FINRA Names Consolidated Exam Team

Each firm will be assigned a single point of accountability, the leader who has ultimate responsibility for the ongoing risk monitoring, risk assessment, planning and scoping of examinations tailored to the risks of a firm's business activities.

In the coming weeks, FINRA said that it will notify each member firm of its single point of accountability and its new risk monitoring teams.

FINRA's 2020 exam program will operate under the new structure.

The senior leadership team that will oversee Member Supervision's exam and risk monitoring functions and report directly to Havlik is:

• Tom Nelli, senior vice president, will lead the teams responsible for executing the exams, setting standards across the firm groupings, and quality assurance testing.
• Ornella Bergeron, senior vice president, will lead the Single Point of Accountability and Risk Monitoring teams for the Carrying and Clearing and Diversified firm groups.
• Bill St. Louis, senior vice president, will lead the Single Point of Accountability and Risk Monitoring teams for the Retail and Capital Markets firm groups.
• Tim Thompson, senior vice president, will lead the Single Point of Accountability and Risk Monitoring teams for the Trading and Execution firm group.

Thompson will remain a part of Market Regulation's Trading and Financial Compliance Examination team, working closely with Havlik and the Member Supervision team.

Other Member Supervision leaders that will provide guidance and support to inform FINRA's exam and risk monitoring efforts, and report to Havlik, are:

• Kerry Gendron, senior vice president, Data Analytics and Technology Strategy, will lead a team focused on the strategic adoption of data analytics and technology solutions for Member Supervision.
• Ursula Clay, senior vice president and chief of staff, will lead the Core Functions teams that will provide support across all Member Supervision groups.

Mike Rufino, executive vice president, will continue to serve in his role as a senior advisor including focusing on investor protection issues and will report directly to Havlik.

Bill Wollman, executive vice president, will lead a new Office of Financial and Operational Risk Policy within FINRA's Office of General Counsel, reporting directly to Chief Legal Officer Robert Colby while also continuing to coordinate closely with Member Supervision.

In August, FINRA announced that Cam Funkhouser, executive vice president of the Office of Fraud Detection and Market Intelligence, would retire at the end of this year.

In his place, FINRA is creating a new executive role leading the National Cause and Financial Crimes Detection Programs and has begun a search for that position.