Management Vice President
Resume:
Raymond D Saxe
Apartment *H
New Rochelle, NY 10801
********@*****.***
Summary
• I developed IT solutions that increase revenues and decrease costs.
• Businesses focused with a particular eye on the business model and how technology can improve the bottom
line.
• Led globally dispersed teams (NY, London, Germany, India, Brazil, China, HK, Singapore, and Canada) in
delivering production Market Risk, Credit Risk, Human Centric Workflow, and Margin Management systems for
OTC derivatives using vendor and in house developed programs. Understand the unique cultural differences to
facilitate working successfully with globally diverse teams and manage them effectively.
• My MBA in Finance, BSEE, and years of building complex risk management applications demonstrate my unique
ability to deliver new, innovative solutions to meet goals in a timely fashion.
• Spearheaded successful team-building. Led numerous Senior Business Executives, Technical Architects,
Developers and Database Administrators to successful deliveries on time sensitive, high profile, complex
projects.
• Developed innovative solutions. I can provide numerous examples. I do the heavy lifting, and communicate
equally well with Senior Business Executives, Technical Architects, Developers and Database Administrators.
• I always seek new opportunities and leave the enhancements and production support to teams that specialize in
that discipline.
• I excel at bridging the gap between the business focused senior managers and the technology specialists.
HSBC New York and London 2005 - 2010
Senior Vice President, Regional Head of Global Risk Technology
• HSBC’s strategy was to organically grow a bulge bracket Investment Bank and required a robust enterprise risk
application suite. I was chosen to put the team together and help accomplish that business goal by placing the
proper risk management controls in place.
• I assumed ownership of enterprise credit and market risk systems for the Americas and resolved operational
concerns.
• Improved performance, stability and accuracy of the models for non-loan instruments (OTC swaps, options, FX
Options). Insured Credit risk numbers were arriving on-time and market risk numbers were accurate.
• After my team and I drastically improved the enterprise risk analytics, I led the Global OTC IT Margin
Management Application team to improve their capabilities.
Details: Lead team of 25-35 FTEs implementing enterprise credit and market risk applications. I represented IT on the
Senior Market and Credit Risk Steering Committees for the Americas. I lead led the IT team that built the OTC margin
management system based on the Algorithmics package insuring collateral calls were made on a timely and accurate
basis, critical during credit events. CDS stress testing applications built by my team (over 500 blade servers) and proper
margin management saved the bank Billions during the 2008 credit events. HSBC was offered bailout money from the
US, UK and China. None was required as the application went beyond the standard 3 standard deviations and examined
tail risk.
Senior Vice President, Global Head, Investment Banking Client Onboarding IT
• My next assignment was to create a new IT department for Global Investment Banking Client On-boarding.
• Client On-boarding was product specific, inefficient, used high cost resources to perform menial tasks, was
uncoordinated globally so clients were repeatedly asked for the same information, and the process was not fully
regulatory compliant.
• As a member of the senior executive team, we spent the first year developing the target operating model, while I
moved the high cost production support to Brazil and India and patched the existing legacy systems.
• We selected a human centric, complex workflow engine as the cornerstone to migrate the majority of the work to
India (600 FTEs).
• The in-house build used agile development in London (6 core developers); system testing in India, and the
production support remained in India and Brazil.
Details: Managed group of 50+ located in NY, London, India and Brazil. My team and I Implemented a new
onboarding workflow application that manages onboarding work across the globe. All HSBC relationship managers
and sales personnel use the application for on-boarding requests (new customers, new products, credit line changes,
and new traded market documentation). 600+ client onboarding professionals then process the requests using the
workflow application (majority in Bangalore). The on-boarding application was built on the Pega workflow platform. I
cannot divulge the cost savings as it is highly proprietary, but they were substantial.
Deutsche Bank AG NY and Frankfurt, Germany 1998 – 2004
Director, Regional Head of Global Risk Technology, Global Head of Credit Regulatory Reporting
• Hired by Deutsche Bank in Aug 1998 after the enterprise risk department was left unmanaged for almost 6
months.
• Serious problems existed across the board, the worst being new critical regulatory reporting for the Americas was
required by head office three months after my arrival. Without the properly formatted data and calculations,
certain US business would be shut down by the German regulatory authorities.
• The project to collect, transform, and calculate the head office data requirements had been running for 2 years
and was not yet in user acceptance testing. The underlying architecture was flawed based on the very complex
Infinity Data Model and no cooperation existed among front, middle and back office.
• I established a SWAT team to collect data product by product on MS Access databases, perform transformations
and calculations, gained front office support, manually consolidated the data and met the November deadline.
• My team and I spent one year replacing the MS access databases with a robust Oracle/Unix application with a VB
front end.
• My team successfully rolled the system out globally with a web based front end as it was required by many DB
regions that were not providing accurate, quality data.
Details: Responsible for global suite of applications that supported DB group reporting of economic capital, Basil 2, risk
weighted assets, industry, and sector and country exposures. The system outputs were used by Credit Officers, Senior
Management and Regulators. I was also responsible for the global OTC margin management system. I managed a team
of 60 in Frankfurt Germany to collect and transform data for the Bundesbank.
Bankers Trust New York 1990 – 1998
Vice President
• Hired into Bankers Trust’s Associates Program. BT recognized that technologists were building solutions that did
not solve business problems, generate revenue or save costs.
• The program recruited at the top ten business schools in the nation looking for students studying finance with
technical undergraduate degrees.
• The goal was to hire people who understood both the technology and the business and could bridge the gap
between the two.
• The right candidate could talk to traders, salespeople, risk managers and understand their requirements and
communicate those requirements to the technical staff.
• The successful Associate would constantly remind staff that we are not in the software business, we are not
looking for the “magic bullet,” but we are here to generate revenue, reduce costs by seamless transaction
processing, and provide senior management with the risk numbers required to manage the business.
Details: Started as a business analysis on an interest rate swap system. I was promoted quickly to manage a team that
generated trade confirmations from data input using tagged delimited files (HTML now). Given my knowledge of SWAPS,
I lead a team that created a new application that calculated credit risk on counterparty swap portfolios taking into
consideration netting, collateral and consistent market scenarios. This was in the early 1990s before the compute power
was available for Monti-Carlo simulations. This convinced the Credit Officers to allow the traders to do more business and
generate more revenue. I then moved into enterprise corporate credit, where I was exposed to the entire breath of
merchant banking products.
Education:
NYU Stern School of Business New York, NY MBA Finance
University of Bridgeport Bridgeport, CT BS Electrical Engineering
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