Jeffery Allen

Jeffery is a Managing Director in Protiviti’s Risk and Compliance Practice specializing in Banking and Capital Markets. He has over 20 years of experience in the areas of management consulting; advising clients on strategy, operations, IT, and risk. He has also worked in the lending and servicing departments of various banks, where he has developed expertise in the areas of regulatory compliance and banking operations. Jeffery has significant proven experience working with financial service industry leaders to tackle complex regulatory reform.  His areas of focus are CFPB, OCC, FRB, FDIC, Consent Orders, and Dodd-Frank Wall Street Reform. As part of the Risk and Compliance group, Jeffery has developed and applied subject matter expertise across regulations impacting the financial service industry by conducting risk assessments, process and control mapping exercises, and policy and procedure reviews.

Major Projects

• Led multiple teams responsible for helping a major financial services institution incorporate CFPB mortgage servicing and mortgage originations rules. Analyzed current practices of the institution’s mortgage unit and, through gap analysis process, identified key compliance issues (e.g. Ability to Repay, Qualified Mortgage requirements, Third Party Management Oversight, Mortgage Originator Training, and policies and procedures). Incorporated new processes and controls that aligned with CFPB rules and regulations.
• Led an annual assessment of TILA/RESPA origination requirements for a top-10 mortgage servicer. Incorporated new disclosure rules and implemented process changes to ensure effectiveness.
• Reviewed BSA/AML controls, policies and procedures for a top-50 regional retail bank. Provided training to lines of business, performed gap assessment, and enhanced processes to comply with regulatory guidance.
• Led a team that analyzed the alignment of policies/procedures, processes and controls with stakeholder/regulatory requirement regarding the fraud & anti-money laundering practices for a mortgage servicing department of a top-10 retail bank. Reviewed training documentation, policies, procedures, and operational readiness for potential enhancements and identified critical process breakpoints and next steps to the C-level suite in order to adhere to industry standards and comply with regulatory requirements.
• Led multiple project work streams which included a foreclosure lookback for a top-10 mortgage servicer under a Consent Order that covered areas of state law, bankruptcy, servicing fees, Service members Civil Relief Act, and loss mitigation.  The lookback effort was in response to regulatory inquiries from the SEC, FRB, OCC and the 50 State Attorneys General and addressed borrower and regulatory complaints regarding the residential foreclosure process and relied on mortgage law to analyze and assess company’s historical procedures.  Analyzed documentation and transactions while identifying potential issues for further company and regulatory review.
• Led a forensic investigation into the foreclosure processes in response to regulatory inquiries at a loan servicing subsidiary of a Wall Street Investment Bank. Addressed fraudulent claims regarding the residential foreclosure process and managed the identification of company documentation and transaction histories for further consideration by the Office of Comptroller of the Currency (OCC).

Areas of Expertise

• CFPB Compliance
• Regulatory Guidance
• Third Party Risk Management
• Anti-Money Laundering / Fraud
• Banking Operations
• Project Management

Industry Expertise

• Financial Services
• Banking and Capital Markets
• Financial Technology
• Customer Experience
• Large / Small Bank & Non-Bank Servicers
• Banking Operations

Education

• B.B.A. – Finance, Texas Tech University
• B.B.A. – Business Economics, Texas Tech University

Professional Memberships & Certifications

• Association of Certified Anti-Money Laundering Specialists