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

00281126

EDUCATION:

2013 – 2015: Business School

Executive MBA alternative, Program for Leadership Development

2003 – 2004: College, University

MSC in Mathematical Finance (Part-time). Oxford Centre for Industrial Applied Mathematics

2001 – 2002: College

MSC in Transport, Civil and Environmental Engineering Department

1997 – 2001: University

BENG in Transportation Management Engineering, Department of Transportation

CAREER HISTORY:

FINANCE:

January 2024 – Present

Wealth Management

Self-Employed

• Principal advisor of this financial advisory firm, an appointed representative, to provide FCA regulated advice in pension, protection and investment to clients.

July 2022 – December 2023

Mortgage

Self-Employed

• Principal advisor of mortgage advisory firm, an appointed representative, to provide mortgage service.

July 2020 – August 2022

Venture Capital Firm

Limited Partner

• Limited Partner of this Venture Capital firm focus on deep tech start-ups in AI.

April 2019 – August 2019

Properties

Family Business

• Founding family business to invest in property market in the UK for capital growth.

PRODUCT CONTROL

April 2023 – December 2023

Electricity And Gas

Contractor

• Product Control contractor covering all derivative products. This include validation and publication of a consolidated Trading Profit and loss on a daily basis, get agreement from the traders and written explanation of the P&L movement.
• Support with the rolling out of the new PnL reporting system. This covers from UAT testing, Parallel run to production going live.
• Prepare Daily summary of price moves, various month end reports and reconciliations for financial control and treasury, monitor inter-company balances, futures reconciliations and curve validation to external sources.

September 2019 – July 2022

Financial Institution

Contractor

• Project manager responsible for accounting integration following the acquisition of a German bank (400 professionals) as part of its Brexit strategy.
• Design new Chart of Accounts for both Profit and Loss and Balance sheets; update combined Management Accounts; prepare month end journal entries (100,000+ entries); reconcile Subledger and General Ledger; agree on lease adjustment / VAT booking / bonus accrual; review with CFOs on GAAP and IFRS financial reporting for based on international and local standards (UK, Germany and US).
• Responsible for all finance elements of implementing new post-trade processing system. Work involved project management, redesign of current finance process, and UAT testing.
• Design and run daily consolidated PnL reporting process pre and post implementation.
• Products including Fixed Income, Equities, ECM and DCM. Draft technical specifications from product control perspective, design accounting test cases (debit and credit posting, cancel and amends, different cross currency and settlement venues, periods open and close, FX, FOBO auto reconciliation). Speak to the desk heads and head of operations on process changes, raise requests to vendors (IT system provider, local IT RAD, custodian banks).

February 2018 – March 2019

Banking

Product Control, Director

• Running Product Control valuation.
• This role covers supervising daily activities and managing projects. Project work is mainly product control focus projects, system immigration, new policy and procedure definition and Brexit projects. BAU work include supervising PnL Line functions such as PnL production, balance sheet substantiation and IPV process for products including Fixed Income, Credit, Equity, Commodity, M&A, DCM and ECM business.
• Draft bid offer policies for all UK business for Board approval; agree with quants and market risk on valuation process; review any items submit to regulators; finance representative in model validation steering committee.
• Project highlight including finance support on Softbank global IPO and distribution.

July 2013 – January 2018

Banking

Product Control, Senior Manager

• Building up Product Control functions for London office. Running PnL Line functions including PnL production, balance sheet substantiation and IPV process for Fixed Income business.
• Enhancement of 50+ PnL production and PnL Explain procedures. Review and approve manual balance sheet journal entries.
• Re-designing IPV and Bid-Offer Reserve process for London and Asia trading.
• Owner of Weekly MIS to Global Head of Product Control, and Monthly MIS pack to Global / Regional Head of Fixed Income Trading.
• Supervising junior team members on PnL production, Balance sheet substantiation, and IPV process.

August 2009 – July 2013

Banking

Product Control

• Subject Matter Expert for Commodities assets setup. Define asset setup process of 11,000+ commodities assets in various trading systems, supervise implementation.
• Product covering all commodity asset classes traded by Barclays Capital, including crude and refined, base metals and precious metals, coal and emissions, power and gas, commodities indices, exotics and hybrids etc. Product range include both physical and financial products.
• Supervising setup process to ensure quality of 4,000+ tradable commodity assets, including forward curves, volatilities surfaces, correlations and other associate matrices cross various commodities asset classes. Provide sign off on user access to various portfolios, creating specifications and sign-off testing for key projects.

Commodities Indices

• Supervising Commodity Index Market data management, this role include managing a global team for daily commodity index market data from middle office perspective: daily reconciliations between in-house index calculation engine and vendor’s provision, build new index assets for trading, and maintain 3,000+ index assets.
• Commodity Index Auto-reconciliation project. Drafting functional specifications with Business Analyst, cost benefit analysis for prioritisation, escalation project resource with global COO, Compliance and Trading during steering committee meetings, user UAT testing with IT, sign off for production release and train all users, and post-implementation benefit analysis.
• Flagship project iPATH testing and production, which enable various enhanced commodity indices tradable via Barclay’s own online platforms for retail and professional customers.

Regulatory Reporting

• Commodity Futures Trading Commission (CFTC) regulation reporting strategic solution project in response to Dodd-Frank Act.
• Running monthly reporting process on large client net exposure to all commodity products. The same report is later required on a daily basis.
• Project management on drafting business functional specification with BA, involving in regular steering committee for progress and prioritisation, user UAT testing and implementation to production, and post-implementation efficiency analysis. This high-profile CFOC project involves product control, middle office, trading, operations, compliance and IT.

Process Improvements

• Directly report to Global Head of Product Control of Commodities, Own Credit and Fund Solutions in this role.
• Finance Process Improvement Coach for Commodities, Own Credit and Fund Solutions. Supervising and monitoring each area’s process savings and manage submissions to Finance-wide initiatives.

Crude and Refined

• Supervising direct reports on setup all assets required by trading desks. Assets include vanilla forward curves, financial curves and bespoke margin curves in Openlink and physical curves in Solarc Right Angle.
• Challenging trading desks on asset requirements against various Product Control Policies. From product control perspective, review market data observability, trading intent, trading execution date and time and arrange Pre or Limited Trading Approval requests for PnL reserve, model calibration, and IPV review when necessary.

Power and Gas

• Project manager in restructuring all forward curves and volatilities structures for European Power and Gas business. This involved daily communication and chair project meetings with Head of Trading, Operations, Product Control Line controllers, IT and other supporting areas.
• Supervising 100+ asset setup, 500+ asset decommission, and provide expert advice on implementing 30,000+ trades migration.

Exotics and Hybrids

• Supervising asset setup during PnL process upgrade and ensure market data are accurate.
• Review market data provisions submitted by other external vendors and have corrected NYSE and Standard & Poor’s official published figures in Commodities assets.

Special Projects

• Supervising all commodity FO/BO user access to ensure right accesses are given to the right members.

May 2007 – August 2009

Financial Services

Structured Credit

• Products including single name CDS and Cash products with 15billion USD books
• Daily trade & risk position verification, Intra-day Risk and P&L reporting, investigation of discrepancies between posted & reported PNL numbers.
• Development of new operational End-of-Day procedure.
• Various UAT testing for structure credit trading environments, including TriOptima for EUR single name and Index unwind cycles; Portfolio Compression for all European names cross global books. Monitoring pre/post counterparty credit risk exposure.

CDO (European Mid-Market Loan Markets)

• Daily reporting for CLO deals cash flows positions, MTM, and reconciliations cross various in-house (FO/MO/BO) systems and against external SPV / trustee banks.
• Acting as Investment Manager for certain CLO deals’ closing. Liaisoning with various agent banks, producing all closing documents and managing transferring between SPVs.
• Maintenance and optimization of trading desk tools (Excel and VBA Macros based) and development of new tools for CDO/CLO businesses

Special Situation

• Assessing current Real Estate Capital Market business procedures and discussing with management for potential optimization options (developing new tools, interaction with external clients, migration to new systems etc).
• Developing VBA based tool for management to understand high level business performance and feasible organizational restructuring proposals.
• Daily trader support activities for European Structured Asset Finance business. Liaison business requests among WBNA (USA entities), WSIL (UK entities) and WBI (Ireland entities).

Equity Derivative

• Designing and coding Equity Derivative PnL reconciliation tool to verify and explain PnL among multi currency asset-class books.
• Review and sign-off Equity Derivative Trading and Equity Sales daily blotters and FSA Submission reports.

August 2006 – May 2007

Financial Services

Credit Hybrids Middle Office

Global HQ Business Control function. Liaison between EMEA, NA and Asia Front Office, Middle Offices, Back Office, counterparties for resolving internal DTCC breaks, Nostros breaks and inter-entity breaks.

• Products knowledge including CDS, CDS Index, CDS Index Tranche, CDO, IRS, etc.
• Producing weekly MIS report for all internal entity trading activities.
• Carrying out and also supervising SOX testing for in-house trading applications.
• Integrity check/Descope audit for 90,000 CDS trades migration to new trading system.

September 2002 – August 2006

Consultant - International Assignments

• Seconded to overseas branch as international expertise providing training, commercial and technical support for local projects.
• Design Transport solutions in London and Beijing Olympic Games
• Management Consultancy Assignments
• Secondment, providing technical analysis for Department for Transport New Franchise schemes. Spreadsheet modelling on economic impact analysis.

QUALIFICATIONS:

2021 – 2023: Higher Education

CeMAP DipFA PETR FPIR AdvDipFA

2020: University

Artificial Intelligence Programme

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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