U.S. Department of the Treasury 2012-2022
Office of the Comptroller of the Currency (“OCC”)
Bank Examiner – Large Bank Division
Commercial Credit Team member overseeing various portfolios of a mega-bank and a large bank responsible for the Credit Review function of commercial and investment bank divisions of the mega-bank. Portfolios overseen are Asset Based Lending, Asset Managers, Business Development Companies, Collateral Loan Obligations, Corporate Banking, Hedge Funds, Healthcare, Public Finance, Real Estate, Securitizations, Specialty Finance, Structured Finance, Telecommunications, Media, and Technology, among others. Led and co-led examiners on projects and portfolios and participated in examinations at other banks, including Examiner-In-Charge, Team and Training Team Leader, in Shared National Credit Examinations covering complex transactions, such as Leveraged Lending financings. Worked on projects and collaborated with other regulators, such as the Federal Reserve Bank and Federal Depository Insurance Corporation. Assigned to the college recruiting team for the agency and mentored and trained fellow bank examiners.
Molloy University, Rockville Centre, NY 2013-Present
Adjunct Instructor of Corporate Financial Management (graduate)
and Fundamental Analysis and Company Valuation (undergraduate)
Queens College, City University of New York, Flushing, NY 2012-Present
Adjunct Lecturer of Corporate Finance and Fixed Income and Bond Analysis (graduate school); Corporate Finance and Introduction to Macroeconomics (undergraduate)
MJX Asset Management, LLC, New York, NY 2007-2012
Managing Director/Portfolio Manager
Responsible for investing in broadly syndicated leveraged loans and high yield bonds through
Collateralized Loan Obligation (“CLO”) vehicles with total assets under management in excess of $4.4 billion. Managed and optimized the portfolio through regular credit monitoring, relative value arbitrage, and trading.
- Presented and recommended investments in leveraged transactions in the primary market as well as identified secondary purchases/sales and trading opportunities based on credit fundamentals and relative value arbitrage.
- Prepared and presented quarterly industry reviews with extensive credit emphasis on individual assets in the following industries: Aerospace & Defense, Consumer, Containers, Food & Beverage, General Corporate, Healthcare, and Oil & Gas.
- Responsible for determining recovery values in distressed situations and comparing such values with market levels with a goal to maximize recoveries.
Société Générale/SG Cowen Securities Corporation, New York, NY 1983-2007
Director, Global Credit Portfolio Management 1998-2007
Key player in the structuring, start-up, and management of the infrastructure of Société Générale’s CLO business. Managed ten global portfolios of $11 billion for the Americas division of SG covering the US and Latin America using domestic and overseas credit derivatives swap portfolios, asset sales, and first-to default credit default swap portfolios to optimize credit, concentrations, and economic and regulatory capital.
- Responsible for identifying profitable opportunities to optimize and improve the risk profile of the portfolio, including Relative Value trades, and long and short credit derivative positions on single name transactions.
- As interim Head of Global Credit Portfolio Management between 2001 and 2002 increased the Group’s annual Net Income from $136 thousand to $8.2 million through the identification of long Credit Default Swap (“CDS”) positions, asset swaps, unwinding profitable CDS positions, and other opportunities.
- Launched and managed SG’s first CLO with $2.7 billion in assets.
- CDS positions were initiated and purchased on a company that subsequently defaulted and filed for Chapter 11 protection. The swap positions resulted in approximately $12 million of net profit to the Bank.
- CDS Sold positions of $100 million were executed that diversified the portfolio and resulted in approximately $1.5 million of net profit to SG. Identified an opportunity whereby a CDS was purchased and unwound within one month resulting in a net profit of $700 thousand on a $10 million position.
- Arranged, proactively managed, and monitored the portfolio using KMV and other market warning signals to identify potential deteriorating credits, improve the EVA and Mark-to-Market, and reduce Concentrations in the portfolio.
- Prepared Market Price Assessments on initial transactions, opining on pricing, concentrations, and credit profiles.
- Provided periodic corporate and industry analysis on sectors such as Automotive, Chemicals, Gaming, Lodging & Leisure, General Corporate, Leveraged Finance, Oil & Gas, Project Finance, Sports, and Utilities.
- Actively managed and provided quarterly analysis of the portfolio, measuring economic capital requirements, risk adjusted profitability, and business unit performance.
Vice President and Team Leader, Leveraged Finance Group 1990-1998
Sourced, analyzed, structured, negotiated, documented, closed and managed transactions covering bridge financings, mergers and acquisitions, distressed and asset-based situations, debtor-in-possession financings, turnarounds, workouts, refinancings, recapitalizations, subordinated debt, and cross-border transactions. Worked with the Merchant Banking Division in the analysis, recommendation, and management of investments in equity funds that approximated $300 million.
- Contributed Leveraged Finance Net Banking Income on an annual basis with an average ROE in excess of 40%.
- Strong ability to evaluate complex financial transactions and determine the appropriate capital structure that required senior secured financing, senior notes and mezzanine debt. Analyzed off-balance sheet needs including documentary and standby letters of credit, financial derivative products, foreign exchange, and leasing.
Assistant Vice President, Credit Review 1988-1990
Performed credit review functions for the U.S. portfolio. Reviewed the adequacy of the loan loss reserve, coordinated training for U.S. and overseas personnel in Credit and Corporate Finance, and assigned to special projects and performed studies on lending to specific industries, such as Insurance and the Mutual Fund industries.
Assistant Treasurer/Credit Analyst 1985-1988
Developed the budget process for the Bank in addition responsible for regulatory and management reporting, and Accounts Payable.
Financial Officer/Financial Analyst 1983-1985
Deputy in the Financial Department of the Controller’s Group. Directly managed several units of the Financial Department that included Budget, Reports, and Accounts Payable.
EDUCATION:
M.B.A. Accounting, Iona University, New Rochelle, NY
B.A. Mathematics, Iona University, New Rochelle, NY
Credit Training Program, JPMorgan Chase & Co., New York, NY
Computer proficiency in Excel, Word, and PowerPoint.
COMMUNITY SERVICE & PROFESSIONAL AFFILIATIONS:
- Planning Committee member of Catholic Health Services of Long Island (2020-Present).
- Board of Director and Finance Committee member of Catholic Health Services of Long Island (2011-2019).
- Credentialing Committee member (2015-2019) and Planning Committee member (2020-Present) of Catholic Health Services of Long Island.
- Adjunct Professor of Accounting, Corporate Finance, and Public Policy at Long Island University (Graduate and Undergraduate).
- Adjunct Professor of Accounting, Business Mathematics, and Corporate Finance at the American Institute of Banking (Undergraduate).
- Guest speaker on Corporate Finance topics, including Fordham University.
- Board of Director member of the Valley Stream Little League (2000-2012).
- Organized and responsible for local and district level Knights of Columbus Free Throw youth basketball competition.
- Chairperson and member of Holy Name of Mary Pastoral Council (2005-2009).
- Chairperson of a Regional School Board; elected to Holy Name of Mary School Board