Achievements
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- $14.8 billion total issuance through PRICOA Global Funding I program developed by transforming the funding agreement insurance product into 144A securities available in multiple currencies using issuance activity of fixed / floating rate notes in multiple currencies.
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- $3 billion in asset and liability cash flow mismatches eliminated by pioneering funding agreement issuance to meet portfolio management needs to strengthen cash flow management across the investment segment.
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- $3.5 billion total issuance financial retail notes offering created by leveraging the PRICOA global funding I technology with issuance including bullet / amortizing / callable maturities and fixed rate / floating rate / CPI indexed coupons.
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- $1 billion total issuance optimal performance realized by developing a credit enhanced separate account product.
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- Improved product profitability and business decisions by developing a comprehensive quarterly pricing model to illustrate transaction economics throughout the life of an investment strategy.
- Facilitated market penetration by applying GIC pricing and underwriting expertise to the relaunch of the synthetic GIC offering in receptive markets.
- Broadened market expansion potential by developing new a modular synthetic GIC contract form to accommodate non-participating features.
- Guided the re-entrance to the non-qualified GIC marketplace by developing a new modular funding agreement contract to accommodate additional client flexibility.
- $20 billion in product lines optimized by driving a merger of three separate general account investment segments to experience more efficient portfolio management.
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- Established the Investment Only Stable Value cross-functional team to support the GIC and Funding Agreement businesses as Prudential Retirement re-oriented to a center of excellence management structure.
- $1.5 billion of corporate liquidity created by replacing existing funding agreements with product issued to the Federal Home Loan Bank of New York.
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- $29.1 million annual adjusted operating income by comprehensive management of asset and liability portfolios and rigid control of related business expenses.
- $2 million potential cost of funds decrease achieved by increasing the investor base through introduction of the PRICOA global funding I offering to the European markets using two multi-country investor road shows.
- Reduced the ultimate cost of funds by leading investor outreach for the funding agreement note issuance program, meeting with 50+ potential investors nationwide at quarterly road shows.
- Sustained positive SEC relations during the investigation of questionable broker / dealer activity in the secondary retail notes market by articulating the official position on exercising the survivor put option embedded in the issuance of retail notes.
- Strengthened liability management by sponsoring the replacement of a proprietary liability management system with a third-party debt management system that interacted directly with the general ledger.
- Upgraded eight corporate function and centers of excellence processes by implementing a comprehensive procedure for funding agreement note issuance.
- $15 billion issuance approved by spearheading the internal process for the funding agreement note issuance program approval through internal gatekeepers and oversight committees, ultimately resulting in a board resolution.
- Deepened senior executive awareness through the preparation and presentation of quarterly financial performance for GIC / Funding Agreement product lines.
- $10 million in operating income produced by issuing funding agreement backed notes to global investors denominated in Canadian Dollars (CAD) after a road show and leveraging the Merrill Lynch relationship in the Maple Bond market.
- $10 million in operating income generated through issuance of funding agreement backed notes to global investors denominated in Swiss Francs (CHF) gained by leveraging the relationship with Credit Suisse.
- Optimized relationships with 13 named investment banks including Bank of America Merrill Lynch, Barclays, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, Jefferies, JP Morgan Chase, Morgan Stanley, UBS, US Bank and Wells Fargo in the note issuance space.
- Managed the regulatory approval process for PACE GIC, developing a strong relationship with the Arizona insurance department, resulting in a request to present on the product line for staff development purposes.
- $4 to $5 billion annually in contract negotiations, liability valuation and pricing negotiations managed to secure the best pricing and profitability results for each transaction.
