SENIOR RISK MANAGEMENT EXECUTIVE
EXECUTIVE PROFILE
Senior risk management executive with strong leadership ability, excellent communication skills, and a strategic business perspective derived from diverse work experiences. Proven track record building organizational capabilities and operating systems. Adept at developing insights and adapting product and portfolio level risk strategies to changing economic and other circumstances. Creative, analytical, proactive and collaborative. Strengths include:
• Risk Management Best Practices
• Risk and Profitability Modeling/Analysis
• Product/Policy Design and Management
• Operations and Project Management
• Loss and Fraud Mitigation Strategies
• Ownership and management of P&L
• Leading and Implementing Change
• Staff recruitment, development & retention
PROFESSIONAL EXPERIENCE
NATIONAL HOME EQUITY LENDER (NHE)
Niche market leader offering prime to near-prime high LTV loans and lines (seconds, firsts, cards)
Chief Credit Officer, SVP – Credit Risk & Portfolio Management (CRM) [2000-Present]
The product set was unprofitable and risk processes were weak when I joined NHE (at that time, a 5-year old start-up). The situation required swift action, challenging consensus building and far-reaching changes:
• Transformed the risk/reward profile of the $2+ billion portfolio, led the company’s transition from a start-up to a mature organization and built a CRM organization from the ground up consistent with standards for “large complex” banks. Built and enhanced credit policy, reporting, loss mitigation, line review processes, scoring, QC and Intermediary Management. Transferred and avoided risks via securitization and introduction of products designed and priced for sale to others.
• Developed, implemented, reinforced and monitored a new credit culture. Discontinued an unprofitable business unit and product - saved roughly $30 million. Created new portfolio products.
• Maintained the portfolio’s pre-loss margins while cutting the risk profile by 50% over time.
• Leveraged proactive loss forecasting to systematically scale back risk before the economic implosion via product management, policy tightening, pricing and exception management.
• Conceived; obtained approval for; and implemented new governance processes for products, credit policy, loan loss reserves (ALLL), residual/MSR valuations, and pricing. Established processes to evaluate and comply with FASB and Regulatory mandates. Chaired related committees and subcommittees. Established delegated authorities and approved out-of-boundary exceptions.
• Hired, developed and directed a robust modeling and analysis team (mathematicians, statisticians, economists, CFAs, etc.) responsible for building, documenting and back-testing the following models: loss curves; ALLL (quantitative migration analysis and qualitative components); prepayments; recoveries; Basel II IRB Approach economic capital (PD, LGD, and EAD); pricing; and valuations.
• Shaped the company’s strategic direction and risk profile by collaboratively creating and obtaining Board approval of a formal portfolio strategy defining business objectives and risk appetite.
• Successfully managed key relationships with regulators, auditors, investors, rating agencies. Improved communication and consensus building with internal stakeholders regarding risk issues.
• Achieved Above Market Performance: NHE’s mortgage portfolio has outperformed the market. Loss rates have been <= 25% of the average for securitized seconds (per S&P) despite NHE’s higher CLTVs. CSFB reported an NHE 2006 pool was the best of the “best” in terms of loss performance
Vice President Central Operations (Processing) and Strategic Alliances [1999-2006]
Designed and managed a new shared services organization with operations (processing, underwriting, appraisal and funding) in California and Nevada supporting multiple channels (peak FTE exceeded 75)
• Reduced costs by 15-60% and turn times by 30-80%.
• Fostered a process management philosophy placing increased emphasis on measuring results; establishing service standards; cross training; capacity modeling; and vendor management.
• Initiated process improvements and spearheaded “modernization” projects (automation, paperless processing, etc.) to implement “faster, cheaper and better” customer service.
• Directed the project to select and install an Automated Decision Engine that improved service levels, enhanced decision quality, and reduced underwriting costs by up to 50%.
• Developed (contract, program design, creative, logistics and evaluation) a strategic alliance with Puerto Rico’s Banco Popular offering products via bilingual mail, inserts and telemarketing.
TOP 10 NATIONAL BANK
VP, Product Manager – Customer Strategic Marketing and Management [1996-1999]
Responsible for developing marketing strategy and offering “first of its kind” programs. Hired and managed a staff of permanent and contract employees to implement customer marketing.
• Achieved record profitability (per marketing dollar spent) via design, approval, and management of an innovative line increase program that achieved a 93.4% acceptance rate; increased commitments by $356MM; increased balances $140MM by the 10th month and reduced attrition by 21%. The following year’s program resulted in $616MM in commitments and similar results.
• New programs included loan reloads, cash rebates, promotional pricing, rewards, retention offers and sweepstakes. Negotiated/managed project to install promo rate functionality in the servicing system.
• Introduced statistical modeling and a “test and learn” discipline into the marketing process to improve understanding of customer behavior, ability to target, and profit maximization.
ANOTHER TOP TEN NATIONAL BANK [1987-1996]
Credit Policy Manager / QC Manager / Management Associate / Senior Financial Analyst
Increasing responsibilities involving consumer and business products and related business units:
• Managed agency, conforming, jumbo, and government products/programs/policies/QC to reduce losses and achieve 98% salable assets. Tripled QC productivity.
• One of five managers responsible for the start-up and management of a new processing center.
• One of three individuals who established the Profitability Group within Finance measuring branch and business unit performance – results led to major changes to operating strategy and pricing.
LARGE SEMICONDUCTOR MANUFACTURER [1982-1985]
Senior Financial Analyst / Product Line Controller / Financial Analyst / Cost Accountant
Profitability analysis, forecasting, capacity planning, cost allocations, and inventory (cost) valuations.
EDUCATION AND TRAINING
• MBA General Management, University of California, Berkeley, Haas School of Business
• BS Business - Marketing, Finance and Real Estate, U.C. Berkeley, Haas School of Business
• Washington Campus Program - Federal Government Policy Formation, Washington D.C.
• Bank Management Associate – Formal 2-year training program including assignments in branch operations and sales, marketing, credit operations, item processing and mortgage sales
• Executive development, Saxon-Hamilton
• Licensed real estate broker, State of California
ADDITIONAL
• Beta Gamma Sigma Honors Society
• Director - NHE Charity Foundation |
