Risk Analytics
Risk Management Repair
Sometimes key parts of the bank or the mortgage bank are not working well. It might be within the treasury function or operations or retail sections of the bank. Often default management divisions for mortgage servicing firms today are the first to break down. These units may underperform routinely. Audit issues may be a continual burden. Customer concerns do not seem to go away. Employee issues are a constant.
Bridge Enterprise Solutions can help. This is where we focus our risk man-agement and strategy execution expertise and isolate our energy into one significant area of the bank or the mortgage servicing operation. An independent assessment of the team, processes, priorities and strategic risk management of a particular unit of the bank or mortgage bank can be the game changer you need.
Our reviews include deep dive interviews of management, evaluations of the staff and the workflow, analysis of systems and critical communication tools. We leverage our ERM risk map into these areas, which provides invaluable insight. Our deliverable is a summary of conditions identified along with a proposed solution. We prioritize corrective action required in such a way that management has a road map to resolution.
Quality Surveillance Solutions
BES provides two excellent quality surveillance programs.
Bank Operations Quality
Your operational platform is critical to the success of your organization. We provide ongoing or periodic reviews of every critical area of your bank’s operation from branch controls to the end point balancing of activity with the general ledger. Our reviews and reporting will help your bank or credit union identify key operational weaknesses and help you prioritize the allocation of resources. More importantly, these reviews will help you achieve your strategic objectives as it relates to exceeding customer expectations.
Mortgage Servicing Quality
We have evaluated every line of the servicing requirements of FNMA, GNMA, FHA and VA servicing. We also understand servicing requirements of bank and consumer regulators as well as applicable federal laws. Our organization has developed an audit program that digs deep into the organization to help you determine of your mortgage servicing operation is compliant with these high standards. We deliver reports timely in the month following the month of review. Our team will identify key risks and provide you with a risk rated recommendation that will drill into the cause of the condition rather than just citing the condition. We become a strategic partner with you to help your mortgage company implement strategy without interruptions from costly operating failures.
Other Solutions
A. Policies and Procedures – We can help in the design and development of policies and procedures to assist your organization in its risk management strategies. From front-end call centers, to treasury management or asset acquisitions we can help design policies and procedures to help make your strategy execution a success.
B. Mortgage Servicing Compliance Outlook – BES performs an ongoing assessment and summary of upcoming and actual changes in servicing requirements through surveys of investor and insurer websites, servicing news, regulatory publications, etc. On a monthly or a quarterly basis, we will summarize the information gathered during this process along with our perspective on the impact of these changes on your organization. Quarter-ly, we perform a survey of applicable federal mortgage servicing laws, case law and other related activity. We provide a summary of this analysis to our clients seeking this in-formation.
C. Operational Servicing Analytics – As part of the quality surveillance product offered, BES has identified key risk indicators that are particularly important to banks and mort-gage servicers. Through data downloads and other data gathering techniques, our team of analyst will evaluate the condition of your operation against these key risk indicators on a daily basis. Depending on the nature of the key risk being measured, we will pro-vide your select management team members with alerts describing the condition and po-tential action required.
D. Information System Development – With our team’s understanding of banking and mortgage servicing requirements we are able to support your organization’s information technology development needs. Whether its analytics, management reporting or business process rules we can help you develop install and manage affordable technology so-lutions to further assist your strategic needs.
E. Project Management – We leverage online project management tools and our knowledge of your industry and firm to assist with the implementation of strategic priorities and business risk reduction measures and process improvements. From the design and development of policies to the implementation of detailed procedures we can help your bank or mortgage servicer facilitate the implementation of action items it may not have the capacity to execute with its existing team.
F. Coaching and Development – Our team has a strong background in the coaching and development of key resources. Whether a front-line supervisor or the senior executive team we can provide one on one perspective that can change and mold individuals into more productive team members. This proven coaching model is both practical in its ap-proach and effective in its application.
Tracy Yates |
Tracy has over 20 years of experience in mortgage origination and servicing and mortgage service consulting. As an audit manager for a large public accounting firm, Tracy provided publicly held and privately held financial institutions external audits and risk management services such as outsourced internal audit. Tracy served as the co-servicing manager for a nationwide portfolio of Ginnie Mae mortgage-backed securities representing approximately 350,000 FHA and VA loans for 11 years. For the $14 billion bank holding institution parent of the mortgage-servicing unit, Tracy also created and managed the organization’s enterprise risk-management function for two years.
As the founder of BES, Tracy has managed engagements with small and top ten mortgage servicers, hedge funds and banks ranging in size from $500 million to $14 billion. The focus of these services has been in the areas of mortgage servicing governance, compliance and enterprise risk management.
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Mischa Gorkuscha |
Served as Chief Financial Officer of Liberty Bancorp, Inc. (a $3 billion publicly-owned commercial banking company); Chairman & CEO of Liberty Mortgage Company (a $1 billion mortgage servicing and origination company); Chairman & CEO of Mid-America Credit Life Assurance Company. Responsible at various times for accounting, acquisitions, audit, real estate, insurance, investor relations, legal and corporate secretarial functions, operations/technology and planning.
Mischa was greatly involved in the successful private recapitalization of Liberty during the period of the banking and savings and loan crisis during the mid-1980’s. Mischa’s strategic planning and strategy execution experience in leading a financial institution through troubled waters to strength and vitality makes his insight valuable to any bank.
Earned an MBA from Harvard. Emphasized investments, finance and real estate.
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Sheri Yates |
Sheri served as an audit manager for a large public accounting firm. In her seven-year tenure her clients included banks ranging from $500 million to $5 billion in assets. Sheri was a highly sought after resource and provided risk management consulting and external audit to financial services clients throughout Oklahoma.
Sheri developed risk management tools for her banking clients and successfully completed several large scale clean up projects to assist clients with identifying and correcting process failures that had created significant exposure to financial loss.
Prior to co-founding BES, Sheri served as the Director of Operational Profitability for a $10 billion financial institution. Her role was to identify opportunities for reducing non-interest expense throughout the bank. Sheri successfully implemented automation and process changes throughout the organization.
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Retained Counsel |
Our retained counsel provides monthly and quarterly updates related to federal and state laws governing mortgage servicing activities and related case law. The firm has over 15 years experience specifically dealing with mortgage servicing law and implementation of governance within mortgage operations.
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