Deloitte’s securitization capital markets services team comprises professionals serving clients across a range of different asset classes, including the four award-focused structures: CLO, RMBS, CMBS and ABS.
“I take great pride in our portfolio because we’ve built specialised teams across the various asset classes,” says Lisa Hernandez, securitization solution leader, at Deloitte & Touche LLP. “One of our key differentiators is that we have dedicated teams and people with decades of experience across all four asset classes.”
Deloitte distinguishes itself in its ability to help clients with problems that extend beyond agreed upon procedure transactional services. “The breadth of Deloitte allows us draw on experience from various parts of our organisation and provide specialised insight to our clients,” says Hernandez. “Our clients expect Deloitte to provide solutions that help them address their problems.”
Additionally, Deloitte combines its industry specialisation with the ability to draw on an expanse of knowledge across the Deloitte Touche Tohmatsu Limited network of member firms in different sectors and jurisdictions. This means that when a client has a question that relates to operations or transactions outside of the US, the team can quickly connect them to their global network of Deloitte specialists.
“There are many times when clients have called about a transaction in another jurisdiction asking for help and I can easily call one of my colleagues in that jurisdiction and get them involved,” says Hernandez.
Deloitte’s experience in various areas of securitization is particularly important given the market’s innate complexity and rapid innovation. The securitization markets have changed massively in just the last 10 years. Deloitte’s professionals continue to have eminent roles in key trade associations and advocacy groups, assisting in the interpretation of regulatory or accounting changes affecting the capital markets.
“We mobilize teams quickly whenever proposed legislation, regulatory or accounting changes arise so that we can be ready with answers for our clients before the questions start to come in,” says Hernandez.
Deloitte’s dedicated teams can provide a more streamlined process for their securitization clients, providing insights into potential solutions or improvements. “Given the range of clients we serve, we’re able to pick-up on things we’ve seen in other transactions, or elsewhere in the market and make recommendations—and our clients appreciate and expect that.”
This unceasing focus on understanding and helping clients meant that when the pandemic arrived it had little impact on how Deloitte’s securitization team went about day-to-day operations. “To be totally honest, other than working from home, I would say working in securitization in 2020 was no different from any other year,” she says.
Deloitte listened to its clients, as it always does, and made sure it understood their specific needs. “We have always been highly involved from a policy standpoint and 2020 was no exception.” For example, Deloitte played a key role in coordinating an industry response to the pandemic through the American Institute of Certified Public Accountants (AICPA) and a Task Force comprised of various accounting firms, advising the government on recommended changes to consider on the resurrected Term Asset-Backed Securities Loan Facility (TALF).
“We were constantly on calls with the AICPA and the Task Force, making sure that there was a collaborative reaction to TALF.”
Just a normal year for Deloitte – a worthy winner of these awards. GC