The document provides details about Stephen Orzel's position at the Resolution Trust Corporation/FDIC from 1987 to 1995. It describes the RTC/FDIC as the organization formed to handle the liquidation of failed savings and loans during the savings and loan crisis. In his role, Orzel managed the disposition of commercial and residential loans worth $125 million and later assisted in dissolving, merging, or selling over 500 subsidiary corporations from failed savings and loans worth over $1.25 billion in total assets. He created various plans to improve the bailout process, though they were not always implemented.

1. Comprehensive Professional Profile 
An In-depth Examination Of Professional History
Please complete this booklet discussing only one position that you have held within each organization. If you have
held more than one position within the same organization, discuss each position in a separate booklet.
Name: Stephen A. Orzel Title: Subsidiary Corp. Manager
Organization: Resolution Trust Corp/FDIC Dates: From: 10/1987 To: 12/1995
James Kitto, Subsidiary Dept. Head
I. Organization Overview
Please describe in general terms this particular employer. Include such information as industry and relationship to
competitors, size, sales volume, organizational entity, products or services offered, management philosophy,
number of employees, branch offices, plants or warehouse facilities, marketing organization, etc. Also discuss
growth activities during your term of employment with this company.
The Resolution Trust Corp/FDIC (RTC) was formed in 10/1987, via FIRREA, for the “Savings and Loan
Bailout”. The FDIC (who handled just Commercial Banks) established RTC to handle the liquidation of
failed Savings and Loans.
In 10/1987, the RTC placed Hill Financial Savings Bank (with whom I was working for at that time),
located in Red Hill, PA in to conservatorship. By 7/1987, Hill Financial Savings Bank was changed to
the Northeast Consolidated Office of the RTC (NECO-RTC), and moved to Valley Forge, PA.
In 02/1992, NECO-RTC was changed to the Philadelphia Office of the RTC. And on 12/31/1995, as
ordered by Washington DC, all offices of the RTC would be closing with the remaining work being
transferred to various FDIC offices. The remaining assets of the Philadelphia Office of the RTC was
transferred to the FDIC office in Hartford, CT.
With my tenure at the RTC, I spent from 1987 through 1991 in the Loans and Other Assets Dept. During
that period, I managed and disposed of 2,400 performing and non-performing commercial and residential
assets/loans totaling $125 million. During that period, I created the Conservatorship
Audit/Reconciliation Plan that was used the day and during the time that the savings and loan was placed
into conservatorship. This simplified the reconciliation process completed by the acquiring bank during
receivership process.
From 1992 to 1995, I was moved to the Subsidiary Liquidation Dept. During that period, I assisted in
the dissolving, merging, and/or sale of 500 +/- subsidiary corporations and joint ventures in 50 states
from 94 insolvent Savings and Loans, ranging in value from bankruptcy to in excess of $50 million in
assets with active sales exceeding $1.250 billion.
In 1987, I created the “Re-inventing the Bailout Process” by using PNC Banks “Good Bank/Bad Bank
Plan”. Although, I got praises for the plan in Washington DC it was too late to change.
In 1991, I created the “Tobias Knoblauch and Marian Business Plan”, for the Pa. Dept. of Banking. This
was similar to Re-inventing the Bailout Process, but Knoblauch and Marion Banks (privately owned
Name: Stephen A. Orzel Date: 01/04/2005

2. Name: Date:
banks taken over by the Pa Dept. of banking) would be merged creating one entity. After finding out that
funds ($14 million +/-) were taken by the Pa Dept. of Banking from the PA Unemployment Fund to
bailout the banks, I never received a call back from the Pa Dept. of Banking.
II. Characteristics Of Your Position
A. Using an appropriate descriptive phrase from those listed below, indicate this position’s area of primary
responsibility:
Operations Sales Marketing Public Relations
Administration Finance Legal Personnel
Distribution Purchasing Accounting Systems
Production EDP R & D Materials Management
Credit General Manager Owner/Partner Teacher/Instructor
Other:
Operations – Fully understanding Savings and Loan Bank operations during conservatorship and receivership.
Finance - Review of all loan documents for audit/reconciliation purposes during conservatorship and
receivership, and for management and disposition of assets and or subsidiaries/joint ventures.
Legal - For foreclosure or negotiations only.
Accounting – Daily review of Purchase Orders from outside contractors.
Public Relations - During all conservatorships and receiverships is a must.
Personnel – Created teams for branch and bank operations during conservatorship and receivership.
Systems – Adapt to various computer systems from different Savings and Loans.
III. Description and Perception Of Position.
Use the remainder of this booklet to describe, in narrative form, the particulars of this position as they pertain to
the following four categories. Do not be concerned with grammar, punctuation, or sentence structure, but please
write legibly or type your response. It is important to approach this portion thoughtfully, carefully evaluating the
position from each of the given parameters. If you need more space, please use an additional attached sheet.
A. General Description And Purpose Of Position: This section should address your perception of the
purpose and description of the position. Discuss such things as whether it was created, inherited, or the result of
consolidating responsibilities. Include, among others, items such as the position’s role and level of hierarchy
within the firm, i.e. number of employees supervised, functional areas of authority, committee involvement,
financial/budgetary responsibilities and skills required.
One must remember that the FDIC was experienced in Commercial Banks and unequipped to handle
savings and loans. FDIC created the RTC to handle the savings and loan bailout. During the change
from Hill Financial Saving Bank to tht NECO of the RTC, I assisted Stephen Wood, Acting Director in
the creation of a number of internal policies and procedures used during the bailout.
Initially, I managed and disposed of 2,400 performing and non-performing commercial and residential
assets/loans totaling $125 million. In addition, I created the Conservatorship Audit/Reconciliation Plan
that was used by the bank during conservatorship. This simplified the reconciliation process completed
by the acquiring bank during receivership process.
I was moved to the Subsidiary Liquidation Dept., and assisted in the dissolving, merging, and/or sale of
500 +/- subsidiary corporations and joint ventures in 50 states from 94 insolvent Savings and Loans.
They ranged in value from bankruptcy to in excess of $50 million in assets with active sales exceeding
$1.250 billion. I finished audit reviews of subsidiary staff, all current and past financial statements, tax
Revision: 12/12/98
Page 2 of 4

3. Name: Date:
returns, and assets to find the subsidiary’s “True Market Value”. I completed corporate resolutions and
accounting/annual reports (10-Q & 10-K), and finished all weekly, monthly, qrtly, and YE financial
reports in a timely manner.
I created the “Re-inventing the Bailout Process” by using PNC Banks “Good Bank/Bad Bank Plan”.
Although, I got praises for the plan in Washington DC it was too late to change.
I created the Tobias Knoblauch and Marian Business Plan”, for the Pa. Dept. of Banking. This was
similar to Re-inventing the Bailout Process, but Knoblauch and Marion Banks (privately owned banks
taken over by the Pa Dept. of banking) would be merged creating one entity. After finding out that funds
($14 million +/-) were taken by the Pa Dept. of Banking from the PA Unemployment Fund to bailout the
banks, I never received a call back from the Pa Dept. of Banking.
During my tenure with the RTC, I participated in 24 conservatorships and receiverships. Of which, I was
Loans and Other Asset team leader 4 times and Bank Branch team leader 12 times, and Operations team
leader 2 times.
B. Personal Evaluation Of Opportunities and Challenges: Discuss your perception of the challenges and
opportunities afforded within this position beginning with your acceptance of the position through your
disassociation with the position. Further elaborate by summarizing the circumstances surrounding your
disassociation with the position or organization.
I enjoy a challenge and the learning experience, and working for the RTC during the Savings and Loan
Bailout was a dream come true. There were numerous deadlines, and a lot of pressure. Do you know
what pressure is? In my office alone, between 1988 and 1995, there were 5 suicides. One being Stephen
Wood, Director of the office.
C. Your Contributions And Accomplishments Within This Position: The purpose of this section is to
discuss your contributions and accomplishments while in this position. Relate the cause/effect relationships that
transpired during your tenure, using action verbs such as those listed below to describe your activities. Include
duties you performed, policies, or procedures you were instrumental in establishing and implementing, and how
they affected the efficiency and operation of your department or the overall organization. For instance, the activity
creating a comprehensive training program and presenting it to a national sales force resulted in a significant
increase in sales. Or, your investigation and installation of a computer system resulted in improved, cost-
effective administrative and financial functions. Be specific about your personal involvement in this position and
quantify results when possible.
Planned Promoted Administered Coordinated Trained
Disapproved Isolated Recruited Invented Improved
Guided Assembled Investigated Sorted Contracted
Wrote Directed Evaluated Developed Implemented
Created Scheduled Restructured Moderated Arranged
Strengthened Conducted Expedited Rectified Analyzed
Maintained Conceived Controlled Installed Researched
Approved Reshaped Systematized Liquidated Expanded
Governed Enlarged Harmonized Instituted Revised
Distributed Organized Catalogued Established Motivated
Presented Designed Supervised Managed Allocated
Negotiated Presided Examined Grouped Stabilized
Created and administered various policy and business plans to simplify and expedite the Savings and
Revision: 12/12/98
Page 3 of 4

4. Name: Date:
Loan liquidation process.
Designed and maintained various financial and accounting spreadsheet reports for internal and external
use.
Presented numerous cases(Budgets, Expenditures, Foreclosures, Work-outs, Mergers & Dispositions,
and Sales) to the Credit Review Committee for disposition of 2,400 performing and non-performing
commercial and residential assets/loans, and the dissolving, mergering or sale of 500 +/- subsidiaries and
joint ventures.
Assembled and managed various teams for conservatorships and receiverships.
Conducted audit reviews of subsidiary staff, all current and past financial statements, tax returns, and
assets to find the subsidiary corporation’s “True Market Value”.
D. Evaluation Of Professional Experience: Finally, discuss how your association with this organization has
enhanced your overall professional profile and education. Specifically address issues such as product knowledge,
sharpened management, communication, negotiation, organizational skills, or hands-on experience in an area of
previous inexperience.
I enjoy a challenge and the learning experience working for the RTC during the Savings and Loan
Bailout. There were numerous deadlines and a lot of pressure, but our team concept work great. We
learned and grew from each other.
Revision: 12/12/98
Page 4 of 4