NEW YORK, April 20, 2015 /PRNewswire/ -- EY announced today that David Emmel, former Manager of Credit, Market and Liquidity Risk Policy for The Board of Governors of the Federal Reserve System, joined the EY Financial Services Organization (FSO). Emmel will be a senior leader within the practice's Financial Service Risk Management liquidity risk team.
Prior to joining EY, Emmel led the interagency group at The Board of Governors of the Federal Reserve System responsible for proposing and finalizing the Basel III Liquidity Coverage Ratio (LCR). He was an active member of a Basel Committee working group that finalized the Basel Net Stable Funding Ratio (NSFR). He also headed the working group on liquidity to finalize Section 165 enhanced prudential standards for both domestic and foreign institutions operating in the United States. In addition, Emmel oversaw and directed securities classification guidance, Dodd-Frank appraisal regulations and credit risk-related guidance.
"I am very pleased to welcome David to our team. The wealth of experience he has from his time with The Federal Reserve gives him a deep, firsthand understanding of the intent behind and impacts of expanded regulations within the industry – particularly in the banking industry," said Peter Davis, Principal and Financial Services Risk Management Leader, Ernst & Young LLP. "David is the right person to help EY continue to grow its experience and leadership in the critical areas of regulatory reform and liquidity management."
Emmel will use his liquidity risk and treasury experience at EY to help clients navigate regulations and supervisory initiatives. He will also be responsible for helping EY's liquidity teams identify emerging issues and provide guidance to clients on how best to address and manage potential risks.
"EY is made up of exceptional minds in the field of financial services risk management, so I'm very excited to be a part of the FSO's liquidity risk team," said David Emmel. "I look forward to helping maintain EY's high standard of client service and further improve how we help clients strategically manage liquidity and capital to achieve their potential."
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.
This news release has been issued by Ernst & Young LLP, a member of the global EY organization that provides services to clients in the US.