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Harrison Stone

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Executive Search Firm Unveils New Risk Management Solution for Financial Institutions

New York, NY, June 18, 2014 --( Harrison, Stone & Associates, LLC, search and placement specialists for the financial industry, announced today that it has completed several CCAR searches with a global Insurance Company. These positions ranged from Managing Director to Vice President.

Amidst increasing risks and compliance complexity, the New York City firm has been instrumental in helping the largest financial institutions comply with Federal Reserve CCAR requirements. They have created teams that conduct model validation, economic capital modeling and remediation, corporate governance policies and training, and operational risk measurement and control. Clients include Insurance Companies, Banks, and Non-Bank Financial Institutions.

The Dodd-Frank Wall Street Reform and Consumer Protection Act requires the Federal Reserve to conduct annual stress tests of bank holding companies with total consolidated assets of $50 billion or more.

The Comprehensive Capital Analysis and Review (CCAR) is an annual exercise by the Federal Reserve to ensure that institutions with total consolidated assets of $50 billion or more have robust, forward-looking capital planning processes that account for their unique risks, plus sufficient capital to continue operations throughout times of economic and financial stress.

“The approach to capital planning for the largest bank holding companies has changed dramatically in light of today’s regulatory and financial environment,” says Robert Pestreich, President of Harrison, Stone & Associates. “Most of these firms are looking for compliance talent to hire and planning to expand their compliance teams,” Mr. Pestriech added.
Contact Information
Harrison, Stone & Associates LLC
Robert Pestreich
666 Fifth Avenue
Suite 342
New York, NY, 10103

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