OTC derivatives and Risk Management change specialist

October 2017 to January 2019. Credit Suisse AG (Private Banking & Wealth Management / SUB & IWM), Zürich, Switzerland. CRO Change (Credit Risk). Delivery Manager IMM Programme.
Managing a team of seven (five BAs & two credit quants) in Credit Risk Change and coordinating project teams across FO ITS Platform Management, CFO Change & RFDAR Change to implement and migrate SUB/IWM uncollateralised clients to IMM in line with Basel iii. Targeting RWA savings of CHF 4.5BN. Programme delivery includes;

• Business case management for integration with CS Group capital planning;
• Implementation of EPE and ACVA models;
• Updates to counterparty credit risk framework, procedures, policy, end-to-end control framework, reporting and IT infrastructure;
• Management of regulatory affairs including regulatory communications and IMM waiver application.

August 2015 to September 2017. Credit Suisse AG (Private Banking & Wealth Management / SUB & IWM), Zürich, Switzerland. CRO Change (Credit Risk). Lead Business Analyst (Stream Lead April 2017 onwards) BCBS/IOSCO Margin Rules Programme.
Leading a team of three (two BAs & one credit quant) and seconded to MRP, CS ex-PBWM’s response to the BCBS/IOSCO guidelines (implemented through EMIR and FMIA/FinfraG) for margining of non-cleared OTC derivatives. CRO programme successfully delivered including;

• Automation of Credit Risk processing for ISDA CSA collateral in PBWM infrastructure and processing including trade, counterparty, collateral & legal data and haircuts sourcing;
• Potential Exposure (PE), pre-deal inquiry and ACP methodology updates to account for exchanged collateral and ISDA master agreement and ISDA CSA legal opinions;
• Limit management updates including;
  • Implementation of new credit line with associated manual & automated controls and risk reporting;
  • Implementation of new GUIs and updates to existing GUIs to integrate new methodology and data to limit management;
  • Implementation of methodology and processes to support parallel ISDA CSA and deed of pledge collateralisation;
• Wrong Way Risk (WWR) implementation including business governance policies/processes, strategic data sourcing and methodology to meet regulatory requirements and allow for further non-regulatory extension of WWR;
• UAT test management;
• Business handover management including
  • Updates to counterparty credit risk framework, procedures, policy, end-to-end control framework and reporting;
  • Training of c.250 users across Credit Risk Management (CRM), Relationship Management (RMs), Sales and, Trading) on new functionality.

 
October 2012 to August 2015. Brickendon Consulting, London, UK. Principal Consultant.
HSBC, Regulatory Compliance. Solution Architect, Nexus Reporting (CFTC & HKMA) and HKMA Compliance Day 2 (October 2014 to August 2015).
Definition of end to end solution for CFTC / HKMA Nexus reporting and HKMA Compliance Day 2, Regulatory Reporting including;

• Reference data strategic sourcing across all regulatory regimes;
• Process automation.

HSBC, Regulatory Compliance. Lead Business Analyst, EMIR Compliance Day 2 Delegated Regulatory Reporting (March 2014 to October 2014).
Operating across 5 derivatives asset classes (Commodities, Credit, Equity, FX and Rates), nine primary trading platforms (including Calypso, Murex and Summit) and a real-time FpML based trade repository/reporting solution.
End to end owner of Business (leading a business change team of two BAs) & IT (through Agile Product Owner role) requirements and testing for EMIR Compliance Day 2 Delegated Reporting of trade valuations and collateral exchanges.
HSBC, Emerging Markets. Lead Business Analyst, FO IT (October 2012 to March 2014).
Leading a team of 9 business analysts undertaking a programme of work to migrate risk management of the EM OTC (Credit, FX, Rates) portfolio from xFOS (Murex MX3.1.25), to Summit (v3.3/v5.5) HSBC’s strategic IRD risk management system and all downstream support areas (Middle Office, Credit Risk, Market Risk, Product Control, Regulatory Reporting and Back Office) to strategic front to back architecture and processes.

• Covering EMEA portfolio including full analysis and implementation in target architecture for parallel run of all static and market data required for risk management and front to back processing;
• Trade modelling between Murex and Summit and implementation of Murex to Summit / Calypso interface (MXML to FpML mapping);
• Analysis and requirement gathering to allow convergence to single pricing library / market data set / valuation methodology and F2B processing (Credit Risk, Market Risk, Collateral Management, Product Control valuation control & GL validation, settlements, confirmations, cash management) of IRDs;
• Definition of strategic, front to back processing of non-deliverable swaps (NDS) for all businesses;
• Definition of front to back migration and testing strategies;
• Front to back UAT management.

July 2010 to September 2011. HSBC, OTC Derivatives Post Trade IT, London UK. Senior Business Analyst, New Implementations Team
Globally rolling out strategic BO OTC derivatives solution DTP (Calypso v6 + in house Java code). Role included mentoring of two lines SMEs as they were retrained as BAs and integrated into the change team. Projects successfully delivered;

• EMEA implementation for structured IRD trades (FO: Summit MUST), providing full BO solution for settlements & confirmations and support for downstream stream processes including notional & cash accounting to general ledger and cash management. Front to back implementation including definition of new products / workflows in DTP, XML message definition, accounting schema definition and management of end to end testing;
• EMEA migration of cash flow hedge and SIV IRDs (as above);
• Americas IRD implementation, full BO solution for vanilla and structured IRDs (as above).

June 2007 to July 2010. Credit Suisse AG (Investment Bank / Global Markets), London UK. AVP Project Manager / Business Analyst, Equity Derivatives Change Team.
OTC EQD FO change team within the Strategic Derivatives Infrastructure Initiative managing and delivering front to back solutions. Projects successfully delivered;

• Retirement of legacy fungibles pricing system across EQD and FID including migration of c.200 risk portfolios (1,000+ trading books). Implementation included the re-engineering of Product Control processes to make use of improved pricing data.
• Implementation of strategic exotic EQD and Fund Linked Products pricing, valuation and trade capture framework including migration of c.11, 000 structures to new framework. Implementation covered;
  • Definition and implementation of sales / trading RFQ workflow.
  • FO trade capture with configurable defaults which reduced manual error rates through use of product specific trade capture templates in pricing / risk system enabling MO rationalisation. Also improved quality of data capture and downstream processing by defining and capturing all data at in FO trade inception.
  • Improved valuations through implementation of product specific valuation models.
  • Improved control environment through use linkage of product specific trade capture templates to Quants controlled VM library.
• Implementation of product labelling solution to support downstream processes e.g. fair value levelling.

June 2005 to April 2007. JP Morgan, WSS, Global Derivatives Services, Bournemouth, UK.
Client Onboarding Project Manager (December 2006 to March 2007)
Delivering initiatives on Summit for external clients. Responsible for client interaction, project and delivery management. Client on-boarding projects successfully managed to completion;

• Phase 1 of a programme for a GBP30BN UK pension fund providing independent valuations for inclusion in NAV and broker comparison for CDS, IRS and Swaptions. Analysis and infrastructure build also completed to allow further products and fund managers to be added.
• Client on boarding of a GBP4BN pension fund for a UK subsidiary of a global firm. Undertaken as a test case by parent company before signing up their internal pension fund to GDS services as above.

Business Analyst/SME (January 2006 to December 2006).
Responsible for defining and documenting business/functional requirements, use cases, test strategies/scripts and test management. Projects successfully delivered;

• Creation of reconciliation team / process to address funds accounting breaks, including analysis, set up and training of team; design, build and implementation of new reconciliation system and process re-engineering internally and externally with clients / third party vendors.
• Client on-boarding to Summit covering 4 funds / 14 products including STP trade capture of CDS, IRS, Swaptions, Inflations Swaps for a global asset manager.

OTC Supervisor (June 2005 to December 2006).
FSA covered role with responsibility for a cross asset team providing MTM and collateral valuations, fund accounting, lifecycle / settlement management, reconciliation and analytical services. Responsible for;

• Day to day transaction management and NAV production including oversight of accurate / timely processing of OTC trades & transactions to core and end user systems;
• Escalation / query management;
• Continuous review of controls/processes for optimal BAU production;
• People management including regular 1-2-1s, mid-year and year end performance review;
• Supervisor of first operationally live team.

April 2004 to December 2004. JPMorgan IB Operations Derivatives, Bournemouth, UK. Team Member, Client Focus Team.
OTC derivatives cross-asset client service team working in English, French, Spanish and German. Responsible for;

• Pre and post settlement queries;
• Resolution of counterparty trade / settlement discrepancies and Nostro breaks;
• Liaising with MO/FO teams to resolve issues and improve performance;
• Management of MIS for root cause analysis / process enhancements.