Margaret Shea is a Managing Director in the Financial Services practice based in San Francisco. Ms. Shea has industry expertise in consumer lending, compliance operations, operational risks and controls, operational effectiveness, disputes and litigation. Ms. Shea has almost 20 years of experience providing regulatory compliance, forensic accounting and investigations, financial analysis and dispute resolution consulting services.
Ms. Shea manages and performs reviews and risk assessments of operational controls on behalf of financial institutions in response to mitigating regulatory compliance, operational and reputational risks. She has led several key initiatives and assisted financial institutions with managing and reviewing regulatory compliance obligations in the consumer finance industry, specializing in assessing and remediating controls.
Ms. Shea’s recent experience includes leading teams performing customer remediation efforts in relation to regulatory actions, including identifying impacted populations and quantifying remediation amounts, and validating new or enhanced control processes implemented in relation to these remediations. She is currently acting as the independent third party administrator on a prepaid card remediation effort required by Consent Orders from the Consumer Financial Protection Bureau (“CFPB”) and Office of the Comptroller of the Currency (“OCC”), as well as the Independent Assessor for a CFPB Consent Order related to unauthorized applications and accounts. She has previously served as the Independent Consultant for an OCC Consent Order in the Independent Foreclosure Review, including developing the methodology for and leading a team in reviewing and scoping borrower complaints related to foreclosure and loss mitigation.
Ms. Shea has served as the interim Head of Compliance for a consumer finance company, managing daily operations of the compliance department, remediating state regulatory findings and handling consumer litigation and complaints. Her tasks also included providing compliance guidance to business operations for strategic initiatives, liaising with outside counsel and regulatory agencies, and preparing and presenting executive and board reporting. Specific issues addressed included fair lending, debt collections, complaints management, data privacy and general consumer protections.
Additionally, Ms. Shea has managed and provided support in providing expert opinions related to various consumer finance regulations. She has led multiple teams engaged by outside counsel on a variety of matters related to mortgage servicing, student lending and asset-backed securities valuation. In addition to her work supporting expert opinions, Ms. Shea has provided extensive consulting and investigation support to outside counsel on multiple white-collar criminal defense matters involving allegations of accounting fraud. Ms. Shea’s prior experience focused on white-collar criminal defense litigation support, forensic accounting and investigations and disputes resolution, combined with deep financial services industry expertise, has enabled her to become a trusted advisor to senior leadership at financial institutions.