Page 1 In The Loop

In The Loop
“John is always there for us.”
- Suzanne Bove

July 14, 2008

Volume 1 Issue 2
Commercial Loan Operations

Getting to Know John Zazzera

You’ve participated in Town Hall meetings with John, collaborated on
projects and have corresponded via e-mail, but this month, In the Loop
will tell you about John’s background and his interests outside of our
Commercial Loan Operations world.

John joined the bank in January after 18 years at GE, where he managed
various divisions, including Commercial Finance and GE Capital. Most
recently he served as manager of the Global Enterprise Client Group
with the added responsibility of running GE’s Dealer Finance business.
John also maintained a board position with GE’s Elfun Society, the
company’s volunteer and charitable arm.

A company’s commitment to community service is important to John,

“This company is really and our Credo resonates strongly with him. “I recall reading it during my
serious about first interview here and thought, ‘This company is really serious about
corporate corporate responsibility.’” Citizens’ and Charter One’s dedication to
responsibility.” Please see John Zazzera on Page 2

Colleagues of the Week

INSIDE THIS ISSUE
It is a pleasure to announce that Colleagues of the Week are now
1 Getting to Know John recognized throughout CLO’s footprint. Since the last issue of In the
Zazzera Loop, these individuals and groups have been honored with the award:
1 Colleagues of the Week • Maria Caliri – Maria has endeavored to consolidate CLO’s
communications by reviving In the Loop. Further, she is
2 Helping Us Reach the establishing a Customer Advisory Board, a forum through which
Finish Line CLO can communicate with the business lines it serves more
effectively.
3 CLO Photo Gallery
• Beth Croston – Beth works with the collateral group in Ohio.
3 Business is Booming While her manager was away on jury duty, Beth assumed
additional responsibilities to ensure all deliverables were met in a
4 Risk Updates
timely fashion.
5 Procedure Updates
Please see Colleagues of the Week on Page 3
5 Calls for Content
 Page 2
John Pitocco’s photo of the
Providence (R.I.) Power Plant
placed first in the “Scenes”
category in the Providence
Journal’s annual
photography contest.
In The Loop
Helping Us Reach the Finish Line
You know the drill. If you need to initiate a maintenance or project
request, contact Suzanne Bove or Tammy Pelletier of the Project
Management, Metrics and Training team. They submit your request and
seemingly, like magic, meet project deliverables on deadline.
Although this team’s talent is unparalleled, Suzanne and Tammy, like
most magicians, rely on able assistants to execute our projects and guide
them toward completion. Among the many colleagues they interact with
– stakeholders, technology experts, risk managers – our Manufacturing
Business Liaison, John Pitocco, works most closely with Suzanne and
Tammy during the project’s life cycle.
As a BL, John is the Project Management team’s first point of contact. He
assists with the initial step in requesting a technology or operations
project within Manufacturing – the completion of the Project Initiation
Document. This form is used to describe the problem, the business line’s
requirements and financial and nonfinancial objectives.
Once the Project Initiation Document is submitted, John’s outreach
efforts begin in earnest. John works with fellow Manufacturing colleagues
to develop overall project cost estimates, such as financial projections,
time, hardware requirements and business line availability.
“In presenting these estimates to the Change Champion (the senior
executive who makes the “go” or “no-go” decision), I advocate for CLO.”
John’s support of CLO is unwavering. Whether outlining the benefits of
the project during the estimate review or identifying the best project
manager for the job, John ensures that our projects receive the attention
they deserve in order to keep them on schedule.
Please see Finish Line on Page 4
John Zazzera from Page 1
philanthropic activity, as well as the bank’s customer-centric philosophy,
was a critical factor in his decision to join us.
“You can believe in volunteerism theoretically, but it’s quite another
story to be down in the trenches, serving your community. I’ve noticed
our colleagues are not afraid to roll up their sleeves and help the people
who need it most in the communities.”
Having served on the board of the Exton, Pa., Little League, John
combines community service with his favorite past time – spending time
with his family. John’s son, Jay, is a baseball standout who is pitching
and batting his way toward the Junior Olympics. A self-described
“baseball dad,” John can be found on weekends at the ball park with his
wife and Jay’s three siblings cheering him on.
Weekdays, of course, John can be found on the other side of a phone call
or e-mail or at any of our five CLO locations. An advocate of open-door
policy, John looks forward to getting to know more about you.
In the Loop will include additional manager profiles in upcoming issues.
 In The Loop Page 3

CLO Photo Gallery

Clockwise from top: Marsha Marchio of

Medford prepares for that site’s CAW
barbecue last month. Leasing Operations
Manager Julie Jasparro delivers a
“Leasing 101” presentation at a
barbecue/training session in Cranston last
week. Cathy Lee serves up barbecue
favorites in Cranston last week while Kevin
Huang looks on.

Colleagues of the Week from Page 1

• Medford – This is not a typo! The entire team was recognized for meeting SLAs during a year
in which it took on the added responsibility of Pennsylvania work.
• Nancy Michaud – Nancy does an excellent job with both SWAP and Escrow processing. The
processes are all manual, and Nancy continues to find alternative short cuts that will help
automate the products in the near future. Her group averages approximately 4,000 Rate Rolls
and 100 new SWAP setups during a normal month.

Business is Booming
All sites are buzzing with activity, so it should come as no surprise that loan volume has increased
significantly. A look at the data that Kathy Cai compiled quantifies the extra work CLO is processing
and servicing. (Figures represent loans booked/transactions through May.)

¾ 4,833 new loans were booked with an origination amount of $18.77 billion – a 37% increase
compared to the same period last year.
¾ The total number of wire transactions increased 15.8%.
¾ 2,934 renewals represent a 3% increase over last year.
 Page 4
Finish Line from Page 2
“John is always there for us,” says Suzanne. “He
has worked well into the night to secure a place for
me at a Project Roundtable meeting for a project
that had to be opened by the end of last year.
“And when stakeholders tried to change the scope
of some projects during execution, John
encouraged me to push back so that we would not
lose focus of our primary objectives.”
This level of intervention exemplifies the true
meaning of business partner, and CLO appreciates
Risk Updates
Many have been busy in recent months – and will
continue to be - with a range of Audit and
Compliance activities - from ICP to PSPG.
Ransom Griffin, who coordinates CLO’s response
to internal and external audits, provides a status
update:
PSPG: Possibly the most involved of all the audit
activities are the 17 remaining PSPG issues. Of
these, 12 are global issues (or those affecting
multiple business lines), and five are local,
meaning they are specifically assigned to CLO.
CLO is making giant strides in its remediation
efforts. As of June 30, five issues - all relating to
testing and awareness of controls (EtP 70) - have
closed. Remediation efforts of all CLO-controlled
issues are on schedule.
Business Continuity Planning: BCP is currently
reviewing all of the information CLO supplied by
June 30. Should BCP identify any issues, CLO has
60 days to remediate any problem.
Improved Controls Program: Last month, all
managers participated in three ICP workshops.
During the most recent on June 27, they created
a Failure Modes and Effects Analysis document to
rate the severity of the issues. This week, the
ICP Working Committee will assess the
document, and, based on its findings, ORC issues
may be opened.
Internal Audit: In addition to following up on
issues raised in last year’s audit, Internal Audit
began this year’s review. Documentation and
In The Loop
having John on its team. When he keeps his
eye on the finish line, CLO closes projects
successfully – just like magic.
To see some magic John creates with a
camera, view more of his award-winning
photos at www.johnpitocco.com.
closing and booking are subject to a
comprehensive, IT-integrated review, and a
targeted review is under way in servicing and
support. By its own estimation, Internal Audit
expects to complete its report by September
5.
Regulatory/Business Line Assurance: The BLA
group conducts risk-based, independent
validations of our compliance programs,
including, but not limited to:
• Policies and Procedures
• Self-monitoring (testing) key controls
• Compliance Structure and Resources
Basel II: To comply with the ongoing Basel
initiatives, CLO is reviewing Shaw records and
file transfers.
These are but a few of the many examinations
in progress within CLO. Others include:
• Federal Reserve
• Identity Theft/Red Flag
• Credit Review
• GLBA
• SOX
Thank you for hosting the auditors, ensuring
that they receive files and related documents
for review and for maintaining SLAs while
assuming these additional responsibilities.
Look for further updates in upcoming issues of
In the Loop.
Page 5
Procedure Updates
To help you keep track of the changes
to the documents that have been
updated on DocuShare, what follows is a
list of the policies and procedures
updated or added since June 3, 2008:
Key Field Validation Procedure
AUDIT CONFIRMATION GUIDELINES
Fees Not Collected at Time of Closing
Who to Call in Commercial Credit
Investigations
Checks and Wires
Daily CMOD Report and SLA Process
Same Day Wire Validation via IMI2
QCA CA7 Second Validation
Key Field Validation Procedure
Balancing Shaw to CF Workbook -
Medford
Contract Entry Floating Rate
Procedure
Federal Reserve Form U-1
Outgoing Wire Validation
ABL Daily Review of High Dollar
Transactions
In The Loop
RBS Call for Content
Are any CLO colleagues involved in
Supergrounds projects - alliances
between CFG, city officials and local
nonprofits to rehabilitate playground
sites in low- and moderate-income
areas? If so, please contact me at
maria.v.caliri@citizensbank.com or at
401-734-5364.
RBS Manufacturing & Community Events
colleagues are looking for stories about
Citizens’/Charter One’s endeavors to
improve playgrounds for U.K.
publications.
August In the Loop Call
for Content
Accepting any and all suggestions for
content for the August issue. Tell me
what topics you would like addressed,
or submit content about your success
stories, credo moments and more.
Looking forward to hearing from you.
~ Maria