Expert Details
Insurance and Regulation
ID: 732969
Illinois, USA
Expert has particular strength in leveraging these abilities in transitional and crisis situations.
She has long honed the ability to:
♦ Assess possible areas of compliance and enterprise risk;
♦ Track regulatory adjustments;
♦ Resolve legal compliance issues;
♦ Develop written policies and procedures;
♦ Maintain strong relationships with internal and external stakeholders;
♦ Put together management information reports; and
♦ Develop and implement training programs.
As Deputy Director at the Illinois Department of Insurance, Expert directed an emergency project to create and implement a new regulatory framework to assess enterprise risk management and its impact on financial solvency at insurance companies with net written premium ranging from less than $1MM to $55B. In this role, she developed and delivered training to over 70 examiners and analysts, resulting in 15+ vetting sessions to validate and implement the importance of enterprise risk management to the new regulatory structure and determine insurance company compliance with Illinois insurance laws and regulations.
As an insurance SME at the Federal Reserve Bank of Chicago, Expert regularly assessed enterprise risk management at banks with regard to insurance risk. At the American International Group, she trained senior leaders on how the Federal Reserve evaluated and assessed enterprise risk management for insurance companies.
Expert currently consults for two nonprofit organizations in the Chicago area.
Education
| Year | Degree | Subject | Institution |
|---|---|---|---|
| Year: 2016 | Degree: Master of Public Administration | Subject: Healthcare Management | Institution: DeVry University - Keller Graduate School of Management |
| Year: 1993 | Degree: Juris Doctor | Subject: Law | Institution: Washington University School of Law |
| Year: 1989 | Degree: Master of Business Administration | Subject: International Business | Institution: DePaul University - Charles H. Kellstadt Graduate School of Business |
| Year: 1980 | Degree: Bachelor of Arts | Subject: Political Science and Government | Institution: University of Notre Dame |
| Year: 1978 | Degree: Associate of Arts | Subject: Liberal Arts | Institution: William Rainey Harper College |
Work History
| Years | Employer | Title | Department |
|---|---|---|---|
| Years: 2016 to Present | Employer: Undisclosed | Title: Consultant | Department: |
Responsibilities:Expert assists in enterprise risk management at a nonprofit organization focusing on increasing access to healthy and affordable food in Chicago food deserts. |
|||
| Years | Employer | Title | Department |
| Years: 2015 to Present | Employer: Undisclosed | Title: Consultant | Department: |
Responsibilities:Expert prepares written policies and procedures for this literary nonprofit organization. She also serves as a member of the Advisory Board. |
|||
| Years | Employer | Title | Department |
| Years: 2013 to 2015 | Employer: Illinois Department of Insurance | Title: Deputy Director | Department: Financial and Corporate Regulation Division |
Responsibilities:Expert's senior management level position focused on monitoring and regulating the financial solvency of over 360 domestic insurance companies. She also developed and delivered training to over 70 examiners and analysts resulting in over 15 vetting sessions to validate and implement the new regulatory structure and determine insurance company compliance with Illinois insurance laws and regulations. (Prior to this time she served as Assistant General Counsel in the Legal Division from 2013-14). |
|||
| Years | Employer | Title | Department |
| Years: 2012 to 2013 | Employer: AMERICAN INTERNATIONAL GROUP, INC. | Title: Director, Federal Reserve Liaison Group | Department: |
Responsibilities:Her role utilized insurance, legal, and federal bank regulation expertise to counsel and prepare senior leaders at core insurance subsidiaries with over 71% of corporate revenue for impending oversight by the Federal Reserve Bank of New York. Expert also directed, developed, and launched an online training course, completed by over 60,000 employees, on how Federal Reserve regulation would impact the company. |
|||
| Years | Employer | Title | Department |
| Years: 2000 to 2011 | Employer: Federal Reserve Bank of Chicago | Title: Risk Management Specialist / Insurance Subject Matter Expert | Department: Supervision and Regulation Department |
Responsibilities:Expert directed and managed three large-scale simultaneous projects with 20+ team members preparing regulatory guidance on various aspects of compliance and insurance risk at banks, with supervisory tools used by over 200 bank examiners and analysts. She also stewarded interagency efforts for 22 state and federal banking, securities, and insurance government agencies to share information on supervisory concerns that established a groundwork for productive interagency cooperation during the 2007-2008 financial crisis and served as a model for interagency efforts in other Federal Reserve Districts. |
|||
| Years | Employer | Title | Department |
| Years: 1995 to 2000 | Employer: LORD, BISSELL & BROOK (now LOCKE LORD, LLP) | Title: Associate Attorney | Department: |
Responsibilities:She managed run-off of long-tail environmental pollution, asbestos and products liability claims involving up to $100MM in dispute and London Market insurance and reinsurance contracts, analyzed technical information related to these claims, and wrote at least 30 coverage opinions counseling clients on liability and advantageous settlement positions. |
|||
| Years | Employer | Title | Department |
| Years: 1993 to 1994 | Employer: Gleason, McGuire and Shreffler | Title: Associate Attorney | Department: |
Responsibilities:She represented insurance company clients in multi-million dollar declaratory judgment insurance coverage actions involving environmental pollution claims, and preparing for and participating in settlement negotiations involving these claim disputes. |
|||
| Years | Employer | Title | Department |
| Years: 1981 to 1990 | Employer: General Reinsurance Corporation | Title: Second Vice President | Department: Property Facultative Underwriting |
Responsibilities:Expert evaluated individual property risks in various industries, computing adequate reinsurance premium and determining adequate reinsurance capacity (up to $100 million for certain risks) as a property reinsurance underwriter. She also served as the corporate earthquake specialist and designed and built system to monitor corporate worldwide earthquake exposures monitoring accumulations of more than $500MM in reinsured properties. |
|||
| Years | Employer | Title | Department |
| Years: 1980 to 1981 | Employer: CNA Insurance Companies | Title: Underwriter | Department: |
Responsibilities:Expert evaluated association life and accident and health group exposures, computed adequate insurance premium and determined adequate policy limits as an underwriter. |
|||
| Years | Employer | Title | Department |
| Years: 2016 to 2017 | Employer: Vocke Law Group | Title: Legal Counsel | Department: |
Responsibilities:Provide legal counsel to insurers and reinsurers on corporate governance and state insurance regulatory matters.Lead marketing initiatives for startup law firm involving research and analysis of financial services regulatory developments. |
|||
Government Experience
| Years | Agency | Role | Description |
|---|---|---|---|
| Years: 2000 to 2011 | Agency: Federal Reserve Bank of Chicago | Role: Insurance Subject Matter Expert | Description: Directed and managed three large-scale simultaneous projects with at least 20 team members that prepared regulatory guidance on various aspects of insurance risk at banks, with supervisory tools used by over 200 bank examiners and analysts. • Directed and managed a project with seven Federal Reserve and vendor team members that developed insurance training, and as the lead instructor, taught over 100 bank examiners across the Federal Reserve System on the differences between banking and insurance and the evaluation of insurance risk. • Led interagency efforts for 22 state and federal banking, securities, and insurance government agencies to share information on supervisory concerns that established a groundwork for productive interagency cooperation during the 2007-2008 financial crisis and served as a model for interagency efforts in other Federal Reserve Districts. • Examined and investigated compliance departments, programs, and written policies and procedures at over 50 banks, resulting in identification of compliance issues and regulatory findings that required corrective action. |
| Years: 2013 to 2015 | Agency: Illinois Department of Insurance | Role: Assistant General Counsel / Deputy Director Financial and Corporate Regulation | Description: Directed emergency project to create and implement a new regulatory framework to assess enterprise risk management and its impact on financial solvency at 360 insurance companies with net written premium ranging from less than $1 million to $55 billion. • Developed and delivered training to over 70 examiners and analysts resulting in over 15 vetting sessions to validate and implement the new regulatory structure and determine insurance company compliance with Illinois insurance laws and regulations. • Provided legal counsel in a crisis situation and case of first impression involving whether federal bank regulators could supersede authority of state insurance regulators and seize $304 million in assets of an Illinois insurance company in weak financial condition to stabilize the affiliated bank, ultimately resolved by strategically placing the company in receivership. |
International Experience
| Years | Country / Region | Summary |
|---|---|---|
| Years: 1995 to 2000 | Country / Region: London | Summary: Represented Lloyd's of London and Certain London (Re)insurers in insurance coverage matters. |
Career Accomplishments
| Associations / Societies |
|---|
| Fellow, Life Management Institute (FLMI) |
| Licenses / Certifications |
|---|
| Bar Admission: Illinois |
| Professional Appointments |
|---|
| Associate, Reinsurance Administration (ARA) |
Additional Experience
| Training / Seminars |
|---|
| Throughout my career, I frequently gave presentations in the financial services industry and insurance matters. At the Federal Reserve Bank of Chicago, I directed and managed a project with seven Federal Reserve and vendor team members that developed insurance training, and as the lead instructor, taught over 100 bank examines across the Federal Reserve System on the differences between banking and insurance and the evaluation of insurance risk. |