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Protiviti Contact

Liz Berger

Director

Professional Experience

Liz is a Director in our Internal Audit and Financial Advisory practice with 10+ years of ‘Big Four’, internal audit, fraud, trust, and risk management experience. She has experience in the execution of financial, operational, and regulatory audits, forensics, consulting, and due diligence engagements, on behalf of global financial services clients. Liz delivers quality professional services and has built strong relationships with executive management, external auditors, and regulatory agencies.

Major Projects

  • Performed external quality assessments of the internal audit functions of large financial institutions (banks, insurance companies, asset management firms). As part of these engagement, also compared the internal audit functions’ policies, procedures and processes against leading practices and regulatory standards/expectations of other large financial institutions of similar size, risk profile, and complexity. Areas of review include: risk assessment & annual plan, training, resource management, use of co-sourcing/SME.
  • Served as a PMO for large insurance and financial services organization for the Insurance Audit team over staff aug and co-source resources for insurance pricing and trust services audits as well as assisting with the risk assessments, audit workpaper review, and general oversight.
  • Assisted with regulatory issue validation, e.g., consent orders, MOUs, MRIA, MRA, at multiple large international banks in areas including asset management, wealth management, treasury, compliance, quality assurance, professional practices, and talent management.
  • Played a key role in the successful delivery of a Finance, Corporate Functions and Treasury Internal Audit Plan (reporting to the Deputy Chief Auditor. Assignments included assisting with the management of 17 co-source resources, reviewing audit reports, reviewing audit validation of audit issues and regulatory findings.
  • Subject matter expert at US commercial bank to assist in the review of retirement planning services to confirm compliance with 12 CFR 9. Provided value-add recommendations to improve client operations and identified potential future opportunities to work with the bank.
     
    • Developed and enhanced audit testing strategies to efficiently evaluate management’s adherence to 12 CFR 9 requirements and related fiduciary obligations for a Top 10 Bank’s Trust and Asset Management business, resulting in recognition by governing regulators for the quality of work performed.
  • Planed, scoped, executed, and reported on complex, comprehensive audits utilizing a risk-based audit methodology for Card, Retail, and Commercial Bank audits at a Top 10 Bank including trust, lending, fraud, and other risk areas.
  • Oversaw the development and execution of audit work performed to assess compliance with AML/BSA and local country regulations (United States, Philippines, etc.).
  • Conducted FCPA related planning and analyses for a multi-location global investigation for a beauty and cosmetics company on site (Moscow, Russia and Warsaw, Poland) and assisted with analyses of other locations.
  • Worked on a multi-billion dollar investment portfolio for a financial regulatory agency, compiling & analyzing data on securities to be directly used by the client in making significant decisions. Identified as a key resource for securities-related questions during the year-end financial statement tie-out process.
  • Provided litigation consulting services in a professional malpractice case involving a major accounting firm. The services involved assessing whether the accounting firm conducted its audit of the client in accordance with generally accepted auditing standards (GAAS) and generally accepted accounting principles (GAAP).
  • Rebutted a $70 million lost profits and loss of business value claim.
  • Participated in teams of accounting professionals responsible for assisting clients in the preparation of pro forma financial statements for the receivership of failed financial institutions. Reconciled balance sheet accounts, identified potential adjustments, and prepared supporting documentation. Worked with global team members and served in an asset management capacity, e.g., developed strategies to improve non-performing loans, reduce delinquencies, maximize recoveries and minimize losses.

Areas of Expertise

  • Internal Audit
  • Fraud/Foreign Corrupt Practices Act (FCPA)
  • Trust (12 CFR 9)
  • Sarbanes-Oxley (SOX) - Sections 302 & 404
  • Project Management
  • Third Party Risk Management

Industry Experience

  • Financial Services
  • Forensics
  • Banking and Capital Markets
  • Large/Small Banks & Non-Bank Servicers
  • Broker/Dealers (15c3-1 & 15c3-3)
  • Asset Management

Education

  • B.S. – Accounting, Fordham University
  • M.B.A. – Finance, Fordham University

Professional Memberships and Certifications

  • Certified Public Accountant (CPA)
  • Certified Fraud Examiner (CFE)
  • Certified Internal Controls Auditor (CICA)
  • Chartered Global Management Accountant (CGMA)
  • Certified Fiduciary Investment Risk Specialist (CFIRS)

 

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