Business Consultant, Economist and Finance Speicialist

Jaffer Qamar

Arlington, VA ******@*****.***

Executive / Manager / Consultant / Researcher in Economics and Finance

14+ years experience managing Finances (FP&A) / Staff & Capital Resources / Operations / Production / Supply Chain / Sales & Marketing / Logistics / R&D, IP, Legal & Admin

Emphasizing Growth / Investments / Execution / Risk & Cost Control / Pricing

Integrated Approach: Accounting / Business / Economics / Finance / Management / Technology

Methodology: Analytical / Empirical / Quantitative

Build Excel models for Analyses / Complex Systems / Decision-making / Reports

US citizen, Security Clearance, Canadian immigrant; single; willing to relocate and travel

ABILITIES, COMPETENCE, EFFECTIVENESS, INTEREST, KNOWLEDGE & SKILLS

Financial Markets & Intermediation / Securities & Derivatives / Investment & Portfolio Analysis / Pricing /

Industrial Organization & Sector Analyses / Strategy & Planning / Competitive Analysis / Growth / Development /

Governance / Regulation / Policy / Cost & Risk Control / Due Diligence / Valuations, Mergers & Acquisitions /

Financial Structuring & Reorganization / Change Management / FP&A / Private Equity / Merchant Banking /

Manufacturing / Supply Chain / Logistics / Inventory Management / Operations / Key Performance Indicators / Test /

Monitor / Evaluate / Automate / Optimize & Streamline Processes & Procedures / Growth, Productivity & Efficiency

/ Scenario &Impact Analyses / Analytics / Modeling / Simulations / Statistical & Econometric Analyses

Liaise / Coordinate / Lead and Provide Direction & Technical Support / Entrepreneurship / Self-employment

Write: Accurate & Transparent Reports / Plans / Proposals / Specs / Surveys / Technical Documents / Manuals /

Low-Tech Patent Applications / Research and White Papers / Lectures and Presentations

Data & Regulations: Census / Data.gov / Federal Reserve / CRSP / COMPUSTAT / Commodities / Foreign

Exchange / USPTO / SEC Filings / U.S. Employment / UN / World Bank / Bloomberg / Yahoo Finance

GAAP / FASB / Finra Guidelines & Procedures / Litigation, Mediation & Arbitration

WORK HISTORY

Contract Consultant USPS-OIG-Research Center 05/2012 12/2012

Pakistan’s Chief Economist Pakistan Planning Commission 08/2010 09/2012

Lead Consultant & Researcher Asian Development Bank 03/2008 12/2009

Visiting Professor of Finance Universities of Illinois & Pittsburgh 08/2008 12/2009

Consultant & Researcher OnPoint Analytics 08/2007 12/2007

CEO SmartPad, Inc. 01/1994 07/2008

Lead Consultant & Researcher David Bruce & Co. 09/1987 08/1993

Staff Engineer, Advisor IBM, Planning & Strategy Group 06/1982 09/1985

EDUCATION

Ph.D. Economics/Finance University of Chicago 2003

Operations Research Yale University, SOM 1984

MBA Accounting/Finance University of Chicago 1981

BSEE Engrg. & BSSE Physics Northwestern University 1979

Ph.D. Dissertation: Theory of the Role of Options in a Start-up Firm’s Capital Structure

It has relevance to optimal security design and raising risk-capital.

ACHIEVEMENTS

• As Pakistan’s Chief Economist (appointed by the Prime Minister), reviewed growth plan, annual budget, policies and

regulations; developed quarterly economic outlooks. Emphasized economic growth through more Connectivity,

Competition, International Competitiveness, Entrepreneurship, Innovation, Productivity, Privatization, Public-Private-

Partnerships, better Governance, Institutions, Management of Public Programs/ Projects. Offered suggestions for reforms

and initiatives. Helped change the dialogue to reduce favors to entrenched families and businesses; reduce subsidies, tariffs,

remove quotas and entry restrictions, price controls; reduce public spending on projects and funding business activity.

Advocated government’s role as an umpire, not a player, by suggesting reforms to vitalize cities, domestic markets, trade,

commerce, and further liberalization of financial markets and services.

• As Founder/CEO of SmartPad, Inc., funded ($100K in 1994) and raised capital ($500K in 1999) to design,

develop, manufacture and market a low-cost laptop word-processor for the K-12 education market. Built the firm on a

low cost business model using outside contractors. Peak revenue of $5M in 2002 and 14 employees . Created

employment, business activity, and paid taxes in several geographies. Developed a novel and useful product with

cool design; generated huge awareness for the simple, cost-effective technology in middle schools; increased

competition through lower prices, increasing productivity, improving product features, providing fantastic customer

service, building and maintaining excellent collaborative relationships with suppliers, and opening up the technology to

the public domain, which had been monopolistically guarded with an invalid patent owned by a competing firm.

• As lead consultant for Asian Development Bank, participated in the design of enterprise survey of 969 firms in

Sumatra, Indonesia (SITS 2008) and analyzed data. Wrote a detailed report on entrepreneurship, enterprise activity,

infrastructure, business and government services, bank and equity financing, level of corruption, and the investment and

trade climates in Sumatra. Developed a novel method (similar to the method of principal components) for identifying

and separating enterprises needing capital from those trapped in forced self-employment, where the owners and workers

would be better off receiving training and assistance with job placement in the formal sector. The report guides ADB,

banks, multi-national agencies, NGOs, private equity funds, and government agencies to allocate capital, optimally, and

rethink policies.

• As contract consultant for David Bruce & Co., wrote pricing analytics for trading financial products and executing

arbitrage opportunities. Research and implementation were conducted right after the 1987 market crash when highly

leveraged funds were devastated. Performed VaR (Value-at-Risk) analyses, developed and implemented hedging

strategies. Developed a model for estimating the term structure of credit (default) risk, using the method of

compound options applied to cash flow and balance sheet items. Hedged market, interest rate, and foreign exchange

risks for investment portfolios. Wrote analytics for fixed income securities with embedded conversion, call and put

options. Contributed significantly to understanding different sources of risk, designing new products and hedging

techniques, and executing trading strategies in several financial markets, both domestic and international.

• As Staff Engineer at IBM Planning & Strategy Group, developed a statistical model to estimate impact of

engineering changes on mainframe delivery schedules. The model forecasted more accurate schedules. Identified and

estimated productivity measures for IBM’s Fishkill manufacturing facility, which resulted in understanding IBM’s

strengths and weaknesses, leverage points, and competitive position.

• As Ph.D. student, wrote dissertation on The Role of Options in a Start-up Firm’s Capital Structure . It has relevance

to security design for assigning different voting rights for inside equity (held by family or founders) versus the common

stock versus nonvoting securities such as debt, options and preferred stock, with mutable voting rights. My research has

broader applications in Private Equity, Venture Capital, IPOs, Secondary Offerings, and to Corporate Finance in general.

PROFESSIONAL EXPERIENCE

USPS-OIG-RARC (Office of Inspector General, Research Center), Arlington, VA 05/12 present

Contract Consultant, Economic Analysis

Write Papers and Issue Briefs

• USPS’s Mission: Enable Communication Attention Economics in Two-Sided Markets

• Framework for Evaluating Strategic Options Case of Differential Pricing for Physical Admail

• ZIP Code System Valuation, Historical Development and Future Opportunities

• Write short briefs on several issues

Pakistan Planning Commission, Islamabad, Pakistan 08/10 09/11

Pakistan’s Chief Economist and Member of National Economic Coordination Committee (NECC)

Appointed by: Deputy Chairman (State Minister), Finance Minister, and Prime Minister

Lead seven sections: (1) Monetary & Fiscal Policy; (2) Macroeconomics, Growth & Investment;

(3) Labor & Employment; (4) Economic Research; (5) Trade & International Finance (BoP);

(6) Center for Research on Poverty Reduction & Social Policy; and, (7) Economic & Financial Appraisals

Asian Development Bank, Manila, Philippines 03/08 12/09

Consultant, Financial Economist ADB plays a similar role as the World Bank

• Lead a team to design, conduct and analyze the Sumatra Investment & Trade Survey

• Assessed the level of investment, trade, growth, entrepreneurship and economic activity

• Developed metrics, key performance indicators (KPIs)

• Developed a novel method to separate growth firms from those trapped in self-employment

College of Business, University of Illinois, Urbana-Champaign 08/09 12/09

Katz Graduate School of Business, University of Pittsburgh, Pittsburgh, PA 08/08 07/09

Visiting Assistant Professor of Finance

• Taught Excel based courses to College seniors and MBAs in Investment Management

OnPoint Analytics, Emeryville, CA 08/07 12/07

Consultant, Financial Economist. OnPoint advises clients on Economics issues in litigation cases

• Interfaced with analysts, economists, project managers, lawyers and programmers

• Collected and analyzed data, transactions, events and financial statements to support expert testimony.

• Hedged the risks of a real portfolio (by modeling it on a PC) with derivatives to demonstrate that risk could be

managed more cost-effectively than claimed by the investor, who was evading taxes

SmartPad Inc., San Francisco, CA 01/94 07/08

Founder, Tech-Entrepreneur, Executive and Manager

• Conceived CalcuScribe a low cost laptop which processes math in a text editor

• Funded, raised capital, launched the firm to design, manufacture, market, and ship the CalcuScribe

• Built the firm on a low-cost model by contracting professionals and employing line workers and staff

• Integrated processes and procedures into the Financial Planning & Analysis (FP&A) system

David Bruce & Company, Chicago, IL 09/87 08/93

Part-time Financial Consultant, Programmer & Researcher

Gained research and consulting experience serving banks, funds and insurance companies

• VaR analysis on investment portfolios

• Wrote pricing analytics for trading stocks, bonds, S&P index, and derivatives

• Generated optimal portfolio weights for efficient diversification, before the days of Excel-solver

IBM Corporation, Fishkill and Poughkeepsie, NY 06/82 10/85

Program Office: Business Planning, Strategy & Competitive Analysis, Staff Engineer

Promoted from Associate to Sr. Associate and then to Staff Engineer

• Performed variety of strategic, competitive and business analysis exercises as requested by executives.

• Collected data to measure productivity at the Fishkill semiconductor facility

• Developed a statistical model to determine turn-around times for engineering changes made to the mainframes,

which resulted in forecasting more accurate delivery schedules

Westinghouse Corporation Group W Cable, New York, NY 10/81 06/82

Financial Planner & Business Consultant

Installed accounting & financial planning software for use by franchisees and trained staff

Bendix Corporation, NASA Goddard Space Flight Center, College Park, MD 06/79 09/80

Aeronautics Division, Associate Engineer

Translated Pascal to FORTRAN. Wrote code for math sub-routines written by senior engineers

RESEARCH

• How Embedded Options Mitigate Asymmetric or Incomplete Information Problems, 1995

• Empirical Investigation of Purchasing Power of Major Currencies, 1989

• Term Structure of Credit (Default) Risk, 1988

• Sumatra Investment & Trade Survey 2008: Forced Self-employment v. Entrepreneurship, a Report for ADB and the

Government of Indonesia, November 2009

• Review of Pakistan’s Public Sector Development Program (PSDP), March 2011

• Creating a Space for the Future A Study of Entrepreneurship & Innovation in Pakistan, March 2011

• Connectivity in Pakistan and the Role of Interactivity, July 2011

• Achtung! What’s USPS’s Mission? To Facilitate Communication: A Framework for Evaluating Strategic Options for

the USPS in Admail, October 2012

• Role of Trade Credit in Value/Supply Chains and the Role of Distributors

• Inefficiencies and Distortions in the Tax Code

• Anomalies in Equity Options and Convertible Bond Pricing

• Explaining the Momentum Anomaly in Common Stock Prices

• Revisiting the Year-end and January Effects in Stock Returns

• Can Volatility or Recent Stock Returns Predict Next Period Returns Better than the Stock’s Beta?

WRITINGS

• Response to Why is Washington, D.C. Doing so Well? August, 2012

• Enter, eCarrier: Opportunity for the USPS, July 2012

• Issue Brief: Valuation of the ZIP Code System and a Brief History, June 2012

• Issue Brief: MetroPost and Emergence of Same-day delivery, November 2012

• Two-tier employment contracts: Are the optimal? Do they Cause Morale Problems? November 2012

• Opportunity for USPS to Enter the Consignment Business Through Online Auctions and Delivery, 2012

• Government Needs to Take a Back Seat, Parts 1, 2 & 3, in International Tribune Express; April, 2011

• Privatization of Social Security Not a Good Idea, June 2005

• A Note on Trade Credit, September 2003

• A Better Way? Eliminating the Dividend Tax, Op-Ed article, in TechCentral, January 2003

• Author patent application # 200******** Authenticating Digital Records, January 2005

• Author patent application # 200******** Portable Computing System for Editing and Linking Text and

Mathematical Expressions, February 2004

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