Scott Parker

Scott Parker has more than 30 years of experience providing governance, risk and compliance services to the insurance and reinsurance industry, including the internal audit department and managing general agents (“MGA”) audit departments of major insurance companies. Scott is part of FTI Consulting’s Global Insurance Services practice. His experience and expertise include MGA and third-party administrators (“TPA”) auditing, internal auditing, reinsurance treaty review and litigation support. His experience also includes more than 20 years in the consulting arena.

Scott has performed in excess of 500 MGA audits, identifying fraud and embezzlement for two of his clients using data mining techniques that focused the audits on areas of potential risk. The result was a recovery of approximately $7 million and $2 million, respectively.

Scott has also performed numerous proportional treaty reviews that identified significant premium due his clients and overbillings of claims that his clients were able to recover. In one such instance this included the analysis of more than 10 million records to identify specific transactions that were miscoded and resulted in recoveries to his client.

Scott has been involved in several litigation support cases where he has testified in court and to an arbitration panel as a fact witness. In addition, has participated in corporate investigations where fraud and embezzlement were detected. In another instance, he led a tracing project using the lowest intermediate balance rule that analyzed more than 12,000 transactions across 15 bank accounts over a period of two years with 150 individual transfers between bank accounts to determine the remaining funds available to collateral holders.

Scott is a Certified Public Accountant in New York. He holds a B.A. in accounting and information systems from Queens College City University of New York.

Relevant Experience:

• Prepared a tracing analysis using the lowest intermediate balance theory to trace collateral through numerous bank accounts; determined the final ending balance of collateral remaining
• Performed a forensic investigation for an insurance company into the MGA that wrote business on behalf of the insurance company; identified $30 million of misappropriated funds
• Performed a forensic audit of an MGA; identified $7.5 million of misappropriated funds, where the MGA had collected the premium but had not remitted to the insurance company