Erin Bailey
Ponte Vedra,FL
Summary
JD/MBA Executive Director driving multiple teams to identify and mitigate operational and regulatory compliance risk. Management leader experienced with multimillion dollar business operations involving budgetary, marketing, and regulatory compliance responsibility and disposition of complex business assets. Experienced bank counsel focused on mortgage lending, structured finance, regulatory compliance, litigation management, and corporate governance. Exceptional strategic vision and leadership skills with systematic approach to organizing information and prioritizing work. Well established ability to render critical legal and business analysis and collaborate with key players to obtain desired results.
Overview
27
27
years of professional experience
1
1
Certification
Work History
Executive Director
USAA Federal Savings Bank
10.2021 - Current
- Driving risk mitigation Manage multiple teams Drive a consistent approach to identify, assess, manage and report operational risk events across multiple teams
- Develop key quantitative metrics and analytic capabilities to monitor risk
- Identify business processes for automation and engage implementation.
- Championed diversity, equity, and inclusion efforts within the organization to create a more inclusive work environment.
- Maintained P&L and shouldered corporate fiscal responsibility.
- Managed a diverse team of professionals, fostering a collaborative work environment for increased productivity.
- Evaluated program outcomes using data-driven metrics, identifying areas for improvement and implementing targeted interventions.
- Established and maintained strong relationships with customers, vendors and strategic partners.
- Oversaw business-wide changes to modernize procedures and organization.
- Developed and implemented organizational strategies to achieve set goals and objectives and secured long-term success.
- Aligned department vision, goals, and objectives with company strategy to achieve consistently high results.
- Negotiated contracts with vendors, securing favorable terms while adhering to budgetary constraints.
- Directed technological improvements, reducing waste and business bottlenecks.
- Fostered work culture of collaboration and inclusion to increase morale and reduce turnover.
- Increased organizational efficiency by streamlining processes and implementing new systems.
- Guided staff through periods of organizational change, maintaining morale and engagement during transitions.
- Monitored key business risks and established risk management procedures.
- Established performance benchmarks for each department in alignment with the organization''s strategic priorities.
- Monitored industry trends closely enabling the organization to stay ahead of emerging challenges or opportunities.
- Developed strategic partnerships with key stakeholders to expand the organization''s reach and influence.
- Defined company roles and responsibilities to establish and enhance processes.
- Proved successful working within tight deadlines and a fast-paced environment.
Executive Director
JPMorgan Chase
12.2016 - 10.2021
- Manage multiple teams in Community and Affordable Lending, Capital Markets, Correspondent Lending, Collateral Valuations, Fair Lending, CRA and Tax Oversight
- Drive a consistent approach to identify, assess, manage and report operational risk events across multiple teams
- Develop key quantitative metrics and analytic capabilities to monitor risk
- Identify business processes for automation and engage implementation
- Provide responses, guidance, and strategy with respect to OCC, CFPB, FRB and other regulatory reviews and internal audits
- Present to Regulators on risk/control environment
- Member of cross-business forums providing feedback including Material Risk Inventory, Affordable Lending, HMDA, Fair Lending, Agency Relations, Securitization and Secondary Marketing
- Engage with management to assess portfolio management, secondary market best execution, and MSR valuation activity
- Participate in agency relation activity and monitor for broader cross business impact
- Member of agile team providing risk and control guidance at every stage of product iteration with respect to new product initiatives, including affordable lending, digital, synthetic, and alternative valuation products
- Ensure strategic initiatives are implemented with appropriate governance and controls
- Member of the New Business Initiative Assessment team to review initiatives and prepare assessments capturing operational, regulatory, and reputational risks and requiring build out of controls to mitigate risk
- Participate in control committees, business reviews, firmwide affordable lending groups providing focused analysis and insight into business risk, controls, metrics, and initiatives
- Developed new framework to monitor fair lending high-risk markets, working with compliance, legal and business
- Lead KRI discussions regarding high-risk fair lending markets
- Assist with planning, preparing materials and conducting business inherent risk reviews, including the Home Lending fair lending risk assessment
- Identified need to compile end-to-end process review and risk analysis for fair lending, HMDA, affordable lending, CRA, data integrity, pricing, and MSR activity
- Worked across multiple business areas to add needed controls
- Upon issue identification and assessment, design timely and holistic corrective action plans and ensure milestones are met and resolution activity is substantiated
- Issues are assessed for cross business, financial, customer harm, and regulatory impacts
- Working with Executive leaders and managers within the organization to develop a culture that fosters self-identification of business and operational issues
- Lead a team to respond to OCC, CFPB, FRB and other third-party regulatory reviews and requests across multiple lines of business focused on, but not limited to, mortgage origination and servicing, credit card practices, fair lending, compliance management, complaints, SCRA, valuations, and capital markets
- Manage a team to respond to non-regulatory Mortgage Bank exams and requests
- Research federal laws, investigate examiner procedure manuals, and review past exam findings to ascertain exam focus and scope and formulate exam strategy
- Manage a team that aggregates relevant risk information for each regulatory/non-regulatory exam and communicates areas of potential concern to senior management in advance of exam commencement
- Information consists of internal audit results, compliance findings, fair lending matters, complaint trends, QA/QC results, legal obligations, Risk and Control Self Assessments and past exam findings
- Review policies and procedures related to exam scope and determine business adherence, identify control breaks and disclose breaks to risk and controls to triage as necessary
- Provide reporting to executive and senior management as to exam status, identified issues, perceived regulatory risk and proposed strategy
- Manage team that supports Home Lending rating agency relationships and ongoing servicing, originator and ad hoc requests
- Lead due diligence efforts to support issuance of 10(b)(5) opinion and review securitization documents and related marketing material
- Managed exam team that owns Regulation AB compliance reporting, Chap
- 6 and 7 HUD compliance reporting and the Agency/HUD annual recertification process
- Conduct independent research regarding technology risk and information security best practices
- Maintain constant awareness of new and amended regulations and assess respective impact on assigned areas
- Assist in implementing changes to products, services, systems and operations to maintain compliance
- Develop and foster constructive professional relationships with multiple disciplines and line management
- Attract, develop and lead exceptional talent.
Counsel
Federal Deposit Insurance Corporation
11.2009 - 10.2013
- Managed attorney group that advised business clients on compliance issues and complex transactions and analyze impact to business cost center
- Establish and maintain effective relationships among FDIC, lenders, auditors and other third parties
- Assisted with determining lender audit scope
- Participated in lender audits and provided legal and business analysis on compliance and contractual obligations and liability
- Assisted with the coordination of business team, lender and auditor to review and clear audit findings
- Provided research and analytical data regarding compliance management and effectiveness of lender risk controls
- Researched and advised on regulatory and compliance matters with regard to federal and state laws and FDIC regulations/directives governing residential and commercial real estate lenders, vendors, and audits, including HIPAA, HAMP, RESPA, TILA, USPAP, FDCPA, GLBA, SCRA and Dodd-Frank
- Minimized transaction costs to FDIC by orchestrating accelerated closings of a $30MM condominium project and $27MM commercial property in a difficult economic climate while limiting the risk exposure of the FDIC
- Negotiated and drafted the sales contracts and all closing documents
- Identified and cleared title issues
- Assisted with survey matters
- Provided legal and business guidance with regard to the properties’ budget and marketing plan, compliance management and general operations pre-closing
- Designed and mobilized a creditor of a FDIC mortgage loan originator/servicer subsidiary to accept a settlement that reduced a FDIC $3.7B loan repurchase contingent liability to $15MM
- Mitigated FDIC risk and augmented FDIC’s return on a multi-million dollar asset sale of a financial service company by successfully crafting and negotiating an amendment to the asset purchase agreement, which was executed prior to FDIC obtaining the company, resulting in a reduction of risk exposure for the FDIC without causing the break up of the transaction
- Drafted all closing documents that eliminated need for outside counsel
- Maximized FDIC return on over $100MM in commercial, residential, agriculture and student loan sales by eliminating the need for outside counsel, while effectively managing the sale process by creating a task list and timeline for the closings and organizing internal business clients, financial advisors, servicers, and buyers resulting in successful and efficient consummated transactions
- Determined maximum return and least cost to FDIC with regard to multi-million dollar portfolios of owned real estate by administering sound legal and business cost/benefit analysis to determine how to divest of assets considering a multitude of decision inputs such as asset condition, asset location, and pending litigation
- Participated in multi-million dollar real estate auctions across Florida and Georgia, as well as large commercial property bulk sales
- Analyzed various legal issues relating to assets balancing same with the business needs of clients
- Provided comprehensive and timely opinions to business clients allowing them to achieve desired actions
- Efficiently managed outside counsel and monitored fee bills with regard to an extensive portfolio of real estate and lender liability related litigation.
Assistant Vice President/Counsel
Fidelity National Title Group
02.2009 - 11.2009
- Researched applicable state law and insurance principals to determine merit of title insurance claims
- Successfully negotiated settlements or found other resolutions to title insurance claims that saved the company multi-thousands of dollars by mitigating claim cost, litigation cost, and outside counsel fees
- Prepared in-depth claim resolution strategy for over two hundred claim matters
- Managed outside counsel’s litigation plan and budget and determined strategy for same
- Led aggressive recoupment efforts resulting in multi-thousands of dollars returned to the company.
Independent Contractor
01.2004 - 01.2009
- Negotiated Physician Recruitment Agreement and ancillary practice and finance documents.
Corporate Counsel
United Student Aid Funds, Inc.
01.2000 - 01.2003
- Managed a team of employees to provide the operational, financial, and marketing functions of a state designated secondary market subsidiary, which purchased loans from lenders/institutions and issued tax-exempt debt secured by student loan paper
- Routinely reported to executive management with regard to subsidiary business operations
- Created subsidiary revenue increase of 150% (2000 to 2002) by obtaining tax-exempt bond cap from the State of Hawaii and issuing $75MM in tax-exempt bonds
- Successfully sought out and negotiated loan purchase agreements with lenders in order to garner steady stream of student loan paper to securitize
- Negotiated a $30MM annual outsourcing contract for origination fee and default loan services
- Drafted a $1.8MM customer relationship management system contract and a $1.1MM e-learning platform system contract eliminating the need for outside counsel
- Drafted, negotiated and reviewed various contracts that eliminated outside counsel fees, including: marketing agreements, software license/hardware purchase and maintenance agreements, independent contractor agreements, outsourcing and servicing agreements, vendor agreements, real estate leases, and trademark licenses
- Lead counsel for the company’s human resource department and was responsible for: drafting affirmative action plan; reviewing and revising employee benefit plans (self-funded health plan; 401(k) plan; cash balance pension plan, flex spending, bonus plan); drafted HIPPA notices and educated HR personnel as to requirements; monitored compliance with HIPPA; drafted employee handbook and business conduct policy
- Negotiated third party administration and re-insurance relationships for benefit plans
- Analyzed and reported company insurance coverage needs to executive management and negotiated all corporate insurance policies
- Managed the corporate intellectual property portfolio consisting of numerous trademarks/copyrighted materials
- Member of company’s Investment Committee in charge of investing over $200MM
- Provided valued business and legal analysis with regard to strategic planning and diversification efforts, specifically as to joint venture/merger/acquisition target options
- Monitored Higher Education Act regulations and reauthorization proposals to determine impact to company and reported to executive management
- Managed corporate governance matters, including drafting meetings materials, resolutions, minutes and acted as liaison with board of trustees and management.
Corporate Attorney
USA Group, Inc.
01.1997 - 01.2000
- Assisted with $700MM asset purchase of USA Group by Sallie Mae (conducted due diligence; reviewed purchase documents; prepared schedules to purchase agreement)
- Lead legal counsel on business initiative to implement private student loan program (prepared letters of intent; drafted application/promissory notes; prepared lender participation agreements; collaborated with outside counsel to complete 50 state compliance review with regard to promissory notes; advised on Regulation B, Regulation Z, and Fair Credit Reporting Act)
- Prepared SEC shelf registration filings and consummated multi-million dollar security sales secured by student loans
- Assisted with formation of collection agency to maximize recovery on defaulted loans
- Drafted inter-company credit facility agreements as between the company and its various subsidiaries
- Negotiated independent contractor and IT software, service and hardware contracts
- Consummated merger/acquisitions of affiliate and outside entities and drafted documents for same
- Corporate Governance - Traveled with the Board of Directors to various destinations for board meetings
- Prepared material for meetings
- Attended meetings
- Drafted meeting minutes and maintained corporate minute books.
Education
MBA -
Kelley School of Business
J.D. -
Indiana University School of Law
Skills
- Program Leadership
- Negotiation
- Stakeholder Management
- Revenue Growth
- Regulatory Compliance
- Articulate Communication
- Analytical and Critical Thinker
- Corporate Governance
Certification
Wharton School of Business Artificial Intelligence Certificate
Timeline
Executive Director
USAA Federal Savings Bank
10.2021 - Current
Executive Director
JPMorgan Chase
12.2016 - 10.2021
Counsel
Federal Deposit Insurance Corporation
11.2009 - 10.2013
Assistant Vice President/Counsel
Fidelity National Title Group
02.2009 - 11.2009
Independent Contractor
01.2004 - 01.2009
Corporate Counsel
United Student Aid Funds, Inc.
01.2000 - 01.2003
Corporate Attorney
USA Group, Inc.
01.1997 - 01.2000
MBA -
Kelley School of Business
J.D. -
Indiana University School of Law
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