Dodd-Frank: What to Expect in 2012

Dave Mader of Booz Allen Hamilton on What Banks Should be Doing Now
It's been well over a year since the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act. How should banking institutions prepare for the hundreds of new regulations expected to come as a result of this landmark legislation?Dave Mader, senior vice president at Booz Allen Hamilton, says even without firm new regulations, financial institutions of all sizes are already undergoing change.

"What's happening - and I think it's the right reaction by the industry - is [banks] read the bill just as you and I read the bill, and they're starting to take steps in anticipation of those ensuing regulations."

Part of this preparation is just understanding the bill, Mader says. And part of it is securing the right counsel - in-house or out-of-house - to understand the regulatory mandates to manage business and risks going forward.

"People are going to have to spend the time to understand the significant impact of the various provisions of this bill and how it's going to translate into how they do business going forward," Mader says. "Because [business] will be very different in some cases."

In an exclusive interview about Dodd-Frank and its impact on banking institutions, Mader discusses:

  • Changes we have seen so far in the banking landscape since the passage of Dodd-Frank;
  • How Dodd-Frank most impacts banking/security leaders and organizations;
  • What milestones we are likely to see in the next year.

For more information, please see Insights into Dodd-Frank Regulations

As a Senior Vice President at Booz Allen Hamilton, Mader leads the firm's business in support of U.S. Department of Treasury, Freddie Mac and Fannie Mae, as well as the Executive Office of the President, Congress, Office of Management & Budget, Office of Personnel Management, General Services Administration and Government Accountability Office.

Mader is a lecturer for the Change Management Advanced Practitioner program at Georgetown University's McDonough School of Business. He is also the recipient of both the Distinguished and Meritorious President Rank Award the Treasury Secretary's Honor Award.

Formerly employed as an IRS assistant deputy commission, he was part of a team that researched techniques for effecting real change in government.




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