ANDREA WARD
South Glastonbury,CT
Summary
Proactive and results-oriented leader with over 20 years of experience managing cross-functional and cross-departmental teams. Expert in eliminating organizational silos to foster collaboration, streamline operations, and cost reduction.
Overview
20
20
years of professional experience
Work History
Chief Operating Officer
Paramount Bank (formerly Paramount Mortgage)
02.2019 - Current
- Orchestrated a strategic overhaul of mortgage practices, leading to an 650% increase in originated mortgage volume, and a 40% reduction in unit processing costs within the first 12 months
- Restructured fulfillment operations resulting in a 42% increase in operational efficiencies
- Continued Oversight of day-to-day fulfillment operations
- Implemented a first-of-its kind variable comp structure for operations that reduced personnel cost while increasing top performer compensation.
- Managed a three-year implementation of the Loan Origination System
- Spearheaded the successful implementation of two advanced loan operating systems
- Served as Interim President from June 2022 to July 2023, playing a pivotal role in the recruitment of the new President
- Negotiate contracts and agreements to secure favorable terms and maximize profits.
- Established key performance indicators for each department to track progress
- Ensured regulatory compliance by developing policies in line with industry best practices to mitigate risks associated with legal or ethical violations.
- Managed financial, operational and human resources to optimize business performance.
Chief Operating Officer
First Alliance
02.2017 - 01.2019
- Guided teams through periods of significant change by providing clear communication and decisive leadership during transitions.
- Streamlined operations by implementing efficient processes and systems, leading to increased productivity and cost savings.
- Championed the adoption of new technology solutions to streamline operations, automate manual tasks, and improve overall efficiency levels.
- Collaborated with legal, accounting and other professional teams to review compliance with regulations.
SVP, Credit Policy
Prospect Mortgage
10.2010 - 02.2017
- Responsible for obtaining variances and overseeing pilot programs with GSE's
- Created credit underwriting overlays to minimize risk exposure while ensuring the identification of quality investment opportunities including the creation of a 580 FHA program which grew volume by 15%
- Conducted extensive product development research and introduced new product offerings for the secondary market
- Participated in a small round table group working directly with Credit Policy employees at HUD to deliver the 4000.1 Single Family Handbook.
- Led escalation teams to provide optimal opportunities for individuals seeking homeownership and financial solutions through real estate equity
National Underwriting and Operations Manager
Guaranteed Rate
01.2005 - 10.2010
- Managed daily operations for underwriting and processing, ensuring smooth workflow and compliance.
- Oversaw second-level underwriting reviews, exception requests, and denials, maintaining accuracy and adherence to policies.
- Conducted annual audits of all underwriters to uphold quality standards and enhance performance.
- Established and developed the scenario department, which has become the standard for assisting sales teams.
- Collaborated with management to effectively manage the rapid growth and acquisition of multiple companies.
Education
Bachelor of Science -
Washington University in St Louis
St Louis, MOMBA -
Washington University in St Louis
St Louis, MOSkills
- Process Improvement
- Cross-Functional Teamwork
- Operations Management
- Cross-Functional Collaboration
- Financial Management
- Executive Leadership
- Departmental Coordination
- Policy and Procedure development
Websites
Timeline
Chief Operating Officer
Paramount Bank (formerly Paramount Mortgage)
02.2019 - Current
Chief Operating Officer
First Alliance
02.2017 - 01.2019
SVP, Credit Policy
Prospect Mortgage
10.2010 - 02.2017
National Underwriting and Operations Manager
Guaranteed Rate
01.2005 - 10.2010
Bachelor of Science -
Washington University in St Louis
MBA -
Washington University in St Louis
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