Career is About More Than Numbers and Facts for Credit Suisse VP

As Vice President at Credit Suisse, David Bach, CFE, says that although he's an auditor, his job is about much more than just numbers and facts. It's about the people — both his colleagues and those he examines.

October 2015

ACFE Member Profile
David Bach, CFE
Vice President, Credit Suisse

In his spare time, David Bach, CFE, enjoys volunteering for organizations like the food bank in New York City and Habitat for Humanity, helping to assist with disaster relief efforts in New Jersey and Louisiana. Bach’s desire to work with people is also present in his career — he says the most rewarding aspect of his job is “the people, both my colleagues and those I examine.” In his current position as Vice President at Credit Suisse, Bach says, “When people hear that I’m an auditor, they automatically think I deal mostly with just numbers and facts. But the reality is that much of my time involves talking to people about how they do their job and what they know.”

Where were you born and raised?

I was born in New York City, but I grew up on Long Island and now live there with my wife and children.

 

What is your current role and what does it entail?

I am a vice president in Credit Suisse’s Global Internal Audit Department and am based in the New York office. I conduct in-depth reviews of the bank's internal controls surrounding front-office businesses and supporting operations. My current focus is primarily on conduct risk, financial crime, anti-money laundering and private banking. I look to uncover control weaknesses and risks, and I work with management to identify effective solutions and then report on the results.

 

How did you become passionate about fighting fraud?

Early in my career I was following up on issues from a prior audit at a branch office. I selected a small sample to verify that they were in compliance with the agreed actions. While reviewing the documents requested, it became apparent that one of the officers had approved some inappropriate transactions that benefited him and a client. The investigation eventually resulted in the termination of the employee. Shortly after this investigation I left that company, but the experience piqued my interest.

 

What is one of the biggest lessons you’ve learned since becoming a Certified Fraud Examiner (CFE)?

I’ve only been a CFE for about a year now, but I’m always surprised by the diverse backgrounds and positions of those who carry this credential. Initially I thought that most CFEs would have an accounting or auditing background like me. But I’ve found that many CFEs are police officers, FBI agents, private investigators, are in the military, etc. They each come from different backgrounds but use the core skills of the CFE credential to do their jobs. It’s also been very helpful for me to reach out to other CFEs from different disciplines that might have other perspectives on many of the issues we deal with.

 

How do you stay current on the latest fraud schemes?

Since passing the CFE Exam last year, I’ve been reading everything I can on fraud, including books and business publications. A great help to me was this year’s 26th Annual ACFE Global Fraud Conference in Baltimore, Maryland. The breadth of sessions and the number of topics was amazing. I also had the opportunity to make connections with others who have been addressing these risks for years. This has been a great resource to me as I try to expand my knowledge and understanding of this area.

 

What do you think has contributed to your success?

The key is to be open to new ideas and challenges. Over the past two years I’ve studied for and passed both the exams to become a CFE and a Certified Money Laundering expert. Preparing for these exams instilled discipline and allowed me to increase the depth of my knowledge. It’s provided me with the confidence and industry recognition to take on roles of increasing complexity and responsibilities.

 

Are there any trends (e.g. demographic, social, legal) that concern you?

The greatest concern I see is of the growing risk of cybercrime. This isn’t only a risk to individuals and businesses, but also to national security. At the ACFE Global Fraud Conference, keynote speaker Brian Krebs discussed the growing menace of state-sponsored cybercrime that could be used for espionage, and to threaten our financial systems and key infrastructure. This risk is going to be a big challenge in the years ahead.

 

What do you consider to be the most important values a CFE must embody?

A CFE must have and project integrity, honesty and a desire for the truth. When we start a fraud examination, we run the risk of entering with preconceived notions of what happened or who’s at fault. Therefore, as a CFE, we must always have the integrity to follow the evidence to discover the truth, whatever that truth turns out to be.