This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Standard & Poor's Appoints Two Senior Risk Management Executives

NEW YORK, March 12, 2013 /PRNewswire/ -- Standard & Poor's Ratings Services today announced the appointments of Demetrios Lefakis as Chief Quality Officer and Michael Walloga as Managing Director, Model Validation. Both executives will report to Donald R. Howard, Chief Risk Officer, and serve on the Global Risk Management Leadership team.

"Demetrios and Michael are important additions to our risk management organization," said Mr. Howard. "At S&P, quality review and model validation play a critical role in our ratings analysis and research. Strong internal controls reinforce the integrity of the rating process."

As Chief Quality Officer, Mr. Lefakis will lead the group at S&P that monitors the application of methodologies, processes, criteria and policies globally. He will support analytic process enhancements and monitor economic and market data to ensure that changing market trends and risk attributes are reflected in our ratings. Mr. Lefakis will also support internal audits and regulatory examinations. Mr. Lefakis will be based in New York and will have a team of 37 reporting to him, including S&P's three senior quality officers.

Before joining S&P, Mr. Lefakis worked at Citigroup in New York as Global Head of Credit Risk Review.  In addition, he had served as the Global Head of Audit & Risk Review, of Reviews and Infrastructure, and of Fundamental Credit. In these roles, he was responsible for the review of the Corporate, Consumer, Commercial and Private Bank Credit processes and policies for Citigroup worldwide. He also spent several years working as the Chief Risk Officer and an Executive Committee Member for the National Bank of Greece in Athens.

Mr. Lefakis earned his master's degree from Johns Hopkins University, School of Advanced International Studies, in International Affairs and his bachelor's degree, also from Johns Hopkins, in Economics and International Affairs.

As Managing Director, Model Validation, Mr. Walloga is responsible for S&P's model validation globally and identifying and managing model risk. He will enhance the current model validation process. Mr. Walloga will be based in Chicago and have a team of 10 reporting to him.

Mr. Walloga brings more than 25 years of experience in credit scoring, credit policy and model oversight within large financial firms. Most recently, Mr. Walloga worked at HSBC, where he was the Head of Model Risk Audit. Before that, he held other positions at HSBC, including Head of Independent Review and Director of Scoring and Risk Management.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,981.28 -102.52 -0.60%
S&P 500 1,980.45 -7.53 -0.38%
NASDAQ 4,448.2070 -23.9010 -0.53%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs