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Business, Banking & Financial Ethics Consultant |
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The Value of Using a Business Ethics Consultant
Operating a successful business is not an easy job today. It never has been, for that matter. As competitive pressures have increased, so has the pressure on management and boards of directors to produce superior results, year after year. Compounding the difficulty of the situation of having to produce ever-better results is the parallel situation that competitors often use unethical tactics in order to achieve their results, against which your results will be measured. Clearly, this tempts management and boards of directors to bend rules and policies and look the other way at some important items. And by extension, the situation includes the services provided by outside parties such as accounting and law firms. As anyone who has read a newspaper lately can attest, these short-term fixes often do not hold up to ethical scrutiny and can lead to devastating financial and public relations results.
If you are a CEO or a Chairman of a Board of Directors, then you should be asking yourself what have you done to protect your company from ethical problems. When ethical problems pop up, this is the question that will be asked of you by the legal community, law enforcement, media, your customers or clients, your suppliers, the regulatory community, special interest groups, the public, and others. Addressing ethical concerns before they become problems and public is much cleaner and cheaper than dealing with them after they are widely known. Appointing a committee of existing employees or board of directors members to deal with these problems is self-defeating since it is their actions that must be considered. Objectivity is impossible in this situation. Similarly, the same problems exist with hiring your outside accountants or lawyers since their actions must also be considered as well as their potential willingness to deliver bad news to you since their future relationship with your company could be jeopardized.
The most effective means of dealing with tricky ethics issues is to obtain the advice of a respected outside source who is knowledgeable in business and ethics, and whose remuneration is not tied to the outcome of the inquiry. Only by obtaining an opinion from an informed and independent source can you be assured that you have in hand evidence that you have made an attempt to reach the most ethically acceptable answer to your important issues.
Some various areas that might be considered for an ethics review are:
Compensation matters for executives and directors.
Outside activities of executives and directors.
Conflicts of interest.
Accounting policies.
Relationships with outsiders such as suppliers, customers, and clients.
Relationships with outside professionals such as lawyers, accountants, et. al.
Investment banking issues.
Personnel matters, including nepotism, hiring and termination procedures.
Discrimination and bias matters.
Marketing matters.
Public relations matters.
Internal Investigations.
If an ethics problem is suspected, the safest course of action is to be proactive and initiate an internal investigation led by a qualified independent outsider, such as an Ethics Consultant.
The Ethics Consultant will review the suspected ethics problem that has resulted and determine the following:
- If the suspected situation is indeed an ethics problem that warrants further scrutiny.
- What needs to occur to immediately stop the present ethics problem?
- The monetary or other damages that have resulted from the ethics problem?
- Why the present organizational structural allowed the ethics problem to occur?
- Who was responsible for preventing the ethics problem, and why did they fail to detect and act to avoid the problem?
- What changes need to take place in the organizational structure, policies and procedures, and other areas in order to insure that a similar ethics problem does not reoccur?
- What training needs to occur to avoid a reoccurence of the ethics problem?
- What means should be instituted to insure that future ethics problems do not occur?
Using an ethics consultant is good business. It is extremely cost effective, and is clear evidence to the world that you have considered and addressed all of the foreseeable potential ethical problems that your business might encounter.
This article was written by Don Coker.
Mr. Coker serves clients worldwide from his office in the metro Atlanta, Georgia USA area. He can be contacted at (770) 852-2286.
Copyright 2005-2008 by Don Coker
Professional Background Summary
Presently serve as an independent consultant offering consulting, research, and expert witness consulting services worldwide. Consulting assignments have involved disputed matters as large as $20.8 billion and have included matters in 44 states and 18 foreign countries. Expert witness experience includes assisting both plaintiff and defense counsel.
Prior employment positions include 20+ years' experience in management at banks, savings & loans, credit companies, mortgage banking companies, and a governmental financial institution regulatory agency. Positions held include Board of Directors member, Executive Vice President, Senior Vice President, Manager of Lending, Manager of Mortgage Banking, Regulatory Supervisory Agent (tantamount to CEO). Committee memberships included Loan Committee, Executive Committee, Audit Committee, and Pension Plan Trustee. Served as a corporate officer of various financial institution subsidiaries.
Management responsibilities have included as many as 300 people in 22 locations nationwide in ten states and $1 billion in gross assets. Directly responsible for originating over 36,000 loans of all types totaling approximately $5 billion, and reviewing well over 100,000 financial statements and credit reports, and well over 25,000 real estate appraisals.
Called on by banking regulators several times to provide regulatory oversight at troubled financial institutions.
Representative Client List
Banking:
The World Bank
Citigroup/CitiFinancial
Bank of America
Bank of America - Canada
NationsBank
Bank One
Wachovia/First Union Bank
Firstar/U.S. Bancorp
SouthTrust Bank
Washington Mutual Bank
Credit Suisse First Boston Mortgage Capital, LLC
Bank of Oklahoma
Sunbelt Savings
Sunbelt Federal Bank
PanAmerican Bank
Bluebonnet Savings
Standard Pacific Savings Bank
First National Bank of Brewton
Southeast Bank of Miami, FL
Barnett Banks, Inc.
Bank of the Southwest
Priority Bancorp
KeyCorp
Southern Security Bank
Tanzania Institute of Bankers
Bank of Tanzania (central bank)
Goldome Realty Credit Corp.
Western Gulf Savings & Loan
American Savings & Loan
EDS - BEI Golembe (Banking) Consultants
Governmental:
FDIC
Resolution Trust Corp.
Federal Reserve Bank of Atlanta
Federal Savings & Loan Insurance Corp.
Federal Home Loan Mortgage Corp.
U.S. Department of Education, Inspector General's Office
Farm Credit Bank
State of Texas, Savings & Loan Department (Regulators)
Internal Revenue Service, U.S. Treasury Department
Ten Municipalities in CA and CO
Tanzania Revenue Authority (tantamount to IRS)
United Nations Conference on Trade & Development
U.S. Agency for International Development
U.S. Air Force, Judge Advocate General, Guantanamo Bay, Cuba
New York Governor's (Pataki) Office of Regulatory Reform
Insurance:
AIG
CNA
State Farm
St. Paul Travelers
Lloyds of London, UK
Liberty Mutual Insurance Co.
Acadia Insurance Co.
Military Premium Managers
Reliance Insurance Company
International Transport Intermediaries Club, Ltd., UK
North River Insurance Co.
American Casualty Insurance Co.
National Union Fire Insurance Co.
Continental Casualty Insurance Co.
Crum & Forster Managers
Xerox Financial Services
Thomas Miller & Company, UK
Corporate:
Cisco Systems
Ford Credit
IBM - Lotus Development
Kawasaki
Doral Mortgage Corp.
Ambassador Mortgage
International Accounting Standards Board
Ukrainian Accounting Reform Project
Chemonics International
Network Software Associates
Prentice Hall Publishing
NBI Software
NAPA Auto Parts
Darryl's Restaurants
Sears
Heritage Motels. Inc.
Barron's Educational Software
Calco Aerospace
Ruby Tuesday
Remington Investments
Alpha Software
Phivos Karnaos (London & Moscow)
Jancik Concrete Specialties
Keytronics
George B. Kaiser, Forbes 400 List
Concord Boat Corp.
Houlihan's Restaurants
ButtonWare Software (PC Calc+)
Fillette Green Shipping
Zapadnoe Koltze (Russia)
Benchmarking Partners
Gary Tharaldson, Forbes 400 List
Simon & Schuster Publishing
Morrison's Cafeterias
Broderbund Software
Computer Associates
TimeWorks Software
WordStar
Cliff's Notes Publishing
Christian Bay Shipping Company
DataEase International
AddStor Software
Kilimanjaro International
Boston Credit Corp.
Books, Publications & News Media
Complete Guide to Income Property Financing & Loan Packaging, Prentice Hall, 1984.
Self-Management: A Guide to Career Advancement and Development, written under contract for Prentice Hall, 1985.
Complete Real Estate Computer Workbook, Technical Editor, Prentice Hall, 1986.
The Complete Loan Officer's Handbook, presently writing.
"Money Laundering: A Dirty Business," White-Collar Crime Reporter, Oct. 1991.
Treasury Magazine published by The Economist. Interviewed and quoted in an article written by a U.S. News and World Report Editor.
"How You Can Help Your Client Get a Loan to Finance Real Estate Projects," Practicing Attorney's Newsletter, April 1984.
"Getting a Grip on Core Deposit Intangibles," American Banker newspaper, 1996.
"The Dollars and Sense of Business Valuation," published on the website of the American Bank Attorneys Association, April 1996.
"Putting a Cash Value on a Business," interviewed by Lawyers Weekly, May 6, 1996.
"Business Valuation Techniques," Business Locator, May 1996.
"Valuing Businesses," TAB Letter, Technical Assistance Bureau, June 1996.
"Using Business Value to Achieve Ad Valorem Tax Reductions on Commercial Real Estate Properties," Journal of Property Management, June 1997.
What's Working in Credit & Collection, interviewed, quoted re: bank drafts, March 1997.
"Making Sense of Internet Stock Values," TAB Letter, July 1999.
Africa Today, extensive video coverage by Reuters News Agency of Tanzania Revenue Authority training program, Arusha, Tanzania, March 11, 2001 and other dates.
Interviewed by ITV Television Network on the subjects of banking, taxation, economic growth and development, and capitalism in Tanzania, in Arusha, Tanzania, March 16, 2001. Aired on March 17, 2001, and subsequent dates.
The Atlanta Journal-Constitution, interviewed for an article on banking regulatory policies and procedures, and banking practices, August 21, 2001.
The Atlanta Journal-Constitution, interviewed for an article on banking practices and procedures to help deter terrorism, September 19, 2001.
The Atlanta Journal-Constitution, interviewed for an article on banking practices and procedures involving funds transfers and money laundering by terrorist groups. September 21, 2001.
The Baltimore Sun, interviewed for an article regarding considerations for the future of Allied Irish Banks, PLC's, American subsidiary Allfirst Bank. May 30, 2002.
The Atlanta Journal-Constitution, interviewed for an article on changes in banking practices and procedures as a result of the September 11, 2001, terrorist attacks. August 29, 2002.
Patent
On July 8, 2002, the United States Patent & Trademark Office registered a Provisional Patent to Don Coker for a business process for improving the prevention and detection of financial fraud involving personal and business checks, cashier's checks, postal and commercial money orders, letters of credit, bills of exchange, drafts, and many other types of financial instruments. The formal Patent Application was filed July 1, 2003. This Patent was sold in early 2007.
Keywords to Help Locate this Website:
Best Practices
Business Ethics
Compliance
Corporate Investigation
Corporate Wrongdoing
Ethics
Ethics Compliance
Ethics Investigation
Financial Ethics
Financial Investigation
Financial Scandal
Internal Investigation
Internal Probe
Investigation
Previous Websites Included for Reference Purposes:
http://firms.findlaw.com/Bankexpert/
http://firms.findlaw.com/CheckFraud/
http://firms.findlaw.com/BusinessValuation/
http://firms.findlaw.com/BusinessPlans/
http://home.talkcity.com/PresidioDr/bankexpert/DonCoker.html
Entire website Copyright by Don Coker 2005 - 2008
Don Coker, Banking Ethics, Business Ethics & Financial Ethics Consultant.
Education:
College and University:
University of Alabama, BA.
University of Alabama, post-graduate work.
University of Houston, post-graduate work.
Spring Hill College, AL, masters degree-level liberal arts and ethics coursework.
Southern Methodist University, TX, executive education work.
Harvard Business School, MA.
Certificate in Business Valuation.
Professional Education:
American Bankers Association - American Institute of Banking: financial statement analysis, business finance, bank investments, principles of bank operations, bank management, trusts.
National Institute of Real Estate Boards, commercial real estate finance.
International Council of Shopping Centers, shopping center finance.
National Hospital Association, one-week workshop in healthcare entity finance and valuation.
Mortgage Bankers Association, workshops in multi-family and SFR lending.
Federal Home Loan Bank of Dallas, training workshops on financial institution management, lending, investments, operations, et. al.
Texas Savings & Loan Department, training workshops on financial institution management, lending, investments, operations, et. al.
Federal Home Loan Mortgage Corp., real estate financing workshop.
First National Bank of Mobile, AL (later AmSouth, now Regions Financial), financial statement analysis, business finance, bank investments, credit card operations, deposit operations, bank management, trusts.
Gibraltar Savings Association (now Bank of America), commercial real estate finance, valuation, joint-ventures.
Citicorp, business, corporate, and real estate finance, valuation, deposit products, investments.
Southwest Bancshares (later Bank One, now JPMorgan Chase Bank), business finance and real estate investments.
Commercial Credit Corp. (now Citigroup), one-week Corporate Marketing Conference covering in-depth training in all financial products, plus 28 CDC Learning Center courses (45 semester hours) in business and economic subjects.
Frost Bank, advanced credit analysis and business finance.
Other Professional Activities
Consultant on various economic, valuation, real estate, marketing, and banking matters for clients in 45 states and 20 foreign countries in the Americas, Europe, Asia, and Africa.
Expert Witness, for plaintiff and defense, listed in both the American Association for Justice's and the Defense Research Institute's databases of recommended consultants, plus state and local databases in AR, CO, DC, HI, IL, IA, KY, LA, MN, MS, NH, NY, NC, OH, PA, SD, WA, and San Francisco.
Phillips College, former Adjunct Professor of Business.
Institute of Financial Education, approved instructor for the educational arm of the U.S. League of Savings Institutions.
Prentice Hall Publishing, Simon & Schuster, Paramount Communications, technical editor and consultant on banking and real estate subjects.
Holiday Inn, Lender Advisory Panel.
Rodeway Inn, Lender Advisory Panel.
Novick's Money Market Seminars, panelist.
National Directory of Corporate Distress Specialists, approved management consultant.
Licensed Sports Agent, approved by the NCAA, Major League Baseball Players Association, and the AL Athlete Agents Regulatory Commission.
American Arbitration Association, approved Professional Commercial Arbitrator.
State of Texas Real Estate Commission, approved instructor and writer of courses.
Texas Real Estate Broker's License held for over ten years.
Past Professional Memberships
American Bankers Association
American Institute of Banking, Chapter Officer and Bank Consul
U.S. League of Savings Institutions
Institute of Financial Education, Instructor
Mortgage Bankers Association
Texas Mortgage Bankers Association
American Council of State Savings Supervisors
American Bankruptcy Institute - Committee assignments: Public Companies, Real Estate, International, U.C.C., Commercial Fraud Taskforce, Real Estate, Healthcare.
Board of Realtors
National Association of Homebuilders
International Council of Shopping Centers
Houston (TX) Chamber of Commerce, Economic Development Committee, 9 years
Civic Activities
Katy School District (Houston suburb), Trustee, elective position.
U.S. Army Reserve, 1966-1968, Officer Training, Ft. Bragg, NC; Honorable Discharge.
Nottingham Country Civic Club, officer, 1,500 family neighborhood association.
Sunday School teacher, usher, host.
Recognition in Biographical Reference Books
Who's Who in America, 52nd - 56th eds.
Who's Who in the World, 12th - 16th eds.
Who's Who in Finance & Industry, 26th - 29th, 33rd eds.
Who's Who in Medicine & Healthcare, 1st - 4th eds.
Who's Who in the South & Southwest, 21st - 29th eds.
Directory of Distinguished Americans, 5th ed.
Who's Who Registry of Global Business Leaders, 1993 - 1994 ed.
Who's Who of Emerging Leaders of America, 3rd ed.
Who's Who Registry of Business Leaders, 1994 ed.
Personalities of America, 5th ed.
Personalities of the South, 14th ed.
Employment History
1986 - Present: Economic and Banking Consultant, Don Coker Consulting, Atlanta, GA. Consulting and Expert Witness engagements covering all areas of banking, valuation, economics, real estate, international, management, finance, and business. Also interim management and governmental financial institution regulatory work.
1985 - 1986: Executive Vice President, Manager of Lending & Board of Directors Member, Home Savings (now Citigroup), Houston, TX. Manager of all lending and mortgage banking. Number Two Executive. Heavily involved in investments and deposit activities. Officer of several subsidiary companies. Member of Loan Committee, Executive Committee, Audit Committee, et. al.
1984 - 1985: Senior Vice President, Manager of Lending, First Federal Savings (now Guaranty Bank), San Antonio, TX. Manager of all lending and mortgage banking. Number Two Executive. Heavily involved in investments and deposit activities.
1983 - 1984: Southwest Regional Manager, Ford Motor Credit Corp., Houston, TX. Manager of commercial real estate finance, and some financing with dealers.
1977 - 1983: Regional Manager, Commercial Credit Company (now Citigroup), Houston, TX. Manager of commercial and residential real estate financing for the southwest, and involved in all financial products offered by the $7 billion company.
1974 - 1977: Manager of Commercial Real Estate Lending and Mortgage Banking, Southwest Bancshares (later Bank One, now JPMorgan Chase Bank), Houston, TX. Also involved in the origination and administration of construction loans, deposit and investment activities for lending clients including wealthy foreign nationals, corporate and personal lending, and credit card operations.
1973 - 1974: Assistant Regional Manager and Assistant Treasurer (corporate officer), Citicorp Real Estate, Houston, TX. Mortgage banking and construction lending for Citibank, N.A. (NY), and deposit and investment activities for wealthy foreign clients.
1972 - 1973: Loan Officer and Manager of Lending Department, Gibraltar Savings (now Bank of America), Houston, TX. At age 26, managed the day-to-day operations of Texas' largest S&L (55th largest in the U.S.). Handled construction and subdivision development loans, joint-ventures, and high-volume builder accounts.
1968 - 1972: First National Bank of Mobile (later AmSouth, now Regions Financial), Mobile, AL. Mortgage and real estate specialist in the Trust Department. Trained and worked in all areas of the bank including checking and savings, credit, corporate lending, personal lending, international, investments, trust and estate management, corporate pension plan management, portfolio management, stock transfer, corporate bond trustee, credit cards, and funds transfers.