Compass Bank & First Heights Bank Work Values

Daily Duties at Compass Bank & First Heights Bank:

• Assisted CFO in monthly budget/plan review, and fair value analysis of financial instruments (loans, securities, hedges) • Responsible for management of a $3 billion investment portfolio composed predominantly of mortgage-backed securities at Compass Bank after it acquired First Heights Bank. • Converted $2 billion to a total return framework with specific effective (option-adjusted) duration and effective convexity targets. The total return portfolio contained fixed and adjustable rate CMO’s, credit card and auto asset-backed securities, pass through certificates, Treasuries and interest rate swaps. • Salomon Brothers Yield Book was used to manage portfolio risk and analyze potential returns of alternative transactions. • Established and coordinated investment strategy and related Financial Planning processes • As part of the management team selected by Pulte Homes Corporation to recapitalize and restructure First Heights Bank, was responsible for fixed income portfolio management, whole loan pricing and trading, hedging with futures and OTC options, wholesale CD funding and FHLB advances, balance sheet forecasts, asset/liability management, and cash and collateral management/wire room functions. • Developed the First Heights Bank Treasury Department and ALCO from start-up. The securities portfolio grew from $100 million in 1989 to $1.1 billion at year-end 1993. The portfolio was actively managed and generated $25.7 million in realized gains during the period of 1991-1993. • The First Heights Treasury Department contained three departments: Treasury Operations ( trade settlement, investment accounting, cash accounting, hedge accounting, and collateral management), Asset/Liability Management (regulatory and management interest rate risk reporting and various risk analyses related to security and loan fair value reporting), and Money Desk CD Issuance (wholesale rate based CD issuance).

What they like about Compass Bank & First Heights Bank:

Working for a company with an emphasis on social values and helping society is a clear and important priority for you - a critical factor in who you choose to work for. In contrast to other factors, you place an organization's reputation for fairness and concern for the community above most other aspects of the company. As you search for a new job opportunity, it is usually possible to find out if the company is involved in the community and/or if it is addressing problems and issues in society. Pay special attention to non-profit organizations and those specifically involved in social action. Moreover, speaking with current and former employees should enlighten you to perceptions of the fairness of the company's leaders and the treatment of employees.

Tags

Fixed Income, Hedge Fund, Wholesale, Acceptance Testing, Accounting, Audit, CFO, Consulting, Credit Card, Forecasting

Skills

Financial Review & Assessment, Financial Services Leadership, Quantitative Model Development & Research

These are some of the questions we asked our climbers about their experiences with Compass Bank & First Heights Bank: