OTC Derivatives

AARON AXEL

***-** ***** *********, ***. *E

Belle Harbor, NY 11694

Phone: 347-***-****

E-mail: *********@*****.***

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Seasoned Finance Professional with Extensive Derivatives and Counterparty Credit Risk Expertise QUALIFICATIONS SUMMARY

Exceptional understanding of OTC derivatives products, risks, and platforms as well as risk management strategies and methodologies. Vast experience working in fast-paced environments demanding superb organizational, technical, and communication skills. Skilled professional with the business acumen and poise to successfully interact with individuals across all levels of an organization. Focused, detail-oriented, and resourceful in simultaneously completing multiple projects in a timely and effective manner.

Over 15 years of experience analyzing, structuring, marketing, and originating debt and derivatives transactions across interest rate, foreign exchange, and equity products.

Deep knowledge and keen awareness of global financial regulatory reforms, particularly Title VII of the Dodd-Frank Act and all CFTC/EMIR OTC derivatives rules, as well as evolving market structures, disruptive technologies, and other key industry drivers. PROFESSIONAL EXPERIENCE

5/11 – 11/17 JEFFERIES New York, NY

Vice President, Derivative Solutions Group

Formed, launched, and developed the Derivative Solutions Group (DSG), Jefferies’ newly created corporate derivatives practice dedicated to providing corporate clients with interest rate and FX risk management solutions.

Produced over $40 million in firm revenue by structuring, marketing, and executing more than 100 derivative transactions with corporations spanning Jefferies’ Investment Banking and Project Finance coverage universe.

Successfully closed more than 50 secured/uncollateralized Rates and FX bilateral OTC derivative trades, including interest rate swaps, floored swaps, cancellable swaps, swaptions, LIBOR caps/floors, interest rate collars, FX forwards, participating FX forwards, and FX options, representing over $25 billion notional amount.

Performed counterparty risk analysis by calculating Credit Valuation Adjustment (CVA), Expected Exposure

(EE), Expected Loss (EL), Potential Future Exposure (PFE), and Potential Future Loss (PFL), on an individual trade, counterparty, and portfolio basis using Monte Carlo simulation under normal and market stress scenarios.

Monitored, assessed, and reported daily P&L and market risk sensitivities, including day-over-day changes in VaR, DV01, CR01, PFE, and MLO, for the DSG trade portfolio using Murex, Calypso, and Bloomberg MARS.

Gathered user requirements, wrote test plans, developed stress framework, outlined UAT cases, performed data analysis, and reported findings to Jefferies’ Steering Committee for all derivatives and risk-related projects regarding infrastructure/systems integration, data flow/control, as well as baseline and stressed risk calculations.

Supervised the system implementation, testing, reporting, and deployment for all mission-critical derivatives and CVA-related technology projects, including the initial installation and subsequent migration of several derivatives trading platforms and risk applications.

Led internal Credit Committee meetings and prepared detailed transaction materials for all DSG client trades. 11/08 – 4/11 GRX CAPITAL MANAGEMENT New York, NY

Co-Founder

Established independent Swap Execution Facility (SEF) providing competitive and efficient price discovery, Straight Through Processing (STP), and brokerage services to all participants in the cleared interest rate derivatives market.

Developed the GRX Trading Platform for real-time price dissemination (via a central limit order book) and anonymous trade execution (through voice, online, or API) for cleared swaps, including switches and butterflies. 5/03 – 7/08 MERRILL LYNCH New York, NY

Vice President, Financial Institutions Group – Capital Markets & Financing

Originated debt and derivative business by advising Public Credit clients on debt issuance, liability management, capitalization structure, new product development, and balance sheet hedging strategies.

Generated over $250 million in profit over 5 years through bullet, structured notes, and MTN debt underwriting, as well as structuring, pricing, and executing more than 1,000 interest rate derivative transactions, including vanilla interest rate swaps, cancellable/putable swaps, basis swaps, LIBOR caps/floors, and swaptions.

Managed the Fannie Mae Investment Notes (FINS) retail program (including weekly structure selection, pricing, and execution), a consistent source of over $20 million in annual revenue for the firm.

Structured trade ideas, market updates, and asset-liability matching recommendations for Public Credit clients.

Conducted global roadshows for US Agency debt issuers as well as Supranational and Sovereign borrowers. AARON AXEL

122-20 Ocean Promenade, Apt. 5E

Belle Harbor, NY 11694

Phone: 347-***-****

E-mail: *********@*****.***

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PROFESSIONAL EXPERIENCE (continued)

5/02 – 8/02 UBS WARBURG Stamford, CT

Fixed Income Sales and Trading Summer Associate

Rotated on Investment Grade Corporate Bond Trading, Mortgage Sales, and High-Yield Capital Markets desks. 2/99 – 7/01 SCHONFELD SECURITIES New York, NY

Equity Trader

Traded stocks intra-day for firm’s proprietary account, selecting stocks based upon relative strength/weakness, industry group performance, volume, volatility and trend. 1/97 – 1/99 GOTHAM TRADING GROUP New York, NY

Options Market Maker

Made two-sided markets in Lucent Technologies’ options on the American Stock Exchange, analyzing vega

(implied vol), gamma (delta change), theta (time decay) and rho (interest rate risk).

Delta-hedged derivatives positions by trading underlying shares of Lucent Technologies. 1/96 – 1/97 DAILY NEWS New York, NY

Manager, Business Development

Assisted in the creation, development, and growth of the Daily News’ website (www.nydailynews.com).

Established business relationships with content providers, advertisers and revenue-sharing partners to create and achieve the company’s online growth initiatives.

1/93 – 1/96 Attorney

Drafted corporate contracts, prepared memoranda of law, and participated in collective bargaining negotiations between the Daily News and its organized labor force. EDUCATION

COLUMBIA BUSINESS SCHOOL MBA, Finance, May 2003 New York, NY

Term Honors: Dean’s List

Class Honors: Advanced Derivatives, Debt Markets, Options Markets, Capital Markets, Corporate Finance, Security Pricing Models, Economics, Financial Accounting, Managerial Statistics, Operations Management, Leadership, and Managing Marketing Programs

Member: Beta Gamma Sigma Honor Society, Sales and Trading Club, Ski Club

GMAT: 710 (96th percentile)

FORDHAM UNIVERSITY SCHOOL OF LAW Juris Doctor, May 1995 New York, NY

Board of Student Advisors, 1993 and 1994

Worked 20 hours per week while attending law school to finance educational costs. UNIVERSITY OF MICHIGAN ROSS SCHOOL OF BUSINESS BBA, May 1992 Ann Arbor, MI

Two-Year Captain of the University of Michigan Lacrosse Team

Member: Finance Club

TECHNICAL SKILLS

Accomplished proficiency and experience using Murex, Calypso, Bloomberg MARS, Bloomberg Excel Add-In, VBA, and SharePoint, as well as advanced Microsoft PowerPoint, Word, Access, Visio and Excel skills. LICENSURE

Hold FINRA Series 7 and Series 63 licenses.

Passed bar examinations in New York and New Jersey. PERSONAL INTERESTS

Enjoy playing poker, fantasy football, travelling, bodysurfing, skiing, and tennis.

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