers and Sub-custodians across various international markets on the entire corporate action life cycle
Education
BOSTON COLLEGE September 2006 – May 2009
CARROLL GRADUATE SCHOOL OF MANAGEMENT
Master of Business Administration, Master of Science in Finance
BABSON COLLEGE September 1998 – May 2002
Bachelor of Science degree in Finance & Economics.
Technical MS Office (Word, Excel, PowerPoint) Microsoft Query, SQL, Bloomberg, SNL, FIS,
Language Fluent in Greek, proficient in Spanish
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