Structured Finance Industry Group Inc

“The by-laws were updated to reflect the newly created positions of ceo (replacing executive director) and president; to define the roles of ceo, president, and coo; to name successors for each of those positions should the current officers become unable to fulfill their duties.”

“Structured finance industry group had approximately 360 members as of december 31, 2019. There are two types of classes as defined in the sfig by-laws. Primary memberships are open to institutional corporations and associate memberships are open to individuals (non-voting rights).”

“Structured finance industry group had 41 institutional members on its board as of december 31, 2019, most of which serve on one or more committeess. Actions taken by the standing committees as defined in the bylaws are approved by bod during the quarterly meetings”

“The chief operating officer reviews the 990 in detail with the controller prior to filing; general review is also conducted by the ceo and the treasurer.”

“Per our bylaws article vii, committees, section 5, quorom & voting - if a member is comprised of multiple entities, each performing an independent function (e.g. Financial guarantor, issuer, broker/dealer, investor, etc.), such member's representatives shall be entitled to vote in more than one committee; provided that such member, with regard to the committee at issue, does not have a conflict of interest with respect to the subject matter of the relevant vote including, for example, on account of the control of one related entity by another or the overwhelming interest of the institution as a whole. Any committee member who believes that another committee member has been improperly permitted to vote on a matter where the relevant member has such conflict of interest may appeal such conflicted committee member's vote to the executive director, who shall review and decide whether to permit the vote to count, in consultation with the executive committee. The decision of the executive director, in consultation with the executive committee, shall be appealable solely to the conflict resolution committee.”

“Structured finance industry group has organized a compensation committee that consists of six (6) members: at least four (4) members of the board, of which at least two (2) of whom shall not be officers, and up to two (2) non-board member representatives. The compensation structure for sfig is to a degree discretionary, due to the requirements of staff needing to apply a significant degree of structured finance expertise combined with skillsets related to d.c. Advocacy within a non-profit/trade organization structure. This hybrid experience requirement makes specific benchmarking difficult in that the availability of relevant public data is extremely limited. As such, the organization relies upon the deep experience provided via the members of the compensation committee across multiple industry platforms, giving regard to the following five key factors: i) knowledge of existing compensation for successful candidates (benchmarking to similar positions), ii) knowledge of required compensation for all viable candidates (i.e., those selected for interview (range bounding compensation), iii) reference to budget based off assessment of achievement of individual, departmental and corporate goals that are established annually, iv) reference to generally "well-known" financial services compensation models, and v) benchmark against other associations of similar size and nature with specific emphasis on key ratios such as salaries to income, salaries to profits, salaries to membership fees. The process also applies to other officers and key employees of the organization.”

“Financial statements are available upon email request. By-laws are available to members only, by email request.”

“We are a member driven organization, and our comment letters reflect the opinions of our membership. Individuals contributing their opinions may be approximately 1,000.”