Maria T. Vullo, former Superintendent of the New York State Department of Financial Services (DFS), has joined the FinTech Innovation Lab New York as a Regulator-in-Residence.
Founded by Accenture (NYSE:ACN) and the Partnership Fund for New York City in 2010, the FinTech Innovation helps early- and growth-stage enterprise tech companies accelerate product and business development through in-depth engagement with top financial services and venture capital executives.
During the 12-week program which launched April 3, Vullo will provide strategic counseling and mentorship to participating enterprise tech companies as well as advise them how to consider regulators’ priorities when collaborating with leading banking and insurance institutions.
“Under Maria Vullo’s leadership, New York State has been at the cutting edge of regulation, most notably with her landmark cybersecurity regulation that serves as a model for the nation,” said Maria Gotsch, co-founder of the FinTech Innovation Lab New York and President and CEO of the Partnership Fund for New York City. “Her deep understanding of the regulatory landscape and mindset will be invaluable as this year’s class works closely with senior executives from financial services to accelerate the adoption of new technologies.”
“When fintechs and insurtechs have a comprehensive understanding of the regulatory environment in which financial institutions do business, they are better prepared to unlock the value of their technologies,” said Vullo. “I look forward to working with all the companies in the FinTech Innovation Lab to help them work within regulated industries to grow their businesses and better serve customers.”
David Treat, a managing director in Accenture’s Financial Services practice and co-head of the Fintech Innovation Lab New York, said, “Having a clear line of sight on the regulatory considerations for fintech and other emerging technologies is critical for startups and established financial institutions alike; Maria is the ideal expert to provide guidance on regulatory matters and will serve as an invaluable sounding-board for the Fintech Innovation Lab New York and this year’s class.”
In her three years as superintendent of DFS, Vullo was responsible for the regulation and supervision of New York’s financial services industry. She prioritized cybersecurity, requiring New York banks and insurance companies to more thoroughly protect themselves and consumers. Prior to DFS, Vullo was a partner at Paul, Weiss, Rifkind, Wharton & Garrison, specializing in financial services, securities, real estate finance, restructuring, antitrust and intellectual property law. Vullo also served as executive deputy attorney general for economic justice for then-New York State Attorney General Andrew Cuomo. Vullo holds a J.D. and M.P.A. from New York University and a B.A. and honorary Ph.D. from College of Mount Saint Vincent.
Vullo joins Andy Brown, Raj Chakraborty, Cris Conde, Jonah Crane, and David Mordecai, in serving as In-Residence executives for the FinTech Innovation Lab New York.