Lars Toomre leads the BRC FinTech Corporation ("BRCF") team from Florida. He has had many pratfalls (and a "wee bit" of experience) as a "geek" focused on uniquely adding value to financial firms and their business units. Lars organizes and helps teams to optimize Economic Value Added ("EVA"). He serves as a thought leader and trusted advisor for issues that involve ontologies (think "semantic" meaning of data objects), valuations, analytics, risk, technology, and financial data.
At major financial firms including Lehman Brothers, MetLife, UBS, Citigroup and Munich Re, Lars focused on assessing, modeling, analyzing, pricing, underwriting, transacting in, and managing risk, often involving new and/or challenging financial risks, like Collateralized Mortgage Obligations ("CMOs"), weather condition derivatives, and risk securitization.
In his senior roles (head of business levels) at those major institutions, Lars gained the crucial experience needed to manage books of risk on both assets and liabilities sides of institutional balance sheets, and to manage the liquidity and other complex risks of such arcane instruments. In particular, Lars is proud of his role in creating the first "cutting and dicing" of MBS pass-throughs ("Investors GNMA Trust 1983-1") and going on to run the CMO/ABS Trading Desk at Lehman Brothers for much of the 1980s.
Lars' specific areas of expertise include digital transformation, ontologies, computational finance, complex financial engineering models, algorithmic regulation, machine learning models, mortgage-backed securities ("MBS"), asset-backed securities ("ABS"), reinsurance, risk securitization, insurance-linked securities ("ILS"), and other complex transactions, including transformations between securitizations, multi-class securities, derivatives and/or contracts of insurance.
Lars’s more recent focus has keenly targeted the 2008 "Great Recession" meltdown and how to prevent mortgage risk from again threatening the livelihoods of so many on Main Street. Since 2013, Lars has worked closely with the Object Management Group ("OMG") to create software standards and ontologies, particularly in FinTech, and RegTech sectors.
Software standards are a big win for enabling digital transformation, reducing complexity (through a common understanding of meaning and knowledge), creating "Algorithmic Regulation" with Big Data, Machine Learning ("ML") and/or Artificial Intelligence ("AI") models, increasing financial transparency, reducing financial complexity, and generally reducing systemic risk overall.
Lars is yet another of the Brass Rats -- a third-generation, engineering graduate/geek. He (like his maternal grandfather and father, who is a now retired MIT mathematics professor) graduated from Massachusetts Institute of Technology ("MIT") with a Bachelor of Science in Mechanical Engineering ("BSME") and a minor in Economics. Lars reads much, cooks often as a "foodie", is a great fan of walking 10,000 steps each day, and enjoys dabbling with model railroads as precious spare time permits.