Thirty years of experience in risk management, with 25 years of concentration in the financial services industry. Areas of special expertise include risk financing, insurance, business interruption claims, business continuity and vulnerability analysis, operational risk management, risk capital, and financial analysis.
Fairfield, CT - President
An independent consultancy and executive coaching firm specializing in corporate risk management. Client assignments include work for financial institutions and major corporations worldwide in risk assessment, analysis and response; the design, development, enhancement and review of risk capital models, risk finance and insurance programs; system evaluation and deployment; business continuity and disaster recovery; and the preparation of complex insurance claims. Mr. Hoffman generally serves clients as an independent consultant, but often works with strategic partners and has on occasion assembled teams of qualified consultants to serve his clients.
New York, NY - Chairman, CEO & Founder
Served during 1999-2000 as Chairman, CEO and Founder of Operational Risk, Inc (ORI), and OperationalRisk.com, an application service provider (ASP) formed by a ventures group of Deutsche Bank. ORI and OperationalRisk.com specialized in web-based enterprise-wide operational risk management solutions. Under his direction the Companies designed, developed, and released web-based information technology, database and research tools, reporting and analytic tools, and provided management consulting and education services. Their products included The ORCA SolutionTM 2.0, a broad-based operational risk management system, and the CORE Loss KnowledgebaseTM, which was the industry loss database first developed at Bankers Trust, has since been sold to Fitch Group, and has continued to evolve into the First Database.
New York, NY - Managing Director
Headed the Operational Risk and Insurance Management department at Bankers Trust, and led the pioneering of innovative risk finance and insurance management, operational risk assessment, measurement, management, capital, as well as the firm's global business continuity planning function from 1989 through 1999. During this time, he and his teams developed the first internal and external databases of operational risk incidents and losses, one of the first tracking systems for issues, incidents, losses, as well as one of the first operational risk capital models in the industry. As implied, the model relied not just on loss data in the sense of a core LDA approach, but integrated aspects of RCSA-like programs, control issues and audit findings to provide maximum incentive for risk management and control.
New York, NY - Principal, Manager & Consultant
Principal, manager and consultant specializing in financial institution and corporate risk management and strategic planning at Tillinghast/Towers Perrin. In addition to his client work during this period, he founded a publication named BankRisk: The Bank Risk Management Quarterly, which focused on risks and risk management concepts that have since evolved into many operational and event risks of today.
During 2000-2001, he worked with a number of financial service firms and corporations that were in the process of developing operational risk programs and featured them in his book entitled Managing Operational Risk: 20 Firmwide Best Practice Strategies, which was published by John Wiley & Sons in 2002 and endorsed by the Global Association of Risk Professionals (GARP). In the book, he compiled, summarized, and showcased ORM best practices of a number of firms on the international stage. In doing so, he framed these practices into 6 Key principles and 20 Best Practice Strategies. His Best Practice Strategies were reviewd and considered by key members of Basel's Risk Management Group when developing their own Sound Practices for the Management and Supervision of Operational Risk.
Mr. Hoffman has been a frequent speaker and author of articles on operational and event risk management, risk finance, insurance strategy and related financial services topics. He has published articles in RMA’s Risk Management Journal, Bank Accounting and Finance, Risk Professional, the Operational Risk newsletter, Risk magazine, Risk Management, Risk Management Reports, Captive Insurance Company Reports, the 1996 Corporate Finance Risk Management and Derivatives Yearbook, the American Bankers Association's Risk Assessments series, and The Bankers Magazine. He also authored chapters on trends in operational risk measurement and management in Operational Risk and Financial Institutions (1999) and on risk management in The Bankers Handbook (1988). He was founding editor of BankRisk: The Bank Risk Management Quarterly from 1983-1989, a publication focused on practical business risk management for financial institutions. He served as founding chairman of the New York Clearing House Association (NYCHA) committee on Business Continuity Planning, and is a past co-chair of the NYCHA Risk and Insurance Committee.
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