Derrick Hong
Principal
Derrick Hong is a Principal in CNM’s Orange County office with over 20 years of experience in internal/external audit and risk management. His primary experience is in working with community and regional financial institutions to implement highly effective audit and risk management processes, and support bank-wide initiatives to address regulatory requirements and corrective actions.
Prior to joining CNM, he most recently served as Chief Audit Executive (CAE) at two regional banks that crossed over $10 billion in assets (Pacific Premier Bank and Citizens Business Bank). In these positions, he led the internal audit function and implemented enhanced audit requirements to meet SR 13-1 (Supplemental Policy Statement on the Internal Audit Function and Its Outsourcing) regulatory requirements. His experience includes developing a risk-based audit plan, designing and executing SOX 404 risk assessments and testing programs, and leading independent evaluations of bank operations, risk management, regulatory compliance, information technology/security processes and systems. In addition, he has extensive experience working with various bank regulators (OCC, Federal Reserve, FDIC, and California DFPI) to address regulatory concerns and expectations for the internal audit function, and to independently verify remediation of bank-wide corrective actions. Before CAE roles, he served as Senior Audit Manager at First American Financial, Audit Supervisor at City National Bank, Finance/Accounting Manager at Taco Bell Corporation, and Senior at Arthur Andersen LLP.
Education, Certifications and Associations
- University of California, Los Angeles (UCLA – Bachelor of Arts, Economics
- Certified Public Accountant – California
- Certified Fraud Examiner
- Certified Fiduciary & Investment Risk Specialist
Industry Specialty
- Financial Services – Banking & Insurance