Senior Risk Management Counterparty Executive

Dan Frascone

** ******* **** ****, ***********, NY 10709

C: 914-***-****

***********@*****.***

DTCC (Depository Trust & Clearing Corporation) Feb 2018 - Present

Manager of Counterparty Credit Risk – Consultant

Responsible for managing and controlling counterparty credit risk exposure of the DTCC’s member firms.

Manage a team of credit analysts and approve credit reviews and monitor ongoing surveillance of member firms across DTCC’s clearing corporations.

Review credit thresholds of Treasury counterparties to assure adherence to policy standards.

Oversee new member applications to ensure compliance with membership requirements.

Perform site visits and discuss trading strategies with member firm’s managers and senior executives as part of the due diligence process.

Act as first-line of approval in placing member firms on enhanced surveillance.

Coordinate requirements for the design of credit risk monitoring tools to further automation.

Drive regulatory awareness and compliance and ensure adherence to risk related policies and best practices.

Ensure compliance with CCR’s policy and procedures.

Stifel Financial/Keefe, Bruyette & Woods, Inc. Sep 2004 – Sep 2017

Director of Credit Risk Management

Responsible for managing and controlling counterparty credit risk exposure for the firm’s fixed income equity, CDS, and loan businesses.

Established the institutional Credit Risk Management Department.

Led team in the development of a firm-wide global exposure report, capturing trade data across numerous firm subsidiaries and delivered daily exposure reports to management.

Drafted a Credit Policy and Procedures manual detailing framework for policies, procedures and reporting to govern the firm’s approach to credit risk management to comply with standard industry practices.

Perform site visits and discuss strategies with hedge fund managers, portfolio managers and CFOs, as part of the due diligence process.

Spearheaded the firm’s efforts to comply with FINRA Rule 4210.

Control counterparty risk and established limits for the firm’s sales and trading environment including U.S. Treasury and agencies, Syndicated loans, CDS,Mortgage-Backed, Corporate and Equity products.

Responsible for credit analysis and limit approvals for banks, broker-dealers, hedge funds, investment advisors, family funds, mortgage bankers, credit unions and corporate counterparties.

Created reports for senior management detailing the firm’s counterparty risk exposure.

Negotiate all standard industry agreements and documentation with counterparties (SIFMA Master Forward Agreements, Master Repo Agreements).

Bank Julius Baer & Co. Ltd. Jul 2002 – Sep 2004

Vice President – Credit Officer

Responsible for credit analysis and limit recommendations for the following counterparties; hedge funds, banks, broker-dealers and investment managers.

Counterparties transact business in the following products; foreign exchange, government securities, equity securities, corporate securities, and OTC options.

Perform site visits and discuss strategies with hedge fund managers as part of the due diligence process.

Support trading/sales units in their efforts to establish trading limits for their client base.

Negotiated ISDA documentation with counterparties.

UBS/PaineWebber Inc., Stamford, CT Mar 1998 – May 2002

Corporate Vice President

Financial Institutions – Associate Director (11/00 – 05/02)

Responsible for credit analysis and limit recommendations for the following counterparties; Canadian and US banks and broker-dealers.

Counterparties transacted business in the following products; government securities, repurchase transactions, securities lending, mortgage-backed securities, corporate and municipal bonds, credit derivatives, equity derivatives, interest rate and currency swaps, exchange traded futures and options.

Performed site visits as part of the analysis and due diligence process.

Negotiated ISDA documentation with counterparties.

Emerging Markets - Credit Manager (8/99 – 10/00)

Responsible for credit analysis of counterparties transacting emerging market business in Latin America. Managed a staff, approved credit limits and monitored risk for counterparties trading the following products; Brady bonds, emerging market corporate bonds and equities.

Counterparties analyzed; hedge funds, banks and broker-dealers.

Performed site visits and discussed trading strategies with fund managers as part of the due diligence process.

Negotiated ISDA documentation with counterparties.

Futures Division – Credit and Risk Manager (3/98 – 7/99)

Managed Credit and Margin Departments, for the firm’s retail and institutional futures, options and foreign exchange business.

Performed site visits as part of the counterparty credit risk and due diligence process for hedge funds, banks, broker-dealers and commercial customers.

Responsible for training credit analysts and reviewing and approving their credit proposals.

Fuji Securities Inc., New York, NY Jul 1995 – Mar 1998

Vice President

Primary Dealer – Credit Manager

Performed credit analysis for all of the firm’s counterparties, which included; hedge funds, financial institutions, mutual funds, investment managers and municipalities.

Performed site visits and discussed trading strategies with hedge fund managers and senior executives as part of the due diligence process.

Counterparties transacted business in the following products; government securities, repurchase transactions, securities lending, OTC options, exchange traded futures and options.

Chairperson of the Credit and Risk Committee.

Cantor Fitzgerald Securities, New York, NY Aug 1993 – Jul 1995

Assistant Vice President

Responsible for credit analysis and limit recommendations for the following counterparties; hedge funds, banks, broker-dealers, corporations, municipalities and investment managers.

Products include, government securities, repurchase transactions, mortgage-backed securities, corporate and municipal bonds, equities, emerging market equities.

Performed site visits and discussed trading strategies with hedge fund managers and senior executives as part of the due diligence process.

Education

MBA Financial Management Pace University Graduate School of Business

BBA Finance Pace University Lubin School of Business

Memberships

Capital Markets Credit Analysts Society

Risk Management Association, NY Chapter

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