Expert in Finance, Operations, Risk Management, and Compliance-Related Matters
Expert ID: 736145 New York, USA
Expert also has extensive experience in building sales and trading businesses, running the operations of these businesses, regulatory expertise, and managing people. Currently, Expert serves as Head of Risk Management and sits on the Investment Committee at a NY-based Registered Investment Advisor.
|Year: 1993||Degree: Bachelor of Arts||Subject: Economics||Institution: Northwestern University|
|Years: 2018 to Present||Employer: Undisclosed||Title: Head of Risk Management||Department: Registered Investment Advisor||Responsibilities: Head of Risk Management at a NY-based RIA and member of the Investment Committee.|
|Years: 2015 to 2017||Employer: CLSA Americas||Title: Head of US Equity Derivatives||Department: Equity Derivatives||Responsibilities: • Built, launched and ran an institutional client-facing equity derivatives business from scratch.
• Acted as COO of the business unit, integrating all aspects with the Compliance, Finance, IT, Legal, Middle and Back Office Operations and Risk Departments.
• Published volatility content around CLSA’s equity research, combining fundamental research with analysis of the volatility surface for efficient trade structuring.
• Partnered with clients on actionable ideas, trade implementation and risk management advisory, utilizing a long track record of pricing and managing risk.
• Led a team of seasoned sales traders, providing the client base with alpha-generating investment ideas and market intelligence, mitigating the need to use firm capital to generate revenue.
• Leveraged existing resources and relationships while introducing new clients to the firm.
• Created cross-selling opportunities to complement the equities business and a new product sleeve by which clients could pay the firm.
• Crafted optimal, customized hedging strategies for clients’ portfolio protection.
|Years: 2012 to 2014||Employer: Hawksfield Capital||Title: Chief Investment Officer||Department: Volatility-Focused Hedge Fund||Responsibilities: • Built, launched and ran a hedge fund vehicle employing an equity volatility arbitrage strategy.
• Analyzed volatility surfaces using proprietary models and made trading decisions to optimize risk/reward scenarios while mitigating jump risk.
• Managed a portfolio of relative value equity volatility, VIX and volatility ETN statistical arbitrage, forward volatility positions around underlying catalysts and payoff profile trades capturing opportunities in skew and term structure.
• Oversaw all trading, risk, compliance, and middle and back office functions for the fund to create an institutional platform.
• Coordinated investor relations and marketing with the CEO.
• Retained the services of institutional-grade partners for Prime Brokerage, Fund Administration, Audit/Tax and Legal.
• Returned investor capital after thirty months due to the difficulty in growing assets under management and the struggle in producing meaningful returns in a low ‘vol of vol’ environment.
|Years: 2010 to 2011||Employer: MF Global||Title: Head of Equity Derivatives Trading||Department: Equity Derivatives||Responsibilities: • Built an institutional equity derivatives business from scratch, producing 15-20mm in top line annual revenue using less than 20mm in balance sheet.
• Constructed the technology platform, including all risk and trading systems.
• Responsible for all staffing of the new venture, including sales, trading desk support, derivatives strategy and middle office roles.
• Managed the trading personnel and portfolio risk of the desk, and priced all client flows in index and ETF options and ETF cash products.
• Generated business by pitching derivatives strategies to clients to match market views with opportunities in the volatility surface.
• Ran a proprietary back book to supplement the PnL of the business unit.
• Represented US Equities in risk and trading meetings with other business heads and top management in discussion of opportunities across asset classes.
|Years: 2007 to 2009||Employer: AM Investment Partners||Title: Portfolio Manager||Department: Volatility-Focused Hedge Fund||Responsibilities: • Co-managed the firm’s Global Volatility Arbitrage Fund.
• Responsible for idea generation, trading and risk management of the Core Portfolio, implementing strategies such as absolute volatility, relative value, skew and term structure, cross- index and cross-country volatility trading.
• Analyzed volatility surfaces to opportunistically leverage in-house fundamental analysis.
• Built and utilized relationships across the Street for capital commitment, research, calendar and access to other resources.
• Instrumental in the build-out and launch of the firm’s Asia Volatility Fund.
• Actively marketed the Fund to both potential and existing investors worldwide, helping grow the Volatility Fund in asset size from $250mm to a peak of $800mm.
|Years: 2006 to 2007||Employer: BNP Paribas||Title: Director||Department: Equity Derivatives||Responsibilities: • Helped leverage an existing equity derivatives platform to launch the US flow derivatives business.
• Traded all Index/ETF vanilla/listed options flow and light exotics.
• Bridged Flow Derivatives with OTC Structuring in order to cross-sell to clients and efficiently price volatility across the term structure.
• Managed the risk of the integration of ETF cash trading and ETF options.
• Coordinated the flow of risk information across the index desk to minimize hedging costs.
• Generated trade ideas to support client relationships and solicit order flow.
|Years: 1999 to 2004||Employer: Merrill Lynch||Title: Director, Head of US Index Trading||Department: Equity Derivatives||Responsibilities: • Made options markets, hedged and managed risk in all index derivatives products and ETFs.
• Priced plain vanilla listed options and light exotic OTC structures for clients.
• Instrumental in the construction of Merrill Lynch-branded ETFs (HOLDRs), and responsible for all options pricing on these new products prior to exchange listing.
• Chosen to be a founding member of an internal hedge fund, the Strategic Risk Group.
• Initiated the formulation and execution of proprietary trading ideas.
• Employed strategies such as skew and term-structure trading, cross-country index volatility spreads, cross-index long/short volatility and bespoke dispersion.
|Years: 1993 to 1999||Employer: Susquehanna International Group||Title: Director||Department:||Responsibilities: • Made options markets on three exchanges in a variety of products in competitive, open outcry pits.
• Priced and managed risk in single stock options, Treasury bond options and equity index options.
• Responsible for hedging the resulting risk of all trading positions at both the portfolio and underlying level.
• Ran modified dispersion strategies to hedge illiquid index exposure.
• Managed the risk of six other index and ETF traders.
• Implemented an in-house derivatives curriculum.
|Licenses / Certifications|
|Series 3, 7, 24, 55, 63
|Expert Witness Experience|
|Expert was retained by the defense as an Expert in the case for which he prepared an Expert Report and gave testimony in an Administrative Law Court in Washington, DC.|
Fields of Expertise
derivative (finance), financial analysis, Financial Damages, Financial Industry Regulatory Authority, financial malpractice, financial management, financial market, Financial Planning & Analysis, securities options, regulatory compliance, finance, futures (finance), futures hedging, volatility, financial regulation, mergers and acquisitions financial analysis, annuity insurance, business insurance, errors and omissions insurance, insurance, insurance arbitration, insurance litigation, insurance operations, reinsurance, Cyber Incident Response