Larry Murphy Email & Phone Number

Create, communicate and implement the company's vision, mission and overall direction. Formulate strategic plan and oversee organizational operation and execution of plan. Maintain awareness of both internal and external competitive landscape and identify opportunities for growth and improvement.

Joined Commercial Loan Review as New England Examination Group Manager in Oct 2011 and promoted to Examination Group Manager for entire US footprint in July of 2012. Commercial Loan Review's primary responsibility is to review and assess the design and accuracy of business controls in place regarding Commercial Credit underwriting, monitoring & control and.

Boston, MA, US

• Member of senior management team which built a commercial real estate workout division for Sovereign. Drove strategic initiatives, executed business strategy, supported attainment of management objectives.
• Revised watched asset reporting which streamlined the process, improved efficiency, resolved critical reporting delinquencies and improved discipline for $2 billion portfolio.
• Developed and implemented procedures to provide better controls in the calculation, approval and reporting of FAS 114 reserves in compliance with federal regulations.
• Managed staff of 5 with direct responsibility for credit administration, underwriting and risk management reporting.

Boston, MA, US

• Promoted to member of senior management team that created the Financial Institutions Group for Sovereign in addition to risk management duties. Formulated and implemented business strategies, constituted and effected.
• Developed and implemented credit administration policies and procedures designed to monitor, control and report on Sovereign’s $8 billion counter party exposures as well as Government Banking and Financial Institutions.
• Expanded risk management group by hiring staff and partnering with credit risk management to develop and implement policies, procedures and controls designed to evaluate, monitor and mitigate Sovereign’s counter party.
• Formulated policies and procedures to streamline and standardize new product / vendor initiatives by the establishment of a project charter, documentation, approvals and controls.

Boston, MA, US

• Formulated risk management group that developed and implemented effective risk mitigation policies, procedures and controls. Negotiated all vendor and third party contracts, resolved vendor and customer legal issues.
• Authored credit policy for the approval of automated clearing house services and led projects that established formal exposure limits, operational, and risk controls for 1,300 customers which cleared an unsatisfactory.
• Developed and implemented structure to manage vendor outsourcing process and led negotiations for the completion of over 20 critical vendor contracts.

US

• Direct responsibility for credit administration, portfolio management, risk management, credit underwriting, and legal documentation for a $100 million portfolio.
• Developed credit administration information systems to track the financial performance / compliance of clients which was implemented for the entire division.
• Successfully minimized loss exposure of a $4 million leveraged lease portfolio and maximized the corporation's return on this portfolio.
• Direct supervision of one financial analyst with matrix supervision of four portfolio managers.

US

• Direct responsibility for the management of $64 million portfolio of non performing assets.
• Authored financing strategy for auction of $1.1 million motel with full recovery of investment and expenses, negotiated the sale of four non performing notes, and generated $229 thousand in recovered income.

US

• Direct responsibility for the management of $60 million portfolio of non performing assets.
• Authored 1992 / 1993 operating budget for entire division, prevented largest performing relationship in division from migrating to nonperforming status, managed $60 million portfolio comprised of performing substandard.

US

• Business development, cross sell and relationship management responsibilites for assigned portfolio and prospective clients.
• Inherited portfolio with 53% of relationships classified and delinquency rate of 28.3%, restructured classified relationships where appropriate and reduced delinquency rate to 7.3%, generated over $4 million in new.