Digital Transformation of the Second Line of Defense

Compliance and risk functions can enhance their oversight of Financial Services by using some of the same principles which have transformed business operations over the last decade.

Praful Mainker

Executive Director, Data Science, Compliance Analytics, Automation, AI, Machine Learning, JPMorgan Chase

Praful Mainker is a global transformation executive with leadership command over Technology, Operations, and Risk Management. An early proponent of the Digital Transformation, Praful has applied Machine Learning, Automation and Visualization techniques to Home Lending, Card, and Digital Compliance Operations at JPMorgan Chase, one of the largest Financial Institutions in the world.

Earlier, as the Head of Regulatory Compliance, Praful successfully transformed MoneyGram’s Regulatory Operations, Technology and Compliance infrastructure. MoneyGram is the world’s second largest Money Services Business (MSB), active in 200+ countries.

Previously, as SVP, Operational Risk Management at Citi Mortgage (CMI), Praful led the vast organization through one of the toughest periods in the recent history of the Mortgage Industry. Praful shepherded Mortgage Operations through an intense transformation phase which implemented enhanced controls, streamlined processes, and expanded operations to cover new functions mandated under the Mortgage Consent Order (MCO) by the Office of the US Comptroller of Currency (OCC) and the US Federal Reserve Board (FRB). The Mortgage Consent Order was lifted in June 2015.

At Capital One Financial Services, Praful grew his sphere of influence from being an individual, high performance Program Manager to build high performance teams in Technology Operations, Technology Business Management and Mortgage Operations. Praful’s leadership shone through in several high pressure acquisitions, such as, Hibernia Bank and PeopleFirst. Praful incorporated automated integration using B2B communication, such as in case of an Auto Buying program with an external partner, and with the Mortgage Fulfillment process.

Praful has led global, market leading initiatives for Utility Industry (Germany and India), Telecommunication Industry (Germany, and USA), as well as for the Healthcare Industry (USA). Praful has a global patent for his innovative automation in Telecommunications industry, which has spawned subsequent innovation over the years.

As a life-long Science, Technology, Engineering and Mathematics (STEM) education evangelist, Praful has raised tens of thousands of dollars for scholarships over the years for DFW area schools and has served on the Advisory Board of UT Dallas Jindal School of Management.

Praful earned his MS in Electrical Engineering with research focused on Artificial Intelligence, has been a CFA Charter holder since 2005, and a certified Project Management Professional (PMP) since 1998. Praful trained at the Wharton School of Management at the University of Pennsylvania in Enterprise Risk Management alongside some of the brightest brains in the Risk Management field.

Praful has lived in the Dallas/Fort-Worth (DFW) area for 25 years with his family.


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