Checkpoint Capital, LLC, a financial services leader in fixed income transparency pricing for community banks and credit unions, announced today that both Jorge F. Sanchez and Matthew I. Walter have been appointed Executive Vice President/Community Bank Strategist, effective immediately.
Jon Virostek, President and Founder of Checkpoint Capital, LLC, said, “The addition of Matt and Jorge to our team reinforces our capabilities to meet the demand for transparency for community banks. We give buyers the choice to know their costs. Not only is that a positive in and of itself, it also provides portfolio managers with support in their related fiduciary roles. Today it is especially important for CFOs and Portfolio Managers to be able to demonstrate the application of industry best practices, which ultimately is the primary concern of boards and shareholders. When our bankers know their costs, that customer becomes more comfortable asking questions. A lot of this strategic support is a testament to our CEO Billy Weber’s credibility in the industry. When you have a guy that was with the FDIC’s division of resolutions and capital markets, you get more than talent; you get experience and relationship. Plus, Matt and Jorge know what today’s CFO or Portfolio Manager is going through because they have been in that seat.”
Commenting on the appointments, William K. “Billy” Weber, CEO of Checkpoint Capital, LLC, said, “Jorge brings tremendous expertise not only as a turnaround specialist, but in balance sheets, loans, investment portfolios, as well as the strength of the capital structure of a bank. Matt’s strength is not only the balance sheet in its totality and holistically, but also on the investment side, as community bankers confront reinvestment risk in today’s challenging circumstances. Both have strong leadership abilities with extensive experience in analyzing complex problems and implementing solutions, and their capabilities will serve clients very well going forward.”
Jorge F. Sanchez joins Checkpoint Capital with more than twenty-five years of management experience as Chief Financial Officer and Treasurer for both publicly traded and privately held financial institutions. In those roles, he was responsible for financial, operational, information technology and risk management processes. His expertise includes improvements to an entity’s enterprise risk, which has resulted in bringing the regulatory ratings of various banks to satisfactory levels, and in certain instances, led the way to their successful sales.
“I’m excited to work with Checkpoint Capital to provide the technical know-how and methods in pricing transactions fairly, on a fully disclosed basis, and drive transaction costs down for the community banking industry,” said Jorge Sanchez. “Yet the human capital is essential, too, especially in situations where the institution might be financially strapped or constrained by government impositions by the Federal Reserve or banking regulators. Identifying risk and areas that are falling short, finding solutions, then capturing rewards wherever possible is key. The path to making the operation better is to make sure the solution is viable, which requires transparency on all sides.”
Matthew I. Walter joins Checkpoint Capital with nearly three decades of experience in community banking. He has served in multiple roles, including as Chief Investment Officer for various banks with net assets ranging from $1.1 billion to $2.5 billion. Matt’s responsibilities have included management of a $1.5 billion fixed-income securities portfolio, balance sheet management and liquidity, strategic profitability initiatives, asset liability management and economic forecasting. His expertise includes development of investment and balance sheet strategies for presentation to CEOs, CFOs, and Boards of Trustees to mitigate risk, meet liquidity and profitability objectives, and maintain satisfactory regulatory standing.
Matt Walter said, “Buying bonds that fit correctly into a balance sheet is crucial. But bankers need to know the value of something before a transaction. There should be no surprises. Banks get paid to take risks, but it is important to quantify the risk, mitigate risk wherever possible, and where we can, get paid for taking the risk. But the question—especially in the current economic environment—is how to take risk in a sensible way, particularly as margins are increasingly compressed. I have a passion for Checkpoint’s transparency initiative, especially as many community banks do not have the resources to obtain execution on investments in securities. I look forward to helping community banks and credit unions find and implement great solutions.”
Discussing the role of community banking in local and regional economies, Jon Virostek added, “Community banks play a vital role in our nation’s economy through grassroots reinvestment and support of local community affairs. Institutions that focus on the balance sheet to reduce margin risk and obtain rewards wherever possible will be better positioned to help local SME’s speedily recover from any economic impact of the coronavirus pandemic. We want to guide and support bankers in achieving that goal, and in doing so, help their communities rebuild their local and regional economies to stimulate healthy, vibrant growth.”
Checkpoint’s Jon Virostek and Billy Weber invite community bankers to register for the complimentary webinar Transparency: A new era of fixed-income investing for community banks hosted by American Banker Magazine and Credit Union Journal on Thursday, May 7 from 1:00 pm to 2:00 pm CST. They will present a strategic overview of fixed income investing and transparency pricing, and answer questions from registrants. The webinar will be moderated by New Reality Media’s Mike Perkowski and will also feature a presentation by Don Brown of Riskspan.