Robert K. Herdman is a Managing Director of Kalorama Partners LLC, a Washington, D.C. consulting firm.  He is a member of the Boards of Directors and chairs the Audit and Risk Committees of HSBC Finance Corporation (formerly Household International, Inc.), HSBC USA Inc., HSBC Bank USA, N.A., and HSBC North America Holdings Inc.  He is also a member of the Board of Directors and chairs the Audit Committee of Cummins, Inc., where he also is a member of the Compensation and Finance Committees.  In addition, Bob is a member of the Board of Directors and chairs the Audit Committee of WPX Energy, Inc. 

Bob was the Chief Accountant of the U.S. Securities and Exchange Commission from October 2001 to November 2002.  The Chief Accountant serves as the principal advisor to the Commission on accounting and auditing matters, and is responsible for formulating and administering the accounting program and policies of the Commission. 

Prior to joining the SEC, Bob was Ernst & Young’s Vice Chairman of Professional Practice for its Assurance and Advisory Business Services (AABS) practice in the Americas and the Global Director of AABS Professional Practice for Ernst & Young International.  He was the senior E&Y partner responsible for the firm’s relationships with the SEC, FASB, and AICPA. 

Bob began his career with Ernst & Young in 1969 in the Chicago office after graduating from DePaul University.  From 1974-1976, he was the Corporate Controller for a Fortune 1000 manufacturing company in the Chicago area.  From 1982-1984, he was a Professional Accounting Fellow in the SEC’s Office of the Chief Accountant in Washington, D.C.  Bob was E&Y’s representative on the FASB’s Emerging Issues Task Force (1986-1992) and on the AICPA’s SEC Practice Section Executive Committee (1995-2001), and was a member of the AICPA’s Board of Directors (2000-2001).