PAUL HENNESSEY
Crescent Springs
Summary
Dynamic leader with extensive experience at Morgan Stanley, driving mortgage operations and enhancing client satisfaction scores by 9%. Expert in strategic business planning and risk management, successfully managing teams of up to 500. Proven track record in compliance and operational excellence, delivering exceptional results in high-pressure environments.
Overview
32
32
years of professional experience
Work History
Delivery Head NA | Head of Mortgage Operations
TCS / MORGAN STANLEY PRIVATE BANK
12.2020 - Current
- Manage all onshore and offshore (Chennai, Philippines, Pune, Cincinnati, Dallas) mortgage operations, including end to end operation functions processing, closing, third party services, funding, post closing, disclosure desk, and servicing.
- Lead teams from 200 to 500 with annual P&L of $50MM.
- Implemented new policies and procedures aligned to Morgan Stanley's portfolio requirements ensuring efficient delivery of products and services to the clients.
- Designed a Quality Control/Assurance team programmed to improve output and incorporate compliance requirements. Since inception, quality measurements improved from 33% error rate to 2% with a threshold of 5%.
- Re-designed process model to drive efficiency, reduce cycle times to close loans on time, and changed behaviors to increase productivity. Increased client satisfaction experience scores from 87% to 96%.
- Exceeded volume/units YOY forecast and 2024 funded over $15B in mortgage volume. Funded over $55B since 2020.
- Managed audit controls to mitigate risk on portfolio guidelines, maintaining exceptional credit rating while supporting balance sheet growth.
- Assisted in the Loan Sale of 1700 units within a 6-month period creating a capital infusion to the organization.
- Implemented a new operating dashboard with our IT department providing visibility on productivity, improving operational processes, reporting key performance indicators and contractual deliverables.
- Established operational excellence and set objectives for core leadership team to achieve strategic milestones and foster career growth opportunities.
- Champion the culture and facilitated leadership quality to develop succession bench strength through mentoring and coaching reflecting in associate's appraisal reviews.
- Customer experience ratings increased 35 basis points based upon overall process improvements to the business unit.
Managing Director | SVP Private Bank Lending | Officer
FIFTH THIRD BANK
11.2012 - 12.2020
- Portfolio servicing with risk assessments ensuring safe business practices.
- Build out product suites for newly designed programs and pricing.
- Directed operations managers overseeing 26 direct reports (underwriters, processors, and closers) to meet departmental goals and achieve plan requirements.
- Represented fulfillment at Executive leadership level in Wealth/Asset Management LOB developing strong working relationships across all Private Bankers, Investment/Wealth/Trust Advisors, Portfolio Managers, Regional Presidents, Managing Directors, and Mortgage Consultants to deliver distinctive execution for the Bancorp and Clients.
- Managed audit controls to mitigate risk on portfolio guidelines with an overall exceptional credit rating while growing balance sheet/portfolio.
- Designed models, products, training, and processes to capture assets under management (AUM) through internal channels, driving growth in Private Bank/Wealth channels with pricing incentives and marketing strategies.
- Exhibited Best in Class customer service with KPI/OSAT scores ranking at the top within the Bancorp delivering results and expectations to the clients.
- Executed exceptional results and execution contributing to the profitability of the Bancorp along with being rated as one of the Best Private Banks in the USA.
- Developed cross-functional relationships to solve key initiatives to gain a broader perspective with compliance, finance, legal, human resources and credit risk.
President/CEO
HFG, INC.
01.1994 - 11.2012
- Founded high net worth private lending company, creating 50th Fastest Growing Company in America in 1997. Successful exit in 2007 to investment group.
- Led fulfillment and production offices located in 6 states (KY, IN, OH, FL, UT, MN) increasing volume each year in retail revenue 12%, wholesale revenue 33%, with annual sales exceeding $5B.
- Served high net worth clients and entities, managing projects to align with strategic and operational objectives.
- Oversaw 14 direct and over 50 indirect support teams providing efficient and effective service to customers.
- Established relationships with equity firms, capital groups, financial institutions, and private trusts to mitigate losses from defaults.
- Maintained and reviewed existing portfolio for credit risk mitigation with fundamental knowledge with FHLMC, FNMA, FHA, USDA, and VA underwriting guidelines in accordance with Federal and State regulations.
- Managed relationships with consumer, mortgage, and commercial lending to enhance service delivery and client satisfaction.
Education
Northern Kentucky University
Highland Heights, KY01-1987
University of Kentucky
Lexington, KY01-1985
Skills
- Mortgage operations
- Regulatory Compliance
- Financial Reporting
- Risk Analysis
- Risk management
- Asset & Project Management
- Business Operations
- Performance monitoring
- Process Improvement
- Strategic Business Planning
- Team leadership
- Cross-functional coordination
- Effective communication
- Client Relationship Management
- Relationship Management
- Relationship management
Skill Areas
- Strategic Business Planning
- Asset & Project Management
- Business Operations
- Compliance Insurance
- Financial Reporting
- Risk Analysis
- Relationship Management
- Customer Service
Key Strengths
Lead 200-500+ distributed, global teams driving transformation and innovation for Morgan Stanley's mortgage and private lending operations., Turned around unprofitable $2B assets, direct to consumer lending business. Constructed a new customer engagement model improving customer cycle time 3x, increased new account conversion 25% and improved productivity 10%., Accelerating the adoption of digital technologies to streamline processes, improve efficiency, and enhance customer experience., Championed data driven go to market sales and credit strategy, improving market share and application penetration with top 20% of customers by 2x vs control group, reducing policy exceptions by 50%.
Timeline
Delivery Head NA | Head of Mortgage Operations
TCS / MORGAN STANLEY PRIVATE BANK
12.2020 - Current
Managing Director | SVP Private Bank Lending | Officer
FIFTH THIRD BANK
11.2012 - 12.2020
President/CEO
HFG, INC.
01.1994 - 11.2012
Northern Kentucky University
University of Kentucky