JAMES A. YOAKUM
Executive Consultant - BCCP
Faculty Member & Instructor - BCI
US Tristate Division

PROFESSIONAL HIGHLIGHTS

INDEPENDENT CONSULTANT
Bekker Compliance Consulting Partners, LLC
2009 – Present

Jim is an independent Executive Consultant under contract with Bekker Compliance Consulting Partners, LLC (BCCP). He provides specialized consulting and education/training services, in his areas of expertise described below, to BCCP’s financial services clientele.

The Homeland Security Foundation of America, Inc., 2009-present
Vice President and Board Member, Governance, Risk Management and Compliance

Senior officer responsible for governance, risk management and compliance for all aspects/functions of the organization. The Homeland Security Foundation of America is a non-profit, tax-exempt entity with programs for public safety, energy security and health and human services.

ComplianceQuest Partners, LLC, 2009-present
Consultant

Provides compliance, risk management and related consulting services to financial services and life insurance industries. Specializing in assisting clients to identify and mitigate compliance and ethics risk, and build top quality compliance and ethics programs and processes.

MentorWorks, 2009-present
Business Mentor/Coach

Provides expert advice and consultation on array of issues impacting career development and progression.

Freelance Writer, 2004-present

Authors articles on business and life’s experiences through published articles, poetry and virtual media. Regular contributor to numerous business publications such as LIMRA Regulatory Review. Managing Editor, Awareness Journal of Public Safety.

The Prudential Insurance Company of America, Newark, New Jersey, 1990-2003
Vice President, Risk Management and Operations Control, Retail Division

Served as Vice President of the newly merged function of risk management and compliance for Prudential’s agency system.

  • Reported to the President of the Retail Division.
  • Successfully implemented an operations control infrastructure with placement of risk/operations managers in 160 plus agency offices throughout the U.S.
  • Oversaw an agent hiring, disciplinary and retention program meeting all compliance and regulatory standards.
  • Managed the field office review program (i.e. internal audit) for the agency offices; successfully implemented on-going program to identify and resolve issues in a timely fashion.

    • Chief Compliance and Risk Management Officer, Individual Insurance Group

    With emphasis on cost control of risk management and regulatory compliance, selected to oversee the merger of these functions within Prudential’s individual insurance and annuities businesses.

  • Reported to the Vice Chairman of the Individual Insurance Group.
  • Successfully managed the merger resulting in streamlined yet compliant processes achieved with significantly greater system automation and monitoring.

    • Vice President, Management Internal Control Officer, Individual Insurance Group

    Due to the success of the Tax Program, chosen to build a risk management/internal control function for the individual insurance businesses. This function was needed due to the significant risk Prudential faced with regulators and customers as a result of past actions.

  • This new department with staff of 60 in seven locations successfully built a new culture with a risk mindset employed throughout all business functions and activities.
  • Successfully partnered with Operations and Systems senior management and staff to build and implement internal controls within all Operations & Systems functions.
  • Resolved all outstanding and delinquent internal/regulatory/audit issues and implemented a monitoring program to ensure timely identification and resolution on an ongoing basis.

    • Program Manager, Tax Program, Corporate Operations and Systems

    Selected as program manager for a series of projects to fully automate federal and state tax withholding and reporting on Prudential’s life and annuity products.

  • As a Prudential Board mandated project, reported regularly to the Board on status.
  • Following two prior failures, project was successfully completed ahead of schedule resulting in full compliance with all laws saving $140 million by replacement of manual workarounds with automation and avoidance of potentially significant penalties for noncompliant reporting.

    • Project Manager, Prudential Political Action Committee (PAC)

    Selected by Prudential’s General Counsel to revamp the PAC’s finance, accounting and fundraising efforts.

  • Successful efforts resulted in full and compliant funding and bookkeeping.
  • Oversaw compliance research and implementation of “lobbying” laws in all 50 states for Prudential’s in-house lobbying staff.

    • Assistant General Counsel, Law Department, Tax Section

    Recruited to create and implement a state tax program as Prudential expanded into non-insurance business and activities. Also responsible for the insurance operation’s state premium taxes.

  • Successful implementation reduced state tax liability by $20 million annually.
  • Success resulted in expansion of responsibilities to include management of the federal tax group for all insurance (life, annuities, and property and casualty) operations including managing a staff of seven attorneys.

    • The Mead Corporation, Dayton, Ohio, 1981-1990
    Manager, State and Local Taxes

    Promoted to consolidate all Mead’s state taxes into one centralized function. Included responsibility for all aspects (return preparation, accounting, appeals, legislative, planning and valuation) for income/franchise, sales/use, real estate and personal property taxes.

  • Aggressive planning and return preparation reduced overall taxes by $10 million.
  • Served as project manager overseeing tax incentive program for plant construction projects in Ohio, Michigan, Tennessee and Alabama. At the time, the construction of Mead’s new paper plant in Alabama was the largest capital expansion in Alabama history.
  • Successfully served as the industry representative in formulating, writing and enacting landmark sales tax legislation in Ohio that significantly changed Ohio’s taxation/exemption for equipment used in manufacturing.
  • Expanded Mead’s national presence by participating in numerous tax and business organizations including numerous speaking engagements. Chaired Chamber of Commerce Tax Committees in Tennessee and Ohio.

    • Tax Attorney/Sales Tax Administrator

    Promoted with responsibilities expanded to include all state income/franchise tax appeals and legislation; had overall responsibility for the entire sales/use tax function.

  • Success in numerous appeals including a landmark Texas “penalty” case overturning years of established law.
  • Led successful efforts to enact business favorable packaging material legislation in Missouri, Alabama and Tennessee.

    • Tax Specialist

    First job following graduation from Law School working for a Fortune 100 manufacturing company (paper, forest products and packaging).

  • Learned the “nuts and bolts” of state income and franchise tax return preparation and accounting for operations and multiple companies in all 50 states of the U.S.

    • Ohio Department of Taxation, Legal Division, Columbus, Ohio, 1979-1981
    Legal Intern

    Recruited as the first legal intern for the Ohio Department of Taxation--Legal Division. Worked full time during the summers and part time during Law School. Served as hearing officer processing state tax appeals.

  • Success resulted in the establishment of a legal internship program for the Ohio Department of Taxation.

    • Ohio Board of Tax Appeals, Columbus, Ohio, 1977
    Legal Intern

    Summer employment serving as the project manager for a program to automate the real estate valuation records for Ohio’s eight largest counties.

  • The project was successfully completed within the allotted time frame and within budget in a fiscally constrained environment.
  • This success became the foundation for later automation of all of Ohio’s real estate valuation records.

    • EDUCATION/PROFESSIONAL DESIGNATION/PRESENTATIONS

  • J.D., Capital University Law School, 1981
  • Accounting/Finance, Sinclair Community College, 1985
  • B.A., Ohio State University, 1978