Mike Otto Email & Phone Number

Buffalo, NY, US

• I was tasked with creating and managing the Retail Credit Review department, which was responsible for providing oversight on the credit risk management structure for $50B in outstanding balances for Residential.
• Led a team of 7 credit review officers, team leads, and managers
• Subject matter expert on the life cycle of lending, including sales, underwriting, asset management, and risk.
• Developed and executed a risk-based annual test/review plan that was completed on time every year.
• Trained and mentored staff that identified gaps in underwriting policies and procedures that created unknown or unwanted credit and operational risk.
• Wrote the functional specifications and participated in Agile project that developed a database that centralized the review process, allowed for communication between departments to occur within the database, and.

Buffalo/Niagara, New York Area

• I was asked by senior management to work closely with the default servicing team (collection, lost mitigation, bankruptcy, foreclosure and claims departments) to ensure that M&T maintained its Tier 1 rating with FHA..
• Regularly met with FHA’s senior management team for default to provide status updates on our default servicing and to receive updates from them on M&T’s rating.
• Worked closely with the management of the default servicing teams to maintain an awareness of how their programs were impacting M&T’s rating and to manage cross-functional projects
• M&T’s Tier 1 servicing rating was maintained.The following provide some of the key responsibilities and accomplishments for SFLS program:
• Regularly met with FHA’s senior management team for the SFLS program to review results of previous sales and prepare for future sales.
• Subject matter expert on the contract signed to participate in the program.

• Led a department that sold over $200M in bank-owned assets over a 3-year period. I was asked by senior management to re-engineer the department so that it could operate more efficiently. Directed the department.
• Managed annual sales of $70M, an annual budget of $4M, and staff of up to 35 repossession and remarketing specialists, team leaders, and managers.
• Ensured compliance with state and federal regulations and represented the department in internal, state, and federal audits.
• Participated in implementation of a new system for consumer repossession and remarketing and led projects for enhancements post implementation.
• Wrote functional specifications and worked with a developer to create an Access database that automated the tracking process for repossession and remarketing processes for commercial products.
• Re-engineered department processes, resulting in a 15% reduction in staff size.

• Led a team that sold nearly $100M in bank owned real estate over a 2.5-year period. I was tapped by executive and senior management to re-engineer the sales process for M&T’s Real Estate Owned department (which.
• Managed annual sales of $45M, annual budget of $1.5M, and 12 specialists and team leaders.
• Achieved executive management’s annual goal for reducing inventory in just 5 months.
• Improved operational processes, which reduced selling times by 30%, resulting in $1M in annual savings.
• Trained and mentored staff to creatively design and implement marketing strategies that maximized the sales price.
• Developed and administered a performance-based incentive program.

• Led a department that generated $400M in sales and $4.5M in net income over an 8-year period. Oversaw sales of specialized products for customers that did not qualify for M&T’s conforming mortgage products. The.
• Managed sales as high as $92M annually, an annual budget of $2M, and a matrix managed staff of up to 21 sales people (face-to-face and telephone) and assistant managers.
• Increased sales production by 255% and net profitability by 372% over a 5-year time frame.
• Identified gaps to existing product offerings and collaborated in developing marketing strategies used to launch new products and services designed to meet customer needs.
• Trained staff on all product offerings and presented features and benefits to relevant parties.
• Coordinated and conducted annual sales conference, which focused on department results vs. goals, marketing and sales activities, and compliance related issues.