This letter is intended to serve as a recommendation for Joe Klose to the University of XYZ. Joe has been employed with Universum Group as a business consultant in the business development department since June 15, 2010. As his manager, I have known Joe since he joined the company. I have been repeatedly impressed with his performance on the job. It is, therefore, my privilege to recommend Joe for a master’s program at the XYZ business school.
The Universum Group offers tailored-made solutions in risk management and accounting services to domestic and international clientele. Additionally, the group offers services inclusive of back-up servicing of asset-backed-security transactions, portfolio evaluation, analysis and monitoring of receivables as well as payment and accounting services.
Discharging consulting services to clients concerning management of receivables with a strong focus on back-up servicing for asset-backed-security transactions. Back-up servicing projects are large cross-functional projects involving various external and internal stakeholders aiming to service asset-backed-securities. This requires developing servicing processes with investment banks as well as originators of the receivables. It also entails negotiating a legal structure codified in a back-up servicing transaction agreement. Given the international scope of the projects, clients typically request back-up services for the UK, Germany, France, Spain, Switzerland and Austria. Depending on portfolio size, number of countries involved and asset class, back-up servicing projects typically last several months to over a year.
Process focused project management ranging from tendering to successful implementation of the proposed solution.
Development of new business opportunities and new pricing models.
Examination and coordination of new cooperation partners during the initial implementation.
Presentation of service solutions and project performance to senior executives.
It is indubitable that the responsibilities highlighted above, apart from being numerous and demanding, requires an upfront and an overly organized individual who has an eye for details coupled with symbolic leadership skills- we found all these traits in Joe.
In the same light, I would also like to point out the following highlights of his accomplishments:
Joe created a project plan, performed a cost-benefit analysis and exercised leadership on contractual negotiations with a French investment bank during the design and implementation of a back-up servicing solution for an automobile bank of a leading French automobile manufacturer. He effectively put into action a business plan that ensured high profitability for the company. The asset-backed-security portfolio (asset: vehicles) totaled €630 million.
Joe design and implemented a back-up service solution for a bank of a large U.S. automobile manufacturer for multiple European asset backed security transactions (asset: vehicles). He took on the project management of activation services including consultation and process alignment with stakeholders. Countries and portfolio size of the transactions: UK: £1.265 billion, Germany: €535 million, France: €340, Spain: €300
Joe additionally designed and implemented a back-up servicing solution for a German leasing portfolio. Similarly, he was involved in the functional analysis as well as contractual negotiations pertaining an asset-backed-security portfolio (asset: industrial vehicles, industrial machinery, aircrafts, among others) totaling €270 million.
He completed a conceptual design and implementation of back-up servicer solutions for a leasing portfolio (assets: medical equipment, technical assets, trucks, among others.) as part of a European asset backed security program in Germany, France, Austria totaling €110 million.
Again, he conceptually designed and implemented a new business model, “Subscription Services”, as part of a pilot project for a new client. This project was brought to successful completion during initial training shortly after Joe joined Universum Group.
Joe was also intemperately involved in the due diligence of rating agencies (Standard & Poor’s, Fitch Ratings) and the European Investment Fund, the credit enhancement and guarantee provider of the European Union. His involvement in the company’s initial rating, conducted by Fitch Ratings, resulted into the very first positive rating of a back-up service provider in the securitization industry in Europe with a rating of “ABSP3”.
I must admit that Joe was responsible for our selection by the international service providers and cooperation partners for the services floor-checking (audits of vehicle stock), repossession and realization of automobile receivables. This included the creation of functional specifications to the service providers, including negotiations of service level agreements as well as internal coordination with our legal department.
In addition, Joe provided indispensable contributions that warranted a successful revision of our service offering and pricing strategy of back-up servicing solutions. His deep understanding of collateral debt obligation structures helped him to present the complexities of an asset-backed-security transaction in a concise and understandable manner to his co-workers; this has since become the basis for successful marketing of our services.
Besides possessing a first-class work ethic, Joe is ambitious in reaching the provided and self-set goals. Due to his sound comprehension skills, he quickly learned the business and successfully conquered new challenges. He continually upgraded his knowledge and always put the newly acquired knowledge into high-quality practice. He is a conscientious, self-dependent, responsible employee who approaches and surmounts new challenges in a methodical and systematic manner. Through his determined and thoughtful work, he continuously produced excellent results for our company.
I personally value Joe particularly for his straightforwardness and how he scrutinizes challenges and decisions objectively. Many of his tasks were tied to tight deadlines; deadlines that he constantly subdued, even under difficult circumstances. I am pleased to say that his professional performance was incessantly outstanding.
His relationship with his co-workers and superiors was unremittingly exemplary. He was a determined team-player and a helpful employee who really promoted a harmonious working environment in our company. Through his accurate and positive appearance, as well as his friendly charisma, Joe compellingly managed to represent the company to clients and business partners.
Joe has exceptional English language proficiency that is hard to find in the German labor market. His professional experience in the United States and profound understanding of the Anglo-Saxon culture always enabled him proficiently negotiate with our native English speaking business partners. He was always the preferred source of contact by many of our British clients. I am convinced that his competent behavior, especially toward London investment bankers, has led to strengthen our market position in the United Kingdom.
I very much regret to lose one of my most valued employees. However, I support his decision to further his education since Universum Group does not have sufficient opportunities to cultivate his potential and subsequently offer him an adequate leadership position in the near future.
Undoubtedly, his ambition, integrity, loyalty and leadership skills make him an asset to a master’s program in international business. I am confident that Joe will perform exceptionally well at XYZ business school.
Please contact me anytime if you have any questions about this extraordinary young man.
Best regards,
