Manager
Resume:
THOMAS P. RUFF
Dobbs Ferry, NY 10522
***********@***.***
PROFILE
Financial Risk Management Professional with an extensive markets, products and regulatory
management background. Expert at providing and presenting complex analysis of policy, positions
and products to regulators, senior management and peers. Derivatives, Fixed Income Trading,
Money Markets, Securities Lending, ALM and bank funding experience. Developed strategies for
launch of two successful global proprietary trading groups, conceived yearly business plans and
implemented VaR, exposure and stress testing systems. Head Trader at leading Primary Dealer and
Money Market Trading Desk. Basel, Commodities, Dodd-Frank, Equities, FX, High Yield,
IFRS13/FAS157, MBS, Repo, Swaps and Project Management experience. MBA in Finance. FINRA
Series 7.
KEY STRENGTHS
• Fixed Income market and product analysis • Extensive Risk Management experience
• Macroeconomic & monetary policy expertise • Convexity and Yield Curve Selection
• Asset and Liability Management experience • P&L Attribution and Price Validation
• Project Management experience • Process Improvement & Presentation Skills
Experience
T&K Investments LLC, Dobbs Ferry, NY 9/2011-Present
CEO
Investment Manager, Trader, Consultant and Financial Markets Writer
Independently managed $3B US Rates cash, futures and options book for a large broker-dealer. Risk
management consulting and reporting.
Auriga Securities SV, SA New York, NY 4/2009 – 9/2011
Managing Director-Head of U.S. Treasury & Agency Securities Trading
Portfolio Manager of US and Sovereign Fixed Income using relative value, credit, directional and
yield curve strategies.
• Produced average annual returns of 36% over three years
• Managed a $4B arbitrage book
• Set up and managed Treasury Trading desk and Negotiated Prime Brokerage Agreements
• Implemented TOMS Risk and Regulatory Management Systems
• Planned and managed system updates
• Senior Risk Committee Member
JP Morgan Chase, New York, NY 3/2008 – 1/2009
Vice President-Senior Portfolio Manager, Securities Lending
Participated in managing $300B securities lending portfolio. Managed $75B Depo and Repo book.
Managed $85B 2a7-like Fund. Senior Risk Committee member.
• Delivered weekly reports and forecasts encompassing all major financial, economic and policy
developments to senior management. Presented and spoke to these developments in an ongoing
basis with both senior management and clients.
1. Provided and presented ad hoc analysis to senior management on ABS, banks, broker-dealers,
Emerging Mkts, ETF’s, HELOC, insurance companies, MBS, SIV’s and market conditions
THOMAS P. RUFF Page 2-914-***-****
2. Individually provided and presented departmental U.S. economic, monetary policy and
investment thesis and forecasts to senior management
3. Spearheaded key client communications and initiatives with Central Banks and Fortune 500 firms
Cantor Fitzgerald Securities, New York, NY 9/2005 – 10/2006
Senior Vice President Proprietary Trader & Risk Manager
• Managed US and Sovereign Fixed Income directional strategies, R/V arbitrage,
spread/carry positions, option combinations & volatility views, Equity and Commodity strategies
• Individually managed a $4B cash, futures and options book
• Provided and presented analysis on complex financial products, firm derivative positions
and options structures to senior management. Monitored combined portfolio correlations
• MBS, Structured Product, Swaps, Corporate, Commodity and Equity market trading
experience
Graham Capital Management LP, Rowayton, CT 8/2004 – 9/2005
Portfolio Manager – Global Fixed Income, Energy, Equity and Currency Markets
• Managed $50M in capital-$25B arbitrage book producing $5MM P&L in 2005
• Traded discretionary and system based credit, directional, and R/V strategies
encompassing 15 products
• Implemented portfolio back-testing and Monte Carlo simulations
Glickenhaus & Company, New York, NY 5/2000 – 4/2004
Portfolio Manager – Credit, Directional, Relative Value Arbitrage and Equity Strategies
• $6M P&L in 2001-60% ROR
• Produced $14M in P&L over 4 years with $250K annual stop-loss limits
• Average annual returns of 38% over four years
• Risk, Regulatory and Compliance Committee Member
Daiwa Securities America Inc, New York, NY 6/1997 – 4/2000
Vice President - Head Proprietary Trader – Risk Committee Member
Traded US and foreign fixed income markets. Developed trading strategies, worked with and
provided market commentary for sales force, print and television media.
• The most profitable trader in Treasury Trading Group
• $7M P&L in 1998 and $3M P&L in 1997 with $500K annual stop-loss limits
• Strategies included; supply cycle, directional, rich/cheap historical spread, TEDS, butterfly
structures, carry/roll down and pay down trades.
The Nippon Credit Bank Ltd, New York, NY 4/1995 – 6/1997
Managing Director – Senior Partner
Global Proprietary Trading and Funding Group
• Headed proprietary trading group managing $100M in capital
• Individual P&L approached $9M in 1995-40% ROR
• Member of the ALM and Investment Committee-$50B bank balance sheet
• Partnered with Global Treasury in the management of the bank’s liquidity risk and funding gap
2
• Started, recruited and managed proprietary trading desk. Implemented risk management system
and conceived business plan.
• Managed 5 Proprietary Traders, Financing and Funding Desk
THOMAS P. RUFF Page 3-914-***-****
• Designed, integrated and monitored risk management and compliance systems
CitiCorp Securities Markets Inc, New York, NY 2/1992 – 4/1995
Vice President - Head Proprietary Trader
• Traded entire US yield curve using cash Treasuries, Agencies, futures and options
• Traded G-7 currency instruments and their derivatives
• $7M P&L from individual proprietary trading in 1994
Chemical Securities Inc, New York, NY 7/1982 – 2/1992
Vice President - Deputy Department Head 1987-1992
Primary Dealer Trading & Sales Manager. Specialized in 0 to 30 year Treasuries, Agencies, cash,
futures, options, directional trading and sector & yield curve arbitrage.
• Managed $5B arbitrage book
• $8M P&L from individual proprietary trading in 1991
• Managed $100M primary dealership business
Eurodollar and Yankee CD Trader 1985-1987
• Established NY Money Market Trading Desk
• Managed five traders, coordinated trading and product strategies
• $5M P&L from individual money market trading in 1986
Funding Desk 1983-1985
• Identified, measured, monitored and managed bank’s Liquidity Risk and Funding Gap
• Actively participated in the management of firms structural interest rate risk and investment
positions
• Provided and presented analysis of bank funding alternatives
• Worked with geographic lending territories
Repurchase Agreement and Matched Book Trader 1982-1983
• Funded $50B in primary dealer and bank portfolio positions
• Ran $5B matched book producing $5MM P&L
EDUCATION
MBA Finance,
Lubin Graduate School of Business, Pace University, New York, NY (GPA:3.6 out of 4.0)
BA Economics
Rutgers University, New Brunswick, NJ
SKILLS
4
Bloomberg analytics, BTEC, Completed Formal Bank Credit Training Program, eSpeed,
MarketAxess, SLAM, Thomson Reuters Eikon, TradeWeb and Yield Book
Contact this candidate