Richard Palmer is a Senior Managing Director at FTI Consulting. He is a member of the Technology practice and is based in the London office. Richard brings over 20 years of experience having held senior positions in software engineering, strategy consulting, cloud-based data analytics and forensics. During this time Richard has worked with many of the world’s leading organisations in financial services, telecoms, media and travel.
Richard works with clients to use sophisticated technology to address complex legal, regulatory and business matters, including financial fraud investigation, compliance process enhancement and customer remediation. He brings deep domain expertise in developing and applying bespoke analytics solutions through the entire lifecycle, from original idea, through to implementation and benefit realisation.
Richard managed a portfolio of large-scale customer rectification programmes for a UK high street bank in order to return historical arrears management fees back to the customer. This entailed data extraction from multiple lending platforms, calculation of redress payments, customer tracing and payments. During this programme Richard developed a fully automated solution that has returned hundreds of millions of pounds in fees to over a million individual customers with minimal manual intervention or error.
Richard has also worked extensively with a Tier 1 investment bank throughout the Global FX Investigation. Richard led the team that undertook the investigation into a six-year back-book of FX trading and developed key insights on trading behaviour that were used to support settlement with the global regulators. These insights were subsequently integrated into custom built compliance monitoring solutions to form part of the remediation plan set-out by the regulators. This compliance monitoring solution and supporting business processes have been BAU across the bank for over three years and enjoyed positive feedback from its user groups. Due to this extensive work during the investigation and remediation, the bank benefitted from substantially lower fine from the regulators.
Prior to joining FTI Consulting, Richard held a position within EY’s forensics and integrity services practice. Previously Richard was European Head of Software & Science for Opera Solutions working in Big Data analytics and has also held senior positions in management consulting and strategy consulting firms.
Richard holds a Ph.D. in Computer Science with a focus on Artificial Intelligence, as well as an M.B.A. with an emphasis in Strategic Management.
Richard has published and presented at numerous data analytic conferences and has also acted as an advisor to the UK Government and EU on technology transfer programmes.