Experts & Advisors
Jordan Kuperschmid
Senior Managing Director

Jordan Kuperschmid is a Senior Managing Director at Ankura, based in New York. He has over 35 years of experience working in the financial services industry focusing on insurance and reinsurance. He specializes in remediation and transformation bringing experience in operations, risk, and data.
Experience
Jordan’s professional experience includes:
Remediation: Mitigating risk or responding to intentional or unintentional breaks that have customer impacts
- Sales Fraud: Designed analytic models to identify agent perpetrated sales fraud for a global life insurer and a supplemental medical insurer. Identified multiple occurrences of fraudulent activity, documented themes and control gaps, and created communication materials for regulatory bodies. Implemented ongoing monitoring tools and dashboards.
- Premium Calculation Remediation: Across a portfolio of credit insurance policies, incorrect premiums were charged. Remediation included investigation of the impacted parties (affected hundreds of thousands of policyholders), complex calculations of the “should have been” charges, distribution of the difference to affected parties, the establishment of new processes and controls to prevent future issues and communication to insurance regulators across the United States.
- Bond Sales Remediation: FINRA conducted reviews of the suitability of sales of distressed Puerto Rican bonds by multiple broker dealers. Analyzed transactional sales data to identify potential non-compliant sales activities to support negotiations for a broker dealer’s settlement with FINRA.
- Reinsurance Leakage: During the quarterly close a material discrepancy was identified in reinsurance balances for a global specialty insurer. Unwound the financial data quarter-by-quarter for five years and identified multiple breaks relating to manual calculations of reinsurance premiums and claims. Rewound the data set to correct the balances. Designed and implemented interim controls and launched a client team that would select appropriate technology for a permanent solution.
- Claims Quality Remediation: A supplemental health insurer was not achieving the required regulatory quality for claims. Implemented a claims review team to initially review each claim and repair specific issues, as well as improve the ongoing quality processes. Closed the gap to meet/exceed requirements and implemented ongoing monitoring.
- AI Governance Program: Multiple insurers required guidance as the AI regulations evolved. Designed and implemented revised policy, governance, and controls for AI models including fairness testing and external data usage.
Transformation: Accessing and improving controls (operational, compliance, IT, financial); designing and implementing standardized, efficient processes; resourcing and sourcing human capital and the related organizational design; selection and enablement of technology
- Risk and Compliance Operating Model: Led the analysis and roadmap definition for the transformation of the risk and compliance departments of both a major warranty insurer and investment management company. Included roles and responsibilities, control and process efficiencies, technology alignment, and sourcing to achieve business objectives at the desired cost to operate.
- Billing and Remittance Transformation: Reviewed the billing and remittance organization of a large group insurance company to create a more effective organization. Included voice of customer and benchmarking analysis. Designed the roadmap to simplify processes and enable technology.
- Anti-Fraud Organization Review: Reviewed the effectiveness of the Special Investigation Unit for a leading Life and Retirement Services provider. Conducted end-to-end review of governance, processes, roles, technology, and data usage for anti-fraud activities to design the organization’s future state.
- Money Out Process Improvement: Reviewed and improved the processes for loan distribution for a Retirement Services provider identifying $5 million in one-time vendor savings and 25% in operational run-rate savings.
- Acquisition execution: Ran the integration management office and conducted assessment activities for multiple acquisitions for a Fortune 100 Insurance Company. Included stakeholder reporting, cost efficiency opportunity review, technology and data integration, vendor strategy and rationalization, organization, and talent strategy. Acquisitions included life insurance, annuities, and retirement services books of business.
- Financial Operations Improvement: Led efforts across three leading insurers to review the various financial operational processes (financial close, financial reporting, reinsurance accounting) to clarify roles, leverage data, improve controls, and accelerate results.
- Data Governance Program: Assessed the current data landscape and strategy for this life/annuity/investment management insurer and established a roadmap for change for data governance, quality, analytics, retention, and architecture.
- Carveout Standup and Data Conversion: A global insurer separated its U.S. specialty business into a new company. Led the effort to extract the full dataset from the parent and transform, map, load, and validate data into new company platforms for policy, claims, cash, supplier, and financial information. Assessed controls (financial, IT) for the new company as part of the roadmap for IPO.
- Reinsurance Pricing Data: Historical reinsurance data had been summarized resulting in a weaker position to negotiate new treaties. Used rule-based analytics to restore and reconcile 20 years of transactions and built an analytics engine to support pricing negotiations which resulted in over $50 million in economic benefit to this Life Insurer.
- Education
- BS, Economics: Finance and Decision Sciences, The Wharton School, University of Pennsylvania
- Certifications
- Project Management Professional
- Lean Six Sigma