Print this page
Wednesday, 22 July 2020 11:22

Vell Recruits Board Member to Covarity's Board

Written by
Rate this item
(0 votes)

Covarity resized

James Lam

Member of the Board of Directors

> Location: Boston, MA to Kitchener-Waterloo, Ontario
> Industry: Saas, Fintech
> Prior experience: President, eRisk | Chief Risk Officer, Fidelity
> Ownership: Venture capital-backed and Private equity-backed
> Diversity

KITCHENER-WATERLOO, ONTARIO--(Marketwire - March 17, 2009) - Covarity Inc., the leading commercial loan portfolio management software provider, today announced the appointment of James Lam to the company's Board of Directors. The appointment, which takes effect April 15, will provide Covarity with added experience and insight to adapt their software to meet the specific needs of US banks that are currently dealing with increasing regulatory and competitive pressures. The Covarity solution is already deployed by major Canadian banks, including Royal Bank of Canada, BMO Bank of Montreal and HSBC Canada, which is a market recognized as having the world's soundest banking system(i). 

Mr. Lam is widely known as a pioneer of enterprise risk management and his work has been profiled as best practice in numerous US bank success stories. He is the author of the bestselling book Enterprise Risk Management: From Incentives to Controls, and has been published extensively, with over 50 articles and book chapters currently to his credit. Mr. Lam has received several distinctive recognitions, including the inaugural Financial Risk Manager of the Year Award from the Global Association of Risk Professionals, recognition as one of the world's top risk consultants by Euromoney, and he was named one of the "100 Most Influential People in Finance" by Treasury & Risk Management magazine.

"I'm very excited to be working with the Covarity Board and management team," said James Lam. "Our partnership represents the opportunity to contribute to a proven risk management solution at a time when it is vital for US banks to focus on getting back to the basics of monitoring overall risk and proactively identifying and managing the most critical risk factors." 

The Covarity solution provides a consistent framework for overall portfolio management, built around precision monitoring of individual commercial loans. Covarity automates the collection and management of key loan documents and the analysis of borrower financial data, bringing consistency, quality assurance and process efficiencies to the loan monitoring process. The Covarity solution enables financial institutions to mitigate risk, enhance reporting for increasing regulatory compliance requirements, improve operational efficiencies, and improve service to commercial customers through real-time, more transparent information sharing and more detailed financial analysis. 

"James brings a wealth of experience and expertise in leading risk management initiatives at US financial institutions," said Rod Foster, President and CEO of Covarity. "His experience complements Covarity's best practices in deploying a tool to help mitigate both credit and operational risk, and provides a foundation on which to build our US go-to-market plan."

About Covarity Inc.

Covarity is the developer of post-origination commercial loan monitoring and analysis solutions for financial institutions looking to measurably improve their overall portfolio health and performance. By automating the process of collecting and analyzing borrower financial data, Covarity enables financial institutions to manage credit risk on a loan-by-loan basis. By providing the insight and control that lenders need to profitably grow their portfolio - while reducing risk and enhancing client service - Covarity enables lenders to enjoy improved competitiveness, reduced costs, and richer client experiences. Covarity's customers include RBC Financial, RBC Bank, Fidelity Bank, BMO Financial, Libro Financial Group, Laurentian Bank and Crestmark Bank. It was acquired by Constellation Software.

Read 212 times Last modified on Thursday, 29 April 2021 09:40
Dora Vell

Managing Partner

Dora Vell is the CEO of Vell Executive Search, a boutique executive search firm in Boston that recruits technology executives and board members for companies ranging from promising tech startups to Fortune 100 companies. Throughout her 22-year career in executive search, she has successfully completed hundreds of assignments, placing board members, CEOs, COOs, CIOs, technology officers, vice presidents and many other C-level executives. Vell’s clients span both private and public companies and her work has included searches in markets large and small across the U.S. and Canada.

Prior to founding Vell Executive Search in 2005, she was a partner at the executive search consulting firm Heidrick & Struggles for seven years. She started in the Technology Practice in the Toronto office, became the firm’s Technology Practice leader for Canada, and then joined the firm’s Boston office.

Before her career in executive search, Vell worked for 11 years at IBM Canada in software-related roles of increasing responsibility. She started as a software engineer, managed a software engineering team of 100, and then led software sales for IBM Canada. She holds seven worldwide software patents. This deep industry understanding has helped Vell Executive Search become a recognized leader in finding senior executive and board talent for software and SaaS companies.

Vell is a recognized industry thought leader who has published several reports on governance and leadership topics. She has been frequently quoted as an expert on executive and board leadership by outlets such as The Wall Street Journal, Forbes, Business Week, Fortune, Agenda Week, MSNBC, Mass High Tech, The OPUS for the World Economic Forum, Boston Business Journal, The Globe & Mail, CIO Magazine, and IEEE. She has been a featured speaker on leadership at numerous conferences and at Columbia University's MBA program.

Vell has been a Fellow of the National Association of Corporate Directors (NACD) and the Boston CEO Roundtable. She has served on the boards of Framingham State University, Entrepreneur's Organization, Goodwill, Mary Centre for Developmentally Handicapped Adults, garage.ca, and RBC Capital Partners.

The trilingual daughter of a diplomat, Vell grew up in Canada, Greece, France, Switzerland and China. Her unique multicultural and international perspective, experiences as a woman in the male-dominated software field, and insights as a dual Canadian and U.S. citizen inform all her work for clients.

Vell received an MBA from the University of Toronto, a master’s in Computer Science from the University of Waterloo, and a bachelor’s in Computer Science from Carleton University.  She has also completed the MIT Entrepreneurial Master’s program.

Areas of Practice:

  • C-Level Technology Executives
  • CEOs, CROs, Heads of Sales, Heads of Marketing, Chief Product Officers
  • Technology Officers: CTOs, CIOs, Heads of Engineering, CISOs, Chief Data Officers
  • Board Directors
  • Diversity Executives and Board Directors
  • Canadian Executives and Board Directors

Publications:

www.vell.com