Meet the Second Pillar Consultants

Bill Nayda
Bill Nayda Bill Nayda, Ph.D., is the Principal and founder of Second Pillar Consulting. Bill and his team assist banks with risk management initiatives including: Enterprise Risk Management, balance sheet strategy, regulatory exams and relations, capital planning and adequacy, Basel II and III, interest rate risk, liquidity risk, portfolio valuation and due diligence, risk based profitability, stress testing and model validation. The firm has assisted top 10 banks with capital adequacy, regulatory compliance and model validation. They have also developed stress testing, balance sheet and income statement forecasting solutions for community and regional banks. Further, they have developed various valuation models for Bloomberg and hedge funds. Second Pillar Consulting developed and teaches ERM for Community Banks for the RMA and their stress testing boot camp. Second Pillar Consulting also developed the RMA’s stress testing workbook for community banks. Our consultants frequently publish in the area of risk management and are quoted in many banking periodicals. Bill’s almost 20 years of banking and insurance experience is focused on risk management, regulatory compliance, corporate governance and structure, and risk-based pricing. Prior to founding Second Pillar Consulting, Bill spent ten years at Capital One in balance sheet strategy, economic capital, regulatory relations and starting the bank's model risk management group. Bill has also helped model and manage enterprise risk at Travelers companies and Allied Irish Bank's U.S. subsidiary. Bill received his Ph.D. in Applied Economics from Texas A&M University and his B.S. in Business and Economics from Rutgers University. While at Texas A&M Dr. Nayda worked for Nobel Laureate Dr. Bruce McCarl on risk and global warming research which was recognized by the Nobel committee.

Susan Devine
Susan Devine CPA, ACAMS is a Senior Consultant with over 30 years of audit and model validation experience. Susan specializes in model documentation and model validation having written numerous procedure manuals, model technical documents, and policies for some of the largest financial institutions and government agencies in the country. In a model validation her focus is on data and input validation, governance and controls, security, adequacy of policies and procedures and adequacy of the documentation. Susan started her career at Deloitte and then went on to become an auditor at Fannie Mae and Freddie Mac before leaving to start her own consulting company assisting financial institutions and government agencies with project management, audit, and technical writing. Some of her engagements include: Capital One, E*TRADE, Food and Drug Administration, Housing and Urban Development, Federal Aviation Administration, and Nuclear Regulatory Commission. Susan graduated from the University of Virginia McIntire School of Commerce with a bachelor's in accounting. She is a Certified Public Accountant and Advanced Certified Anti-Money Laundering Specialist-Audit.

Suzanne Hayden
Suzanne Hayden is a former DOJ senior prosecutor and Special Advisor to the Attorney General, and a world-renowned expert in asset forfeiture who pioneered the use of financial investigations as means of undermining a criminal state and pursuing its leader. Currently she works as a consultant providing anti-money laundering and countering the finance of terrorism expertise to domestic and international clients. Former international prosecutor with over 30 years of experience in worldwide organized crime and narcotics prosecutions, technical assistance delivery in anti-corruption, ethics, transnational money laundering, terrorist financing, narcotics trafficking and war crimes. She lead one of the earliest global stolen assets investigations against a sitting state’s leader, spearheading the financial investigation of then-Yugoslav President Slobodan Milosevic, locating billions of dollars stolen by him and orchestrating his eventual indictment as an international war criminal at the Hague. Ms. Hayden also was the lead prosecutor of one of the most important and effective Continuing Criminal Enterprise prosecutions of the Cali Drug Cartel in the 1990s, targeting its financial and logistical support lines from Colombia into the US. She has developed and conducted training modules for international police, judges and prosecutors on ethics, anti-corruption, asset confiscation and financial crimes; conducted consultations and prepared legislation at the request of over 25 countries. Served as senior advisor in International Organizations, the US Intelligence Community and the US Department of Justice. Ms. Hayden was a delegate to the Financial Action Task Force, addressing international best practices in the field of terrorist financing, money laundering and asset forfeiture. Suzanne holds a bachelor’s in English Language and Literature from the University of Kentucky and a J.D. from the Oklahoma City University School of Law.

George Redka
George Redka is a Senior Consultant with Second Pillar Consulting. George has completed numerous model validations with our clients in the areas of stress testing, rating agency default prediction modeling, and anti-money laundering. He also develops bespoke models and automated software tools for Second Pillar and our clients. George has over 25 years of experience in software design and development having started his career as a systems engineer with Electronic Data Systems and most recently as a Senior Software Development Engineer with Real Networks. His diverse experience includes progressing through technical and leadership roles in the telecommunications, federal government application systems, and mobile entertainment industries. George has expertise in developing and managing client/server application software, proficient in Java EE, Oracle, SQL, Spring, XML, Perl, Solaris, Linux, Unix, JBoss, Tomcat, and Apache. George received a B.S. in Business and Economics from Rutgers University and went on to get numerous software and technical designations.

Lorraine Magee
Lorraine Magee is a Consultant with Second Pillar working on model validations, with a focus on technical writing, documentation, and governance issues, as well as writing policies and procedures. Prior to Second Pillar she was an independent writer and editor of technical and marketing materials for public, private, and non-profit institutions. Before that, she was an attorney for the Board of Professional Responsibility in the District of Columbia. Lorraine was Of Counsel with Henrichsen Siegel, PLLC, where she had primary responsibility for complex trial motions and appellate briefs in state and federal litigation involving contracts, commercial/business torts, construction, professional negligence, products liability, civil rights and constitutional torts. She was also a litigation attorney at Dombroff & Gilmore; Katten Muchin Zavis & Dombroff; and Hughes, Hubbard and Reed. Lorraine holds a B.S. in Criminal Justice from St. Thomas Aquinas College and a J.D. from Georgetown University Law Center.

Alessandra (Olivieri) Dine
Alessandra (Olivieri) Dine is a consultant with Second Pillar Consulting. Alessandra works with Second Pillar on stress testing and financial model validations as well as anti-money laundering. She has years of experience in the financial services industry in the areas of maximizing productivity and efficiency, is an expert forecaster, and an expert in risk management and reporting. Prior to Second Pillar she was a consultant for Thompson Reuters developing forecasting models, dashboards, and KPI metrics. Prior to that she spent 12 years at various divisions of GE in the finance divisions developing decision analytic tools and managing large teams. She started her career as an Auditor with Arthur Andersen, then Lloyds, and ABN AMRO. She has an MBA in Finance from University of Pittsburgh, a Master's Degree in Finance from Escola Superior de Propaganda e Marketing in Brazil, and a Bachelors of Accounting from Unisersity of Sao Paulo Brazil. She is fluent in Portuguese and proficient in Spanish.

Jeffrey R. Stokes
Jeffrey R. Stokes, Ph.D., is a Professor of Finance at the University of Northern Iowa (UNI) and was just named the Nebraska Bankers Association Endowed Professor at the University of Nebraska-Lincoln. Dr. Stokes is also a Senior Consultant to Second Pillar Consulting with over twenty years of experience in academia and consulting combined. He has consulted for numerous top ten banks individually and as a part of Second Pillar. During that time he has validated models in fixed income and trading for investment banks and rating agencies. Dr. Stokes specialty areas are asset valuation, VAR, term structure modeling, default and allowance modeling, stress testing, credit risk migration modeling and econometric methods. He is actively engaged in research and frequently publishes in peer reviewed academic journals on the above topics.

Brett Olsen
Brett Olsen, Ph.D., is an Associate Professor of Finance at the University of Northern Iowa (UNI) and a Consultant to Second Pillar Consulting. Dr. Olsen works with Second Pillar on consulting engagements providing assistance in regression analysis and review of balance sheet and income statement modeling. Professor Olsen is published in the areas of firm valuation, real estate finance, investment performance, and corporate governance. He currently teaches intermediate financial management and international financial management, and has previously taught security analysis and corporate finance. He acts as an advisor to a student-managed equity investment portfolio, a position he also has held at two previous universities. He holds a Ph.D. in finance from the University of Missouri.

Elke Hood
Dr. Elke Hood is another senior consultant with Second Pillar Consulting. Elke received her PhD in Econometrics from the University of Georgia. Dr. Hood went on to develop and run the regional quarterly economic model of the State of Georgia. In addition, she co-directed the design, construction and operation of historical databases and projections of major economic variables for the annual “Economic Yearbook” issue of Georgia Trend. After that she was a professor at Mercer University teaching MBA and undergraduate courses in econometrics, statistics, quantitative methods, business calculus, microeconomics, and macroeconomics. Dr. Hood was then an independent consultant for Capital One Bank where she worked on the firm’s economic capital and stress testing models. For the last several years she has been a consultant with Second Pillar Consulting advising clients on model validations and providing guidance on econometric techniques, modeling theory, and model calibration.

Julie Boyle
Julie Boyle is a Consultant with Second Pillar Consulting having worked on Enterprise Risk Management projects, stress testing and data analysis. Julie has her undergraduate degree in Engineering from Cornell University and her MBA from George Washington University. She started her career at Andersen Consulting and then spent 6 years at Capital One. Julie started her career at Capital One as a data analyst in the card lines and then joined the Finance group to support data analysis and implementation of Bancware. In finance she spent her time developing stress testing models for card and consumer product lines using Monte Carlo simulations that were used in determining the appropriate Capital Allocations for various products and the overall aggregate level of capital for the bank. Julie also managed the data integration for finance and worked on mapping the data for the ALM system Bancware. Finally, while at Capital One she forecasted the P&L for the Subprime business line. During this time she was involved in many ad-hoc projects which included analyzing the effectiveness of the forecast using structural econometric models and time series developing better methods to capture seasonality factors.

Bill Hood
Bill Hood Bill Hood, Ph.D., ABD is a Senior Consultant with Second Pillar whose career spans over 25 years in the financial services industry. Most recently he was a Senior Vice President at BB&T in charge of re-implementing QRM for ALM and FTP. Prior to that he was the Capital Management Production Manager where he led the production of the CCAR stress tests for the bank. Preceding that, he was a senior consultant with Second Pillar working on model validations in the area of ALM, prepayments, deposit studies, liquidity, and anti-money laundering. Bill also headed up ALM for Hancock Holding Company, The South Financial Group, and Capital One as well as working in the ALM departments of First Union and Wachovia Corp. At Capital One Bill worked with BancWare and he implemented BancWare at South Financial. He also implemented Empyrean at Hancock Financial and completed the third party validation of the vendor model. Prior to banking, he was an assistant professor of finance at Mercer University where he taught Investments, Corporate Finance and Banking at the undergraduate and graduate levels. Mr. Hood holds an M.B.A. from Appalachian State University and is ABD in Finance from the University of Georgia.

Chen Gao
Chen Gao Chen Gao, Ph.D., ABD, Chen is an intern with Second Pillar Consulting working on stress testing model validations. Chen has completed numerious time series model replications for DFAST banks in SAS and R and evaluates there efficacy and statistical soundness. He has also worked on developing scoring models using artifical intellegence methodologies. He is completing his Ph.D. in Applied Economics at Texas A&M University with a specialty in Finance. Chen’s dissertation work is in the area of commodity futures price discovery using Vector Error Correction Methods to understand the transmission of market volatility between futures and spot markets using an Asymmetric-ECM GARCH modeling approach. Chen has several publications and presentations in the areas of technical efficiency, demand analysis, and monetary policy. He is also a graduate instructor teaching the courses Economic Analysis for Agribusiness Management and Intermediate Quantitative Methods for Economics. Mr. Gao is expected to complete his Ph.D. in May of 2019. He has a Masters in economics from Texas A&M and a Bachelors of Science in Finance from Southwestern University of Finance and Economics in Chengdu, China.

I think you would find it a pleasure working with our team of professionals. We have years of experience in all types of modeling and model validation and we like to spend time teaching our clients along the way.

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Bill Nayda:
(804) 432-1629
11174 Lake Shore Ct.,
Glen Allen, VA 23059