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Risk Management Financial

Location:
Newark, NJ, 07102
Posted:
January 31, 2024

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Resume:

Patrick Dignan, MBA

Montclair, NJ ad29wb@r.postjobfree.com 973-***-**** www.linkedin.com/in/patrickdignantd/

Financial Risk Management Executive

Financial Trading Controls Regulatory / Trading Liaison Fixed Income / Derivatives

Executive Summary

Senior financial executive with decades of pioneering experience in financial risk management and trading controls. Expert in creating risk control and mitigation processes for fixed income and derivatives trading; interface between traders and auditors / regulators. Develops thorough, relevant product stress tests, implements policies and limits consistent with risk appetite.

Effective communicator with analysts, traders, external regulators, internal audit staff, and board risk committees. Combines deep grasp of financial risk factors and metrics with wide market understanding and knowledge of trading mechanisms. Distills industry-specific technicalities into business-friendly language. Member of multiple risk governance committees.

Team builder who possesses both quantitative skills and risk understanding, able to integrate business and risk management perspectives and instill risk awareness in analysts and trading teams. Understands trading market risk, non-trading market risk, and liquidity risk, and liquidity risk. Builds effective risk management teams.

Selected Achievements

Member of JP Morgan team developing first formal financial risk management model integrating risk controls and regulatory compliance into trading process.

Recognized as risk expert and key liaison between trading floor and senior decision makers, advising executives on risk environment in business terms to promote risk transparency and sound decision-making and minimize losses.

Build relationships of trust and collaboration with all stakeholders, including internal audit teams and external regulators by proving risk and trading acumen, also earning respect of traders for guidance on risk principles governing trading.

Built exceptional team of respected risk managers to positively affect all aspects of risk governance, including risk strategy, risk-informed decision making, and application of risk principles in daily trading activities.

Core Competencies

Risk Management Trading Controls Market Risk Assessment Risk Governance Internal Audit Regulatory Compliance

Regulator Relations Dodd-Frank Volker Rule Intermediate Holding Companies Fixed Income Derivatives

Mortgage-Backed Securities Collateralized Debt Obligations Asset-Backed Securities Insurance Derivatives

Career History

Toronto Dominion Securities USA New York, NY

Managing Director Vice President Head of Market Risk and Liquidity Risk Management, USA 2009—2019

Senior risk management authority for all Toronto Dominion US trading desks, divisional expert and guide on US market risk conditions to trading staff, board risk committees, and regulators. Ensured trading position compliance with company's risk appetite, regulatory guidelines, and local risk tolerance.

Managed Dodd-Frank compliance with focus on Volker Rule and IHC. Kept all levels of risk management organization aware of current risk issues. Oversaw trading market risk, non-trading market risk, and liquidity risk for US market. Managed team of 15 risk management professionals, voting member of multiple risk and treasury committees, including US ALCO.

Gained promotion to senior risk management role and position on Board Risk Committee by gaining senior executives' confidence in risk and trading acumen, accurate risk market assessment, and ability to bridge trading and risk governance functions to minimize risk and losses.

One of only 6 managers globally selected to participate in unique risk management training program, with events in London, Shanghai, Hong Kong, and Barcelona.

Key risk leader dealing with Federal Reserve to address control concerns and requirements and resolve prior serious regulatory findings, supporting way for New York business unit to be granted primary dealer status.

Merrill Lynch New York, NY

First Vice President and Chief Market Risk Officer, Bank & Treasury 2008–2009

Responsible for all aspects of market risk management of Merrill’s Bank Group and Global Treasury function, reporting into Chief Risk Officer. Led team of 8 risk/liquidity professionals; Member of Board of Directors, Merrill Lynch Bank and Trust, FSB.

Directed analysis of bank's liquidity position, reporting to President and other decision makers, and negotiating with Federal Reserve Board and Office of Comptroller of Currency.

Deutsche Bank, AG New York, NY

Director and Senior Market Risk Manager, Global Securitization and Structured Finance 2003—2008

Led global team of 6 in managing market risk of bank's global securitization and structured finance business platform for residential mortgage-backed securities, commercial real estate, collateralized debt obligations, asset-backed securities trading, and insurance derivatives. Developed product stress tests and reviewed results with senior management. Built economic capital model for business units and products. Member of Legal Entity Committee.

One of top-performing senior managers chosen to participate in very exclusive "risk academy" for top performers among bank's risk management team.

JP Morgan Chase New York, NY

Vice President and Senior Risk Manager, Global Real Estate Structured Finance 2000—2003

Created and applied capital allocation model and EVA framework for global accrual and mark-to-market books. Developed and ran business-specific stress tests. Priced and marked securities positions, including preferred equity investment in CMBS B-piece fund. Created detailed business plan for initiating and managing high yield CMBS fund, including funding requirements and leveraged returns. Business point of contact with controllers, credit, risk management, audit, and legal teams.

Asked to manage commercial mortgage-backed securities business (CMBS) in addition to risk oversight role; oversaw multiple non-performing loan portfolios, achieved cash securitization, and negotiated work-outs to contribute significantly to company's margin.

JP Morgan New York, NY

Vice President and Business Risk Monitor, Corporate Risk Management Group 1994—2000

Developed risk management tools and risk quantification methodologies for structured finance, credit, and interest rate markets, including value-at-risk (V@R), EVA, stress testing, and application of CreditMetrics and RiskMetrics products. Managed risk analyst group responsible for quantitative risk analysis projects. Liaised with Federal Reserve banking regulators on market risk, credit risk, and risk methodology issues.

Part of JP Morgan pioneering risk governance initiative to formalize financial controls and financial risk management into trading process, and integrate regulatory compliance efforts into trading operations, governance model now universal in financial market.

Nominated by supervisor and selected by committee to participate in very selective Morgan Finance Program for top performers, gaining educational equivalent of MBA degree.

Earlier Roles

Senior Open Market Trader, Federal Reserve Bank of New York. Conducted open market operations for FOMC, traded government and agency securities on behalf of Federal Reserve and foreign central banks.

Bank Analyst and Examiner, Bank Supervision Department, Federal Reserve Bank of New York. Performed financial analyses of NYC money-center banks, including on-site examinations.

Education

Master of Business Administration, Finance, New York University, New York, NY

Bachelor of Arts in Economics, Rutgers University, New Brunswick, NJ (3.4 / 4.0 GPA, Honor Society, Dean's List)

Affiliation

Certified in non-profit management; member of Preeclampsia Foundation; Board Chair 2010—2012, Treasurer 2004—2007



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