Essential Qualities to Look for in a Banking Expert Witness

An expert witness provides an impartial testimony to the court. It can help the judge and jurors understand complex and nuanced information more effectively—their expertise and testimony also lend strength to a case. Including an expert witness on your legal team to educate all of the parties involved can shed light on the various aspects of the matter.  Choosing the right expert can go a long way in terms of assisting you in obtaining a favorable outcome for your client.

Here are five essential qualities that a banking expert witness must possess to maximize the chances of success:

Experience

Experience should be at the top of the list when you begin the search for a banking expert witness to ensure you found a strong choice for a testifying role.

They must have unquestionable credentials and in-depth knowledge of the financial and regulatory issues related to your matter.  It will allow them to successfully navigate the intricacies involved in the case.

An ideal banking expert witness will have a background in the banking industry and a history of serving as an expert in many cases.

Confidence

Confidence is another essential trait that a banking expert must possess to come across as credible and trustworthy in front of a judge or jury.

You should not give a court any reason to doubt your expert witness. You need a professional who can hold their ground and remain steady when cross-examined by opposing counsel.

A confident expert witness will be able to articulate their opinion concisely and present themselves as credible and reliable to those listening to their testimony.

Effective Communication

A banking expert witness should have excellent communication skills and familiarity with industry jargon to deliver their point effectively.

More importantly, they must be able to speak without hesitation or reading pre-written notes or records--it adds more weight to their position.

A professional with relevant work experience will be able to understand the technical language and formulate their argument more cohesively. Further, it means more to those listening when an expert can say that they have dealt with very similar situations and have first-hand knowledge and experience in this type of matter.

An inexperienced witness or one that melts under pressure can cause harm by confusing a judge or jury in a way that can lessen the chances of a positive outcome for your client. The ability to find an expert with expertise, relatability, and one who can communicate effectively is important.

Attention to Detail

In complex banking transactions, the smallest details matter. Whether it’s a complex mortgage loan underwriting matter in New York or providing an opinion on a predatory mortgage loan in Chicago, experts must exercise close attention to detail.

Often, attention to detail can influence the outcome of the case and prove to be the difference between a successful or failed outcome.

Therefore, you must look for someone with years of experience in your matter, whether it be commercial lending, mortgage lending, lender liability, bank operations, or cash management. If you are dealing with a real estate related matter, if they understand the real estate industry, that is even better.

Reputation and trustworthiness

Last but certainly not least, you must ensure that your banking expert witness has unquestionable ethics and a solid reputation.

They should be able to provide objective opinions and refrain from making any favorable comments that may undermine the credibility of their statement. An expert witness is there to educate the parties involved and not as an advocate for their client.
They should uphold high moral standards and display integrity. Moreover, they must be well-groomed and professionally dressed for the court and must be able to speak with confidence.

If you’re looking for expert witness consulting services in New York, get in touch with Jason Koontz. With 20+ years of experience in the banking and financial sector, Jason brings both knowledge and a strong sense of duty to the court as a consultant and banking expert witness. To find out more details, call (646) 397 – 3835 or send an email at jasonkoontz1@gmail.com.

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Disclaimer: This blog is for informational and educational purposes only, does not constitute professional advice. I’m not liable or responsible for any damages resulting from or related to your use of this information.