Pēteris Sprūdžs Email and Phone Number
I help bank CEOs grow revenue by driving optimal capital allocation and growth strategies. at
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Ledyard National Bank
Pēteris Sprūdžs's Location
United States, United States
Pēteris Sprūdžs's Contact Details
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About Pēteris Sprūdžs
I have made a career of helping CEOs of a small- to mid-size financial services firms answer tough questions like these:• How can we grow revenue by $20M or more?• Do we know which of my business lines we should grow and which ones we should shut down?• Are the resources we have (capital, people, cash) optimally deployed?• Do we understand the risk we run and whether it’s too much or not enough?CEOs may feel anxious about these questions. Vested interests may be keeping them from seeing the big picture. They may feel like they are missing information needed to assess trade-offs, and may wish they felt more confident when speaking to the board about key business decisions.It's better if CEOs have a trusted strategic advisor that provides the perspective and analysis they need. Someone who is unbiased and financially savvy... someone who can help find that extra $20M... someone like me.Finance areas often do not have the expertise CEOs need - a combination of financial know-how, business partnership skills, and the ability to communicate complicated facts succinctly. Traditional finance organizations focus on reporting numbers from the past, and can't fill the advisory role CEOs need.Years of practical experience in this field provide me with expert knowledge about how to solve this problem. I have helped leaders at companies in different sectors and situations grow revenue by creating finance areas that act as a strategic resource, systematically deploying integrated analytics and crisply answering the most pressing strategic questions. Teams I have led have won industry awards for innovation and value-add, and I have been recognized as a “Top 1% Performer” for my work in this arena.With my leadership, everyone gets smarter, alignment around the most important business objectives improves, and the business blossoms. Most important, CEOs gain peace of mind.If you are interested in exploring what makes for best practices finance support, please email me at pjsprudzs@gmail.com. I look forward to speaking with you!Expertise:Leadership - Strategic planning, employee engagementTreasury - Investments, securitization, debt, cash managementControllership - GAAP close, accounting policy, SEC reporting, A/P, systemsAnalytics - Benchmarking, BI, forecasting, pro formasRisk - Interest rate, credit, liquidity risks, risk appetite, capital allocationProfitability - By product, channel & customer, activity-based costingRegulations - ALCO, stress testing, policies
Pēteris Sprūdžs's Current Company Details
Ledyard National Bank
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I help bank CEOs grow revenue by driving optimal capital allocation and growth strategies.
Pēteris Sprūdžs Work Experience Details
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Chief Financial OfficerLedyard National Bank 2022 - PresentLedyard National Bank is a growth-minded bank with a solid core business, an outsized asset management division, and an active approach to balance sheet management.Lead finance, accounting, and treasury functions and help drive strategic direction.
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Chief Finance And Risk OfficerBmg Money 2021 - 2021Miami, Florida, UsBMG Money, Inc. is a $275M finance company owned by a Brazilian banking family.Recruited to help elevate annual revenue $15M with more mature finance leadership and insights.• Released capital trapped in excess reserves by reviewing pertinent accounting policies, supporting analytics, and data sourcing issues, driving a release into current period earnings of ~40% of reserve balances.• Investigated and evaluated complex asset-backed financing proposals from several Wall Street firms, and developed data and analytics to enable comparison of those proposals. • Pursued de novo bank charter to accelerate growth and expansion. Prepared full set of integrated pro forma financial projections, developed alternative ownership structures for consideration, and prepared presentations for review with regulatory bodies. • Led integration of finance and second-line-of-defense risk functions to develop improved analytics and processes. Added key lieutenants and trained existing staff, elevating current capabilities and future potential of the group.• Improved operational procedures and efficiency in cash management, monthly GAAP close, accounts payable processing, payroll, and other HR functions, including benefits planning. Results: Generated ~$25M in potential future annual net revenue by identifying new funding source projected to reduce funding cost by ~500bps, by successfully positioning the company to accelerate growth via de novo bank charter and by solidifying capital base with approach to reserves. Reduced operating risk through improved controls over key finance activities. -
Senior Vice President, Treasury And FinanceCredit One Bank 2018 - 2021Las Vegas, Nv, UsCredit One is a privately held credit card issuer with a ~$300M regulated bank and a ~$6B managed portfolio. Recruited to help increase revenue $15M and reduce risk through strategic finance leadership.• Led team of ~20 professionals in strategic finance and treasury functions.• Led the balance sheet management (ALCO) process. Introduced new economic value of equity and stress testing analyses. Prepared for and supported annual OCC exam.• Led pricing and account acquisition activity for $225M deposit portfolio. Deployed custom analytics to ensure optimal pricing, and to achieve intended volume flows and risk profile. • Provided CEO with detailed monthly forecast of balance sheet, revenue, and expense, along with industry context and projection of cushion for key covenant metrics. Transitioned forecast to cloud-based platform. Performed back-testing to improve forecast accuracy. • Led annual expense planning and subsequent monthly review process. Developed fixed / variable cost analysis, benchmarking, and trend data to allow CEO to set targets. Delivered flash reports and subsequent in-depth analyses of key variances and business implications. • Led treasury and cash management functions, including investment portfolio management. Established discount window borrowing capability. Managed bank and Fed relationships. • Analyzed customer payment behavior. Accelerated detection of operational failures and related foregone revenue from ~45 days to overnight with introduction of machine learning.• Vetted credit risk models to ensure accuracy in data sourcing, model mechanics, and alignment of key assumptions with financial models in the finance area.Result: Efforts improved earnings by ~$20M annually. Risks remained within policy limits, favorable regulatory reviews were achieved, and no covenant breaches occurred. -
Senior Vice PresidentFlagstar Bank 2015 - 2018Hicksville, Ny , UsFlagstar Bank (NYSE: FBC) was a ~$20B bank, now pending acquisition by New York Community Bancorp (NYSE: NYCB).Objective: Improve risk-adjusted earnings and share price through advanced FP&A functions.• Led team of ~30 finance and IT professionals in delivery of strategic finance functions for three key lines of business and all related products and distribution channels. Directed and coordinated activity of line of business CFOs.• Led strategic planning and annual budgeting process along with monthly business unit performance reviews. Presented to Board and executive management results, key variance analyses, and updated outlook. Developed customized KPIs and profitability analytics for lines of business, products, distribution channels, and the corporate whole.• Drove earnings guidance provided to equity analysts by preparing a monthly forecast of financial performance by segment along with associated risks and opportunities, including the potential impact of new products or acquisitions.• Prepared pro forma financial statements for M&A activity, clarifying impacts to projected performance along with opportunities and risks. Analyses included potential (and actual) acquisitions of mortgage origination firms, mortgage servicing portfolios and companies, and both adjacent and distant branch deposit portfolios.• Managed operation of PeopleSoft general ledger and Hyperion / Essbase profitability system, including routine monthly cycle operation, coordination and execution of minor enhancements, and evaluation and execution of major upgrades.• Reviewed and edited sections of 10-Q and 10-K documents pertaining to segment results.Result: Combined revenue growth and expense management benefits of ~$25M contributed to 6-8% annual EPS growth, ROE increase of ~200 bps, and a share price increase from ~$20 to ~$35, driven by understanding of the relative risk / reward profiles of the company’s various lines of business. -
Senior Director, Finance And Credit Risk AnalyticsFreddie Mac 2011 - 2015Mclean, Va, UsFreddie Mac (NYSE: FRE; OTC: FMCC) is a public-private entity that acquires and guarantees mortgages.Recruited to help drive net revenue growth of $50M annually with highly skilled internal consulting team.• Integrated business intelligence, financial analysis, and statistical capabilities onto internal consulting team that identified and solved complex business issues and created new insights and capabilities.• Led credit risk analysis efforts in support of new product offerings and mortgage insurance programs. Collaborated with product development team to crystallize risk / reward decision frameworks and to drive integration of new external data into product development lifecycle.• Delivered award-winning analysis of state-law effects on credit losses.• Developed deep insights regarding foreclosure costs and the value of servicing transfers.• Created unique credit loss driver analysis for non-financial executives.• Led reporting rationalization effort which drove organizational redesign.• Led financial analyst program, including program design, annual recruiting efforts, and analyst placement, covering ~25 analysts across the organization.Result: Improved net revenue by >$50M annually through negotiation with regulators to raise pricing, loss reduction due to optimized selection of alternative property disposition channels and servicers, and new product development. -
Senior Director, Single-Family Portfolio ManagementFreddie Mac 2009 - 2011Mclean, Va, UsFreddie Mac (NYSE: FRE; OTC: FMCC) is a public-private entity that acquires and guarantees mortgages.Objective: Reduce credit losses by $50M during Great Recession through focused FP&A support.• Developed and led finance team in support of newly created business segment in the wake of nationwide house price collapse. Led development of business plan to include overall strategic plan, specific tactical action plans with assigned accountability, and related expense budgets.• Developed key planning and performance concepts and KPIs such as all-in cost of carry for defaulted properties and portfolio roll-forward analytics.• Re-engineered and synchronized voluminous management reports from across different areas into a standardized and concise monthly business review package.Result: Reduced losses by >$100M annually, due to greater clarity and alignment around organizational objectives and improved accountability for loss management deliverables.
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Senior Director, Single-Family Profitability AnalysisFreddie Mac 2007 - 2009Mclean, Va, UsFreddie Mac (NYSE: FRE; OTC: FMCC) is a public-private entity that acquires and guarantees mortgages.Recruited to help grow annual net revenue $10M with insights gained from sophisticated profitability system.• Aligned and motivated underperforming cross-functional team of business analysts, IT operations specialists, and software development engineers in development and maintenance of loan-level profitability reporting system for $1.8T portfolio, encompassing 1.7 terabytes of data and 100+ users across the company.• Collaborated with marketing and sales areas to clarify implications of results on customer profitability and associated sales contract negotiations.• Overhauled system development process to radically improve system flexibility and responsiveness to user requests for enhancements or modifications.Result: Improved revenue by >$10M annually due to performance insights used by sales teams in contract negotiations. Insights and analytics were improved through the release of sixteen system enhancements in twelve months.
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Senior Director, Single Family Cfo GroupFreddie Mac 2004 - 2007Mclean, Va, UsFreddie Mac (NYSE: FRE; OTC: FMCC) is a public-private entity that acquires and guarantees mortgages.Objective: Mitigate risk through development of FP&A tools and insights.• Designed and prepared company performance analyses and communications to Board and senior management committees of troubled institution.• Led company-wide transformation effort to improve material weakness in monitoring controls.• Created probabilistic three-factor rapid-cycle earnings forecast and sensitivity analysis to promote understanding of earnings volatility and associated restatement risk.Result: Remediation of a material weakness was achieved and led to my recognition as a “Top 1% Performer.” Board and management committees were well informed about the company’s earnings profile and related risks.
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Director Of Financial Planning And AnalysisE*Trade Financial 2002 - 2004UsE*TRADE Bank was a division of E*TRADE Financial (NASDAQ: ETFC), since acquired by Morgan Stanley.Recruited to help drive revenue increase and expense reduction of $5M annually through FP&A leadership.• Redesigned forecasting process to focus management attention in a timely fashion on controllable P&L items, enabling better management of earnings guidance to executives, the Board and external analysts.• Developed integrated annual planning approach and introduced business unit profitability reporting, including identification of relevant business units, sources of risk, revenue and expense, mediation of long-standing disputes and installation of new technology. • Completed zero-based budgeting and detailed expense scrubs to minimize costs.• Prepared ~200-page binder of KPIs and responses to questions anticipated on quarterly earnings call.• Met quarterly with bank regulators to build goodwill and keep them apprised of the Bank’s business strategy and results given the company’s unique branchless banking approach.Result: Revenue growth and expense management contributed ~$10M annually, helping E*TRADE Bank’s earnings grow sufficiently to offset E*TRADE’s brokerage earnings collapse in the wake of the dot-com bust, preserving overall company earnings and favorably influencing stock price. -
Director, Global FinanceCapital One Financial Corporation 1999 - 2002Mclean, Va, UsCapital One (NYSE: COF) was a newly formed public company with $10-20B in assets, since grown to $425B.Capital One (NYSE: COF) was a newly formed public company with $10-20B in assets, since grown to $425B.Recruited to drive $5M annual revenue growth through deployment of sophisticated financial analytics and change management programs.• Led multi-year effort to introduce best practices planning process, including first-ever strategic planning and target-setting process.• Integrated revenue, expense, and balance sheet planning groups in a complex matrixed business unit / legal entity environment.• Developed option-adjusted funds transfer pricing framework.• Introduced award-winning liquidity risk management framework, business line reporting software, and state-of-the-art capital allocation methodology.Result: Added ~$5M annually to earnings through sustained growth and introduction of mature finance processes to a rapidly growing and still very entrepreneurially oriented company. Leadership efforts led to Capital One receiving the 1999 Alexander Hamilton Award for Overall Excellence in Treasury Management, awarded by Treasury and Risk Management Magazine. -
Director, Asset Liability ManagementCapital One Financial Corporation 1995 - 1999Mclean, Va, UsCapital One (NYSE: COF) was a newly formed public company with $10-20B in assets, since grown to $425B.Recruited to manage financial risk and enable revenue growth through sophisticated treasury analytics.• Designed and implemented from scratch the company’s financial risk management program and asset-liability management (ALCO) process. Developed customized risk metrics to fully engage senior management. Implemented state-of-the-art risk management software.• Integrated treasury and marketing team efforts to enable launch of revolutionary 9.9% credit card product.• Invented and actualized QBI futures contract with Chicago Mercantile Exchange, the first-ever credit derivative listed on a futures exchange.Result: Enabled launch of new product with >$30M annual revenue. Achieved favorable regulatory reviews of risk management frameworks and infrastructure, with no policy breaches. Received industry recognition for innovation by winning the 1998 Alexander Hamilton Gold Award for Excellence in Financial Risk Management from Treasury and Risk Management Magazine.
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Vice PresidentSpeer & Associates 1992 - 1995Speer and Associates was a strategy consulting firm serving the financial services industry.Recruited to drive revenue-producing projects, serving as company finance expert.• Completed analysis and research projects for clients in North and South America. Presented recommendations to senior client management.• Revenue-producing projects included development of a multi-currency earnings forecasting model, deployment of business line and product profitability measurement systems, installation of a turnkey balance sheet and interest rate risk management program, analysis of a client’s ATM network strategy, and completion of numerous business valuations.• In-house projects included ATM benchmarking cost studies and development of a commercial lending customer profitability system.Result: Achieved second-highest billing rate in the company and second-fastest promotion to VP in company history.
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Vice President, Retail BankingM&T Bank 1990 - 1993Buffalo, New York, UsM&T Bank (NYSE: MTB) was a $2B bank that quintupled in size by 1993; since grown to $155B.Recruited to drive revenue growth through M&A and profitability analytics.• Performed CFO functions for retail banking division, including strategic planning, profitability and pricing analyses.• Analyzed acquisition targets from financial and branch network valuation perspectives and made recommendations regarding branch closures.• Implemented staffing efficiency models.Result: Actions and analyses helped the Bank quintuple in size from ~$2B to ~$10B in assets. -
Vice President, TreasuryM&T Bank 1985 - 1990Buffalo, New York, UsM&T Bank (NYSE: MTB) was a $2B bank that quintupled in size by 1993; since grown to $155B.Objective: Manage balance sheet risks and drive revenue through analytics and marketing support for treasury sales activities.• Delivered capital-markets analyses related to balance sheet management strategies and trading activity, including limit policies, ALCO policy, securitization, hedging, and transfer pricing.• Managed $2B investment portfolio, including development of in-house OAS models.• Recommended and executed $500M medium-term funding program.• Provided marketing support to retail brokerage unit and capital markets sales group.• Assessed and made recommendations regarding acquisition targets’ balance sheet positions.Result: Actions and analyses helped the Bank quintuple in size from ~$2B to ~$10B in assets.
Pēteris Sprūdžs Skills
Financial Modeling
Strategic Financial Planning
Financial Analysis
Corporate Finance
Risk Management
Capital Markets
Strategic Planning
Valuation
Banking
Portfolio Management
Finance
Analysis
Due Diligence
Cost Accounting
Business Profitability
Liquidity Risk
Credit Risk
Investments
Forecasting
Credit Cards
Bank Mergers
Interest Rate Risk Management
Mortgage Servicing
Mortgage Banking
Financial Risk
Treasury Management
Enterprise Risk Management
Treasury
Fixed Income
Executive Management
Financial Planning
Strategic Leadership
Accounting
Strategy
Financial Services
Mergers And Acquisitions
Business Analysis
Management
Analytics
Leadership
Business Process Improvement
Credit
Change Management
Budgeting
Loans
Project Management
Pēteris Sprūdžs Education Details
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The University Of Chicago Booth School Of BusinessFinance -
Université Catholique De LouvainFinance And International Business
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University Of ChicagoStatistics
Frequently Asked Questions about Pēteris Sprūdžs
What company does Pēteris Sprūdžs work for?
Pēteris Sprūdžs works for Ledyard National Bank
What is Pēteris Sprūdžs's role at the current company?
Pēteris Sprūdžs's current role is I help bank CEOs grow revenue by driving optimal capital allocation and growth strategies..
What is Pēteris Sprūdžs's email address?
Pēteris Sprūdžs's email address is pe****@****ank.com
What schools did Pēteris Sprūdžs attend?
Pēteris Sprūdžs attended The University Of Chicago Booth School Of Business, Université Catholique De Louvain, University Of Chicago.
What skills is Pēteris Sprūdžs known for?
Pēteris Sprūdžs has skills like Financial Modeling, Strategic Financial Planning, Financial Analysis, Corporate Finance, Risk Management, Capital Markets, Strategic Planning, Valuation, Banking, Portfolio Management, Finance, Analysis.
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