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Data Science and Analytics |
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ISchool 296A Spring 2012 |
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Commercial Bank Charge-Off's - The need for a system view
David Joffe Managing Director and Quantitative Risk Executive Bank of America
Abstract Macroeconomic cycles create both risk and opportunity for financial institutions. In order to maintain positive earnings in each phase of a credit cycle, banks must have a properly diversified portfolio. Proper risk diversity requires one to understand not only the individual asset classes, but how those relationships and network effects change as a system through time. We will discus these topics and the role of data analytics in these contexts in modern banking systems.
Bio-sketch Dave Joffe is the Quantitative Research Executive for the Information Exchange Team. In this role, he is responsible for working with business partners to find revenue and risk mitigation opportunities through the use of proprietary information, supporting the community of quantitative analysts at Bank of America.
Dave has held various roles in the medical research, information technology, government, and financial sectors. He has broad experience in software engineering and quantitative analysis. Dave’s intellectual curiosity, ability to bring information together, to draw conclusions, and to focus on the needs of an organization lies at the heart of his strength as an executive. Dave started his career in a neurobiology lab at Duke University developing systems for data capture, processing, and reporting of research results. Early in his career, he also worked in municipal government with the City of Charlotte. Utilizing skills he acquired in the neurobiology lab, he set up systems to organize data into meaningful information. While working in this role, he returned to school and earned a Master’s Degree in Computer Science.
In 1993, Dave joined the Bank and for the next three years, used his knowledge of business systems and technology to streamline processes, integrate various technologies and reduce expense. Beginning in 1996, he led Profitability and Reporting, Investment Banking Pipeline, Investment Banking Market Share, and Investment Banking Deal Accounting technology teams. Always on the lookout for ways to turn data into information useful to business leaders, he helped to develop “client folders” which enabled client information to be aggregated and accessed. David and his team also developed systems to track progress in corporate and investment banking deals, client profitability, and encouraged interaction among Corporate and Investment Banking and Global Capital Markets teams. |
