Experience

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  Endurance Advisory Partners

  • Tulsa, Oklahoma, United States

  • Managing Director

    • Jan 2009 - Present
    • Tulsa, Oklahoma, United States

    Consultant and/or interim executive performing strategic planning, risk system design/development and implementation, M&A and/or funding transaction execution, executive management and other roles.

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  LevelField Financial

  • United States
  • Financial Services
  • 1 - 100 Employee

  • Bank President and Chief Risk Officer

    • Nov 2022 - Present

    Executive responsible for guiding LevelField's approval to become a financial holding company and acquisition of an FDIC-insured bank. This process includes negotiation of the acquisition agreement, development of the business plan for the combined entity and confirmation that LevelField's control framework is adequate for a tightly regulated bank.LevelField Bank will operate 4 businesses:1) Community Banking2) Digital Asset Banking3) Custody/Safekeeping of Digital Assets4) Trading Digital Assets

  • Interim Executive - Bank Diligence Consultant

    • Sep 2022 - Nov 2022

    Conducted due diligence on potential bank acquisitions.

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  GloriFi

  • Dallas, Texas, United States

  • Chief Risk Officer

    • Sep 2021 - Nov 2022
    • Dallas, Texas, United States

    Member of the executive leadership team and one of the first employees brought in to build a diversified, digital first, financial institution from scratch. Target market was first consumers and then small businesses. Services included a bank (deposit accounts, credit cards, mortgages), property and casualty insurance, and brokerage. Our plan was to design/build using state of the art technology that would be infinitely scalable (cloud based), real-time (not limited by overnight processing), secure (biometrics and other state of the art fraud prevention), and digital first (minimize the single biggest cost in financial services -- salaries and benefits).

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  Gateway First Bank

  • United States
  • Banking
  • 700 & Above Employee

  • Treasurer

    • Aug 2018 - Jun 2020

    Interim Executive responsible for daily liquidity management, wholesale funding, asset:liability management and the bank's securities portfolio.

  • Capital Markets and Liquidity Management

    • May 2019 - Feb 2020

    Post merger, responsible for secondary marketing (pricing model, best execution analysis, pooling/delivery strategy and pipeline hedging), refinancing warehouse lines with FHLB advances, and developing mortgage servicing right (MSR) strategy. Led deal teams on several MSR sales which were required to comply with the regulatory conditions to the merger. Executed sale of delinquent loans purchased out of Ginnie Mae pools (EBOs).

  • Chief Risk Officer/Chief Credit Officer

    • Aug 2018 - Aug 2019

    Served as one of the IBFR-named officers (initially as CRO/CCO) enabling Gateway Mortgage Group to merge with Farmers Exchange Bank to create Gateway First Bank -- the only real example of a mortgage company merging into a bank. Wrote 150 page acquisition business plan that was necessary to gain approval. Managed the pre-acquisition FDIC exam. As CRO/CCO, responsible for establishing risk management policies for the bank including (i) liquidity risk limits and funding strategy, (ii) interest rate risk limits and (iii) credit risk and concentration limits. Developed management reporting package incorporating key performance indicators and risk metrics. Developed framework for assessing mortgage loan production office performance.

  • Endurance Advisory's Interim Executive - Strategic Planning

    • Feb 2018 - Jun 2019

    Interim Executive responsible for the acquisition of Farmers Exchange Bank by Gateway Mortgage Group.

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  Endurance Advisory Partners (formerly known as Everett Advisory Partners)

  • Chicago, Illinois, United States

  • Managing Director

    • Nov 2008 - Aug 2018
    • Chicago, Illinois, United States

    Provided strategic analysis/advice and executed special projects for financial institutions. Expert on capital raising, asset quality, liquidity, financial alternatives and asset:liability management.• Assisted a private equity backed bank with $1B in capital get regulatory authority to buy both a struggling bank and a failed bank. Developed new financial and risk management policies for the combined institution.• Managed a bank’s divestiture of a sub-prime personal lending business with its own branch network.• Worked with a family office (as majority investor) to raise capital and acquire a bank.• Developed and automated a new board reporting package using data downloads of all loans and deposits.• Performed credit risk reviews to prepare for an OCC exam; restructured credits and organized credit files.• Enhanced risk management/financial reporting functions (FDICIA compliance) for a $1B bank.• Evaluated the expected cost of stock appreciation rights, options and other executive compensation plans.• Developed account-level models to generate accurate financial projections.• Perform annual reviews of liquidity, funding and asset:liability management functions.• Implemented risk-reducing policies and procedures to assist banks in responding to consent orders.

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  Federal Home Loan Bank of Chicago

  • Vice President

    • Dec 2000 - Nov 2008

    Performed various roles of increasing responsibility. Started in the mortgage business, then moved to corporate strategy/accounting/risk management and finally to P&L management of liquidity products for banks.Product Manager responsible for new product structures and overall profitability of the correspondent lending business. Managed growth from $23 to $35 billion.1) Introduced overnight product.2) Shifted pricing strategy (consistent spread instead of running "specials").3) Introduced new capital rules to overcome objections to capital purchase requirements.Chief strategist for the FHLB. Addressed critical accounting issues. Built quantitative models to support new IT platforms. Developed strategies to mitigate risk.1) Led strategic planning process which determined the business mix between advances, mortgage loans and MBS.2) Evaluated potential mergers with other FHLBs.3) Developed capital plan alternatives.4) Modeled loan loss reserves, derivatives amortization, risk-based capital adequacy, et al to set appropriate policy.5) Maintained ongoing dialogue with regulators and rating agencies.Product manager for the mortgage business. Managed relationships with national accounts and mortgage insurance companies. Designed new product/credit structures and gained rating agency approval. Managed growth from $15 to $86 billion. Despite adverse market conditions, credit losses remain minimal ($2 million in ten years versus model estimates of almost $200 million).1) Structured deals to influence behavior by allocating risk among FHLBs, originators and investors.2) Built analytics: modified FHLB pricing strategy and formula; reverse engineered Fannie Mae and Freddie Mac pricing algorithms; developed in-house credit risk model.3) Evaluated secondary marketing strategies used by national accounts.4) Negotiated and executed alliances with the American Bankers Association and Ginnie Mae.

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  Bank of America

  • Managing Director, Corporate Finance Group

    • Apr 1990 - Nov 2000

    Led cross-functional group of professionals (relationship managers and product specialists) providing financial advice to large corporate clients. Goal was twofold: 1) enhance the commercial bankers' ability to discuss investment banking topics and 2) increase the likelihood that the client would select the Bank for its next transaction.Completed hundreds of engagements. Solutions emphasized feasibility considering current market conditions. Projects culminated in presentations to the CFO, CEO or board of the client. Representative assignments included:1) Refinancing high yield debt with new convertible preferred, bank facilities and bonds.2) Evaluating the financial implications of potential acquisitions; which, for example, resulted in a merger-of-equals transaction that we executed.3) Pioneering use of Monte Carlo simulations to identify optimal capital structure and debt covenants.4) Determining all sources of financing as well as the impact of a leveraged recapitalization including an assessment of using a special dividend, tender offer or share repurchases to effect the transaction.5) Evaluating the sensitivity of capital structure choices as business mix shifts from manufacturing to finance.6) Negotiating amendments to financial covenants and evaluating financial alternatives to avoid a breach.7) Evaluating all-in cost differentials between unsecured debt, secured debt and various types of securitization.8) Leading the Bank's convertible debt marketing effort in partnership with DE Shaw's trading platform.Authored three articles for the Journal of Applied Corporate Finance about state of the art financial strategies.Shifted the corporate finance group's mandate from pure advisory (at Continental Bank) to transaction execution (at Bank of America).Directly managed the corporate finance team (5-10 staffers). Led training and development for all corporate banking analysts and associates (up to 40).

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  Learning Insights

  • Capital Raising Expert

    • Sep 1997 - Dec 1997

    Editor, Capital Raising. Served as subject matter expert on raising all forms of capital for this investment banking training program. Identified world's leading experts on specific forms of capital. Wrote interview guides to elicit commentary on exemplary transactions and to highlight the key rationale for these transactions.Program was widely adopted and used by Goldman Sachs et al.

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  Continental Bank NA

  • VP

    • 1990 - 1994

    Predecessor to BofA

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  Merrill Lynch

  • Associate

    • Mar 1987 - Apr 1990

    Corporate finance generalist serving large industrial clients. Executed:Common Stock (including IPOs)LYONs (zero coupon convertible debt)Convertible Preferred Stock and Convertible DebtESOP NotesFixed Rate Preferred StockPublic and Private DebtAnalyzed mergers, acquisitions, LBOs, recapitalizations, spin-offs, divestitures and refinancings.

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  Booz & Company

  • Research Analyst

    • Mar 1984 - Feb 1987

    Analyst, Strategy Practice. Analyzed strategic and operational issues for clients. Representative assignments included:1) Formulating a large S&L's strategy to pursue retail banking.2) Collecting and analyzing organizational charts and expense data for staff functions of food companies.3) Evaluating a refrigerated distributor in the UK; determined which of businesses to divest or retain.

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  Booz Allen Hamilton

  • Research Analyst

    • 1984 - 1987

    Predecessor to Booz & Co