Chief Credit Officer @ Western Dental & Orthodontics
Co-Owner @ Pacific International CPA
SVP, Consumer Credit Executive @ Bank of America
BS, MS @
A risk management and project development professional with experience in consumer (prime and subprime mortgages , home equity, credit cards), small business, and renewable energy project financing and development. Have extensive risk management and financing experience with proven leadership in renewable energy projects, credit cards, manufactured housing, subprime & prime mortgages and Home Equity products. Have lead
A risk management and project development professional with experience in consumer (prime and subprime mortgages , home equity, credit cards), small business, and renewable energy project financing and development. Have extensive risk management and financing experience with proven leadership in renewable energy projects, credit cards, manufactured housing, subprime & prime mortgages and Home Equity products. Have lead functions in financing, banking, engineering, and construction. Have experience in engineering in both civilian and military settings specializing in project management, construction and contract administration.
SVP, Consumer Credit Executive @ Responsible for FFIEC Chargeoff Process From March 2010 to Present (5 years 10 months) VP, Project Development @ Developing new greentech projects related to ethanol, biodiesel, biomass, solar, and wind. Managing bank and investor funding.
In the process of developing multiple renewable energy projects with budget over $200 million in US and Asia. Actively searching and bidding on distressed asset opportunties in biofuels business in US. From January 2009 to March 2010 (1 year 3 months) SVP, Senior Risk Officer - Subprime, Home Equity and Servicing @ Implemented new underwriting, third party management, and fraud policies to reduce the loss for Subprime loans through extensive data analysis. Had cut the first payment default rate by 80% in 12 months.
Implemented new loan underwriting and third party management policies that was expected cut the future delinquency rate by over 80%. Selectively reduced over $18 billion (over 30%) of outstanding HELOC commitment loan amount through profitability analysis without effecting the deposit amount of the bank customers. This HELOC credit line reduction program had forecasted loss savings over $350 million.
Implemented new collections scores and strategies for the entire WaMu mortgage portfolio (over $200 billion) including champion/challenger processes that saved over $95 million in the first 7 months of the program. Also implemented cash flow maximizing loss mitigation processes to control the foreclosure while reducing the loss to the bank. From August 2006 to August 2008 (2 years 1 month) Vice President - Credit Risk Management @ Created and managed credit risk management group. Implemented SAS, began relationship with MARI on fraud, implemented fraud score, started using LoanPerformance data and models. Built credit risk management database and monthly reporting package. Implemented third party monitoring system. From February 2005 to August 2006 (1 year 7 months) Senior Vice President @ Senior Vice President Credit Risk Management
Developed portfolio performance forecast methods to value portfolio acquisitions. Using these methods played a key part in acquiring over $10 billion of manufactured housing portfolios.
• Developed and implemented the new pricing process for launching new lending programs using the hazard modeling process that predicted not only likelihood of default and prepayment but the timing of the events.
• Revised underwriting SOP with new risk-based pricing strategy; application credit score in matrix with front-end bankruptcy score (cuts based on profitability). These steps had saved over $4 million in the first year and $14 million in the second year of implementation.
• Revamped the repossession refinancing program and improved delinquency performance by 25% and loss performance by 50%. These steps had saved over $16 million in the first year and over $30 million in the second year.
• Restructured the collections loss mitigation policies and process by bringing in the quantitative benchmarking, profitability (cash flow) analysis, and loss mitigation impact on delinquency numbers. Implemented custom bankruptcy scores, one-cycle collection score, foreclosure score, portfolio forecast models (prepayment, delinquency and repossession) and recovery scores for charged-off account management.
• Managed restructuring of lifecycle credit risk management of Transportation Division that financed truck and trailer loans and Equipment (office equipment) Leasing Division. From January 1999 to January 2005 (6 years 1 month) Risk Manager @ Risk Manager for TRIAD, Corporate and Business Cards, and New Ventures
• Conceived and pioneered development and implementation of transaction based risk models.
• Launched and managed risk of commercial card products including Small Business, Corporate, and Purchasing Cards in United States and Canada in a joint venture with Carlson-Wagonlit Travel.
• Completed General Management Training Program from 1992 to 1994 that was designed to develop future leaders through work rotations in all business units and corporate functions. From June 1992 to January 1999 (6 years 8 months) Lieutenant @ Lieutenant, United States Navy Civil Engeer Corp
Officer in Charge of Construction
Officer in Charge Detail Sasebo, Naval Mobile Construction Battalion 3 From June 1985 to August 1990 (5 years 3 months) Lead Structural Engineer @ Designed offshore oil platform in joint venture setting with Flour Engineering in Houston, TX. Lead team of 3 structural engineers. From July 1984 to May 1985 (11 months)
Master of Business Administration (MBA), Finance and Marketing @ The University of Chicago Booth School of Business From 1990 to 1992 BS, MS, Civil Engineering @ Columbia Engineering From 1979 to 1984 Alex Park is skilled in: Renewable Energy, Cleantech, Projects, Ethanol, Biodiesel, Credit, Credit Risk, Risk Management, Portfolio Management, Financial Risk, Financial Modeling, Credit Analysis, Financial Analysis, Due Diligence, Valuation
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