Mona Touma Elliot has over 20 years of experience as a former officer at the Federal Reserve Board, an Associate General Counsel at Goldman Sachs, and a corporate restructuring and bankruptcy lawyer at the law firm Shearman & Sterling. Mona is an expert in evaluating bank risk management, governance, and recovery and resolution practices in the context of existing regulations and industry custom and practice.
In her 10+ years at the Federal Reserve, Mona held a range of senior roles spanning financial regulatory policy and large and complex bank supervision. As a co-Chair of the Recovery & Resolution Preparedness Program, Mona gained special expertise in understanding the expectations and behavioral norms of regulators and banking executives in BAU and stress, as well as the hallmarks of sound preparation for severe stress or failure of banking institutions.
Areas of focus included forecasting expectations for capital and liquidity needs, intragroup financial resource allocation and prepositioning, inter-affiliate frictions, operational challenges, reporting and escalation processes, as well as supporting firm critical operations such as access to FMUs and CCPs.
She was also a member of the senior governance committee responsible for supervising the eight systemically important banks, including assignment of ratings and enforcement actions. Prior and subsequent to that role, Mona was a senior advisor to several Federal Reserve governors in domestic and international financial regulatory policy and financial system risk evaluation.
In her 10+ years in the private sector, Mona was an associate general counsel at Goldman Sachs, where she was an advisor to the risk management function of the firm on the enforceability of derivatives risk mitigants to counterparty failure and default. Mona began her career at the law firm of Shearman & Sterling, among other things representing corporate debtors, lenders, and strategic buyers in restructuring and bankruptcy matters.
Bank Risk Management
Large and Complex Bank Supervision
Recovery and Resolution Practices
University of Virginia School of Law
BA, English, Art History
Financial Regulatory Strategies
Federal Reserve Board
Vice President, Associate General Counsel
Shearman and Sterling