Nirav Shah

Nirav is a Managing Director in Protiviti’s Risk and Compliance – Financial Service Industry practice focusing on Regulatory Compliance (including Anti-Money Laundering and OFAC), Credit, Operational and Market Risk. He has 16+ years of experience leading projects at financial services institutions focusing on the following areas: Enterprise Wide Risk and Compliance Assessment Development, AML Transformation Consulting, Credit Risk Due Diligence and Loan Review, Credit Process Re-engineering, Investments & Treasury Reviews, Internal Audit and overall Project Management.

MAJOR PROJECTS

Led an engagement with a global financial technology company to implement an data driven Enterprise Wide Risk and Compliance Assessment. Assisted in documenting business processes and controls by institution’s legal entities and products. In addition, assisted in conducting mapping of compliance requirements and risks to existing business processes and controls. Conducted the final analysis of inherent and residual risk, and assisted in developing remediation plans based on results of the assessment.

Supervised multiple loan review engagements on the loan portfolio of a large international bank focusing on reviewing new and existing commercial and consumer loans, including mortgages, home equity line of credits, real estate and commercial business loans. Procedures include analyzing data for a risk-based sample selection approach, reviewing the underwriting process, comparing loan files against organization’s policies and procedures, and evaluating performance and assessing appropriateness of risk rating.

Led consumer credit underwriting audit and process review of the manufactured housing division of a large US banking institution with over $200 billion in assets. Procedures included testing bank policies and regulatory compliance regulations for the underwriting of new consumer loans against the actual practice of the credit analysts in the lending division.

Led a process redesign review of the Asset Management Group for an insurance company with an investment portfolio of over $400B. Utilized the business process excellence framework of the company to understand the current state processes and design future state process visions. Provided best practice recommendations around organization, technology, people and governance for the future state vision of the Investments function.

Led an engagement with a large multi-national institution to build out its BSA/AML/OFAC risk assessment and process and technology implementation plan surrounding the launch of a new credit card business. Led benchmarking efforts to capture key process and control elements, and efficiency metrics for processes in comparison to other credit card issuers. Developed the assessment approach to determine what additional processes, procedures and technologies were required as part of the new product launch to enhance the existing BSA/AML/Sanctions framework for the Retail portfolio. In addition, developed a full business and technology implementation plan and business requirements for the process and system implementation supporting the new product. Additional activities included: Development of KYC procedures, enhancement of the customer risk scoring model, evaluation of applicable Sanctions lists for screening, selection and requirements development of product specific Transaction Monitoring rules and development of Investigations and SAR reporting procedures.

AREAS OF EXPERTISE

• Credit Risk
• Internal Audit
• Treasury and Investments
• Operational Risk
• Regulatory Compliance
• Anti-Money Laundering
• INDUSTRY EXPERTISE
• Financial Services
• Insurance

EDUCATION

• B.B. A. – University of Michigan Ann Arbor
• M.B.A. – University of Chicago Booth School of Business
• PROFESSIONAL MEMBERSHIPS & CERTIFICATIONS
• Certified Anti-Money Laundering Specialist (ACAMS)
• Credit Business Associate (CBA)