Manager Insurance

JOSEPH M. FURNARI

**** ********* ***., ***. ** 914-***-****

Yonkers, New York 10701 acd8lq@r.postjobfree.com

PROFESSIONAL BACKGROUND

ASSURED GUARANTY LTD., New York, NY (September 2004-Present)

Assured Guaranty is a publicly traded bond insurance company that provides credit enhancement products

to the U.S. and international public finance, structured finance, and infrastructure markets. Assured is

registered with the SEC, and its regulators include the Maryland Insurance Administration and the New

York Department of Financial Services.

Vice President – Underwriting / New Business Origination and Portfolio Management

Remediation: Structured Credit and CDO Department

Responsible for originating, underwriting, portfolio management, and remediation of both primary and

secondary Structured Credit and CDO transactions, including:

CDOs: Trust-Preferred CDOs (Bank, Insurance, and Mortgage assets); Middle-Market, Market

Value, and Broadly Syndicated CLOs; CDX and LCDX index transactions; bespoke corporate

synthetic transactions; CBOs; and Commercial Real Estate CDOs.

Other Structured Credit: Whole Business securitizations (film financing); and excess SIPC insurance

policies.

Lead in drafting credit memos for both new transactions and for amendments of underlying corporate debt

within CDO transactions, and the presentation of such to senior management.

Conduct collateral manager due diligence and complete manager reviews.

Credit analysis and workout of distressed debt of REIT (including Equity, Commercial and Residential

mortgages), CMBS, Homebuilders, Bank, and Insurance issuers.

Work with internal and external counsel to negotiate transaction documents, swap confirms, counterparty

settlements, and litigation disputes.

Marketing functions include: representing organization at industry conferences, and managing existing

client relationships, and cultivating new business.

Determine risk ratings and reserves for transactions in portfolio, including calculation of default and

recovery assumptions and analysis of interest rate hedges.

Calculate profitability and ROE based on projected risk ratings and capital charges

Responsible for cash-flow modeling in Excel, Intex, and Trepp. Experience with Bloomberg and SNL

Financial.

Manage and assist in the training of associates in the department.

Promoted to Assistant Vice President in 2007 and Vice President in 2010 as recognition by organization for

superior performance.

THE SUMITOMO TRUST & BANKING CO, LTD, New York, NY (May 2002-September 2004)

Officer / Buy-Side Analyst – Structured Products Department

Lead in drafting credit screens and credit memos for investments of CDO and ABS transactions.

Responsible for cash-flow modeling of CDOs in Wall Street Analytics and Excel.

Monitor portfolio and participate in sell recommendations of existing CDO and ABS transactions.

Maintain monitoring records and generate monthly and annual reports for senior management,

headquarters, and credit departments.

Conduct frequent calls with asset managers and rating agencies.

Attend seminars and conferences of deal arrangers and rating agencies. Perform site visits for deal

arrangers, asset managers, and issuers.

THE BANK OF NEW YORK, New York, NY (June 2000-May 2002)

Associate - ABS and MBS Corporate Trust Department

Contributed to development of ABS Analytics Department.

Responsible for cash-flow modeling of ABS deals on Wall Street Analytics and Excel.

Calculate principal and interest payments and fees for MBS deals that are to be paid to bondholders each

month based on data provided by servicers.

Responsible for training associates and assisting officers in closing new MBS deals.

EDUCATIONAL BACKGROUND

1996-2000 VILLANOVA UNIVERSITY - B.S. in Mathematics

1

2001.2003 PACE UNIVERSITY - Business Coursework in Accounting, Managerial Theory, Economics, Finance, and

Marketing.

2008 NY INSTITUTE OF FINANCE – Formal Credit Training in Corporate Credit Risk

2

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