Frank Ofori-Acheampong
Pittsburgh,PA
Summary
Accomplished Senior Vice President at The Bank of New York, adept in analytical problem solving and strategic leadership. Spearheaded the development and oversight of critical risk models, significantly enhancing decision-making processes. Proven track record in process-improvement and effective presentation to a diverse audience. Expert in translating complex data into actionable strategies, driving organizational success.
Currently have a forthcoming book on Risk Appetite by Georgetown University Press. Certified Enterprise Risk Professional (CERP) and Ph.D. in Applied Economics.
Overview
16
16
years of professional experience
1
1
Certification
Work History
Senior Vice President, Risk Modeling and Analytics
The Bank of New York
Pittsburgh, PA
12.2017 - Current
- Model development – Build credit risk models used in credit decision-making, market risk models used for investment decisions, and macroeconomic forecasting models used in scenario design and forecasting macroeconomic parameters such as GDP, inflation, and interest rate
- Portfolios I work on include commercial real estate (CRE), municipal and corporate bonds, sovereign exposures, and non-sovereign exposures
- Risk appetite metrics – Developed risk appetite metrics for reputational risk
- This work has formed the basis of a full-fledged reputational risk function at BNY
- Stress testing – Scenario design, macroeconomic variables expansion, and forecasting stressed risk parameters (probability of default & loss given default) used in stress testing for CCAR (comprehensive capital analysis and review)
- Collaboration – Engage key stakeholders and subject mater experts to obtain relevant information needed to design scorecards or models for their use
- Technology implementation – Liaise with technology teams to implement key model changes, including implementation guidelines for implementing models on various technology platforms
- Documentation – Extensive experience with documentation writing for qualitative frameworks and quantitative models developed, including user guides to enable replication of results
- Mentoring and coaching – Train and coach new team members and provide on-going guidance
Adjunct Professor
Western Michigan University
Kalamazoo, MI
09.2014 - 12.2017
- Adjunct professor of Economics for undergraduate students, (this ran concurrently with my Ph.D
- Program)
- Developed and implemented course syllabi, lesson plans, and assessments.
- Facilitated active learning through class discussions, group activities, and individual projects.
- Provided constructive feedback on student assignments to promote student success.
- Evaluated student performance using appropriate assessment techniques and provided timely feedback.
Fixed Income Investment Analyst – Team lead
National Investment Bank
Accra, Ghana
06.2011 - 08.2014
- Investment analysis – Responsible for trading fixed income securities on behalf of the bank
- Asset and Liability Management – Ensured the bank met its day-to-day liquidity needs, while satisfying the central bank’s weekly cash reserve requirement
- Operational risk management & regulatory compliance – Ensured compliance with standard treasury operations procedures to eliminate fraud and minimize losses
- Submitted periodic reports to the central bank on key requirements, while ensuring that the bank was not in breach of any of these requirements or set thresholds
- Policy writing – wrote policies for the Treasury Department, including investment, operational risk, and counterparty risk management policies
- Consultant – Represented the National Investment Bank on the central bank’s committee formed to develop a benchmark interest rate for the financial market in Ghana
- Team lead and trainer – Led a team of six people on the fixed income desk
- Responsible for managing, training, and coaching the investment team as well as making presentations to management
Tutor
University of Ghana
Acra, Ghana
08.2009 - 08.2010
- Taught Statistics at the Institute of Adult Education
- Prepared and administered tests to assess student understanding of course material.
- Conducted individual tutoring sessions with students to help them improve their academic performance.
- Provided comprehensive feedback on student progress, including areas for improvement and successes.
Teaching Assistant
University of Ghana
Accra, Ghana
08.2008 - 07.2009
- Taught undergraduate Mathematics
- Assisted teachers in creating lesson plans and providing instructional materials.
- Supervised students in the classroom, cafeteria, hallways and playgrounds.
- Graded assignments, tests and papers according to teacher instructions.
Education
Executive Education - Artificial Intelligence
Massachusetts Institute of Technology (MIT)
08.2019
Ph.D. - Applied Economics
Western Michigan University
06.2018
M.A. - Applied Economics
Western Michigan University
04.2016
M.Phil. - Economics
University of Ghana
07.2011
B.A. (Honors) - Economics/Mathematics
University of Ghana
06.2008
Skills
- Analytical Problem Solving
- Strategic Thinking
- Strategic Leadership
- Project Management
- People Management
- Staff Development
- Effective Presentation
- Technical Documentation
- Policies and Procedures
- Public Speaking
- Process Improvements
Awards
- Received recognition for exemplary leadership.
- Recognized for my efforts in demonstrating BNY’s principle of 'Thriving Together.'
- Developed a Reputational Risk model framework for BNY.
- Developed the first and comprehensive sovereign rating model for BNY.
- Western Michigan University nominee for the 2018 CGS/ProQuest Distinguished Dissertation Award.
- Department graduate research and creative scholar award: 2017 - 2018 Graduate College Honors Convocation.
- Department graduate teaching effectiveness award: 2017 - 2018 Graduate College Honors Convocation.
- Outstanding Presentation: 2017 Research and Creative Activities Poster and Performance Day.
- Elias Harik Award for Outstanding New Graduate Student, Department of Economics, Western Michigan University, 2015.
Publications
- The Risk Appetite Handbook: What Every risk Manager Needs to Know, Forthcoming in 2025, Georgetown University Press
- A Markov Regime-Switching Model with Time-Varying Transition Probabilities for Identifying Asset Price Bubbles, Higgins, M.L, Ofori-Acheampong, F., International Journal of Economics and Finance, 10, 4, 1-14, 2018
Community Service
Board Member, Community Health Challenge d.b.a Keystone Wellness Programs, 2023 - Present
Mentoringandcoaching
- Successfully hosted and trained interns from top universities including Carnegie Mellon University, Columbia University, Stony Brook University, Vanderbilt University, and Framingham State University.
- Served as a mentor to several employees at the Bank of New York.
Professionaltrainingandcertification
- Certified Enterprise Risk Professional (CERP)
- ISO 31000 – Enterprise Risk Management
Accomplishments
· Received recognition for exemplary leadership.
· Recognized for my efforts in demonstrating BNY’s principle of “Thriving Together.”
· Developed a Reputational Risk model framework for BNY, with accompanying documentation. This formed the basis for the establishment of a Reputational Risk policy at the bank, as well as the design of policy around the subject.
· Developed the first and comprehensive sovereign rating model for BNY that is extensively used till date to assess the risk of sovereign exposures around the globe.
· Western Michigan University nominee for the 2018 CGS/ProQuest Distinguished Dissertation Award for the Social Sciences.
· Department graduate research and creative scholar award: 2017 - 2018 Graduate College Honors Convocation.
· Department graduate teaching effectiveness award: 2017 - 2018 Graduate College Honors Convocation.
· Outstanding Presentation: 2017 Research and Creative Activities Poster and Performance Day, Western Michigan University, April 2017.
· Elias Harik Award for Outstanding New Graduate Student, Department of Economics, Western Michigan University, 2015.
Certification
· Certified Enterprise Risk Professional (CERP)
· ISO 31000 – Enterprise Risk Management
Affiliations
Board Member 2023 – Present
Community Health Challenge d.b.a Keystone Wellness Programs
Timeline
Senior Vice President, Risk Modeling and Analytics
The Bank of New York
12.2017 - Current
Adjunct Professor
Western Michigan University
09.2014 - 12.2017
Fixed Income Investment Analyst – Team lead
National Investment Bank
06.2011 - 08.2014
Tutor
University of Ghana
08.2009 - 08.2010
Teaching Assistant
University of Ghana
08.2008 - 07.2009
Executive Education - Artificial Intelligence
Massachusetts Institute of Technology (MIT)
Ph.D. - Applied Economics
Western Michigan University
M.A. - Applied Economics
Western Michigan University
M.Phil. - Economics
University of Ghana
B.A. (Honors) - Economics/Mathematics
University of Ghana
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