An enterprise risk assessment is the foundation of a bank's compliance program for anti-money laundering and Office of Foreign Assets Control regulations.
A risk assessment should be seen as an organic component of a healthy and well-functioning financial institution.
Often viewed as an onerous regulatory requirement, a risk assessment is in fact a valuable tool that provides leadership with data to support strategic growth.
A well-executed risk assessment allows an institution to maximize acceptable risk within a controlled environment, maximizing potential profit and shareholder value.
Meet the
Expert
Priscilla Rabb Ayres
Principal, L. Franklin Associates
Virginia Beach, VA
- English
About Priscilla
- Financial services risk and compliance expert with a 360-degree stakeholder perspective based on deep experience in and with financial institutions, government bodies, vendors and industry associations
- As Chief Regulatory Officer for IBM Global Financial Services Sector, initiated and managed collaborative relationships between IBM and regulatory bodies and launched IBM's global Extensible Reporting Language program
- Appointed the first Director of the Trade and Development Agency and worked in close coordination with Ex-Im Bank, the Overseas Private Investment Corporation, World Bank, IFC, and regional MDBs such as the Asian Development Bank and the EBRD
Experience
Principal
•
L. Franklin Associates
2009
—
Present
- Bank Secrecy Act/Anti-Money Laundering (BSA/AML), Office of Financial Asset Control (OFAC) compliance, and Operational Risk
- Designs and implements assessments, gap analyses, remediation roadmaps, and BSA/AML and OFAC programs
Associate Partner
•
IBM
1996
—
2009
- Associate Partner, Risk and Compliance, Global Business Services (2006-2009)
- Financial Services Sector regulatory SME for the IBM solution set, with focus on governance and business process transformation. Develop and implement R&C solutions for the banking and securities industries that involve compliance programs for BSA/AML, OFAC, Fraud and Operational Risk. Deep knowledge of the Patriot Act, BSA, Gramm-Leach-Bliley, Basel II, FACTA, and SOX. Accomplishments and activities include: theDeveloped major infrastructure projects in emerging markets, and secured funding support for those projects from US government trade agencies and multilateral development banks design, implementation, and write-up of the BSA/AML and OFAC Risk Assessments for a top 10 banking organization; implementation of transaction monitoring systems; and development of ERM strategies and frameworks.
- Chief Regulatory Officer, Global Regulatory/Compliance Solutions (2004-2006)
- Chief Regulatory Officer for the IBM Global Financial Services Sector. Served as regulatory SME globally for development of Basel II, Operational Risk, SOX, BSA/AML, Fraud, and Data Governance,solutions. Accomplishments include: liason with FSS regulators; lead for IBM participation in the BITS Financial Institution Shared Assessment Program; originated the IBM XBRL cross-industry initiative; and served as FSS Chief Standards Solutions Officer for the IBM Corporate Standards Initiative
- Project Executive, Federal Civilian Agencies, IBM Gobal Business Services (2001-2004)
- Project Executive for major projects at GSA, the White House, National Archives, and Capitol Hill
- Executive Consultant, Economic Development, IBM Global Services (2000-2001)
- Originated and developed the IBM e-business economic development consulting practice for state and local governments
- International Business Development Executive, IBM Global Services (1996-2000)
- Developed major infrastructure projects in emerging markets, and secured funding support for those projects from US government trade agencies and multilateral development banks
Director, Global Finance Development
•
Motorola
1993
—
1996
- Responsible for securing official funding support from U.S. Government trade agencies and multilateral development banks for telecommunications projects and equipment sales in emerging markets
Senior Deputy Director
•
U.S. Department of State
1991
—
1993
- Assistance to Emerging Democracies, Office of the Secretary
- Responsible for the design and implementation of private sector-led assistance to Central and Eastern Europe and the Former Soviet Union
- Instrumental in the organization, structuring, and launch of the Polish-American and Hungarian Enterprise Funds, innovative vehicles designed to initiate indigenous commercial capital markets in the emerging democracies
Director
•
U.S. Trade and Development Agency
1988
—
1991
- First Director of TDA as an independent agency, an undersecretary level position that requires senate confirmation
- TDA is a critical component of the Executive Branch commercial foreign assistance apparatus and works with the Export-Import Bank, OPIC, USAID, State Department, US Embassies, multilateral development banks, and foreign governments
Director, Office of Trade Finance, International Trade Administration
•
U.S. Department of Commerce
1986
—
1988
- Led the DOC ITA office responsible for trade finance policy and programs intended to boost US exports
- Coordination of US commercial banks, the Export-Import Bank, OPIC, Treasury and US companies
- USG delegate to the OECD Tied Aid Accord negotiations
Special Assistant to Deputy Assistant Secretary for Monetary Policy and International Finance
•
U.S. Department fo the Treasury
1984
—
1986
- Special assistant to the Deputy Assistant Secretary for Monetary Policy and International Finance
- Prepared the USG contribution to the OECD Study on International Trade of Bank-related Financial Services
- Author of the Banking Section of the Interagency Committee on Services "First Biennial Report to Congress on the Competitiveness of US Industries"
- Author of domestic financial issues including Treasury debt structure and deregulation of financial institutions
Education
Harvard Business School
MBA, Finance
Smith College
BA, History
Security Clearances
code word
Boards
- Director and Treasurer, World Affairs Council of Greater Hampton Roads (May 2011 - Present)
Keynote Speeches
- The 10th XBRL International Conference: "Regulation in the 21st Century: From Prescription to Collaborative Supervision"
- Risk and Compliance/Business Process Management Conference: "Regulatory and Policy Outlook" August 2004
- New York RACF Users Group Meeting: "Security for the New Era: Urgent Regulatory Imperatives" April 2005
Publications
- Prepared the USG contribution to the OECD Study on International Trade of Bank-related Financial Services
- Author of the Banking Section of the Interagency Committee on Services "First Biennial Report to Congress on the Competitiveness of US Industries"
- Author of domestic financial issues including Treasury debt structure and deregulation of financial institutions
Packages with Priscilla starting from $400
Your Expert Package Includes:
Best Practices
Access to ALL Best Practices authored by TrustedPeer
Expert Priscilla Rabb Ayres on this topic.
Pre-Meeting Discovery Process
Review and analysis of your issue with pre-meeting discovery questions by Priscilla, followed by
a 30- or 60-minute one-on-one call.
Sample
One+-on-One Call
Your (+colleagues) meeting is directed and focused from the first minute.
Meeting Summary Report
After your call, Priscilla completes a Meeting Summary Report to provide you with the
session’s discussion topics, analysis, assessment and recommendations for next steps.
Sample
Post-Meeting Engagement
After your meeting, continue your relationship with Priscilla
on your own, or with TrustedPeer’s support.