Manager Management

Jaspal S Chana

PROFILE

A Senior Investment Professional with over 10 years of progressive experience in Finance and the Investment management industry. An independent front office Risk manager for an $8 Bn AUM global Hedge Fund. Clear understanding of Hedge Fund strategies, leverage and absolute return performance expectations. Key skilled areas of expertise include: Risk Management & Control aspects across Market Risk, Portfolio Management and Systems (electronic/algorithmic) Trading. A proven track record developing client relations and providing clear-cut investment analysis whilst linking corporate vision to deliver desired results through effective use of processes, technologies, resources plus business development. Demonstrated ability to plan, develop and manage risk and performance for $1 Bn worth investment portfolios. A keen focus on maximizing gains while maintaining appropriate risk tolerance levels. A strong motivator and collaborator across teams with effective leadership, communication, decision making, problem solving and interpersonal skills, coupled with a bottom-line corporate focus and a results-driven attitude.

KEY SKILLS

Numerical: Very strong numerically and able to research, analyse and report with good impact.

Communication: Excellent communication, negotiation and presentation, can multi-task and prioritise.

Systems: Advanced use of Microsoft Excel, Word, PowerPoint. Programming in VBA, SQL, Python, UNIX, LINUX plus Tableau, Business Objects, Bloomberg and RiskMetrics.

Languages: German (Basic); French (Competent); Punjabi (Fluent).

BUSINESS EXPERIENCE

Aug 13 – Jun 17 Tudor Investment Corporation, CT, NY, USA

Jan 11 – Jul 13 Tudor Capital Europe LLP, Surrey, London, UK

Position Quantitative Strategies Risk Manager

Key Achievements: Promoted as an essential member of Systems Trading's Portfolio Advisory Group (“PAG”) to discuss monthly risk and performance updates of all global macro and equity Systematic Trading Systems across the firm and work on portfolio construction, optimization and analysis. A member of Quantitative Strategies Oversight Group (“QSOG”) providing quarterly input on core electronic trading issues.

Responsibilities:

Risk and Performance management:

Managed daily intraday risk, positions and P/L of Funds/portfolios and improved risk measurement for Systematic trading Portfolio Managers (PMs) and some Discretionary trading PMs, working as an integral global team member. Calculated and managed hedges to control risk levels and identify tail risks. Formalized portfolio liquidity risk profiles and created Stress Tests and evaluated Scenario analyses. The market risk oversight used proprietary coding and risk management systems covering Equities (Delta 1, vanilla and exotic options), Commodities, FX, Fixed Income (Bonds & Interest Rates) and Credit. Reported directly to the Chief Risk Officer and previously to Head of Systems Trading.

Prepared, reviewed and distributed daily risk summaries to PMs and senior management including VaR (levels, limits and utilizations), marginal risk contributions, including drawdowns, limits, target volatilities, market exposures plus Stress Test summaries. Constant interaction with PMs to extract risk, understand position sizing, market conditions the trading universe and adhoc requests.

Monitored live drawdowns by trading system and Fund then discussed and recommended to the Head of Systems Trading de-leveraging and subsequent re-leveraging decisions.

Monitored live versus simulation slippage of trading systems and investigated with PMs to mitigate unexplained deviations that helped maximize returns.

Model Validation and Portfolio management:

Key contributor assisting PMs in model changes presented for testing or implementation after updating algorithms. Validated the model after reviewing and analysing returns and the risk and exposures of positions in their model development efforts. Identified all market impacts including correlations and regime changes. Liaised with Systems Execution ensuring correct trading and classification of products.

Advanced the structured model approval process by interacting with other model reviewers to update model documentation. This covered model design including methodology, code management, parameters, trading universe and risk metrics for VaR, position sizing limits or other constraints.

Rebalanced PM models and Funds and calculated impact, volatility and leverage implications. Final allocations agreed with PAG and as a conduit sending results to Middle Office for execution.

Cultivated and applied experience from building and implementing risk models and analytics tools. Backtesting and stress testing with Barra factor, regression, correlation analysis and econometrics.

Reporting management:

Prepared quarterly Capital Allocation partner meeting analysis and discussed PM capacity matters.

Designed and implemented a Risk dashboard and escalation framework to report key risk issues.

Spearheaded adhoc requests from Investor Relations and helped with monthly and Regulatory tasks.

Collaborated with Technology teams to automate various processes and reports and made risk content accessible via internal applications and interactive web based displays.

Dec 03 – Dec 10 Man FRM, London, UK

Position Risk Manager – Vice President for a Fund of Hedge Funds Investment Manager

Key Achievements: Provided quantitative and qualitative analytics, reporting to the Head of Risk Management and Quantitative Research. Customised and improved market/credit risk and control metrics.

Responsibilities:

Monitored, challenged and commented on Hedge Fund strategies risk profiles including Equity Long-Short and Credit by evaluating attributions and strategy limit breaches using proprietary risk engines.

Prepared and distributed risk reports for discussion with PMs/clients, including liquidity analysis.

Modelled portfolios by customizing Risk Trees and variables using least-squares stepwise regression.

Collaborated with Sales Team to remodel institutional and private client portfolios to amplify risk and return profiles and rewards of investing in Hedge Funds. Point risk contact for the Japan office.

Initially hired as a Pricing Analyst in a core team of 4 that reported directly to the COO of Operations Dept:

Pioneered on COO projects to identify bottlenecks and suggest process improvements.

Thoroughly investigated and evaluated external Hedge Fund pricing and valuations, ensuring all figures were within agreed tolerances, similar to strategy peers and material variances escalated to Research.

Tracked investment trades and quality of NAVs using a multi-currency portfolio accounting system.

Updated track records, strategy classifications, Marketing literature and Offering Memorandums of investments - a key element for Manager Selection and conducting the necessary due diligence.

May 00 – Sep 03 American International Group (AIG), Croydon, Surrey, UK

Position Portfolio Analyst – surpassed collective HNW portfolio value from £2m - 40m in 2 yrs

Jul 97 – Dec 99 TTT Moneycorp Ltd, London, UK

Position FX Sales & Trading – trading and negotiating Private client including HNW accounts

EDUCATION

Sep 02 – Sep 04 CASS BUSINESS SCHOOL [London, UK]

MSc. Investment Management - Awarded Distinction

Oct 90 – Jun 93 KING’S COLLEGE, UNIVERSITY OF LONDON, [London, UK]

BSc. Mathematics & Management Studies - Maths (1st), Management (2nd)

Sep 85 – Jun 90 Purley High School [Purley, Surrey, UK]

4 A Levels: Maths [A] Further Maths [A] Chemistry [B] Physics

A/O Level: Maths and Theoretical (Applied) Mechanics

9 GCSE’s: Including Maths, English, Economics

COURSES

At CASS used Bloomberg, DataStream, MetaStock and a statistical econometric package (PcGive)

Financial Planning Certificate (2000) - Paper 1: Financial Services & Their Regulation

Money Markets (1996) - used Technical & Fundamental Analysis to paper trade FX contracts.

INTERESTS

Financial Markets Soccer Golf Chess Charitable donations Classic cars - especially Mercedes-Benz

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