Employee Feature: Cory Schoenherr

Cory SchoenherrIn late 2019, we welcomed a new addition to the Bank's Enterprise Risk division. Cory Schoenherr joined our Credit Risk Governance (CRG) team, assisting in Member Collateral Verification (MCV) support processes and reporting.

In his new role, Cory supports the MCV Collateral Review Analysts by preparing pre-MCV information and creating a sample loan list of loans that members have pledged to FHLB Des Moines. He also works to close out MCVs once the collateral review is complete. Along with Michelle Wonders, Cory serves as the conduit for assisting members though the pre-MCV support process. In just a few months, Cory and Michelle have offered several improvements that will streamline parts of the MCV process, notably on assisting members with the reporting of eligible collateral when reporting via Borrowing Base Certificates (BBCs).

"I believe the fresh pair of eyes I was able to provide on the MCV process was beneficial for finding ways that would improve not only efficiency, but the time and effort spent on a process that had been set in its ways,” said Cory. “This improvement should stop members from sending along too much information while also cutting down the back and forth of communication when more information is needed".

"Any manager would be pleased to see recommendations early on, but to see how this team is leveraging each other's ideas to promote efficiencies and improvements is managerial nirvana,” said Collateral Review and Compliance Manager, Tony Acker. "There is a great excitement here about what this team can do to improve the efficiencies in our support role."

Prior to this role, Cory was a summer intern with the Member Financial Operations department. In this role, Cory worked with members on a number of activities including keeping contact information updated and facilitating the distribution of various audit confirmation reports.

Cory is a 2019 graduate of Wayne State College in Wayne, Nebraska where he majored in Finance and played football. Cory is very involved in the community and loves being active, reading, and watching great TV or movies (which he is always looking for recommendations on!).

Welcome to the team, Cory! If you would like to reach Cory, you may email him at CSchoenherr@fhlbdm.com.