Mark Douglass is a successful structured finance credit professional that has excelled in a variety of capacities at eve...
MARK C. DOUGLASS Home: (914) 533-5590 Cell: (914) 772-2285
[email protected]
South Salem, NY 10590
SUMMARY I am a successful structured finance credit professional that has excelled in a variety of capacities at ever-increasing levels of responsibility. I have traded, rated, structured, analyzed and invested in many different asset types including all forms of RMBS, consumer and commercial ABS, derivatives, CDOs, and esoteric asset structures. In addition, I have successfully managed credit, research, modeling, underwriting, and portfolio management groups in the domestic and international markets. I have been actively engaged in securitization on the buy- and sell-side, which has provided me with a broad perspective of structured finance and the broader capital markets.
PROFESSIONAL HISTORY First Sustainable, LLC
2010-Present
This LLC is a renewable energy securitization advisor and investment bank that focuses on using securitization technology to meet the funding needs of project finance transactions. Chief Financial Engineer Directly accountable for all securitization matters within the company Primary liaison with all deal parties such as rating agencies, investment bank, legal advisor, technical advisor, insurance agent and any other pertinent parties associated with a transaction Responsible for development of financial models used in deal structures Negotiate terms and conditions with our funding investment bank and all other aspects associated with a start-up Primary contributor – along with the CEO and CFO – for negotiating all terms for the funding of 50MWs of photovoltaic utility plants in Italy Currently creating new financing template for commercial building retrofit securitization
Consultant
2008 - 2011
I perform independent consulting services with a focus on structured finance asset valuation methodologies, structures and credit ratings. Principal Control Officer for Bank of NY Mellon analyzing distressed structured finance deals including RMBS, Life Settlements, and EMEA CDOs as a full-time contractor on assignment and on-site at BNYM headquarters Chosen by a top Australian law firm for a highly competitive consulting assignment to provide a valuation study of U.S. structured finance RMBS CDOs held by a large Australian bank Performed an audit of the RMBS extraordinary expenses incurred, but not billed, by a top commercial bank trustee and was able to support a total billable amount of over $46 million from 2008 until the present
Sunrise Securities, New York, NY
2009-2010
Sunrise was a broker-dealer that focused on MBS, CDOs, CMBS, ABS, high yield and bank recapitalization. Managing Director, Strategist Head of ABS/RMBS/CMBS Research for the trading desk Created a very successful daily research report for clients called the “Daily Color Sheet” which focuses on the regulatory, accounting and economic impact of on-going changes within structured finance Chosen by senior management to lead the daily trading meeting/call due to broad knowledge of many asset types and market sector
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Acted as key consultant for our asset and portfolio valuation affiliate, Optimal Asset Solutions LLC, and was directly and solely responsible for the first revenue source within the group Created the research template for the bankers within the Bank Recapitalization Group that compares the target bank versus all local, state and national peers Provided developmental leadership for the planning and implementation of the RMBS valuation/trading and the heuristic CLO pricing models that were used by Optimal Asset Solutions and the RMBS trading desk
NewStar Financial, Darien, CT
2006 – 2007
This was a specialty finance company with a focus on structured finance solutions for small and mid-size companies and investments in low- and below-investment grade risk securities. Managing Director, Portfolio Manager for Structured Products Group Head of Portfolio Management responsible for the entire SPG portfolio Oversaw approximately $200 million in the securities portfolio and $195 million in the in-house structured direct portfolio In charge of all credit risk analysis for HEL, NIMs, CES, HELOC, Lot Loans, Scratch and Dent, Aircraft Leasing, Credit Cards, Autos and CDOs as part of the securities portfolio Directly responsible for managing and performing all credit risk analysis for the direct portfolio – which is comprised of assets in which we have done all of the sourcing and structuring – and which included structured insurance premiums loans, equipment leases, venture capital loans, aircraft engine leases, elective surgery loans and unsecured consumer loans Provided structuring advice and guidance for all transactions in the direct portfolio which included determining relative risk levels (tranche sizing) and establishment of credit triggers Responsible for the on-going monitoring of each purchased investment which included a bi-monthly portfolio review and bi-weekly problem credit watch-list review presentation to the Chief Investment Officer and Chief Credit Officer
Fitch Ratings, New York, NY
2004 – 2006
Senior Director, Head of RMBS Research and Modeling Team Leader of RMBS Ratings and Credit Policy Liaison Produced many research publications for the RMBS group, and oversaw development of all others. Responsible for all aspects of the research and quantitative modeling functions within the RMBS group Lead manager for credit rating analysts in Subprime, Prime and Alt-A mortgage sectors Functioned as RMBS credit risk officer liaison with company-wide credit policy board In charge of RMBS predatory lending initiative Frequently presented issues of credit concern at industry conferences Managed 11 employees: 7 rating analysts, 3 quantitative modelers and 1 researcher
Security Guaranty Holdings, Inc., Stamford, CT
2002 – 2004
This was a start-up mono-line insurance company. Senior Managing Director, Chief Underwriting Officer Global Head, Structured Products Underwriting Developed underwriting guidelines, including cash flow and synthetic CDOs, as well as the structured products portion of the strategic business plan Built pricing matrix for all ABS products for domestic and international markets, met with potential investors as ABS and derivatives expert, and identified synergistic business initiatives with and for potential investors Developed strategic objectives for structured products group
Gen Re Securities, New York, NY
1997 – 2002
Gen Re Securities was a global derivatives subsidiary of General Reinsurance Corporation that specialized in long-dated swaps and that generated $63 million profit on $250 million revenue. The parent company was acquired in 1998, and the new owner (Berkshire Hathaway) subsequently closed the securities subsidiary in 2002.
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Director, Asset-Backed Securities and RMBS Credit Vice President
2000 – 2002 1997 – 2000
Responsible for all activities involving credit risk aspects of derivative use (swaps, caps, floors, and CDS) within global term ABS and RMBS deals Primary decision-maker for credit risk issues for all structured finance transactions Negotiated with domestic and international clients, issuers and underwriters Developed and established innovative standards for structured finance deals, and secured rating agency approvals
Moody’s Investors Service, New York, NY
1995 – 1997
Senior Analyst, ABS Structured Finance Group Accountable for all features of the credit risk process including structural, cash flow and legal analysis Analyzed derivative issues with various swaps such as “repackaged” securitizations Provided guidance to junior analysts through mentoring program Published reports and delivered presentations on issues of significance to the ABS market Analyzed contemporary structural innovations in the ABS market such as, zero coupon deals, currency swaps, a short-term “CP-like” certificate program, and a credit card medium-term certificate program Selected as lead analyst for some of the largest and most creative issuers in the ABS market such as, Citibank, Household and AT&T
Bear Stearns & Co, New York, NY Mortgage Department
1989 – 1995
Vice President, Head of ABS Trading Desk ABS Trader CMO Trader
1993 – 1995 1991 – 1993 1989 – 1991
Chosen as one of two traders for initial start-up team that established the ABS trading desk Directed all aspects of primary and secondary trading including hedging and marketing Syndicate manager on all new public and private (144A) issues Primary role in secondary trading, marketing and hedging of diverse asset types such as, automobile, credit card, boat and RV asset-backed securities Responsible for all secondary trading Helped propel Bear Stearns from unranked to fourth place within two years on IDD’s Asset-Backed Underwriter’s list as ranked by lead-managed deals
MILITARY U. S. Air Force Captain, Engineering Officer Engineering Group, US Space Command
1983 – 1987
Chief of Engineering Design Design Engineer
1986 – 1987 1983 – 1986
Managed all design projects on base including construction and staffing. I was in charge of the architectural and structural design of multi-faceted commercial buildings.
EDUCATION University of Chicago Chicago, IL
M.B.A, Finance Concentration, Statistics and Econometrics
1989
Washington University St. Louis, MO
B.S., Engineering Four-year Air Force ROTC Scholarship
1983
