Software Test Luminary Award Nominee: Dave Rabinek
Dave Rabinek is a Risk Management Executive with more than thirty years of management experience, well known for directing the delivery of Mission Critical Technology platforms to drive Core Business Decisions and enable effective Enterprise Risk Management for many of the world’s largest Financial Services firms — including top Hedge Funds, International Credit Card Issuers, and Mortgage Market Enterprises. A well-respected member of the software engineering community, Dave has managed, trained, mentored, and coached numerous professionals in the field. He frequently speaks at workshops on software testing and applied risk management. Dave continues to consult to large financial services firms on testing, risk management, project management and business process engineering.
Early in his career, Dave discovered his passion for applied risk management and testing at Booz Allen. There he practiced, what were subsequently identified as context-driven testing techniques, in a highly-structured government technology client sector.
Throughout his career he has lead the resolution of business critical and intellectually challenging problems at the intersection of financial risk management, software quality methodology, and business process re-engineering, primarily through deep understanding of context and carefully fitting practices.
Key Career Accomplishments:
- BS in Computer Science at University of Maryland, & MBA Finance at American University.
- Assigned his first testing responsibilities at top consulting firm Booz Allen, working for government clients in DC. Booz required consultants to think and devise solutions, not follow established practices.
- Developed a complex financial portfolio optimization toolbox at mortgage giant Freddie Mac which provided a unique platform for addressing key problems: risk/return tradeoffs in funding its massive mortgage portfolio, and tradeoffs between its credit risk and interest rate risks business.
- Partnered with George Danzig of Stanford, the father of optimization, to integrate dynamic rebalancing.
- At Freddie Mac, Lead the development to pioneer a new accounting standard — Mark-to-Market Balance Sheet – partnering with the FASB (Financial Accounting Standards Board).
- Fannie Mae was the first US firm to publish and Dave was instrumental in garnering a separate audit opinion from Arthur Anderson on its integrity.
- At Fannie Mae, established and operated a fully-automated framework of keyword-driven testing of key state-of-the-art proprietary risk applications – Stochastic Income Modelling and Portfolio Valuation, used to manage its $700billion mortgage debt and derivative portfolio.
- At Fannie Mae, introduced an agile life-cycle methodology of iteratively delivering prototypes, as a means of gathering usability requirements from traders and risk managers – this is a highly structured shop that strictly followed waterfall methodologies.
- Amidst the backdrop of the massive Mortgage Crisis of 2008, as Chief-of-Staff of a 200-person Research Division:
- established a fully automated risk model testing platform, for 175 complex models which operated throughout the enterprise to manage and price risk,
- significantly improved the operational effectiveness of the division by identifying Model Development Life Cycle (which had numerous test, review and QA components) to capture and facilitate management of the research and development process
- The test automation framework won the International Institute for Software Testing (IIST) Best Practices national award for 2007.
- Amidst the backdrop of Fannie Mae taken into Government Conservatorship, and the associated extremely highly regulated working environment:
- Dave established a regulator-compliant Model Risk Validation Process which provided transparency into a key enterprise risk and assured regulators and overseers that model risk was measured and managed
- Dave led the successful efforts to validate independently-generated estimates of Subprime losses (a key driver to the mortgage crisis) that were delivered to US Treasury. The losses were revised down by $100 billion, and matched Fannie Mae’s own internal estimate, greatly assisting in the re-establishment of enterprise risk management credibility.
- Dave managed the development and timely publication of risk pricing report to US Congress, which addressed highly proprietary risk management approaches and strategic decisions.
- As a consultant to American Express, devised a roadmap for Data Warehouse and Business Intelligence restructuring to better serve internal customers and improve quality (eliminate redundancy, improve timely delivery of mission critical internal and external reports).
- As a consultant to several top US banks
- Conducted comprehensive testing of critical Anti-money laundering (AML) risk scoring applications and delivered regulator-compliant assessment and recommendations.
- Developed comprehensive test plans for critical Federal Reserve CCAR Stress Test applications.
- As a consultant to a top hedge fund
- Devised a test plan for dev ops framework which will instantiate a cloud infrastructure for all enterprise applications
- Established effective agile testing practices in the redevelopment of the critical data ingestion infrastructure.
- A founding member of the Software Testing for Financial Services (STiFS) series of workshops.
- Member in good standing of the Association of Software Testing (AST) and the Software Process Improvement Network (SPIN).
Posted August 20, 2015 in: Event by Rick Baucom