Nathan Tracy Consulting, Inc. is seeking contractors for a client assembling an Operations team responsible for the closure of failed financial institutions.
Job Listing 1 Job Title: Facilities Management Job Description: The facilities Manager must ensure an orderly entry to the institution's premises, arrange and maintain workstations for the closing team, provide adequate supplies, computers, and copy machine equipment, and provide for the operational needs of the closing team. The facilities manager is responsible for all property and premises of the institution. This includes all records and files, unissued items, vaults, and off site storage facilities. As part of the control process facilites personell will conduct inventories of such items as vault contents, branch contents, and gift and other premium items.The facilites manager ensures that dual control is maintained at all time while handling negotiable items. Another major responsibility of the Facilities Manager involves security. Prior to an Institution closing the Facilities Manager arranges for Security Guards to be in place at the time of closing. Additionally, the Facilities Manager provides direction to the guards during the closing process. They also have responsibility for securing the vaults and institution premises until such time as the Assuming Institution takes control.
Job Listing 2 Job Title: Claims Management Job Description: In general Claims Management is responsible for the payment of funds to insured depositors. The performance of this duty is governed by the type of transaction approved. Broadly speaking, tasks involve the review and analysis of depositor accounts, determining the amount of deposits each depositor has in the aggregate, and determining whether each depositor has bank funds in excess of FDIC deposit insurance. Transactions which control the accountability and responsibility of Claims is referred to as Purchase and Assumption (P&A), Deposit Insurance Transfer Agreement (DITA), and Deposit Insurance Transfer and Asset Purachase Agreement (DITAPA). Specific roles and responsibilities are described in the National Claims Manual for each of the above referenced claims transactions. In all types of transactions claims is responsible for notifying general creditors, i.e. trade creditors, of the institution's closing. The National Claims Manual contains policies and procedures for the completion of the task addressed in this section and any other duties that may be appropriate.
Job Listing 3 Job Title: Branch Management Job Description: In general Branch Management is responsible for management and organization of all activities related to the branches. The Branch managers will perform their assigned duties under the supervision of Branch Management. The activities accomplished at the branch will in many respects correspond to a number of duties which involve the Facilities, Assets, ProForma, and Administration areas. Prior to the closing, Branch Management may provide training to FDIC personnel and/or contractors who will serve as Branch Managers. Branch Management will review the closing checklists to ensure that all the branch related items have been completed. In a purchase and assumption or a deposit transfer transaction, the assigned Branch Manager for the closing will facilitate the transfer of assets and liabilities in the branch to the Assuming Institution. In a payout, all assets will remain with the FDIC as Receiver.
Job Listing 4 Job Title: Personnel/Administration Management Job Description: In general, the Payroll/Personnel function is responsible for the oversight of various payroll/personnel-related issues. This section will serve as a liaison between the Assuming Institution, the Closing Manager and the RIC to coordinate the designation of all institution personnel. This section will assist the Closing Manager with the organization, reviewing for accuracy and tracking of timesheets for the FDIC closing team and former institution employees. The responsibility listed in this section is strictly a closing function and not an ongoing personnel function. The Receiver-In-Charge should make a determination as soon as possible as to employment needs of the Receivership. Once the determination is made, discussions regarding the hiring of temporary employees should be held with the Personnel Department of the DRR/DFOB. Former bank employees hired through a temporary agency may not work beyond 120 days. The authority to hire locally may only be used within 60 days of the institution’s closing.
