Wolters Kluwer Financial Services Continues Expansion of Regulatory and Risk Management Consulting Practice

Minneapolis, MN - 21 February 2013

Wolters Kluwer Financial Services announced today that it continues the expansion of its Consulting Practice with the addition of two senior consultants, who together have more than 50 years of financial services industry experience.

Thomas Grundy joins the company from KPMG where he was a manager in the firm’s Financial Risk Management practice. Additionally, Jeffrey Kalscheur joined the company from M&I Corporation (M&I), where he was a vice president and internal compliance audit manager. Both Grundy and Kalscheur are former federal regulators as well. Grundy worked for the Office of the Comptroller of the Currency (OCC) and the Federal Reserve Board (FRB), and Kalscheur for the Federal Reserve Bank of Minneapolis and former Office of Thrift Supervision (OTS).

“The addition of Tom and Jeff to our team is in direct response to our customers’ growing and evolving concerns in the areas of risk and compliance management,” said Timothy Burniston, vice president and senior director for Wolters Kluwer Financial Services, who leads the company’s Consulting Practice in the U.S. “Today’s financial services organizations face an overwhelming number of new regulatory requirements, complex compliance management challenges, growing internal and external fraud concerns, as well as the need to adjust to different supervisory approaches from the regulators. It’s no longer enough to just meet the technical requirements. Regulators are demanding organizations implement holistic and transparent enterprise compliance and risk management programs.”

Burniston noted Grundy and Kalscheur’s knowledge and experience builds upon that of his existing team of consultants that includes former regulatory examiners, compliance officers, risk managers, regulatory attorneys, executives, operations managers and technology experts. Working together as part of Wolters Kluwer Financial Services’ Consulting Practice, these experts provide financial organizations with risk management, regulatory compliance and strategy development services.

Grundy has served the financial services industry for more than 27 years as a former regulator, compliance professional, and consultant—most recently at KPMG. He has significant experience in risk-based enterprise compliance program assessment, development and implementation; governance processes; compliance training; pre-charter conversion reviews; and regulatory examination management and response. He also has experience performing targeted assessments for compliance with a wide range of federal consumer protection and safety and soundness laws and regulations impacting lending, deposits, electronic banking, information privacy and security, trust and fiduciary operations, community reinvestment, and anti-money laundering (AML).

Kalscheur has over 25 years of industry experience, including more than a dozen years in internal audit with Firstar Corporation and M&I; six years as a regulatory compliance examiner with the FRB and OTS; and six years providing regulatory compliance, internal audit and loan review consulting services. While at M&I, he managed audits of credit-related activities, including origination, servicing, and disposition, as well as credit policy development and adherence. At Firstar, he helped to develop and implement its regulatory compliance internal audit program and managed audits of the mortgage, consumer loan, and consumer and commercial operations areas. As a consultant, he developed and executed regulatory compliance reviews, AML/Bank Secrecy Act independent reviews and training presentations, as well as Sarbanes-Oxley control identification and assessment projects.

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