Timothy Stokes works within FTI Consulting's Financial Services practice where he manages large-scale regulatory advisory and remediation projects for clients. Mr. Stokes has extensive know-how and expertise in regulatory compliance and operational risk management within the consumer finance industry. Mr. Stokes has more than 20 years of experience as an executive-level industry practitioner, trusted advisor, and regulator.
Mr. Stokes assisted with the development and execution of remediation and settlement action plans for several large clients in response to regulatory or legal enforcement actions related to Unfair, Deceptive, or Abusive Acts or Practices (UDAAPs), Section 5 of the Federal Trade Commission Act, consumer complaints, and the Servicemembers Civil Relief Act (SCRA). Mr. Stokes also served in Chief Compliance Officer and Fair Lending Officer secondment roles for mid-size banks. Mr. Stokes has assisted clients with development and implementation of Compliance Management Systems and Operational Risk Management Programs. Additionally, Mr. Stokes has overseen the review and testing of governance, risk, and compliance frameworks for Financial Technology companies (FinTechs) to ensure their products and services, operations, and compliance practices were in alignment with regulatory expectations and partner bank requirements.
Prior to consulting, Mr. Stokes was the Chief Compliance Officer of a Texas-based community bank and the Vice President of Operations and Compliance at a mid-size credit union. In both roles Mr. Stokes was responsible for the development and implementation of the institutions; compliance programs, regulatory exam management and response, and day to day management of Compliance Department activities.
Mr. Stokes also served as a Senior Regulatory Outreach Specialist with the Financial Crimes Enforcement Network (FinCEN). In his role with FinCEN, Mr. Stokes was instrumental in the development and launch of the agency's BSA e-filing system and for serving as a liaison between FinCEN and the prudential regulators' anti-money laundering divisions.
Mr. Stokes has spoken at the American Bankers Association Regulatory Compliance Conference and a Consumer Bankers Association webinar on regulatory risk assessment and risk management.