Preston Thompson is an Executive Director in the Financial Services Office of Ernst & Young LLP. Preston leads our capital management team which focuses on Basel II/III implementation and qualification and those firms that are subject to the Federal Reserve�s Capital Plan rule and associated stress testing regime (i.e., CCAR and DFAST). His areas of expertise include many aspects of banking with special emphasis on capital regulation, risk management and controls, and supervision of systemically important institutions. He advises EY global financial services clients on issues related to capital, risk management, and governance, as well as evolving supervisory policy trends and their implications on bank�s business models. Preston joined EY in 2011 after more than 18 years within the Federal Reserve System. One of Preston�s principle responsibilities was acting as the Federal Reserve System�s Basel II Coordinator. In that capacity Preston was responsible for overseeing virtually all aspects of Basel II implementation and qualification in the US. Preston led a number of multi-disciplinary teams that included subject matter experts across a wide range of specific risk dimensions. Preston and his teams worked closely to develop strategies that further articulated the qualification expectations and to assess individual institutions� progress towards meeting the various requirements. Preston was also responsible for coordinating interactions between the Federal Reserve and other US regulators.At the Fed Preston was involved in the Basel process for nearly a decade. His early work involved helping to craft language of the various rule iterations and related supervisory guidance, as well as helping to direct the design, collection, and analysis of data received in the QIS and Loss Data Collection Exercises. In addition to his Basel responsibilities Preston was involved in the ongoing efforts to develop a robust macro-prudential and firm specific supervisory process for the largest, most complex, and systemically important banking organizations operating in the U.S. In that role Preston served on a number of System-wide committees and workgroups that focused on identifying key risks and vulnerabilities across a number of dimensions. Since joining EY Preston has been involved in a number of engagements that include Basel II and III assistance, CCAR and capital planning efforts and preparations for various elements of the Dodd-Frank Act.Preston holds an undergraduate degree from the University of Alabama at Birmingham and an MBA from the Edinburgh Business School at Heriot-Watt University in Edinburgh, Scotland.
Like what you see? Make sure you're getting it all
Authoritative coverage, data and analysis of deals across structured finance markets