John C. McHugh
**** ****** **** *****, *******, GA 30338
(h) 770-***-**** / (c) 678-***-****
********@*********.***
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Summary
A Senior Manager experienced in Transitions, Operations, Technology
Delivery, Project Management, Outsourcing, Process Design, and Vendor
Management. Proven ability to develop and execute strategic initiatives by
developing, planning and implementing creative solutions. Seeking an
opportunity where my prior work experience can be leveraged to achieve
operational efficiencies and increased profitability with in an
organization.
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Areas of Expertise
Budgeting & Mediating Problem Solving Strategic
Planning Planning
Change Management Motivating Process Design Vendor
Management
Contract Review Operations Project Vendor Review
Management Management
Expense People Management Setting and Vendor Selection
Management managing to
standards
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Professional History
Consulting 2007 -2009
Independent Consultant, PRM Capital Management (through ZeroChaos) for Bank
of America
Change Lead/Consultant Responsibilities
. Manage projects through team management, developing work plans and
maintaining budgets, documenting decisions, coordinating weekly
meetings and testing, negotiating vendor pricing, acting as the
liaison between legal and compliance departments, identifying and
tracking risk items, and keeping business partners updated on the
status of the project
. Utilize Bank of America's SIX SIGMA and ECMS protocols for project
execution
. Prepare executive presentations, implement business routines,
conduct analysis and research, develop communications and training
procedures, and lead cross-functional initiatives
Change Lead, LaSalle Transition - Front Office Portfolio
2009
. Managing three initiatives - Tax, Front Office Assessment, &
Historical Data for Servicing
. Developed training materials for Tax related topics (Wash Sales and
Amortization & Accretion) and an end user guide for the History Tool
(USTH-LaSalle History Reports)
. Negotiated a 20% price reduction for the vendor statement conversion
. Coached team on presentation preparation and development and Trust
business processes
Ops Portfolio Lead, Preferred Services Investment Day One (ID1)
2008
. Successfully directed a team of four Change Leads (FTEs) implementing
8 projects
. Analyzed and addressed cross functional inter-dependencies related to
technology, associate training, and sales impacting the portfolio of
projects which included:
. Employment hierarchy, retirement helpdesk, investment
supervision, contact center operations, site readiness,
investment and banking service and fulfillment, and capacity and
resource management
Change Lead/Project Manager for Bank of America/U.S. Trust Transition
2007-2008
. Successfully delivered the Enhance Historical Data for Servicing
project consisting of five independent work streams
. Successfully negotiated a $200k reduction (60% of total cost) for
contracted vendor services which kept the project within budget
AST Capital Trust Company 2006 - 2007
An affiliate of American Stock Transfer & Trust Company, Phoenix, AZ
(Formerly known as Capital Trust Company of Delaware and AST Trust Company
of Phoenix)
Chief Operating Officer
. Served as Chief Operating Officer for Capital Trust Company of
Delaware during interim transition phase
. Managed 150 employees covering all facets of a multi-site business
including Human Resources, Operations, Treasury Services, Technology,
Accounting, Collective Fund and Client Services
. Held quarterly multi-site town hall meetings for employees to discuss
company goals and objectives
. Oversaw successful integration in excess of $18 billion of assets
under administration for the merged companies
. Provided leadership in identifying an alternative Trust Accounting
System following the merger
. In the first 120 days, renegotiated contracts resulting in excess of
$100,000 in annual savings
. Reduced overall turnover by improving employee benefits at no
incremental cost to company, securing more highly skilled individuals
by enhancing the applicant screening process, and increasing the
employee referral bonuses
. Implemented weekly management reports to gauge patterns in volume and
monitor company risk
. Restructured Revenue Sharing department resulting in a 98% collection
rate for ninety day receivables, while enhancing both internal
reporting and client reporting
. Oversaw the implementation of an internet cashiering application
establishing on-line access for TPAs to process participant and plan
distributions
. Member of the company Trust Committee and the Executive Management
Team
AMVESCAP
AMVESCAP National Trust Company, Atlanta, GA
2004- 2006
Vice President
. Managed the launch of a $5.2 billion collective fund sub-advised by
AIM Investments
. Administered sixty-five collective trust funds with over $40 billion
in assets using both internal and external sub-advisors
. Supervised security lending and Trust Company vendor management
programs in excess of $5.5 billion
. Coordinated all risk management functions with internal counsel
inclusive of Disaster Recovery Planning, the OCC Exam, the internal
audit, SAS70, the production of the trust annual financial statements,
and all aspects of client and fund tax reporting (5500, K-1s, etc.)
. Successfully negotiated $100,000 in fee concessions with audit firm
and service providers
. Managed Trust Company transition from AMVESCAP Retirement to INVESCO
Institutional platform
. Implemented vendor fee concessions reducing expenses by $2 million
. Member of Senior Management Team reporting directly to CEO
. Managed the trust's sub advisor relationships
Prudential Financial
1992 to 2004
Prudential Bank & Trust Company, Atlanta, GA
1999 to 2004
Vice President, Director of Bank Operations
> Responsible for Institutional Retirement Trust, Personal Trust, and the
Alliance Account (Company Asset Retention Account)
. Direct report of the Chief Operating Officer and a member of the
Senior Leadership Team
. Executive Trust Committee and Trust Acceptance Committee member
. Operations and Systems Oversight of approximately $3 Billion in assets
(Institutional Trust - $650 million, Personal Trust - $375 million,
and the Alliance Asset Retention Account - $2.2 B)
. Provided leadership for Trust Operations and Vendor Management
direct reports
. Obtained the highest Personal Trust Operations OTS rating for
two consecutive years
. Successfully developed and managed the exit activities for the
Bank's Institutional Retirement Trust lines of business by
working with outside Law firms, Wachovia Bank, US Bank, State
Street Bank, and Reliance Trust Company
. Successfully managed the outsourcing of the Bank's Back Office
Trust Operations to SEI Trust Company and State Street Bank
resulting in significant annual cost savings
. Developed a middle office platform for Personal Trust through
resource reorganization and strategic hiring resulting in
increased Financial Advisor and customer satisfaction
> Operations & Systems - Process Redesign and Transitional Management
Leader
. Coordinated the request for proposal process and the vendor selection
initiatives to outsource the Bank's home equity business to PNC Banks
Consumer Loan Servicing Center resulting in the Bank's return to
profitability
. Designed, implemented, and managed system enhancement initiatives for
the Alliance Account resulting in a paperless processing system for
the Alliance Call Center
. Served as senior liaison with external legal counsel for drafting,
negotiating, and executing third party vendor contracts
. Implemented savings of $500,000 for the 2003 Alliance operating budget
through contract negotiations and other cost reduction exercises
. Renegotiated internal company contracts resulting in additional
recurring institutional trust revenue over $500,000 per annum
. Managed third party consultant (PriceWaterhouseCoopers, ADS, Paragon,
etc.) engagements for conversion and organizational restructuring to
meet planned target dates within budgetary limits
. Led Deposit, Lending, and Treasury Operations; Institutional Trust
Administration; and Business Systems Analysts through transition and
redesign periods during the Bank's reorganization
. Developed lending strategy redesign representing annual savings of
more than $1.8 million
Prudential Securities Incorporated, New York, NY
1996 to 1999
Associate Vice President, Project Manager for Unified Account Platform
. Implemented cross functional business initiatives and on-line account
access platform for Agent Channel and Prudential Financial Asset
Retention Account platforms (Alliance Account)
. Managed transition of PRUCO Securities Cash Management Account
operations from New Jersey to New York City resulting in a more
effective consolidated operation, as well as the reconciliation of its
brokerage accounts cash activity
Additional Prudential Securities responsibilities from 1992 to 1998:
. Assistant Vice President/ Manager of Insurance & Annuity Operations
Manager of Business Systems Analyst Team
Supervisor for Transfer Department (ACATS) and Credit (Margin)
Department
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Education/ Licenses
Loyola College, Baltimore, Maryland -Bachelor of Arts, 1992
Cannon Trust School - Administration I & II
Licensed Real Estate Agent - Atlanta, GA
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Special Awards & Achievements
Recipient of the 2001 Prudential Financial Chairman's Award for Innovation
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