Real Estate Manager
Resume:
MICHAEL J. LINDLEY
West Kingston, RI 02892
SUMMARY:
Experienced finance professional with strong banking, capital markets, commercial real estate, and regulatory background.
EDUCATION:
University of Rhode Island, Kingston, RI – Bachelor of Science, Marketing 1983 Bentley College, Waltham, MA – Master of Science, Finance 1990 (4.0 GPA) WORK EXPERIENCE:
Federal Reserve Bank of Boston, Boston, MA:
• Senior Financial Analyst & Examiner (January 2016 – February 2017) – Member of Large Bank Organization (LBO) Supervisory team responsible for the continuous monitoring and examination of one of the largest regional banks in the US. My focus was on the review and analysis of the bank holding company
(BHC) and subsidiaries financial statements, SEC filings, Call reports, Y9C, Y14, and confidential management reports. I participated regularly in examinations including the annual CCAR and DFAST exercises. Responsibilities also included preparation of quarterly and annual System reports on the BHC, monitoring of earnings calls, peer group analysis, regular meetings with senior management of the BHC and subsidiaries and interaction with outside auditors and other regulatory agencies. My role on the supervisory team interacted and supported other areas of the team including asset quality, capital and liquidity. Bryant University, Smithfield, RI:
• Adjunct Professor of Finance (Spring 2014) – taught 2 sections of an undergraduate Corporate Finance course (FIN 201).
RBS Citizens Bank, Providence, RI: (super regional bank; $130 BLN in assets)
• Sr. Vice President, ALCO Treasury (2009 – September 2011) – Senior member of ALCO group responsible for analysis of interest rate risk of all mortgage related assets of the bank (70% of assets on balance sheet). In house owner and expert for third-party mortgage prepayment model including calibration of model drivers, testing of updated versions, and integration into the overall ALM engine. Monthly tasks included modeling and analysis of the bank’s 1st mortgage, home equity, HELOC and AFS mortgage backed securities investment portfolios for base case and interest rate simulation scenarios. Assist in preparation of ALCO package and presentation of special topics to ALCO committee consisting of senior bank management. Regularly interface with parent company, regulators, and auditors. Benchmark ALCO prepayment model against Yield Book and other third party sources and defend results to CFO and Treasurer. Key accomplishments in this role included calibrating the prepayment model to reflect the post financial crisis market and breaking out the bank’s mortgage and investment portfolios in greater detail allowing for more accurate analysis, reporting and stress testing.
• Sr. Vice President, Risk Management (2007 – 2008) – Explored feasibility of developing an Active Credit Portfolio Management program within the framework of BASEL II to improve risk adjusted returns and manage concentration risk through the use of credit default swaps, securitization, use of the ABX and CMBX indices, etc. Produced white papers on use of credit derivatives to senior management and worked with systems group to lay the groundwork for future use of CDS strategies. Utilized external credit risk models such as Moody’s KMV for building BASEL II compliant models to determine probability of default (PD) and loss given default (LGD) of loan and securities portfolios. Participated as member of team tasked with the securitization of the bank’s indirect auto book.
• Vice President, Treasury Portfolio Manager (1998 – 2006) – Portfolio Manager for a $1BLN credit sensitive (initially BBB rated) commercial mortgage back securities (CMBS) portfolio, real estate CDO, and GNMA project loan portfolio. Successfully worked with rating agencies to achieve multiple upgrades of purchased bonds due to superior credit performance. Monetized these ratings upgrades via strategic sales prior to financial crisis resulting in large realized gains for the bank and double digit returns on the portfolio. As a result the bank had zero exposure to these sectors prior going into 2007. Achieved superior credit performance by developing a credit model incorporating market research data, bond structure, and bond collateral to analyze, stress, and purchase lower rated investment grade bonds. Reported to Investment Committee made up of Vice Chairman of the bank. Managed the new product approval process for new investment types that provided superior returns with reduced capital exposure. These included GNMA project loans, FNMA DUS, and SBA bonds. Also managed an investment grade corporate bond portfolio from 2001 – 2004. Managed one to two junior analysts in this role and our team was recognized by the industry for our credit underwriting skills. I also served on several CMBS panels at industry conferences throughout my years as portfolio manager.
• Assistant Vice President Real Estate Management (1997 – 1998) – Finance member on team project that completed a large sale/leaseback program of bank owned branches. Headed RFP process for facilities management data system.
Brown University, Providence, RI:
• Real Estate Manager (1995 – 1997) – Responsible for purchase and sale of university properties and alumni donated real estate. Managed Brown’s commercial subsidiary that provided an income stream and served as a place holder for future buildings. Developed revised strategic plan for university real estate that identified core vs. non-core properties. Successfully sold numerous non-core buildings thereby reducing university costs while providing cash flow for school programs. Another benefit was returning these properties to the city tax rolls. Negotiated purchase from Resolution Trust Company of historic Old Stone Bank headquarters building in Providence for use as a University museum. Developed policy on acceptance of real estate gifts and worked with alumni and donors on structuring and then disposition of gift property. Winthrop Financial Associates, Boston, MA: (large real estate investment firm)
• Sr. Financial Analyst (1991 – 1994) – Asset manager on $1BLN net lease portfolio involving the purchase, sale, and refinance of commercial real estate owned in private and public partnerships. Prepared 10-K’s and 10- Q’s for publicly traded real estate partnerships. I was also a key member of a team that managed the Pioneer/Winthrop Real Estate mutual fund focusing on publicly traded REIT‘ s. My responsibilities included REIT stock analysis, discussion with senior management of companies, attendance at road show presentations, recommendations to Pioneer for the purchase and sale of REIT stocks, and monitoring of portfolio positions. Finally I was the main analyst on several acquisitions of commercial real estate from troubled thrift institutions. I performed cash flow analysis using the ARGUS model, conducted on-site property visits and created asset management plans for purchased properties. Gilbane Properties, Providence, RI: (commercial real estate developer)
• Sr. Financial Analyst (1983 – 1991) – Conducted pro forma financial modeling for commercial real estate development projects. Built several excel models for risk/return analysis, project cost models, and disposition analysis. Worked with lenders to secure financing for commercial real estate projects. My first role at Gilbane was as the development accountant for the $60MM Fleet Center project which at the time was the largest public/private real estate development in the history of Providence. Worked with HUD on securing UDAG financing and became familiar with historic and investment tax credits for the project. SYSTEMS KNOWLEDGE:
Bancware ALM5; mortgage prepayment models including AFT (LPS), Andrew Davidson
(ADCO), and Yield Book; Essbase; Paragon; INTEX; TREPP; Bloomberg; Moody’s KMV Credit Monitor; Microsoft Excel, PowerPoint, and Access. AWARDS:
Beta Gamma Sigma
OTHER:
Former Treasurer of the Friends of the Capron Park Zoo Trustee of the Richmond Rural Preservation Land Trust Board member of Defenders of Animals, Inc.
EMAIL ADDRESS:
ac2j4w@r.postjobfree.com
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