Summary
Overview
Work History
Education
Skills
Websites
Professional Development
Publications & Presentations
Volunteer Experience
Languages
Timeline
Generic

Betsy Colucci

New York,USA

Summary

Demonstrated expertise and success leading credit, research and risk management initiatives within ever-changing credit and capital markets. Trusted financial services executive leading with integrity to deliver a broad range of Capital Markets Credit Investment products and services, within risk appetite, on a global scale. Comprehensive experience to understand multiple perspectives within and across lines of business to build consensus across organizational levels. Known to strategically drive portfolio composition, minimize losses, and improve overall returns. Thought leader in macroeconomic and industry issues impacting ever-changing markets, seeking out diversity of thought and willing to challenge the status quo in pursuit of informed and strategic outcomes.

Overview

21
21
years of professional experience

Work History

Advisory Board Member

CERTIFi by Mercy University
12.2023 - Current
  • Member of the advisory board of the Women in Leadership certificate program at Mercy University
  • Advisor on the curriculum which aims to enhance leadership skills in participants and enable them to use these skills to foster a more diverse, equitable and overall, more positive culture in their workplace
  • Increased Advisory Board effectiveness by providing strategic guidance and insight into industry trends.


Co-Head of N. A Credit, Head of N.A Financial Institutions Credit, GLL

BlackRock, Inc.
10.2018 - 05.2022
  • Credit and Risk Management Executive for global banks and financial institutions (including insurance companies), and North American / European corporates, providing fundamental research, analysis and final decisioning on largest investments / exposures of a USD 750bln+ AUM business
  • Provided research, single name and sectoral views, analysis of fundamental credit and regulatory risk issues and thought leadership on market / macroeconomic outlook to Portfolio Management, Sales, and Risk partners as part of strategic collaboration for loss avoidance and investment return enhancement
  • Unilateral limit and tenor authority for North American FI and European corporate credit investments and repo exposures
  • Created and enhanced credit and investment risk policies to define the risk appetite and document the procedures necessary to maintain it
  • Used analytical research template and cash flow models created, along with financial and accounting review, third party research, macroeconomic data, and management due diligence to draft credit write-ups presented to portfolio management and Credit Committee
  • Maintained continuous monitoring of investments and sectors, providing research updates on any quantitative or qualitative changes to the portfolio or individual investments, commensurate with risk appetite
  • Worked closely with Operations team to improve the effectiveness of investment portfolio controls and testing
  • Kept trading, portfolio management and senior management apprised of any regulatory changes and their impacts on counterparty credit and the cash, securities lending, and repo businesses
  • Sign-off on MRA/GMRA documentation
  • Oversight of all aspects, including credit, structure, regulatory, Board reporting and documentation of BlackRock's ~USD 300bln tri-party repo business globally
  • Prepared materials for external audits, client and Board meetings
  • Attended regular meetings with C level executives of counterparties/issuers as part of due diligence and client management
  • Member of BLK New Products Committee, Cash Management Policy Oversight Committee, Cash Management Credit Committee (quorum member and substitute chair), Cash DEI Committee and Cash VP Promotion Committee

Director, Counterparty Credit, Risk and Quantitative Analysis

BlackRock, Inc.
09.2015 - 10.2018
  • Lead counterparty credit risk manager for G-SIFIs and affiliated broker dealers at world's largest asset manager
  • Provided research, single name and sectoral views, analysis of fundamental credit and regulatory risk issues and thought leadership on market / macroeconomic outlook to Senior Risk and Trading partners
  • Mentored, developed, and managed junior team members through providing training on credit and financial analysis and broader career development topics
  • Created and led a comprehensive, first-of-its-kind presentation to global risk management on changes to bank capital, liquidity requirements and ALM post DFA and Basel 2.5
  • Provided counterparty credit and documentation oversight of global securities lending/stock loan transactions
  • Sign-off on MSLA/GMSLA documentation
  • Built an internal model to derive proxy CDS spreads for Canadian banks. The results were benchmarked to available credit and economic indicators for major global bank peers
  • Attended regular meetings with C level executives of counterparties/issuers as part of due diligence and client management

Sr. Risk Manager / Trading Floor Credit Officer / Regulatory lead

Rabobank
02.2011 - 08.2015
  • Primary US risk manager responsible for FI counterparty credit analysis and ensuring Bank’s ability to understand and comply with trading regulations post DFA implementation, including the clearing of previously non-cleared interest rate and other derivatives.
  • Global lead clearing house analyst. Created a ground-up, bank-wide framework for the analysis of central counterparties for use in analyzing suitability to clear previously uncleared derivatives when this became a requirement under Dodd Frank. Also played an integral role in developing the quantitative monitoring and reporting framework for CCPs and un/cleared interest rate derivatives.
  • Primary credit risk liaison between US Branch and Mexico office. Managed the restructuring and unwind of highly structured transactions and complex derivatives in the Bank's Mexico portfolio to minimize losses on the Bank's legacy level 3 investments
  • Primary US risk manager responsible for ensuring Bank's ability to understand and comply with trading regulations post DFA implementation, including the clearing of previously non-cleared interest rate and other derivatives. Liaised with all areas of the Bank including the C Suite to ensure global regulatory alignment
  • Analyzed, wrote-up and coordinated credit approval of all annual reviews, including internal credit ratings, new requests and exceptions for the North American FI and large corporate counterparty portfolio
  • Executed portfolio analysis (PFE and MTM/CE analysis) to address netting rights, setoff, remediate derivative limit excesses, counterparty / legal entity, and parent issuer level concentrations, identify grounds of outsized exposure movements, and enhance risk methodologies for traded products (OTC and listed IRS, FX, commodities, securities lending and repo) with FIs and large corporates to maintain exposure within limits
  • Aligned policy and credit/risk appetite by working with sales and legal to negotiate terms of ISDAs and CSAs with FI and corporate customers; ensured alignment of derivative documentation with any existing loan facilities
  • Reviewed and approved CSAs for sufficient margin /haircuts and appropriate collateral
  • Harmonized internal clearing house approvals (written analysis), developed market risk model and limit methodology, communicated CCP's regulations and risk requirements (including margin requirements) to all relevant parties, and facilitated the bank in obtaining CCP's membership approval
  • Reviewed and approved Asset-Backed Commercial Paper (ABCP) structured transactions for inclusion in the Bank’s conduit

Lead credit officer for bank's structured total return swap (TRS) book

Bank of America
08.2006 - 02.2010
  • Lead credit officer for bank's structured total return swap (TRS) book, a USD 25bln book of bilateral CLO investments facing hedge funds, PE managers and insurance companies. The business exceeded revenue targets, earning USD 150mln in its least profitable year, and maintained credit losses at zero through the 'six sigma event' in the leveraged loan market in 2007 and during the period of extreme stress that followed
  • Redesigned and project managed the redevelopment of the TRS business risk and reporting system. The fixes and improvements achieved were integral to portfolio exposure and loss mitigation, excess concentration identification across a variety of metrics and preventing senior management from shutting down the business during the GFC
  • Developed models and methodologies for quantitative assessment of the leveraged loan assets of hedge funds, PE firms and insurance companies in the form of TRS/SERVES programs in collaboration with market risk and credit analytics groups
  • Worked with credit analytics to develop and periodically stress test rate and price assumptions driving the OTC loan trading model underlying the TRS/SERVES book risk managed
  • Interim manager for 100+ Middle Office operations collateral and limits reporting personnel in US and London
  • Rewrote derivative trading policies and procedures to adapt with changing market conditions and new product proposals
  • Credit officer for BoA’s mortgage conduits
  • Directed bank and FI credit and coverage colleagues on the required terms of derivative products and integration into documentation
  • Oversaw the pricing and restructuring or unwinding of OTC interest rate and FX trades with defaulting counterparties (level 2 assets requiring active solicitation of bids from market makers)
  • Reviewed and risk managed highly complex structured investments which were “orphaned” after the BoA/ML merger; tracked down and reviewed all documentation available, and reassessed risk methodologies applied to these level 3 assets

Associate, Corporate & Investment Banking/Sports

Société Générale
10.2005 - 08.2006
  • Analyzed financial statements and market data to underwrite credit proposals for large (eight and nine figure) credit facilities for professional sports franchises including LBOs and leveraged, syndicated, private credit facilities providing funds to the teams for other purposes
  • Analyzed financial statements and other accounting data, including cash flow models, for professional sports franchises and arenas
  • Worked with sales group to structure LBOs, credit facilities and set terms including financial covenants
  • Prepared credit underwriting memos, including financial analysis and industry and economic research, which were presented to Bank's internal risk group and served as basis for syndication memos
  • Conducted all credit administration and monitoring, including the use of internal credit rating models and profitability models
  • Served as intermediary between client and lender group for syndicated transactions

Ratings Analyst, Asset Backed Securities

Fitch Ratings
07.2003 - 10.2005
  • Most prolific ABCP ratings analyst on the team, reviewing and bringing the most complex and diverse structured transactions before the ratings committee
  • Primary analyst for several single and multi-seller Asset Backed Commercial Paper programs
  • Maintained relationships with issuers and sponsors (large international banks, insurance companies and corporations)
  • Analyzed structure, credit enhancement and triggers of structured transactions backed by multitude of asset types including: residential MBS, credit cards, student loans, CDOs, trade receivables, consumer loans, auto lease rental programs, insurance premium finance loans, subscription loans, credit linked deposits and others
  • Reviewed performance data, all legal documentation, including asset and liquidity agreements, and marketing materials, including offering documents and pitch books, in order to write credit memos
  • Assigned ratings to new programs and confirmed existing ratings based on program amendments and addition of new transactions as requested
  • Prepared press releases and issuer reports in response to assignment of new ratings or confirmation of existing ratings, as necessary
  • Used financial model to provide default assumptions to student loan backed bond issuers and analyzed the resulting cashflows

Education

Bachelor of Science - Managerial Resource Economics

University of Massachusetts
Amherst, MA

Bachelor of Science - Sport Management

University of Massachusetts
Amherst, MA

Certificate in Spanish - Intermediate fluency

Skills

  • Strategic Thinking
  • Leadership Experience & Team Development
  • Quantitative & Qualitative Analysis
  • Policy Development & Implementation
  • Risk Models & Methodologies
  • Regulatory Policy Analysis & Implementation
  • Documentation Structuring & Negotiation
  • Operations & Project Management
  • Asset Liability Management
  • Risk Technology & Infrastructure
  • Complex Capital Markets Products & Services
  • Strategic Portfolio Management

Websites

Professional Development

  • Team Development and Training − BlackRock, Inc.
  • ESG Analysis and Integration - BlackRock, Inc.
  • Dodd Frank and Basel regulation and CCP analysis− Rabobank, Inc.
  • Portfolio Management - All
  • Excel and MS Office proficiency - All
  • Bloomberg - BoA and BlackRock
  • Formal Credit Training - Morgan Stanley (Instructors and curriculum from Chase Bank training model)

Publications & Presentations

  • Private Credit US Leadership Summit, Tools and techniques to streamline investment decision making and ongoing portfolio monitoring, featured panelist, 06/2023
  • Moody's North American Banking Series, The Outlook for ESG, panelist, 10/2021
  • A Market Feasibility Study and Preliminary Business Plan for the Proposed Organic Cranberry Cooperative, 1999, Funded by a federal grant and written in conjunction with faculty at UMass, Amherst.
  • The Financial, Economic, Social, and Political Impact of Quantitative Easing in the United States, 2016, Market industry expert contributor to Columbia University Graduate study written for US Treasury.

Volunteer Experience

  • American Corporate Partners, Veteran Mentorship Program, 2016, 12/2021
  • Queens Community House, Candidate for Board Membership, 2019, present

Languages

Spanish
Professional Working

Timeline

Advisory Board Member

CERTIFi by Mercy University
12.2023 - Current

Co-Head of N. A Credit, Head of N.A Financial Institutions Credit, GLL

BlackRock, Inc.
10.2018 - 05.2022

Director, Counterparty Credit, Risk and Quantitative Analysis

BlackRock, Inc.
09.2015 - 10.2018

Sr. Risk Manager / Trading Floor Credit Officer / Regulatory lead

Rabobank
02.2011 - 08.2015

Lead credit officer for bank's structured total return swap (TRS) book

Bank of America
08.2006 - 02.2010

Associate, Corporate & Investment Banking/Sports

Société Générale
10.2005 - 08.2006

Ratings Analyst, Asset Backed Securities

Fitch Ratings
07.2003 - 10.2005

Bachelor of Science - Sport Management

University of Massachusetts

Certificate in Spanish - Intermediate fluency

Bachelor of Science - Managerial Resource Economics

University of Massachusetts

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Betsy Colucci