If you are interested in this candidate, please contact Richard Lalchan via email rlalchan@cerfinancial.co.uk or call on 0207 626 6065.

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PROFILE:

With over 25 years of progressive experience spanning a Big Four accounting, consulting and corporate finance roles, as well top global investment banks, I've led teams in diverse jurisdictions across EMEA/ US, and globally at Bank. My experience spans across all three line of defence, Audit, Risk/ Compliance and Front Office control. I led extensive regulatory CCR Exam, Archegos and Malachite remediation on behalf of the first line Derivatives and Solutions audit function, interacted with key US (FED, OCC) and Swiss (FINMA) regulators, and supported the bank’s continuous efforts on improving the risk and control culture. Most recently I got responsibility over portfolio of high-profile integration reviews.

I am a standing member of several global Steering Committees overseeing regulatory (e.g. Fundamental Review of the Banking Book), and project deliveries (e.g. Multi-asset Cloud based Risk Platform), as well as key contact in Country & Regional Risk Operation and Production Committees for Global Markets and IB.

The depth and diversity of my experience provides me with rare opportunity to identify material risk and controls gaps and offer methods of improvements in line with best industry and regulatory practice.

Investment Bank:

I oversee/ lead global audit coverage for the D&S EMEA/ US pod and relevant D&S integration RAUs (risk audit units), including key Credit & Model risk liaison on behalf of the IB audit. While my local line management is limited to EMEA based team, my functional coverage includes both EMEA and US teams, which is expected to grow with CS integration.

My most recent portfolio includes following RAUs: D&S Counterparty Risk Management, Front Office CCP Risk, HOLT/ DELTA SAS (Software as Service), Quantitative Investment Solutions, AMC, Global Equity Derivatives, Fund Derivatives, Structured Financing, and FI Solutions, incl. Rates, Credit and FX Derivatives, and Bondport).

My prior years’ experience included Debt and Equity Capital Markets, Research, M&A & Private Equity Advisory, Project Finance, Trade finance / on lending and Fraud Task Force / Investigations, and various regulatory remediation programs, incl. LIBOR Transition, MIFID, EMIR, FX Consent Orders, etc.

Key Responsibilities:

Planning and development of audit strategy and audit delivery for the D&S Front Office Risk areas of the Bank; oversee execution of the D&S EMEA/ US audit plan, incl. audit reporting & senior stakeholder interaction, personnel/ staff line manger responsibilities (training, development and human resource related matters).

Represent D&S GIA in engagement with regulators (FED, OCC, FINMA, PRA/FCA,) including coordinating audit response for ongoing portfolio of issues, prepare and submit regulatory response on behalf of GIA as part of the Bank’s periodic meetings, and during regulatory exams.

Oversight several global reviews on key topical areas of risk impacting D&S incl. Counterparty Credit Risk, CS Integration, Data Management and OPT

Initiate and implement global alignment of audit coverage across GIA teams (Credit risk, Model risk, Market risk, Compliance, Operations, and Technology, to ensure consistency of audit deliveries and business risk assessment to break GIA silos.

Actively engage with GIA Data Analytics and GIA Strategy development teams incl. building predictive and advanced analytics for continuous risk assessment and driving operational audit planning towards High/ MH risk NFR taxonomies coverage.

CAREER HISTORY:

2018 – PRESENT

Banking

Chapter Lead, Derivatives and Solutions, Investment Bank, Group Internal Audit

• Managing portfolio of IB, GM and D&S RAUs (Risk Audit Entities), inc. Front to Back and Targeted Supervisory and regulatory reviews, Operational Planning, Backstop Control review, Quarterly / Annual Continuous Risk assessments review
• Other tasks incl. training and development of the D&S Crew staff, managing relationships with senior stakeholders in IB, GM and D&S, and respective individual business and desk heads, Tier 1 Program monitoring, incl. Fundamental Review of the Trading Book (FRTB), AQUA (cloud based risk management system), EMIR REFIT, LIBOR, and others, and maintaining of IB FTB Audit Coverage Matrix and Risk Taxonomies guidance, Risk and Operating and Risk Committees, Working Groups and Steering Committees, and participation in Audit EC when required.
• RAUs – Chapter Lead 2023 - 2024 :Quantitative Investment Solutions & AMC Front Office Counterparty Credit Risk, UBS Bond Port, UBS Delta, CS Issues Look across Central Cleared Counterparties Risk Management, FED CCR review , , UBS Delta/ CS HOLT (SAS – Software as Service, CS Look Across, Bond Port, Rates Options, UBS ESE IB Branches, Global Equity Derivatives Flow, Securities Borrow Lending, Management Hedges, Archegos/ Malachite Remediation (FINMA Deep Dive HF Risk review), 2022/ earlier: Global Structured Financing, Global Equity Derivatives - Fund Derivatives, LIBOR Transition Fallback and Back Book, LIBOR Product Enablement, LIBOR Transition Conduct Risk, Central Risk Book (Equities), Global Research, MIFID, Global Macro Rates (flow and exotic/ structured products); Global Credit flow, Global Credit Execution Global STIR, incl. eTrading governance, pricing and execution, etc.

2015 – 2018

Banking

FXLM/ Rates Internal Audit, Vice President

• Covering a portfolio of EMEA Markets integrated audits (incl. Technology, MQA (Markets Quantitative Analyses), etc.) across the wide spectrum of the products and countries, regulatory and ad-hoc investigations, business monitoring reviews, issue validation and risk assessments.
• Review and issue of the audit and business monitoring reports, audit / issue validation / annual risk assessments/ audit plan updates. Quarterly updates with the Desk, Regional and Global Business/ Product Heads, as well as with the second line of defence functions (Compliance, Market / Credit Risk, Operations, PC/ Finance, Data Management, MQA, etc.)
• Audits: eTrading and CIO (Client Intelligent Orders) Execution; Government Sponsored Enterprises (Rates/ Global Securitized Markets); Global FX Options (exotic/ structured options); Global XVA (CVA/ DVA/ FVO, etc.); G-10 FX SPOT; STIR (Short term Interest Rates); FX Prime Brokerage; M&B Data Management (OCC Part 30), FXLM Sales; CFTC Active FX Benchmarks; FXLM CEEMEA Hub Sales and Trading, etc. various regional EMEA entities (Czech, Cameroon, Israel, Russia, etc.)

2011 - 2015

Investment Banking

Deputy Head Internal Audit, Associated Director

• Deputy Head of Internal Audit, participation in Operational and Risk Committees, liaising with intragroup auditors, conducting annual review of the audit universe and submission of the annual audit plans
• Managing the EMEA audit team covering wide spectrum of front to back, and back-to-back audits with APAC and AMER teams, FCA Regulatory and various ad-hoc assignments and investigations; Review, preparation and issue of the audit reports and business monitoring documentation
• Close interaction with the Business Heads, Credit / Market / Operational Risk, Research, Compliance, Legal & Transaction, Middle and Back offices, HR.
• Administrative Tasks involve audit team resource management (recruitment, annual assessments, regular catch ups, etc.), annual audit plan refresh and recruitment.
• Audits: Equity / Debt Capital Markets, OTC Derivatives; Model Validation, Research, Convertible Bonds; Government Bonds; MTNs / Syndications; Research, Collateral Management, Compliance, Repo Desk, Market Risk, Equities Sales and Trading, Tax Review, Legal and Transaction Management, Bahrain / Geneva/ Moscow entities, DC Advisory (Frankfurt, Paris, Madrid branches), etc. Ad-hoc reviews: FCA RMP follow up review, Risk Division Management assessment, Bribery Act, Management of the Foreign Exchange Risk, CASS, ILAA, Remuneration Code; GEF Error review, BoNY REPO operations Review, etc.

2005 - 2011

Banking

Principal Auditor, Project & Equity Finance, M&A, Corporate Finance

• Managing a team of auditors conducting reviews of Private Equity, Project Finance, Credit Risk, Portfolio Analyses & Monitoring, Sovereign Debt, Corporate / Financial Institutions Lending, and Compliance & Special Investigations
• Review of the financial, technical, and legal due diligence process; assessment of the valuation and pricing mechanisms (including review of the financial models)
• Close interaction with the Operations Committee members; Managing Directors and Business and Industry Team Directors, Heads of the Portfolio Monitoring and Credit Units, Chief Compliance Officer, General counsel, etc.
• Report issue and presentations to the Executive, Audit and Board Committees
• Teams covered: Financial Institutions, Trade & Structured Finance, Natural Resources, Telecom, Agribusiness, General Industry & Commerce, Credit Risk Assessment & Pricing; Credit & Portfolio Risk Monitoring; Operations Approvals, Integrity Due Diligence, Private and Public Sector Banking Projects Procurement, etc.

2004 - 2005

Financial Services

Corporate Finance, Vice president

Key responsibilities related to negotiations between the parties on the deals, industry and business analysis and valuation both for clients and direct investment purposes, coordination of external advisors:

• Russia: Timber producer and exporter – OTC listed shell company; valuation, external advisors management and execution; Cable manufacture and distributor – Information Memorandum preparation, valuation, strategy and restructuring.
• Kazakhstan: Cement producer - disposal of 100 % subsidiary shares, Valuation, Information Memorandum preparation; negotiations with the potential buyers.
• Ukraine: Diversified energy & manufacturing holding – Information Memorandum preparation, AIM consulting; Oil & gas holding merger of the oil and gas production subsidiary with listed company, gradual merging of the rest of the group into the listed holding

2001 - 2004

Professional Services

Experienced Manager, Advisory / Transaction Due Diligence/ Audit

• Acquisition/ Disposal Due Diligence and Valuations, Transaction Advisory, IFRS/ US GAAP restatements and audits, various ad- hoc consultancy assignments in Financial Institutions, Mining and Natural Resources, Oil & Gas Energy and Telecommunications, Consumer Goods and General Manufacturing sectors, ex: ¨
• Financial Due Diligence of the potential acquisitions for AFK Sistema Group, public company, listed in the USA and Russia
• Merge modelling and acquisition for OVK/ Rosbank; Russian statutory and IFRS audit management, execution, and issue
• Target acquisition and due diligence of Polus Gold for Norilsk Nickel
• Share disposal due diligence for supermarket chain, IFRS restatement.
• Norilsk Nickel – Group IFRS Audit planning, management, execution and reporting, management of the team of more than 20 staff; property, plant and equipment valuation; etc.
• IFRS/ US GAAP restatements and audits: Procter and Gamble, British American tobacco, Colgate, MTS, Beeline, Armentel (Armenian fixed line and mobile operator, etc.),

EDUCATION:

• CFA (L3), CFA Institute
• ACCA Charted Accountant
• Master of Finance, University
• Bachelor of Economics, University

References Available Upon Request

If you are interested in this candidate, please contact Richard Lalchan via email rlalchan@cerfinancial.co.uk or call on 0207 626 6065.

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