Title: Assistant Vice President for Business Risk Management
Company: State Street Corporation
Location: Burlington, Massachusetts, United States
Diamanto Vakalfotis, Assistant Vice President for Business Risk Management at State Street Corporation, has been recognized by Marquis Who’s Who Top Executives for dedication, achievements, and leadership in Risk Management.
Ms. Vakalfotis has established herself as a distinguished professional in business risk management, currently serving as an assistant vice president at State Street Corporation. Since joining the American bank holding company, she has demonstrated expertise in reviewing incidents, addressing billing issues and incorrect invoices, ensuring robust controls are in place and conducting thorough root cause analyses. Ms. Vakalfotis’s responsibilities include mitigating risks, verifying and enhancing controls, escalating issues to upper management when necessary and monitoring incidents to ensure they remain within acceptable thresholds.
Among other tasks, Ms. Vakalfotis is involved in presenting all incidents to management teams, sharing existing controls, addressing team needs and overseeing timely completion of tasks. She also ensures clients receive corrected invoices or refunds promptly and follows up on escalated issues to guarantee required remediation is completed. Ms. Vakalfotis’s collaborative approach with the billing team has been instrumental in tracking and advancing progress across multiple projects.
Before her current role, Ms. Vakalfotis served as a quality assurance officer at State Street Corporation from 2017 to 2021. In this capacity, she reviewed compliance issues within the newly established compliance department, which was created to meet evolving regulatory requirements. Ms. Vakalfotis’s work focused on ensuring accurate system entry, proper remediation of identified issues and transitioning into the risk management team, where she further honed her skills in risk assessment and control oversight.
Between 2013 and 2017, Ms. Vakalfotis was a senior internal auditor at Wolf & Company, P.C., where she was an integral part of the internal audit group. This position required extensive travel as she conducted audits primarily for banks, focusing on service organization control reporting and stock testing. Ms. Vakalfotis was responsible for trust audits and played a key role in evaluating internal controls for financial institutions.
Ms. Vakalfotis’s professional journey began at Kelmar Associates, LLC, where she worked from 2007 to 2013 as a senior audit associate. During her tenure with the firm specializing in unclaimed property, she reviewed companies to ensure no funds were owed to their customers or clients. This foundational experience provided Ms. Vakalfotis with a comprehensive understanding of audit processes and regulatory compliance.
Ms. Vakalfotis’s academic background has been instrumental in shaping her career trajectory. She completed a five-year program at Bentley University in Waltham, Massachusetts, earning both a bachelor’s degree in accounting information systems in 2008 and a Master of Business Administration in accounting in 2009. The comprehensive education Ms. Vakalfotis received on campus equipped her with analytical skills and technical knowledge that have proven invaluable throughout her professional journey. Additionally, she received credentials as a certified fraud examiner and a fiduciary investment risk specialist designation.
Beyond her professional pursuits, Ms. Vakalfotis is actively involved in civic organizations and community initiatives. She has served as the treasurer, co-president and fundraiser for the Parent Teacher Organization. She has also volunteered as a fundraiser and chairperson for the Greek Festival and GyroFest, contributed as a volunteer and chairperson for local church activities, and participated as a volunteer with Adopt-A-Class programs.
Throughout her career, Ms. Vakalfotis has achieved significant milestones that underscore her commitment to professional excellence. She is recognized for her expertise in billing issues, issue review, control implementation, root cause analysis, risk management strategies and control enhancement. Among Ms. Vakalfotis’s most notable accomplishments was earning the certified fraud examiner certification, a testament to her long-standing interest in fraud prevention and detection. Although not applied daily, this knowledge serves as an important reference point when reviewing documentation or addressing potential fraudulent activity in billing processes.
Ms. Vakalfotis’s success is rooted in a strong foundation developed during her formative years working alongside her father at his pizza restaurant. There, she learned the value of hard work, resourcefulness and perseverance, qualities that continue to drive her achievements today.
Looking ahead, Ms. Vakalfotis intends to more actively leverage her expertise in fraud prevention to support her organization and protect others from emerging threats. Her goal remains centered on enhancing operational efficiency while preventing potential risks or fraudulent activity within any future capacity she may hold at State Street Corporation or beyond.
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