Before joining Promontory, he spent nearly two decades as a supervisor and economist at the Federal Reserve Bank of Chicago. He founded and led the Chicago Fed’s wholesale credit risk center, a national initiative that promotes analytics-driven supervision of large banks’ wholesale credit portfolios and contributes to the capital-plan assessments the Federal Reserve conducts in its Comprehensive Capital Analysis and Review.
His past policy work includes serving as a senior economist for the Chicago Fed’s financial markets group. In this role, he was responsible for improving and maintaining institutional expertise on derivatives markets and participated in an interagency review of proposals for central clearing of credit-default swaps.
Working with representatives of the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp., Paul earlier served as a member of the interagency working group that developed supervisory expectations for U.S. implementation of the advanced internal ratings-based approach recommended in the Basel II agreement. He began his career at the Chicago Fed as an economist focused on community development and consumer affairs. After graduate school, Paul taught economics for seven years as an assistant professor at Wake Forest University.