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Richard M Gibbons

Managing Partner, GRCES (Governance, Risk, and Compliance Enhancement Services)
7 Buck Hill Road, Westport CT 06880-1913, United States

Tel. (business): Tel. (cell phone):

IM:


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SUMMARY

DECISIVE LEADER

  • Partner with C-suite and key stakeholders to optimize results.

  • Secured $6MM in 1st yr revenue as lead SME on multi-sector AML/Anti-Fraud-Forensics & Litigation projects (e.g., Merrill Lynch, UBS, Lehman Bros., Lincoln Financial Group [insurance and annuities], Dresdner Securities, AG Edwards, and USAA).

  • Fueled 3-fold growth to $48MM revenues in 6 months for a compliance-software vendor (resultant sale of the vendor in Q4-2007 for $266MM [< 3 yrs]).

SUBJECT MATTER EXPERT

  • Inventor/Author/Owner of intellectual property – The Financial Services Genome TM/SM – An advanced case tool and reference model, enabling translation of critical functions and resource deployment into best-of-breed business objects and technology equivalents.

  • Author of feature articles on GRC. Example: Keywords “An Integrated Data View of Compliance”.

  • In June 2006, elected to the list of "The 100 Most Influential People in Finance" (category: risk visionary) by Treasury & Risk Management Magazine (Washington DC).

  • DEUTSCHE TREUHAND GmbH UNDER THE AUSPICES OF DEUTSCHE BANK GROUP: From 1992 thru 1996, Served as panel-member on Deutsche Treuhand GmbH, evaluating economic/industrial asset-transfers from E. Germany to a Re-Unified Germany (See “MD-Compliance / Director of Research / Supervisory Board Advisor-Deutsche Bank”, below, for details).

 

Experience

GRCES http://www.grces.com - Managing Partner

(Freelancer, Senior Executive (CEO, CFO, President)); Industry: Financial Services Sept 2008 – Present

Industry Consulting; Individual enterprise; 1-10 employees)

Full-time SME on a cross-enterprise Collateral Management enhancement initiative at a Tier-1 Hedge Fund headquartered in Westport CT; working w/ 2 Boston-based strategic/tactical consultancies. Expert in Collateral Management, covering all front and back-office, strategic and tactical operations - all asset classes + cash - legal documentation management and control, trade management, collateral asset servicing, asset valuation & exposure management, reconciliation & dispute management, margin calls and substitution processes, and re-hypothecation. My technological/IT deliverables focused on automation of manual functions and processes: (1) Data Enhancement & Utilization; (2) Business Process Optimization; (3) Risk-Exceptions Surveillance/Diagnostics; (4) Risk Prioritization & Responsiveness; (5) Vetting IT-Solutions; (6) “BI” Dashboarding for Improved Decisioning; (7) Change Mgmt Enhancement, Devising/Deploying KRI and BPM Metrics.

Senior Manager and Service-Line Leader – Regulatory & Compliance Risk Transformation - Deloitte & Touche LLP

(Partnership; 10,001 or more employees; DTT; ERM/Accounting Industry) May 2007 – August 31, 2008

  • Distinguished financial-services industry practitioner, and one of 10 designated Service-Line Leaders in the Regulatory & Capital Markets’ Ops & Technology Group - Financial Sector, leveraging my and Deloitte’s deep expertise in governance, risk management, and compliance.

  • Authored/Launched a risk & compliance-based service-line (all risk disciplines), predicated on: (1) Data Enhancement/ Utilization, (2) Business Process Optimization, (3) Surveillance/Diagnostics, (4) Priority Responsiveness, (5) IT-Solutions; (6) Business Intelligence (“BI”) for Improved Decision Support, and (7) Change Protocols including Risk-Event & Business-Performance Metrics, precipitating substantial deal-flow.

  • Contributor to Deloitte’s ICRM (“Integrated Compliance Risk Management”) practice-development initiative to provide a company-branded offering to financial organizations.

  • Leading a long-term AML-IT-Strategy Enhancement Project at CITIGROUP.

  • Effective responder to the current liquidity crisis in the financial markets.

Practice Leader at Gibbons-Denmark Consulting Services

(Management consulting industry – Own Sole-Proprietorship) September 2006 – May 2007 (9 months)

  • Independent consultant-practitioner, using a small experienced team.

  • Clients included law-firms, a Boston/Dublin-based technology-vendor, a full-service Texas-based financial institution carrying 25MM accounts, and organizations with operations in the NY City metro-area.

  • Practice was focused on:

    • Strategic/Tactical optimization of cross-enterprise GRC/controls-management at global multi-sector tiers-one/two financial institutions and IT-vendors.

    • Conducting forensic investigations and providing expert-witness testimony (in court and at arbitrations), comprising a multi-disciplinary approach through current & thorough knowledge/expertise in: supervision & controls; multi-jurisdictional financial management and reporting; line-of-business/business unit supervision; sales/trading & marketing; client relationship management; back-office operations & controls; AML/Anti-Fraud/employee-associate surveillance; GRC “best practices” and support-infrastructures; non-client (contra/counter-party); and associated Information Technology, for thorough and well-rounded delivery or testimony.

Specialist-Adviser - GRC Product Management at QUMAS LTD.

(Privately Held; 51-200 employees; Software industry) September 2005 – September 2006 (1 year 1 month)

Qumas is a provider of corporate governance software, emphasizing Sarbanes-Oxley compliance, Basel II Risk-Control Frameworks. Financial clients included Fidelity, Bank of America, and Goldman Sachs. Duties included:

  • Advised on the building of QUMAS’ highly-rated GRC-solution suite for the financial sector, covering: Combined Expertise & Product Approach; Sustainable GRC Framework; Streamlined Workflows and Audit-Trail; Cross-Enterprise Compliance Platform; Role-Based Configurable Software Suite; Closed-Loop Compliance; Document & Process Management; Jurisdictional Compliance; and Advanced Decision-Support for Sr. Management.

Associate Partner at IBM Global Services, Inc.

(Public Co.; 10,001 + employees; IBM; IT Services industry) August 2004 – September 2005 (1 year 2 months)

  • Broadened financial-sector demand for IBM’s AML/Anti-Fraud, Risk & Compliance IT-solution offerings.

  • Trusted Advisor to central banks, regulatory bodies, and financial institutions.

  • Engagement at First Data Corp/Western Union launched a $45MM project to refresh the entire IT infrastructure.

  • Committed to multi-million dollar consulting-engagements in Latin America, Caribbean, Africa, and the Middle East, Egypt, and Pakistan (MEEP).

  • Basel II project for Citizens Bank, subsidiary of the Royal Bank of Scotland.

  • Promotional speaking engagements; wrote feature-articles for IBM trade publications.

AML-Anti-Fraud Product Manager at Actimize, Inc.

(Privately Held; 51-200 employees; Computer Software industry) March 2003 – September 2004 (1 year 7 months)

  • Developed the AML/Anti-Fraud logic/algorithms, and platform dimensions for Actimize’s AML-Anti-Fraud solution-set, including, detection, management, workflow, audit-trail, and reporting on investigation outcomes, consisting of: Client Profiling; Behavior Monitoring; Multi-Jurisdictional AML; Exception Generation + Audit-Trail;100+ Analytic Detection Scenarios; Alert/Case Prioritization; and, Manual/Electronic Filing of SARs/CTRs, covering:

    - Section 326 KYC/CIP Protocols

    - Link Analysis & Detection

    - Individual + Institutional Client Dimensions

    - Acct/Customer/Peers Behavior Monitoring

    - Multi-Jurisdictional AML Compliance

    - Exception Generation + Audit-Trail Mapping

    - Risk-Weighting of Clients/Transactions

    - 100+ Detection Scenarios/Algorithms

    - Risk-Based Exceptions Prioritization

    - Electronic Filing of SARs/CTRs

  • Managed the Project Management Office (PMO) at client-sites. Clients included UBS (institutional AML), Lehman Bros., A.G. Edwards, Dresdner Kleinwort Wasserstein, and, 10 additional multi-nationals and government agencies.

  • In 2003, I fueled growth of sales-target revenue from sales of the Actimize AML Solution (product-suite) to $ 8.0 million. In 2004, the annualized AML Solution sales target of $24.0 million was exceeded by 100% ($48MM) in the first six mos. of fiscal ‘04 - over $20.0 million in new AML business - with sales split 50/50 between consulting services and software integration. Leadership of the Project Management Office (PMO) at client-sites. Major clients included UBS (institutional AML), Lehman Bros., A.G. Edwards, Dresdner Kleinwort Wasserstein. My product development and sales/marketing support fueled 3-fold growth in target revenues, which led to Q4-07 sale of Actimize to Nice Systems for $266MM.

Chief Executive Manager - Own Practice at Cubed Solutions, LLC (Delaware)

(Management Consulting Industry – Own Consultancy) January 1999 – March 2003 (4 years 3 months)

  • Strategic/Tactical optimization of cross-enterprise GRC/controls-management at global multi-sector tiers-one/two financial institutions and IT-vendors.

  • Conducting forensic investigations and providing expert-witness testimony (in court and at arbitrations), comprising multi-disciplinary knowledge/expertise in: supervision & controls; multi-jurisdictional financial management and reporting; line-of-business/business unit supervision; sales/trading & marketing; client relationship management; back-office operations & controls; AML/Anti-Fraud/employee-associate surveillance; GRC “best practices” and support-infrastructures; non-client (contra/counter-party); and associated Information Technology, for thorough and well-rounded delivery /testimony.

  • Built offerings around my own intellectual property - Financial Services GENOME (TM/SM) – a UML-XML-based reference model and case-tool of “Best Practices” for financial-services institutions. Key assignments:

    • KPMG’s Lead-SME on Merrill Lynch’s $11.5 million-funded AML/Patriot Act Project.

    • Postipankki Ltd. – Finland’s conversion of its postal banking system into a single-entity head-office in Helsinki, with a “Section 20” subsidiary in NY City.

    • Bankers Trust (pre-Deutsche Bank acquisition) – Authored the business/technology improvement plan.


Sr. Vice President - Corporate Compliance - United States Trust Company of NY, Inc.

(Investment Management industry) June 1997 – August 1999 (2 years 3 months)

  • Regulatory Ombudsman to the LOBs, consisting of wealth management, corporate banking, pension/ERISA, and the asset-management divisions.

  • Changed the organization from regional to centralized compliance. Accomplishments, included design and deployment of:

    • Due-Diligence Program, which validated acquisition targets and clarified the structuring of deal terms during $7 billion business acquisition campaign;

    • Risk-Based Surveillance System for Improved Supervision & Change Management;

    • Forensic Operations Unit, in support of routine and ad-hoc risk-event reporting to the Board of Directors and the Executive Committee, covering: supervision & controls; multi-jurisdictional financial management and reporting; line-of-business/business unit supervision; sales/trading & marketing; client relationship management; back-office operations & controls; AML/Anti-Fraud/employee-associate surveillance; GRC “best practices” and support-infrastructures; non-client (contra/counter-party); and associated IT.

    • New “Know Your Customer” (“KYC”) Policies & Procedures Manual (This was selected by the GAO – from 32 submitting firms- as the new testing-standard for the FRB).

MD-Compliance / Dir. of Research / Board Advisor - Deutsche Bank Aktiengesellschaft (“DBAG”)

(Tier-One Full-Service Universal Bank) September 1989 – December 1996 (7 years 4 months)

  • Provided expertise to the DBAG Board and executives; managed the global market research subsidiary and the global compliance functions. Completed Board-specified projects; and, formulated the Global Compliance Program:

    • Authored and deployed the Global Compliance Manual.

    • Managed the preparation and publication of market research for 40,000+ subscribers

    • Introduced Compliance Standards/Ethics into German Practices:

      • Helped author Germany’s “2nd Financial Markets Enhancement Act”(1993), equivalent to US Market Reform Act of ’86;

      • Advised the German Finance Ministry on creation of BAFIN, Germany’s SEC-equivalent ;

      • Served as a DB-delegate to the EU Parliamentary Banking Sessions; Instrumental in the 4th successful attempt to launch the EURO currency (1994; Launched 2000); and

      • DEUTSCHE TREUHAND GmbH UNDER THE AUSPICES OF DEUTSCHE BANK GROUP: From 1992 through 1996, I served as a panel-member of, and risk management consultant to, Deutsche Treuhand GmbH, evaluating economic/industrial asset-transfers from East Germany to a Re-Unified Germany. The Treuhand (Treuhandanstalt or Treuhand agency) was the agency designated to privatize the East German enterprises (Volkseigener Betrieb or “VEBs”) owned as public property. Created on June 17, 1990, it oversaw the restructuring and selling of state-owned businesses concentrated on: industrial production; machine tools; chemicals; automobiles; and, precision manufactures - with over 4 million employees. At that time, it was the world's largest industrial enterprise, controlling more than 8500 state-owned enterprises.


Various SVP/MD Compliance Director Positions

(Financial Services industry) June 1983 – August 1989 (6 years 7 months)


  • BNP-Paribas (1984-1989. Resigned to Accept an Offer to Join Deutsche Bank N.A. as Chief Compliance Officer) - After the August ’84 sell-off of A.G. BECKER – PARIBAS to MERRILL LYNCH, I was re-hired as Chief Administrative Officer with appointment to the Executive Committee of the N.A. Holding Company. Duties included management of the upstairs trading-floor activities: Corporate Finance + Acquisition Financing; M&A; oil & gas Futures Trading; Asset Management; Ombudsman to the Sales & Trading Desks across 5 subsidiaries; Risk Arbitrage; Mutual Funds Admin.; Risk Mgmt, Audit, Compliance, HR, Budgets, and Ops.

  • Fidelity Investments/National Financial Services Corp (1985-1987. Resigned to Accept an Executive-Level offer to Rejoin Banque Paribas)- Developed and managed regulatory compliance for the two broker/dealer subsidiaries of the Fidelity Group - one a discount broker, and the other a correspondent/carrying-firm. Managed a staff of 16 equally split between New York and Boston (HQ). Developed and conducted in-house training sessions for management, the sales-force, and support units. Consulted with line-management and staff on all regulatory matters. Developed MIS/exception reporting, and corrective prescriptions.

  • Risk Evaluations, Inc. (1984) – (Transitional Consulting Practice after A.G. Becker-Paribas Acquisition by Merrill Lynch) Conducted client/counter-party risk reviews and facilitated dealings for 20+ large domestic and multi-national financial services clients.

  • A.G. Becker-Paribas, Inc. (1983-1984. Company Acquisition in August 1984)- Responsible for client/counter-party credit-risk to the Firm’s U.S. government and agency securities business, e.g. mortgage-backed, current, and forward settlements, Repo + Reverse Repo Agreements. Managed a book of 700+ clients / counterparties. The Firm had no capital or risk-based losses on my watch. Early promotion from AVP to VP, within 6 months, contrary to the normal 2+year promotion cycle. MERRILL LYNCH acquired the firm, with the exception of the risk arbitrage business, in August 1984 (See BNP-PARIBAS N.A., INC., above).

Designated Regulatory Authority at New York Stock Exchange (Div of Regulation)

(Broker-Dealer Regulation & Oversight) September 1979 – May 1983 (3 years 9 months)

  • One of the NYSE's 20 designated-regulators authorized to engage in full-spectrum securities-firm and market regulation. Empowerments granted under Section 17 of the Securities and Exchange Act of 1934.

  • Regulated all business; management; financial; operational; and, sales & marketing aspects of NYSE member firms. Primary liaisons were executive committees and C-level management.

  • Drafted amendments, interpretations, and rules, for NYSE’s "Rule Policy Interpretation & Development" Div.
    Regulated Futures Commissions Merchants/Brokers, under Commodities Futures Trading Commission oversight.


 

Education


  • Pace University - Masters (equivalent), Finance & Regulation, 1979 – 1981. NYSE/SEC-program. Non-Degreed Program in Securities Markets Regulation. Pre-requisite/Qualification for SEC-DSRO delegation of supervisory responsibility under Section 17 of the Securities and Exchange Act of 1934.

  • New Jersey City University - BA, Political Science/ Pre-Law, 1969 – 1973 Cum-Laude, History / Political Science.

  • Groups and Associations - Past multi-year member of SIA (now SIFMA). Advisor to the Board of Directors of Haydrian Corporation, a Financial Crimes IT-Vendor (www.haydrian.com/PageID/151/defaulf/aspx), Belleview, Washington.

  • Licenses, Honors, and Awards: Former NASD License-holder - Series 7, 8, and 14; Author of feature articles on financial-services governance and risk for trade-publications; and, in 2006, was named to Treasury & Risk Management Magazine’s list of "The 100 Most Influential People in Finance" under the category of “risk visionary”.

  • Knowledge of court-accepted computer forensics and e-discovery software and technology tools, as well as, a variety of corporate-governance, risk & compliance management (“GRC”) technology tools that are available, today, including those with e-discovery review platform hosting and support capabilities for laptops and mobile devices.


<<<References Furnished Upon Request>>>