Shared Challenges, Shared Solutions: The Value of Peer Exchange in the Large Bank Operations Forum

From left: Saqib Salman (Citibank), Melanie Brantz (Citibank), Jill Frondorf (Fifth Third Bank) Monique Ellis (MBA), Allyson Knudsen (Citibank) and Marcetta Rhodes-Gaines (TD Bank). Courtesy of Monique Ellis.

The Mortgage Bankers Association’s Large Bank Operations Forum brings together senior operations leaders from large banking institutions (asset size of $100 billion or more), providing a forum to discuss timely industry topics and shared challenges.

Now, three years since it began, participants shared with NewsLink the benefits they’ve seen from the group, and what they hope to accomplish moving forward.

Getting Started

The forum kicked off in 2023, following a pitch from MBA’s Citibank members who wanted to start a peer discussion group that included only bank operations leaders. Jason Cramer, managing director, head of lending operations and client experience at Citi, described the inception of the group. “I’ve been in the mortgage industry for 23 years and have participated in several panels and forums that were always a combination of large public banks, vendors and IMBs,” Cramer said. “While similar in a lot of ways, there are differences in the space–most obvious is having different regulators that can lead to different priorities. It made sense to me to have an invite-only forum where large banks could focus on topics germane to those audiences only.”

There was also a timely need. “The banking industry has seen many changes since the COVID-19 pandemic, particularly with the rates rising as rapidly as they did,” recalled Saqib Salman, senior vice president, head of business execution, Citibank. “This forum offers a safe, moderated space for discussions and collaborative problem-solving. It provides an opportunity for great minds to learn from each other, all with a laser-focused aim to improve processes. The networking opportunities are phenomenal, and the industry collaboration is exceptional.”

The first official meeting was during the 2023 MBA Annual Convention in Philadelphia. Now, the forum meets quarterly, with one in-person meeting a year during Annual.

“When I first began to form the Large Bank Operations Forum, we saw an opportunity to bring a different perspective to the conversation by creating a dedicated space for senior mortgage operations leaders,” said Monique Ellis, AMP, MBA associate director of Strategic Industry Engagement, Residential Policy. “From helping shape the forum’s purpose to bringing members together for our first meeting, our goal was to create something unique: a dedicated space that brings mortgage operations leaders to share insights on the challenges and opportunities facing their organizations.”

The Benefits of Focused Networking

At these gatherings, executives get the opportunity to have candid, peer-to-peer discussions and share how like institutions approach industry issues. Cramer noted: “By collaborating with peer banks and other depository institutions, we are able to openly discuss common opportunities and challenges, exchange perspectives and learn from approaches that have proven successful across the industry. These discussions create an environment where organizations can leverage one another’s experiences to accelerate improvement and identify practical solutions to complex business challenges.”

Cramer added that because the forums’ participants are exclusively banks, there are specific needs and issues they can speak to that aren’t necessarily as relevant to nonbank lenders or others.

Those kinds of focused conversations provide learning opportunities for participants. “One of the most valuable aspects of this forum is the open exchange of practical solutions to real-world challenges. Leaders regularly share proven processes, implementation experiences and vendor capabilities that have helped others adopt more effective strategies,” explained Paul Dorsey, senior vice president of home lending operations with Wells Fargo Home Mortgage.

“These peer-to-peer conversations provide valuable perspective on how other organizations are addressing shared challenges, such as applying new requirements or guidance from investors and agencies. It is incredibly helpful to have a dedicated space to bounce ideas and concerns off those in similar leadership roles,” explained Stephanie Elbin, senior director of Mortgage UW Risk Management, Arvest.

Meeting Today’s Challenges

The forum provides an opportunity to discuss some of the industry’s most pressing priorities, including artificial intelligence. “The first in-person meeting I attended was a roundtable discussion focused on artificial intelligence and the approaches various financial institutions are taking to adoption and implementation. One of the most notable observations was that while nearly every bank had identified similar use cases and business processes as priorities, they were at markedly different stages of maturity and execution,” recalled Dorsey. “A common theme throughout the discussion was the challenge of balancing innovation with risk management. Many organizations expressed concern that the current regulatory and risk environment could slow the pace of adoption, despite recognizing AI’s significant potential. As a result, there was strong interest in establishing a common governance framework that could provide structure, consistency and appropriate controls to help institutions navigate AI implementation responsibly while accelerating adoption across the industry.”

“The group has met several times, both in person and over Zoom. As the partnership has expanded with more banks joining in, the core discussions have only gotten better. We’ve discussed industrywide challenges and learned the ups and downs of various approaches, helping us be more efficient and deliberate in solutioning,” Salman said. “My favorite recent topic has been on AI usage and the level of authority banks are giving their employees as they navigate through this quickly evolving AI landscape.”

Dorsey noted he hopes the forum plays a role in advancing “the responsible adoption of artificial intelligence across a highly complex and regulated industry, simplifying processes, enhancing efficiency, and ultimately improving the homeownership experience while helping make homeownership more accessible and affordable for our customers.”

Above and Beyond Conversations

While the forum provides myriad resources in the form of networking and collective problem solving, it also helps shape MBA’s advocacy on issues that matter to large bank operations. “I believe this group has been effective in collaborative advocacy, assisting in securing necessary changes with GSEs and agencies to improve processes and make obtaining home loans easier for consumers,” explained Elbin.

“As the forum continues to evolve, my goal is to ensure that the insights and experiences of our members continue to inform MBA’s policy priorities and drive meaningful progress in mortgage operations,” Ellis said. “These peer conversations provide an opportunity to learn from shared experiences, explore new ideas, and identify actionable solutions that strengthen our industry and ultimately better serve the consumers and communities we support.”

If you’re interested in learning more about the Large Bank Operations Forum, contact Monique Ellis at Mellis@mba.org.