Wolters Kluwer adds Don Morrow to compliance and operational risk consulting group

Source: Wolters Kluwer Financial Services

Wolters Kluwer Financial Services, through its line of PCi compliance analytics solutions, announced today that fair lending expert and statistician Don Morrow has joined the organization's growing compliance and operational risk management consulting group.

Morrow, who was previously a vice president and Economic Research manager at Wachovia Corporation, will consult with clients seeking statistics-based expertise in addressing fair lending compliance, risk management, credit scoring and risk-based pricing issues.

Morrow brings more than 10 years of experience in the banking and financial services industries, as well as a Ph.D. in economics, with an emphasis in applied econometrics/statistics and economic history, to his new role with Wolters Kluwer Financial Services. Morrow's previous experience includes more than seven years of econometric/statistical modeling related to the financial services industry.

At Wachovia Corporation, Morrow managed statistical testing and matched- pair file reviews for all lines of business within Wachovia including mortgage, retail, and auto finance. He also acted as primary contact with regulators (OCC and OTS) on issues involving statistical testing in fair lending for both periodic exams and ongoing monitoring.

Prior to joining Wachovia, Morrow was a senior modeler and senior analyst at Citigroup, where he supervised the development of credit scoring models for sub-prime mortgage and consumer loan portfolios in the U.S., U.K., Denmark and Sweden. He also developed risk-based pricing models for mortgage and consumer loan portfolios and developed loss forecasting models for mortgage and consumer loan portfolios.

"As financial institutions face great challenges in the current business environment those that take a strong statistical approach to compliance will be on firm footing and ultimately emerge stronger for it," said Kurt Sames, senior director consulting and professional services, Wolters Kluwer Financial Services. "Don brings unique experience to Wolters Kluwer Financial Services in that he combines statistical expertise with real-world experience."

Edward Kramer, executive vice president, Regulatory Programs, Wolters Kluwer Financial Services, added, "In speaking with numerous financial institutions there is a growing desire for this type of experience as the industry grapples with increasingly complicated compliance issues. The challenge has been to identify those rare experts available to consult on strategic initiatives as well as specific issues."

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