About the Authors
Mr. McDowell spent most of his career with the U.S. Comptroller of the Currency (OCC) where he held several positions involved with directing bank supervisory activities. While at the OCC he also developed bank examination policies and procedures and formulated banking regulations and policies covering money laundering and financial crimes for the National Banking System. Mr. McDowell holds a master’s degree in government and business from Harvard University, Cambridge, Massachusetts, and a B.S. degree in business administration from the University of Florida. Cédric Mousset joined the World Bank in 2005 as a senior financial sector specialist. He took part in Financial Sector Assessment Programs in Asia, the Middle East, and Africa. During those missions, he reviewed the soundness of financial systems and assessed countries’ compliance with Financial Action Task Force (FATF) recommendations and the Basel core principles for effective banking supervision. He also assisted several jurisdictions in Asia, Latin America, and Africa to design and implement anti-money laundering and combating the financing of terrorism (AML/CFT) risk-based supervision through training, technical assistance, and regulatory drafting. In addition, he has been involved in studies on Basel 2 implementation and loan loss provisioning, as well as market discipline. Mr. Mousset was also involved in the review of the effects of the subprime crisis on European banking systems undertaken by the Committee of European Banking supervisors in late 2007. Before joining the World Bank, he worked in the on- and off-site supervision departments of the Banque de France and was directly responsible for the supervision of some of the largest French financial groups. He is a graduate of the Ecole Supérieure de Commerce de Rouen (Business School) and from the Institut d’Etudes Politiques de Paris. Paul Allan Schott is an attorney in private practice in Washington, D.C. He also serves as a consultant to the World Bank. He is a nationally recognized expert in bank regulatory matters, having served as chief counsel of the Office of the Comptroller of the Currency, assistant general counsel at the U.S. Department of the Treasury, and senior attorney at the Federal Reserve Board. He has written books on anti-money laundering and the federal regulation of bank holding companies; published numerous articles; and spoken at many professional seminars. Currently, he works with foreign governments on enhancing anti-money laundering and bank supervisory programs; he works with private clients on AML, bank and holding company powers, capital, and various compliance issues. He also serves as an expert witness for litigation matters involving bank regulatory and supervisory issues. Mr. Schott received his B.A. degree from Kent State University, his J.D. degree from Boston University School of Law, and his LL.M. degree from Georgetown University Law Center.
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