David Farrer Email & Phone Number

Guildford Surrey

Provider of residential mortgage management consultancy services.

London, United Kingdom

I commenced working for Arbuthnot Latham as a consultant, transferred to permanent staff and then back to being a consultant as my role developed. Throughout, I was responsible for the post-completion performance (servicing and arrears management) of two acquired portfolios of Residential and Buy-To-Let mortgages. I worked closely closely with internal compliance colleagues and the two Outsourced Servicer's senior management teams to: * maintain and improve portfolio performance* ensure compliant practice and delivery with particular focus on TCF* correctly interpret significant volumes of regulatory change and ensure the Servicer's policies, processes, documentation and delivery met the FCA's expected standardsI escalated any significant issues and formally reported initially monthly and then bi-monthly to Arbuthnot's senior management team.My final role as a contractor was to support the selection and recruitment of my replacement as I approached retirement.

Bourne End

Handpicked, due to acquired expertise, to support Secure Trust Bank in their first venture into the first charge residential mortgage market. Reporting to the Managing Director, Mortgages, I was a key member of the team creating a new mortgage lender, ‘ground up’. Personal accountability was held for driving and optimising the end to end mortgage operation; including origination (in-house) and post completion servicing with arrears management (outsourced).• A major driving force behind the successful launch of Secure Trust Bank’s first venture into the first charge residential mortgage market in March 2017.• Optimising the mortgage origination system by heading requirements definition and testing/delivery, with partner DPR.• Securing excellent service specification terms with servicing partner (Pepper) to define and manage processes and mandates, following negotiation.• Continually enhancing the business’ proposition and improving system support for processes through ongoing development of the origination system. • Building and maintaining a high-performing origination team with the capabilities to achieve business goals; inclusive of recruitment, management, development and team expansion. • Establishing and continuously improving customer-focused, end to end processes; including First Line of Defence and quality assurance.• Winning, with team, a 5 Star Service Award from Financial Adviser in late 2018; outperforming all direct peers.

Surrey Based - Prepared To Travel

Intended to be a long term career change, I engaged in interim roles with senior-level stakeholders of client organisations and provided subject matter expertise on mortgage operations through origination, post-completion administration and collections. Role scope included stakeholder management, leadership, problem solving and risk management (including conduct risk). Ended prematurely when head-hunted by recruiter for Secure Trust Bank.

Leatherhead

Initially appointed as Interim Operations Manager, before promotion to Interim Head of Operations in 2016, in reflection of tangible impact. Reporting to the Director of Sales and Lending, the role operated in conjunction with Magellan colleagues and senior managers from across the operation. This was a time of major change, with an ambitious growth plan being implemented with a second phase of additional products. • Won consensus across the team for a challenging growth plan that featured changes to team structure, creation of new roles, training, recruitment and succession planning.• Catalysed strong short and long-term business benefits by integrating new system/processes and managing a detailed project to optimise terms with potential external system suppliers.• Delivered Mortgage Credit Directive compliant services, documentation and processes, in addition to fully updated Mortgage Conditions and legal document pack.

City Of London

Transferred from Home Funding by TUPE arrangement to WestLB (Portigon). The role reported to the Managing Director, Basinghall Finance PLC. Primary focus was on change management including regulatory projects. Remit included management of a pending change list, including the Mortgage Credit Directive.• Designed and delivered services to meet FG 13/7 and the MMR, including associated services for contract variations and ground rent payments, in collaboration with the internal compliance officer and third-party administrator. • Delivered significant service improvements linked to quality management and conduct risk reviews, CML led initiatives and regulatory updates.• Provided strategic input as active member of the Council of Mortgage Lenders’ (CML) Arrears and Possessions Panel.• Continued exceptional arrears performance of the existing loan book; resulting in out-performance of all direct cohorts.

City Of London

An influential role as the key operations driver behind HFL creating a new mortgage lender (Basinghall Finance PLC) 'ground-up' for investment bank client (WestLB) and providing all management services as Master and Special Servicer through a small senior management team. Responsibility was held, with the team, for all operational design and delivery to Basinghall. This included origination and post-completion servicing, in addition to (from 2008) arrears management, incorporating management of the third-party administrator (TPA) and peripheral third-party service providers.• Spearheaded start-up of new lender, Basinghall Finance PLC, on a fully governed, outsourced service basis; including acquisition of several portfolios and creation of a monthly governance process and full reporting suite.• Significantly outperformed challenging business targets in a highly competitive market.• Quickly positioned Basinghall Finance PLC as a preferred supplier with business volumes controlled to match capacity and good credit quality. • Took ownership of credit management from 2008 and drove alignment with new FSA requirements for arrears management; inclusive of systems, process and cultural change.• Major influence behind minimal customer recompense and no fine following Basinghall's Arrears Thematic Review by the FSA in 2010.• Invited to join The CML Arrears and Possessions Panel. • Brought the business in line with new TPA requirements, regulatory updates and best practice in 2010 by project managing systems, processes and cultural change.• Realised a sustained increase in performing arrangements and reduced contact requirements, with the Basinghall book continuing to outperform direct cohorts in all KPIs.• Supported the Chief Executive in negotiations to close the contract during 2012 after WestLB elected to bring asset management services in-house following the assets being transferred to EAA.

Dartford And Leeds

Head of complaints with focus on root cause analysis and subsequently project lead in delivery of imaging to the mortgage services operation, enabling Workflow led efficiencies and off-shore servicing.

I progressed rapidly through management of a wide variety of mortgage operations teams gaining an expert knowledge of mortgage administration from origination through post-completion servicing and special servicing to redemption in an exciting environment. This was where I learned to apply an approach which I still use today 'Measure the right things to drive the right outcomes'.