Management Manager

RICHARD V. TIAGI, CFA, MA, FRM

tel: 917-***-**** https://www.linkedin.com/in/richardtiagi Email: ******@*****.***

EXECUTIVE SUMMARY

An accomplished risk and capital & balance sheet management professional with a breadth and depth of experience in risk management audit, trading, treasury, investments management, internal audit, market, credit, regulatory and operational risk management with several Fortune 500 companies including Systematically Important Financial Institutions (SIFI).

Recognized as a team leader with strong functional capabilities in Capital Management, Governance, Risk & Compliance (GRC), Enterprise Risk Management, Project Management, implementation of Regulatory compliance framework, managing Trading & Treasury as well as Comprehensive Capital Analysis and Review (CCAR) audits. Areas of expertise:

Capital Markets including trading and derivative products as well as level 3 assets valuation

Market / credit /operational risk management functions and trading & hedging strategies

Capital Adequacy, CCAR, ICAAP, Dodd Frank and Basel III requirements

Market risk concepts (Value-at-Risk, the Greeks, Stress loss, RWA, PD, LGD, EAD)

Risk identification, assessment, analytical and quantitative skills, including financial statement analysis

Risk Management, Valuation and P&L risk attribution policies, guidelines and processes

Internal audit, project management and advisory experience in the US and internationally

Model validation and governance process auditing

Strong leadership, communication and interpersonal skills

PROFESSIONAL EXPERIENCE

GE CAPITAL 2015 - 2016

Senior Vice President, Risk - Capital Management Audit

Lead risk assessment, planning and execution of various CCAR audits including Economic Capital, Capital Adequacy and Stress testing audits / advisory projects; perform on-going review and challenge of the Capital Plan at the SIFI

Assessed compliance with regulations such as CCAR, ICAAP, Basel III, DFAST and other Dodd Frank rules

Provided technical knowledge on the application of regulatory requirements related to CCAR and address MRA/MRIAs

Collaborated with Treasury, Financial Planning & Analysis, Capital and Risk management teams to assess current business processes and determine how process re-engineering can be optimized for CCAR purposes

Advised stakeholders on the development and enhancement to Economic Capital and stress models, including credit loss, Treasury and PPNR related models as well as accuracy of economic, regulatory RWA and available capital calculations

Advised on the enhancement of CCAR internal controls framework covering process controls, documentation, policies, data and reconciliation, and model governance as a result of the strategic shift

Influenced the change and advised on the implementation of Moody’s Risk Frontier for Credit Risk Economic Capital

SCOTIABANK (Bank of Nova Scotia) 2008-2015

Director, Finance - Capital Management (2013 –2015)

Led the Economic Capital (E-Cap) mgmt. team, ~ $40bln E-Cap business line allocation and analytics functions as well as Capital Adequacy assessment at the Bank (approx. $750bln in assets); acted as the Secretary of the ICAAP committee

Managed return on economic equity (ROEE/RAROC) calculations for performance measurement and analysis

Co-managed the Enterprise-Wide Stress testing program and performed the impact assessment on economic capital

Enhanced and led the annual planning and quarterly forecasting of E-Cap and its allocation processes

Managed automation of Capital aggregation and reporting for credit, market and operational risks

Collaborated with ERM in completing material risk assessment and provided E-Cap risk quantification for the Bank

Provided guidance on the uses of economic capital throughout the Bank including Europe, LATAM and Asia

In collaboration with Performance Measurement team ensured profitability models are consistent with E-Cap attribution

Richard Tiagi tel: 917-***-**** Email: ******@*****.***

SCOTIABANK (Bank of Nova Scotia) (Con'd)

Director, Finance - Capital Management (2013 –2015) (Con'd)

Improved and performed quarterly risk analysis, profitability analysis and monitored counterparty credit risk exposures

Led E-Cap impact assessments for a number of proposed M&A transactions and new banking products

Performed Capital analyses of the Bank’s & competitors’ results and responded to Senior management’s queries

Director, Treasury & Capital Markets, Market Risk Management Audit (2008 – 2013)

Managed complex market risk & trading credit, model validation audits / advisory projects for various Trading including Global Equities, Commodities, Interest Rates, Credit & Hedge Funds Derivative Products and Treasury businesses globally

Led the team in assessing the design and application of the valuation methodologies for various trading businesses which resulted in the creation of Global Derivatives Product Control group for the bank

Audited the implementation of Basel 2.5 for Market Risk Regulatory Capital as DSR, IRC and CRM

Assessed the design of the existing Market Risk Limits for various trading and treasury businesses and advised on capturing all the relevant market risks and adequacy of the market and credit risk limit structures

Led special projects including Lehman Brothers bankruptcy and New product initiatives reviews resulting in cost savings

Reviewed effectiveness of risk management controls, measurement techniques, limits and reporting which resulted in the replacement of the Bank's Counterparty Credit risk system

Assessed the trading and sales practices, operational risk controls and compliance within Front Office & Treasury units

Served on Dodd Frank Act steering committee member for the Risk Management and Trading Documentation streams

Director, Credit Risk Management Audit (2012)

Performed credit risk reviews of Internal Credit Obligor/ Grade ratings (IGs) for Issuers / Institutional & Commercial clients and their credit facilities for the wholesale loan portfolios, FX, derivatives lines, etc.

Proactively monitored and assessed assigned weak borrowers in the Financial Services, Oil & Gas and diversified industries including monitoring market data such as share prices, EDF, CDS and loan secondary prices

Performed financial statements' analysis, profitability, risk analysis of counterparty credit risk exposures

Audited credit risk management processes/systems which resulted in replacement of the counterparty credit risk system

Reviewed Counterparty Credit risk Capital methodology & reporting and later assisted with the development and update of Counterparty Credit policies and procedures to satisfy account regulatory expectations and best practices

TRIADO FINANCIAL GROUP INC. 2008

Director, Hedge Fund Manager/ Trader

Launched and managed Long / Short and Emerging markets equity portfolios

Performed security selection through fundamental security analysis for Financial Services and Commodities sectors

Traded Equities, ETFs, Commodity Derivatives, Equity Options including Volatility based products

Performed technical analysis to identify entry points for the investments positions

HSBC BANK USA 2006 – 2008

Vice President, Trading & Risk Management Audit

Performed audits of Market Risk Management, Credit Risk Management, Model Validation, Financial Product Control / Derivatives Middle Office and Front Office Trading & Treasury groups in New York, Chicago and Toronto offices

Led New Products Due Diligence and Structured Transactions Approval process reviews

Ensured compliance with Capital Adequacy Requirements and market risk Basel requirements in the US and Canada

Analyzed and validated trading business processes, risk systems and provided consultation to business line management on the identified internal control weaknesses / gaps as they relate to Capital Markets & Treasury businesses

Reviewed Value at Risk methodologies, risk systems and stress testing of trading portfolios results

Richard Tiagi tel: 917-***-**** / 305-***-**** Email: ******@*****.***

KNIGHT CAPITAL GROUP INC. (KCG Holdings) 2005 – 2006

Vice President, Trading & Alternative Investments Audit

Performed analytical review of trading portfolios and risk management strategies as well as risk-based and compliance audits of the firm’s trading businesses in the areas of Trading, Research, Risk Management, Compliance and Valuations

Performed due diligence and risk-based audits of the Deephaven Capital’s multi-strategy hedge fund with $4bln under management in the areas of Portfolio and Risk Management & Analysis

Provided a leadership role in identifying internal control weaknesses, and championing the migration of best practices throughout the trading firm (Sarbanes Oxley compliance)

Advised management on rebuilding of the risk management functions including new VaR engine at the broker/dealer

CANADIAN IMPERIAL BANK OF COMMERCE (CIBC / CIBC WORLD MARKETS) 2001-2005

Senior Auditor/Manager, Trading & Treasury Audit (2003-2005)

Performed risk-based audits of Treasury and bank's trading businesses in New York, London, Toronto, Barbados and Tokyo in the areas of Risk Management, Valuations, Operations, Trading & Compliance

Managed global risk management audit engagement for Toronto, New York and London offices of the investment bank as well as a number of other Treasury audits including hedge effectiveness testing &implementation (FAS133)

Represented audit on a New Business Initiative related to Equity Derivatives platform implementation

Associate/Analyst, Commodity Derivatives Middle Office (2001– 2003)

Performed trade capture verification for OTC derivative structures, produced structured ISDA trade confirmations / client valuation statements (Profit & Loss) and assisted in performing collateral management function

Designed and presented to senior management the results of Key Credit Risk Indicator packages for OTC Commodity Derivatives including largest mark-to-market & credit exposures, ISDA & CSA status, Netting eligibility monthly

Proactively collaborated with clients, traders, marketers/ structurers, credit risk management and Legal Advisory to resolve market-to-market/collateral and OTC derivative transaction/documentation disputes with counterparties

UNIVERSITY OF TORONTO 1999 - 2001

Teaching & Research Assistant, Department of Economics

RBC DOMINION SECURITIES 2000

Summer Associate Advisor, Wealth Management - Private Client Financial Services

TRIADO HOLDING B.V. – THE NETHERLANDS 1995 - 1996

Export Manager, Sales & Marketing - International Trade

EDUCATION

University of Toronto

Masters in Economics, specialized in Economics and Finance (2001)

Completed graduate courses in risk management & accounting at Rotman School of Management

Western University

Bachelor of Arts (1998) and D.H.S. in Economics (1999), Graduated with Distinction

PROFESSIONAL DEVELOPMENT AND TRAINING

Chartered Financial Analyst (CFA) charter holder with the CFA INSTITUTE (AIMR) - 2004

Financial Markets Risk Manager (FRM) designation with GARP - 2007

Completed all Certified Public Accountant (CPA) exams - 2007

Certified Financial Services Auditor (CFSA) with Institute of Internal Auditors - 2005

Completed FITCH training on Counterparty Credit Risk in Derivatives – 2012

Member of NYSSA and SIFMA societies in New York (2005 – present)

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