Dominick Shannon
Elkton,MD
Summary
Certified and skilled Risk & Control Professional with over twenty-five years of financial experience and over sixteen years of a successful track record working in each of the three Lines of Defense. Possessing extensive experience in the development and implementation of a robust risk management program. Proficient of evaluating risk for significant transactions, new product launches, and analyzing business processes to determine business' “risk appetite”, as well as developing detailed reports for Executive Leadership documenting Conduct, Operational, and Reputation Risks.
Overview
27
27
years of professional experience
Work History
Vice President Head of Controls Fraud Operations and KYC Operations
Barclays PLC
08.2023 - Current
- Leading a team of control colleagues that support Barclays Fraud Operations and Know Your Customer (KYC) processes
- Responsibilities included governance, oversight and execution of Barclay's Annual Risk Control Self Assessments (RCSA), supporting process owners with documenting end-to-end process reviews to identify potential risks, control gaps and regulatory requirements
- A key focus in 2024 is spearheading the effort to document 194 Fraud and KYC Operation process through end-to-end process deep dive reviews, ensuring all potential gaps are identified and mitigated with a specific focus on “Hand In” and “Hand Out” controls including proper validation
- Oversee governance functions adherence to regulations, procedures, policies, and standards including exception management
- Administering issue resolution and action plan development, execution and closure validation
- Performing Risk Issue Classification Matrix (RICM) evaluation to determine probability and impact of process gaps and control weaknesses identified
- Respond promptly to inquiries and coordinate with internal and external auditors
- Additionally, managing a team of control leads that have Issue Management Oversight of Financial Assistance Operation Areas.
Vice President Head of Controls Customer Contact Center, Workforce and Vendor Management
Barclays PLC
02.2023 - 08.2023
- Supervised a team of control colleagues that support Barclays Contact Center (voice and non-voice), Workforce Management and Vendor Management processes whose responsibilities included governance, oversight and execution of Barclay's RCSA, support process owners with documenting end-to-end process reviews to identify potential risks, control gaps and regulatory requirements
- Managed governance functions adherence to regulations, procedures, policies and standards including exception management
- Directed issue resolution and action plan development, execution and closure validation
- Performed Risk Issue Classification Matrix (RICM) evaluation to determine probability and impact of process gaps and control weaknesses identified
- Handled inquiries and coordinated with internal and external auditors.
Vice President Front Office Operational Rigor Control Group Lead
Barclays PLC
12.2021 - 02.2023
- Led a control team supporting the Partnership and Business Development processes whose responsibilities included governing the execution, testing and validation of the annual RCSA
- Supported process owners with documenting end-to-end process reviews and identified potential risks, control gaps and regulatory requirements
- Administered governance functions adherence to regulations, procedures, policies and standards including exception management
- Managed issue resolution and action plan development, execution and closure validation
- Performed Risk Issue Classification Matrix (RICM) evaluation to determine probability and impact of process gaps and identified control weaknesses
- In addition, was responsible for ensuring Barclays control environment was not compromised due to strategic initiatives
- In 2022, my primary focus was the governance and oversight of control impact to Front Office and Operational processes across Barclays US resulting from the launch and portfolio conversion of GAP
- The team successfully onboarded 10MM converted GAP customers
- Key GAP conversion accomplishments included: Completed GAP Delivered Risk Assessment (DRAs) including review of 236 process, risk, control combinations and assessment of 542 unique controls
- Led a team with the development, execution and validation of 142 action plans that were identified through the DRA.
Vice President ISG Global Loans Operations Control
Citi Bank
04.2021 - 12.2021
- Responsible for Global Loan control activities in collaboration with Compliance, Regulators, Internal and External Audit, ISG Business and Technology
- Specific responsibilities consisted of US Regions' Management Control Assessment (MCA) self-assessment program methodology, ensuring all ISG Operations groups were following all MCA key requirements
- Performed process analysis to identify key risks and ensured mitigating controls were operating as designed and expected
- Completed and documented alignment of regulatory requirements within the MCAs, policies, and procedures
- Provided support for issue resolution and alignment to impacted MCA controls
- Performed Quarterly and Annual Risk assessments across the US Loan Operations teams and processes.
Asst. Vice President US Digital Consumer Bank Personal Banking Control Lead
Barclays PLC
09.2018 - 04.2021
- Ensured new digital checking product had comprehensive 1st Line of Defense control framework established
- Developed and implemented RCSA Design Effectiveness Assurance (DEA), Operational Effectiveness Testing (OET), Policy and Standard applicability and Regulatory applicability assessments
- During this time, I was temporarily aligned to the Operational Rigor team, responsible for creating a robust Payments RCSA, documenting key processes and developing KPIs & KRIs
- In addition, responsible for executing the Collection and Credit strategy teams RCSA and Issue management processes.
Asst. Vice President CCO Digital Consumer Bank Control Lead
Barclays PLC
05.2017 - 09.2018
- Guaranteed Barclays Digital Retail Bank's three lines of businesses had a risk-appropriate control infrastructure that met regulatory, legal and policy expectations through detection, prevention, and correction of practices that present significant operational or business risks
- Ensured the established 1st Line of Defense control environment was not compromised by major change initiatives, product releases/changes or modifications to business strategy
- Provided formal project reporting and communication updates regularly to Senior Management and Group Executive Management
- Led strategic thinking forums, check and challenge discussions to ensure end-to-end coverage and accountability of process owners for related risks and controls within the digital bank
- Worked with 2nd Line of Defense on development and execution of a comprehensive control-testing program for Digital Bank lines of business.
Asst. Vice President Operations & Technology Control Lead
Barclays PLC
09.2015 - 05.2017
- Management of a team of control leads whose responsibilities included overseeing the development and execution of RCSAs to proactively identify key control gaps and support business owners with end-to-end risk identification within operations and business functions
- Managed adherence to regulations, procedures, policies, and standards including exception management
- Ensured RCSA Design Effectiveness Assurance (DEA) and Operational Effectiveness Testing (OET) were completed on time and approved by senior stakeholders
- Oversaw the remediation of control gaps and weaknesses, provided 1st Line of Defense subject matter expertise for control design and assured remediation commitments were met
- Ensured control environment was not compromised due to change initiatives.
Consumer and Community Banking Credit Bureau Risk Management Lead
JP Morgan Chase
09.2014 - 09.2015
- A member of the CCB 1st Line of Defense Risk Management team responsible for development and compliance oversight of FCRA policy and crossline business procedures governing all FCRA activities for Furnishing/Dispute Management and Data Usage of Consumer Information
- Also liable for the development, execution, and oversight of FCRA activities such as GAP assessments, RCSAs, procedure reviews, and FCRA reporting to ensure various lines of businesses complied with FCRA requirements.
Global Wealth Management Business Resiliency Operations Risk/Control Lead
JP Morgan Chase
02.2013 - 09.2014
- Maintained and improved the risk and control environment within the Global Wealth Management Division
- Specifically responsible for Business Resiliency planning and Disaster Recovery processes across Global Wealth Management both onshore and offshore
- Responsible for 42 individual line of business BCP plans to ensure coordinators update and test their respective plans annually
- Coordinated testing efforts for data center recovery tests every six months
- A member of the GWM Risk Leadership Committee, chaired the Risk and Control Committee Meetings, and coordinated risk and control activities with partners across Global Wealth Management.
Tax Audit and Legislation Lead
JP Morgan Chase
07.2011 - 02.2013
- Coordinated audits, reviews and assessments that impacted the Private Bank Tax Operations area through the Risk Control Self-Assessment process, External & Internal audits, and Quality Assurance Reviews
- Liaison for IRS audits and responded to inquiries from the Legal Department, Corporate Compliance and Corporate Tax
- Performed error resolution tracking and root cause analysis resulting from documentation or system coding errors discovered from the audits.
Product Manager
First Bank of Delaware (Now Bryn Mawr Trust)
01.2011 - 05.2011
- Maintained e-payments policies, procedures, and workflows
- Analyzed transactional data and created product reporting to identify and mitigate compliance, financial, reputational, and operational risks that could be associated with the portfolio.
Internal Auditor
First Bank of Delaware (Now Bryn Mawr Trust)
01.2010 - 12.2010
- Primarily responsible for working with Federal Regulators and external auditors in preparation of all Federal exams or external audits
- Accountable for completing independent and objective evaluations of the enterprise-wide risk control environment and reporting results to Executive Management and the Board of Directors Audit Committee.
Sr. Compliance Auditor
First Bank of Delaware (Now Bryn Mawr Trust)
05.2007 - 12.2009
- Monitored and reported on key risk indicators surrounding the bank's internal and external processes and reviewed and evaluated workflow process
- Through Control Self Assessments, ensured compliance with applicable banking regulations such as BSA/AML, US Patriot Act, SOX, Regulation Z, Regulation B, CRA, UDAP, FLOOD, and Fair Lending Laws.
Sr. Compliance Officer
HSBC Bank
09.2005 - 05.2007
- Responsible for conducting control self-assessment on the HSBC Private Label credit card portfolio to evaluate compliancy of policies, procedures and internal controls with all applicable Federal Banking Regulations such as BSA/AML, US Patriot Act, Regulation Z, Regulation B and UDAP.
Operational Risk Manager
MBNA America
06.2005 - 08.2005
- Increased enterprise-wide operational effectiveness by identifying key risk indicators, analyzed risk control measures and made control recommendations/decisions based upon results from control self-assessments.
ACH/Checks Services/Regulatory Compliance Manager
MBNA America
09.2004 - 06.2005
- Responsible for overseeing all Regulatory Compliance requirements governing deposit products specifically, Regulation D, Regulation DD, Regulation E, Escheat, Regulation CC, Check 21, and NACHA Operating Rules
IRS TAX Reporting/Regulatory Compliance Manager
MBNA America
01.2004 - 09.2004
- Responsibilities included oversight of the Regulatory Compliance and IRS reporting teams
- Oversaw 1099INT, 1099R, and 1099C IRS reporting requirements, as well as the review of forms W8BEN, C & B Notice reporting, 1042-S Canadian tax reporting, and W-9 TIN Certifications.
Consumer Deposits IRA Call Center Manager
MBNA America
01.2003 - 01.2004
- Accountable for a team of inbound call center representatives
Consumer Deposits Project Manager
MBNA America
06.2002 - 01.2003
- Responsible for working on multiple enterprise-wide projects and coordinating project meetings.
Investor Services Assistant Manager
MBNA America
10.2000 - 05.2002
- Accountable for a team of inbound call center representatives
Investor Services Sales Representative
MBNA America
01.2000 - 09.2000
- Responsible for the on boarding of Money Market and Certificate of Deposit accounts and renewals
Consumer Finance Customer Assistance Account Manager
MBNA America
05.1998 - 12.1999
- Placed outbound calls to customers experiencing financial difficulty
Customer Activation Representative
MBNA America
09.1997 - 04.1998
- Responded to customer calls requesting a variety of services.
Education
Bachelor of Science Degree in Organizational Management -
Wilmington University
New Castle, DE01.2015
Skills
- Certified Risk and Compliance Management Professional (CRCMP) - International Association of Risk & Compliance Professionals (IARCP)
- Certificates of completion from CDIA for successfully completing Fair Credit Reporting Act courses with focus on Data User and Data Furnisher Requirements
- Series 99 (expired)
- Strong attention to detail, ability to produce polished, high quality, accurate product and tireless work ethic with ability to work well under pressure
- Strong skills in organizing and rationalizing substantial amounts of information
- Strong ability to analyze and synthesize many risk data points and aid business to prioritize mitigation
- Ability to manage multiple priorities and tasks, escalate concerns, and exhibit strong people skills
- Strong ability to effectively communicate with all levels of an organization
Awards
- Eagle Scout
- Barclays Citizenship Award for Excellence 2018
- Nominated for Barclays CEO Award 2022
Timeline
Vice President Head of Controls Fraud Operations and KYC Operations
Barclays PLC
08.2023 - Current
Vice President Head of Controls Customer Contact Center, Workforce and Vendor Management
Barclays PLC
02.2023 - 08.2023
Vice President Front Office Operational Rigor Control Group Lead
Barclays PLC
12.2021 - 02.2023
Vice President ISG Global Loans Operations Control
Citi Bank
04.2021 - 12.2021
Asst. Vice President US Digital Consumer Bank Personal Banking Control Lead
Barclays PLC
09.2018 - 04.2021
Asst. Vice President CCO Digital Consumer Bank Control Lead
Barclays PLC
05.2017 - 09.2018
Asst. Vice President Operations & Technology Control Lead
Barclays PLC
09.2015 - 05.2017
Consumer and Community Banking Credit Bureau Risk Management Lead
JP Morgan Chase
09.2014 - 09.2015
Global Wealth Management Business Resiliency Operations Risk/Control Lead
JP Morgan Chase
02.2013 - 09.2014
Tax Audit and Legislation Lead
JP Morgan Chase
07.2011 - 02.2013
Product Manager
First Bank of Delaware (Now Bryn Mawr Trust)
01.2011 - 05.2011
Internal Auditor
First Bank of Delaware (Now Bryn Mawr Trust)
01.2010 - 12.2010
Sr. Compliance Auditor
First Bank of Delaware (Now Bryn Mawr Trust)
05.2007 - 12.2009
Sr. Compliance Officer
HSBC Bank
09.2005 - 05.2007
Operational Risk Manager
MBNA America
06.2005 - 08.2005
ACH/Checks Services/Regulatory Compliance Manager
MBNA America
09.2004 - 06.2005
IRS TAX Reporting/Regulatory Compliance Manager
MBNA America
01.2004 - 09.2004
Consumer Deposits IRA Call Center Manager
MBNA America
01.2003 - 01.2004
Consumer Deposits Project Manager
MBNA America
06.2002 - 01.2003
Investor Services Assistant Manager
MBNA America
10.2000 - 05.2002
Investor Services Sales Representative
MBNA America
01.2000 - 09.2000
Consumer Finance Customer Assistance Account Manager
MBNA America
05.1998 - 12.1999
Customer Activation Representative
MBNA America
09.1997 - 04.1998
Bachelor of Science Degree in Organizational Management -
Wilmington University
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