Scott Parker has over 25 years of experience providing Governance, Risk and Compliance services to the insurance/reinsurance industry, including the Internal Audit Department and MGA Audit Department of major insurance companies and is a part of FTI Consulting’s Global Insurance Services practice. His experience and expertise include MGA/TPA auditing, Internal Auditing, Reinsurance treaty review and Litigation Support. His experience also includes in excess of 15 years in the consulting arena.
Scott has performed in excess of 400 MGA audits, recently 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 $7M and $2M, respectively.
Scott has also performed numerous proportional treaty reviews that identified significant premium due his client and overbillings of claims that his client was able to recover. In one such instance this included the analysis of over 10M 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. He has also 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 in excess of 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, Pennsylvania and New York. He holds a Bachelor of Arts Degree in Accounting and Information Systems from Queens College City University of New York.