The Volcker Rule Panelists Jai Massari, Associate, Davis Polk (Moderator)

Jai Massari is an associate in Davis Polk's Financial Institutions Group and the Trading and Markets practice in Washington DC.  She advises major global banks, asset managers, and corporations on a variety of financial regulatory topics. Her primary focus is on assisting market participants in understanding, implementing and complying with derivatives regulations, particularly Title VII swap regulations. She also advises financial institutions on the proprietary trading and covered funds provisions of the Volcker Rule.  She frequently works with industry organizations in connection with advocacy efforts on legislative and regulatory proposals. 

Two years ago, Marshall decided to change paths. He has been a Senior Fellow at the Mossavar- Rahmani Center for Business and Government at the Harvard Kennedy School and will be there next year, along with the Committee on Capital Markets Regulation and the Program on International Financial Systems. His overall writings have concerned the unexpected consequences of Dodd-Frank on financial services. He has written papers entitled “The State and Fate of Community Banking” and “What’s Behind the Non-Bank Mortgage Boom?” He has a paper to be published in early March titled “Access Denied: The Regressive Effects of Decreased Consumer Credit Product Access.” All published papers were cited on the front page of the Financial Times. Marshall has also spoken broadly, including at the House Small Business Committee, the Federal Reserve, and various Universities and trade groups.

Marshall attended the Woodrow Wilson School and graduated Summa Cum Laude. He also attended Harvard Business School where he was a Baker and Ford Scholar (awarded to the number one student in each graduate school).

John Conneely, Deputy Regional Director for Risk Management, FDIC New York
John Conneely is the Deputy Regional Director for Risk Management Supervision in the FDIC's New York Region, a position he has held since 2013. In this role, he directs the supervisory programs for FDIC-insured banks and thrifts in the Mid-Atlantic States. He previously has held the positions of Assistant Regional Director, overseeing FDIC-insured institutions in New York State; Senior Examination Specialist, advising regional management on supervisory policy and assisting in the analysis and examination of complex and problem institutions; and Case Manager, managing a portfolio of domestic and foreign-owned insured financial institutions. John began his career at the FDIC in 1989 as a Bank Examiner in New York City. John has also served in variety of other roles during his FDIC career, including: Acting Deputy Director (Risk Analysis & Pricing), Division of Insurance and Research; Acting Associate Director (Resolution Planning), Office of Complex Financial Institutions; and as an instructor at the FDIC's Corporate University. He also served as a Financial Policy Advisor to the U.S. Department of Treasury, Office of International Banking & Securities Markets.
John holds an M.S. and B.S. in Banking & Money Management from Adelphi University, Garden City, NY, and has completed the PRMIA Course in Risk Management at Columbia University.

Terry Jorde, Independent Community Banks of America

Terry Jorde is the Senior Executive Vice President and Chief of Staff at the Independent Community Bankers of America® (ICBA) in Washington, D.C. She is responsible for directing the organization’s staff to fulfill the strategic objectives developed to serve and protect the nation’s community banks. As a member of ICBA’s executive management team, Terry is integral to the management of the entire enterprise; with over 200 employees in 14 geographically diverse national offices, serving nearly 5,000 member banks. Prior to joining ICBA, Terry was President and CEO of CountryBank USA in Cando, N.D. As Chairman of the Board and majority stockholder, Terry led the bank to enter new markets by increasing its footprint and adding new financial products and services. Under her direction, the bank diversified its noninterest income to an unprecedented 45 percent of total revenue. As a nationally recognized thought leader and community banking career professional, Terry is recognized as an advocate for the community banking industry. The American Banker® newspaper named her one of the Top 40 Bankers under Age 40 and Northwestern Financial Review named her Woman Banker of the Year when she was only 33 years old. In 2006, she was featured in Business Watch magazine as one of North Dakota's top business innovators and the same year US Banker magazine named her one of the 25 Top Women to Watch. She is frequently quoted in national trade publications, has made presentations to numerous state and federal symposiums, testified before the U.S. Congress and spoken to thousands of bankers in nearly every state in the country.

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  The impact and implementation of the Dodd-Frank Act, particularly related to the Volcker Rule;
  
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  Implementation of various requirements for enhanced prudential standards under Section 165 of the Dodd-Frank Act;
  
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  Circumstances when one company would control another company under the BHC Act, as well as proposals related to divestiture of control under the BHC Act;
  
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  The bank regulatory aspects of Banco Santander, S.A.’s proposed joint venture with UniCredit, S.p.A. and Warburg Pincus to combine Santander Asset Management with Pioneer Global Asset Management, with total assets under management of approximately €400 billion; and
  
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  Permissibility of a wide variety of activities under the BHC Act and the National Bank Act, as well as the effect of Sections 23A and 23B of the Federal Reserve Act on inter-affiliate transactions.
  

Between 2008 and 2014, Chris served in the Legal Division of the Board of Governors of the Federal Reserve System where he concentrated on regulation of banks and bank holding companies under the Bank Holding Company Act (“BHC Act”), Change in Bank Control Act, and Federal Reserve Act, among others. Most recently, he worked on implementation of various aspects of implementing the Dodd-Frank Act, including the Volcker Rule, swaps push-out, and financial sector concentration limit.  During his time at the Federal Reserve, Chris also worked on and advised regarding numerous U.S. and non-U.S. mergers and acquisitions of all types and sizes involving banks, bank holding companies, and nonbanking subsidiaries. During his tenure, he was involved in overseeing the conformance of a number of new bank holding companies, including work on determining whether certain activities were permissible under the BHC Act. 

Curtis is a Managing Director and Associate General Counsel at Citigroup, and advised on bank and bank holding company regulatory matters at Citigroup from 2005 to 2009, and returned to Citigroup in November 2011. From 2009 to November 2011, Curtis was an Associate General Counsel at Goldman Sachs, also advising on bank and bank holding company regulatory matters.

From 2001 to 2005, Curtis was an associate at the law firm of Cleary, Gottlieb, Steen & Hamilton LLP. Curtis clerked for Chief Justice Deborah T. Poritz of the New Jersey Supreme Court for the 2000-2001 term, and for Judge John L. Coffey of the Federal Court of Appeals for the Seventh Circuit for the 1999-2000 term.  

Curtis received his J.D. from Rutgers School of Law, Newark (1999), and his B.A. from Rutgers University (1995).  Curtis is admitted to practice in New York and New Jersey.