Manager Management

Dennis J Wilber

* ******* **** *****, **** Point, NY 11772 / *************@***.*** / 631-***-****

SENIOR MANGEMENT LEADER with demonstrated success in managing Investments, Debt, Treasury (Banking and Cash Flows), Retirement Benefit Plans and Risk Mitigation. Widespread experience working with Board of Trustees, investment managers, actuaries, banks, custodians, consultants and other internal and external resources. Effective leadership skills with demonstrated ability to attract, develop, and retain highly skilled teams. Strong problem solving, analytical and project management skills, with proven track record of performing complex assignments under tight deadlines while maintaining the highest standards of accuracy.

Professional Experience

Commonwealth Care Alliance, Boston, MA November 2017 - Present

Consultant- Investment Services for a not-for-profit, community-based healthcare organization

Process request for proposals and provide recommendations for institutional investment management services, and custodial services.

Visiting Nurse Service of NY, New York, NY July 2002 - November 2017

Director of Investments and Treasury for a $1.2 billion home health, long term and managed care company – the largest non-profit home health care company in the country, servicing 33,000 patients daily.

Investments: Responsible for managing investment staff of two analysts and overseeing the organizations Corporate, Endowment, Pension and Insurance reserve investment programs, totaling over $1.2 billion. Oversaw strategic asset allocation modeling of traditional and alternative investments, portfolio risk management, tactical portfolio rebalancing, manager selection and ongoing due diligence, investment product research, selection and management of all other service providers, investment policy development, liquidity management, performance / financial / compliance reporting, commission recapture program, collateral, transitions, capital calls, class actions, contract & fee negotiations, audits, budgeting and ongoing analysis of the markets. In addition, I Served as secretary for Investment Committee meeting which includes writing minutes, preparing agendas, development of meeting materials and presentations on a wide variety of strategy, market and risk topics.

Portfolio produced long-term top quartile risk adjusted returns vs. peers.

Implemented investment commission recapture and securities lending program earning $300k annually.

Negotiated manager / bank agreements which improved portfolio collateral availability by $100M.

Structured perpetual charily fund which donates $50k annually to widows of Fire & Police officers.

Debt management: Indentified potential financing options and oversaw agency-wide debt; Term loans / Swaps, Letters of Credit, Lines of credit, Surety bonds, Subordinated loans, leases and structured litigation settlement options. Performed scenario analysis of financing alternatives factoring in borrowing cost, cash flows, investment liquidity, collateral requirements and impacts on P&L / Balance Sheet and presented financing options to Board. Other responsibilities included; hiring consultant, lender searches, RFP preparation, contract negotiation (terms, rates, fees, covenants, other), management of closings and compliance reporting.

Successfully established an $80M 5 year 2.4% term loan from initial lender search to RFP to closing.

Restructured $176M debt facility with a 25 year fixed rate of 4.5% with flexible prepayment/termination provisions and favorable financial covenants which reduced annual S/T debt service by $17M and lowered collateral requirements by $50M in times of high uncertainty.

Negotiated removal of annual credit line charges resulting in a saving of $120k annually.

Transitioned letter of credit into a Surety Bond reducing collateral requirements by an additional $40M.

Negotiated litigation settlement payment options which reduced the obligation by $7M.

Defined Benefit / Defined Contribution Management: Managed the pension plan contribution and expense forecasts around an array of assumptions and implications of regulatory issues. Oversaw investment and operational aspects of the retirement plans, including provider searches/hires/terminations, fee and contract negotiation and management relationship with external actuary / investment managers / investment consultant / trustee / custodian and other service providers. Responsibilities included; investment manager selection and ongoing monitoring, strategic asset allocation, development of plan funding strategies / de-risking strategies, regulatory compliance, FASB disclosures, audits, sensitivity analysis for demographic assumptions / discount rate / return on investment and benchmarking of DC fund expense ratios and administrative fees.

Partnered with HR and actuary to successfully spin off of Pension Plan to DC plan for 12,000 employees which reduced funding volatility and annual funding obligations by $3M on average.

Developed corporate pension contribution policy which reduced PBGC premiums by $15M in 15 years.

Successfully hired actuary and negotiated fee structure by $40k+ annually.

Cash Management: Oversaw corporate liquidity and projected intra-day / intermediate / long-term cash position to assure sufficient cash is on hand to meet daily working capital needs and properly align long-term investment horizons with cash needs. Manage credit line usage, intercompany, investment draw downs, cash agency-wide transactions, and implement strategies to optimize the cash management processes.

Banking: Oversaw agency-wide banking, account structure, services and products, fraud protection controls, internal authorizations, bank fees and user training.

100% fraud protection during my 15 years managing the Treasury department.

Reduced annual banking fees by $60k while greatly improving overall operating efficiency.

American Tissue Corporation, Hauppauge, NY August 2001 - July 2002

Treasury Manager for the fourth-largest U.S. tissue paper manufacturer, employing nearly 5,000 people at factories across the country.

Worked with Deloitte Corporate Restructuring Group to dissolve company after bankruptcy. Oversaw Treasury, Payroll, Insurance, Accounts Receivable, Accounts Payable and assisted in due diligence for sale of assets.

Delta Funding Corporation, Woodbury, NY March 1993 - August 2001

Treasury Manager for a finance company that originated and securitized over $4B mortgage loans.

Oversaw Treasury, Cash flows, Banking, Debt management and Investment office. Analyze, recommend and implement strategies to optimize the cash management processes. Managed loan syndication warehouse and financial aspects in the loan securitization closings.

First national Bank of Long Island, Glen Head, NY May 1988 - March 1993

Cash Manager

Responsible for daily position, calculation of reserve requirements, trading Fed Funds, MBS portfolio, budgeting, account analysis, accrual calculations, and assist with month-end and year-end closings.

Education: Hofstra University, Hempstead, NY / BBA Banking and Finance, Cum Laude

Publications, Speakerships and Professional Associations

Author of article: Transparency and investment portfolio risk October, 2011 issue of The Connex Chronicles

Speaker at various conferences: 8th Strategic Investments Sector Meeting, Real Assets conference, Investment Educational Symposium

Financial associations: Treasury Management association of NY, Association of Financial Professionals, Pension Group East (Sat on Steering Committee)

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