Paul Zikmund, CFE

Chief Resiliency Officer Paul Zikmund, CFE, achieved his dream job protecting real estate company Berkadia from embezzlement and financial statement fraud. He’s investigated Foreign Corrupt Practices Act violations and enjoys reading books related to the anti-fraud profession.

Interview by Anna Brahce

I was born and raised in Pittsburgh, Pennsylvania, and lived there for 30 years. I’m a huge Pittsburgh sports fan and enjoyed many amazing years watching our teams win championships. I was lucky to have a neighborhood full of friends growing up, and we played various sports and board games for hours every week.  

From the early age of 6 I wanted to be a police officer. My friends and family encouraged me to do something else, and when I first started attending the University of Pittsburgh, I pursued an engineering degree. It only took me one semester to realize it wasn’t my passion. I changed my major to criminal justice and never looked back. I loved the idea of pursuing those who commit crimes and harm others. 

My current position as chief resiliency officer is my dream job. At Berkadia, a commercial real estate company headquartered in Ambler, Pennsylvania, I oversee internal audits, enterprise risk management, ethics and compliance, information security, anti-fraud programs and controls, and physical security. My team protects our brand, reputation, and detection and response protocols to minimize risks impacting our business.

My teams have managed a wide variety of frauds throughout my career, including financial statement fraud, bribery and corruption, and embezzlement. I’ve worked on cases involving internal fraud committed by employees against the company and external frauds committed by nonemployees. I also investigate commercial real estate fraud schemes, where borrowers submit fictitious or falsified documents to help secure a loan for commercial property.

When we find suspected fraud, we ensure that all information is kept confidential to protect the integrity of the investigation and privacy of parties involved. We investigate thoroughly and impartially, sometimes consulting internal audit teams or external investigators, and gather evidence and assess the validity of allegations. We record all findings, actions taken and communications related to the investigation.

Next, we develop a plan to address the findings, which may include disciplinary actions, policy changes or legal proceedings. We then implement measures to prevent future occurrences, such as enhanced controls, training and monitoring. We also periodically review and update the protocol to ensure that it remains effective and compliant with legal and regulatory requirements.

Throughout my career I’ve learned there’s always room for additional support during an investigation and not to assume that I’m the smartest person in the room. Continuous learning is paramount to growing and advancing skills.

My favorite cases involved investigating violations of the Foreign Corrupt Practices Act (FCPA). They’re challenging to investigate as they often involve significant efforts to conceal the schemes. There are severe consequences for individuals and companies that pay government officials to secure unfair advantages. A few of my investigations led to prosecutions and declinations by the U.S. Department of Justice not to prosecute a company.

I enjoyed these high-profile cases and the challenges they presented to my teams. I’ve been blessed to work with very skilled investigators, and that’s a significant benefit when investigating complex cases.

Throughout my career I’ve learned there’s always room for additional support during an investigation and not to assume that I’m the smartest person in the room. Continuous learning is paramount to growing and advancing skills. Additionally, fraud examiners shouldn’t be ashamed to admit when they aren’t skilled enough for an investigation or need help from another subject-matter expert. Faking it until you make it doesn’t work as a fraud fighter. 

I first heard of the Association of Certified Fraud Examiners (ACFE) when I left my law enforcement job to begin my career with chemicals company, Union Carbide, in the mid-1990s. I led internal investigations and wanted to enhance my investigative skills. A coworker told me about the Certified Fraud Examiner (CFE) credential, and I purchased the study materials and jumped right into preparing for the exam. 

The CFE credential provided me with a body of knowledge necessary to become a successful fraud examiner and fraud risk management professional. I learned so much while preparing for the CFE Exam that helped me during my career. I also benefitted from networking with other CFEs and met many lawyers and clients who wanted people with this credential to work on their cases. 

My advice to those starting out in the fraud-fighting field is to invest heavily in continuous learning. The CFE credential is an excellent place to start. Additionally, it’s important to learn about internal controls, cybersecurity and human behavior. Interviewing and communication skills are also critical. Fraud fighters must be able to effectively interview people and get them to say things they don’t want others to know; interviews are both an art and a science.

My greatest achievement is being a husband and father. I’ve traveled the world many times, pursued multiple graduate degrees and certifications, spent many weekends and evenings working, and experienced many professional challenges. My family has always been there for me, and I can never repay them for all their love and support. 

I love learning and studying books on cybersecurity, fraud risk management, ethics and compliance, strategic planning, and auditing. I’ve been a professor for 25 years and enjoy speaking at conferences, webinars and company sessions. I also like exercising and walking our huskies with my family. 

Anna Brahce is an assistant editor for Fraud Magazine. Contact her at abrahce@ACFE.com.