Elaine Wood is a managing director focusing on regulatory consulting, risk assessment, technology, and investigations. She is a former federal prosecutor and a certified compliance and ethics professional with over 20 years’ experience conducting international investigations and consulting on internal controls and procedures. Elaine is expert at managing complex regulatory requirements and mitigating risk. She works on the implementation of compliance policies and procedures and best practices. Elaine specializes in emerging technology solutions in security, risk management and data governance. She works with financial institutions, insurance companies, private equity funds, other multi-national companies and government agencies. She advises on anti-money laundering (AML) and anti-bribery and corruption (ABC) programs, FCPA and UK Bribery Act issues, compliance, corporate governance, enterprise risk management and gap analysis.

Prior to joining Duff & Phelps, Elaine was a managing director for 15 years at Kroll and more recently, at Alvarez & Marsal, where she oversaw high-profile fraud investigations and helped implement compliance protocols. She uncovered widespread corruption orchestrated by the COO of a major corporation, enabling the company to sue and recover significant damages. She conducted a successful undercover investigation for Madison Square Garden, exposing a scheme to divert season subscriptions to illegal ticket brokers, and she helped devise business controls to prevent future fraud. She also developed source information for CNN to help refute reports that nerve gas was used in Vietnam in violation of the Geneva Convention. Elaine served as a monitor in the waste carting industry in New York for five years, and she designed an international monitoring protocol to eliminate child labor abuse in the sporting goods industry.

Prior to Kroll, Elaine served for six years as an Assistant U.S. Attorney for the Southern District of New York, where she led fraud and civil racketeering cases, successfully instituting a court-appointed monitor for the Restaurant Workers Union in New York City.

She began her legal career as an associate at Cravath, Swaine & Moore.

Education

Elaine earned a B.A. degree from Cornell University and a J.D. degree from Columbia Law School.

Representative Engagements

Compliance Review

  • Performed a compliance review and maturity assessment for an insurance company with a 30 person team reporting to the Chief Risk and Compliance Officer. Assisted in establishing a new protocol to prioritize risk categories and a process to implement new control measures.

Enterprise Risk Management

  • Developed a risk framework across the enterprise of a health insurance company serving over 3 million members. Instituted robust risk inputs and tracking mechanisms, with streamlined reporting and greater accountability. Identified risk mitigation strategies to improve capital preservation and increase financial confidence, while meeting regulatory compliance requirements.

Financial Fraud

  • Hired by a money management firm to investigate the embezzlement of $13 million in client funds. Recovered assets and designed new controls to prevent further theft. Cooperated and worked with the U.S. Attorney’s Office to obtain a conviction against the responsible employee.

Money Laundering

  • Investigated the origins of investment funds coming from South American sources. Established a basis to distinguish legitimate account holders. Developed a protocol designed to raise alerts on accounts based on a system of risk assessment measurements.

Background Investigations and Due Diligence

  • Provided in-depth background due diligence on senior management and outside directors for a Fortune 500 company. Established a company-wide employee screening program scaled to respond to different levels of reputational, managerial and financial risk.

SEC Investigation

  • Hired to investigate SEC allegations that a financial institution and its outside auditor sold products to clients in breach of the duty of auditor independence. Assembled a team of forensic accountants and former IRS agents to investigate and interview bank personnel. Collected relevant physical evidence and electronic data. Produced findings that resulted in no further SEC action against the bank.

Corruption

  • Hired by a U.S. company to investigate a vendor kickback scheme organized by the manager of a major manufacturing plant in India. Established proof of fraud and recovered diverted products and stolen property. The manager of the plant was replaced and new inventory controls instituted. Reviewed and vetted all vendor relationships for the facility.

Asset Recovery

  • Hired to provide intelligence and recover assets in a $200 million divorce case with parties located in Europe, Africa and the United States. Identified millions of dollars in secreted monies. Developed discreet sources to establish contributions to the marriage, which proved pivotal in settlement negotiations.

Counterfeit Goods

  • Uncovered a senior executive at New York headquarters operating a counterfeit supply chain out of the client’s manufacturing facility in China. Helped institute new procedures and internal controls.
Organizations
  • Chair of the Board of Legal Momentum, the Women’s Defense & Education Fund. Founded in 1970, Legal Momentum is dedicated to advance the rights of all women and girls.
  • Member of the Women’s Forum of New York, a network of leaders in the professions, arts and business.
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