What Traits Should a Banking Expert Witness Possess?
The right person for the job must possess the following traits: Honesty, Credibility, Relatability, and Communication Skills, and Industry Knowledge. These characteristics are key for a successful banking expert witness. These qualities are essential whether they are a senior banker or a senior vice president. In addition, if they have a background in the banking industry, this experience will be a huge asset in court.
Honesty
Despite the banking industry’s reputation, honesty is often overlooked as a trait of a banking expert. One example of an honest witness is a business that wanted to delist from the Singapore stock exchange, even though it would breach the terms of three finance arrangements. The executive chairman had signed letters supporting the delisting. Ultimately, the company had to liquidate itself. This case highlights the importance of honesty as a trait of a banking expert witness.
One case involves a lender who denied the claim, citing an inability to repay the loan. In that case, the bank had to appoint a receiver after the borrower’s bankruptcy, but the banking expert had not provided the full picture. Instead, the expert witness was cross-examined, and additional facts were brought up. The banking documents and established factual circumstances indicated that the borrower had little choice but to appoint a receiver. Moreover, the bank’s position would be obvious to someone with reasonable experience in the business world.
Credibility
When selecting a banking expert witness, there are some factors that you should consider. The qualifications of the witness are of paramount importance, as are their credibility. The differences between credibility and competency are important, but the former can be misinterpreted during the examination. Experts with good credentials and track records are more likely to have their opinions accepted at trial. It can also help you narrow down the field of potential banking experts.
A bank expert witness with similar background and training can improve the credibility of their testimony. In addition, their testimony is often valued in cases involving lender liability and predatory lending. Continuous professional development is also a plus. Continuing education, including conferences and seminars, can improve the credibility of a witness. It is especially true if the expert has attained certifications and has undergone continuing education. Their proven educational and professional credentials further enhance the credibility of a witness.
Communication skills
As an expert witness, you will need to have unquestionable credentials and be well-versed in the relevant regulations and financial issues. Ideally, your banking expert witness will have a background in the banking industry and a history of acting as an expert in numerous cases. Communication skills are also important, and a banking expert witness with excellent communication skills will be more credible and stand their ground. A banking expert witness should be able to explain their opinions to the court without hesitation.
While technical skills are vital, good communication skills are equally important. As an expert witness, you need to be able to persuade others, and it is essential to master both. In this course, you’ll learn why good communication skills are so important, and you’ll get to practice some specific techniques and tricks to make your testimony more persuasive. You’ll learn how to use a 6-second size-up, powerful language, metaphors and demonstrative aids, and more. You’ll also learn about verbal and nonverbal communication and how to understand the message between messages.
Relatability
Relatability is another important quality to look for in a banking expert witness. People connect to brands and companies through emotions, and the words they choose can be highly effective. Finally, expert witness advice can help a plaintiff or defendant recover lost money. The bank may be held liable for any mishandled funds, and a banking expert can help recoup some of those funds. The experience and qualifications of a banking expert witness are paramount in the courtroom. The witness’s extensive knowledge of banking practices and regulations is essential for convincing the jury of their credibility. Additionally, they must have impeccable ethics and a solid reputation. A banking expert witness’s testimony will add weight to a case, as their comments must be free from bias. For example, if a witness has years of experience in the industry, they will be more relatable and convincing.
Relatability is another important quality to look for in a banking expert witness. People connect to brands and companies through emotions, and the words they choose can be highly effective. Finally, expert witness advice can help a plaintiff or defendant recover lost money. The bank may be held liable for any mishandled funds, and a banking expert can help recoup some of those funds. Below are some of the most important aspects of an expert witness’s experience.