Joseph Prakash brings more than  30 years of experience in the financial services industry and serves as Managing Member of JP CONSULTING, an Investment Advisor that provides regulatory consulting services to the insurance industry.

Before forming JP CONSULTING in 2011, Joseph served the National Association of Insurance Commissioners (NAIC) for eight years. As Manager - SVO Investment Research Unit, Joseph led a team of professionals, who served as investment specialists analyzing the investment portfolios of insurers upon the request of the state insurance department. In addition, his Unit conducted training for insurance regulators on all matters relating to insurer investments.

Prior to joining the NAIC in 2002, Joseph served as Research Manager at Citigroup where he supervised a team of analysts and shared credit responsibility for a $3 billion high-yield securities portfolio. Joseph also worked as a senior bank examiner for the New York State Banking Department (predecessor to NYSDFS) from 1991-1993. As a field examiner, he examined the investment and loan portfolios of several large domestic banks and the branches and agencies of large foreign banks based in New York City. Also, he served on the FRB-administered Shared National Credit Program, which required him to rate the loans and securities underwritten by large financial institutions and check their credit process. 

In addition to holding the Chartered Financial Analyst (CFA) Designation, Joseph’s credentials include an MBA from Southeast Missouri State University, a BSc. from J. Nehru University (New Delhi), Investment Management Workshops at Harvard Business School, a Certified Regulatory and Compliance Professional (CRCP) ® from FINRA® Institute at Wharton Business School and a listing on the Roster of Arbitrators of FINRA® Dispute Resolution.    In 2022, Joseph was named a Paul Harris Fellow by Rotary International.                     

Roderick Carmichael combines his 17 years of credit risk expertise with JP Morgan Chase and legacy financial institutions and his more than 16 years of teaching to create a dynamic and highly relevant curriculum at JP Consulting.

His work experience spans the globe from the Middle East, North Africa, Europe, Latin America, USA and Asia.  He retired from Banking in 2004 as a Managing Director having headed China, Korea and Japan Risk Management.  His expertise is in troubled credit markets having experienced firsthand the Asia and Latin American Debt crises.  He has also been a top credit analyst in legacy First Chicago’s Midwest lending division.  In fact, it was this success combined with his strong international background – Middle Eastern Studies major from Cornell – that propelled him into his global risk management adventure.  His record in terms of avoiding credit loss is unsurpassed having navigated two of the 90’s major credit crises with the bank virtually unscathed in the Emerging Markets and Asia. 

A top MBA graduate from University of Texas, Austin in finance and accounting Roderick brings both strong quantitative and qualitative skills which he combines with a very common sense and big picture approach to risk analysis.  Never one to just sit at his desk, he created a network of contacts in all of his jobs which gave him important market intelligence and access to industry expertise that went well beyond any of his peers in Japan, Korea, China, Latin America, where he was responsible for major portfolios of the bank.

Kaushik Patel has extensive experience with many facets of insurance financial solvency regulation, compliance analyses and reviews of all types of insurance entities and Certified Reinsurers, Qualified Unlicensed Reinsurers and Continuing Care Retirement Communities. Kaushik worked more than 30 years for the Pennsylvania Insurance Department with all of his time at the Financial Analysis Division. Until 2021, Kaushik served as the Chief of the Financial Analysis Division. Kaushik’s experience with Pennsylvania’s insurance industry ranges from the regulation of relatively small single-state insurers to large and complex international groups. 

Kaushik’s regulatory experience includes monitoring, reviewing and analyzing various filings made by regulated insurance entities. In addition, Kaushik is familiar with laws and regulations relating to all of the aforementioned filing requirements as well as the holding company act, audited financial filing requirements, RBC rules, hazardous financial condition standards, investment laws, liquidation laws, minimum capital and surplus requirements. He is familiar with Accreditation requirements, risk-focused analyses, and NAIC’s publications. He was TeamMate Champion for five years and used TeamMate daily for 14 years. He participated in at least nine NAIC Accreditation reviews during his tenure. 

In addition, Kaushik served on several committees at the NAIC such as the Valuation of Securities Task Force, Financial Analysis Working Group, Blanks Working Group, and participated in organizing the Maryland Society of Financial Examiners (SOFE) training sessions.  His credentials include a Professional in Insurance Regulation (PIR) designation (inactive) from the NAIC and BS (1989) with dual majors in Accounting and Finance from Penn State University in Middletown, PA.  Kaushik  provided related training to various PA Insurance Department staff, vendors and SOFE members.