Product Management and Business Solutions

HOWARD GERRINGER

Marlboro, NJ adif43@r.postjobfree.com

732-***-**** https://www.linkedin.com/in/howard-gerringer/

Highly motivated and accomplished professional with 20+ years of experience in risk, trading, operations, product management, business analysis, electrical engineering and technology. Passion for building risk processes and implementing solutions, and am driven to work in a role where I can have a positive impact on business operations. Proven track record in leadership, partnership, communication, and employee development, with a keen ability to drive projects and analytical strategies.

CORE COMPETENCIES

• Business Development & Solutions • Data Analysis & Performance Metrics • Financial Modeling & Forecasting

• Trading and Risk Management • Business Operations / Team Leader • Project & Product Management

• Process Reengineering / Transformation • Asset Management, P&L, Valuation • Budget Administration

SELECTED ACHIEVEMENTS

Serve as an expert in exposure metrics at a major financial institution to ensure firm wide counterparty credit risk is appropriately measured and represented for derivatives, securities financing, and futures & options transactions. Ownership of the credit infrastructure resolving data quality issues and software product development to help manage counterparty exposures and risk. Managed team of seven staff members focused on executing key risk transformation projects globally. Liaised with partners across departments including trading, risk, CDO, finance, operations, technology, legal, and audit.

Data Governance business lead in the risk space with hands-on data transformation experience automating processes and E2E workflows. Key SME representing credit for decommissioning existing credit risk database and creation of a single unified database to be shared amongst the risk, capital, and finance organizations. Work with risk finance controller’s on reconciling data between credit and the general ledger.

Instrumental in helping to launch a commodities trading business from the ground-up at a major financial institution. Created and managed North American Operations team of four staff members responsible for oversight of the risk system and reporting of daily prices/volatility, P&L, and risk drivers for a diverse portfolio of power, energy, metals, and agriculture products. Managed Operations for a business that saw sales and trading revenue grow from $10 mm to over $1 bln. Regular interaction with finance and product control to confirm transactions are accounted for properly on the GL.

Product development and solutions manager for a global leading energy trading and risk management software firm. Helped company grow from a start-up to a global leading enterprise. Managed the product strategic development, integration, and testing of end-to-end global power trading and scheduling functional requirements. International experience consulting with clients globally during the sales process and during implementation of customer requirements into the trading and risk system. Experienced in OpenLink, Right Angle, and Aligne ETRM systems.

Risk manager with oversight of position managing the P&L of commodities portfolio for a deregulated utility. Implemented value-at-risk (VAR) framework to manage commodity portfolio risk.

Produced 27% of revenue on real-time desk trading physical and financial power in the Mid-Continent, NYISO, and NEPOOL markets. Managed generation bid submission process for client owned facilities in PJM and NEPOOL.

Engineered design and development of overhead electrical distribution and substations. Managed substation and distribution projects from $40-60 mm and $6-14 mm; respectively, from design phase through to construction. Tested and approved new equipment procured from manufacturers and KPI analysis of failed equipment used in the field.

EDUCATION AND CERTIFICATIONS

Master of Business Administration (MBA), Banking and Finance; Hofstra University, Hempstead, NY

Bachelor of Science (BS), Electrical Engineering; Northeastern University, Boston, MA

Certificate in Financial Modeling and Forecasting Financial Statements LinkedIn Learning

EXTRACURRICULAR

Member, Board of Directors; Hofstra University Zarb School of Business, Hempstead, NY

PROFESSIONAL EXPERIENCE

JPMorgan Chase, New York, NY April 2018 –October 2020

Executive Director: Counterparty Risk Infrastructure and Data Governance

Global Lead (North America, Europe, and Asia) managing staff of data experts and project managers supporting new onboarding initiatives and resolution of data quality issues impacting exposures and valuations across all OTC derivatives, futures & options, and securities financing asset classes. Managed stakeholder communications, define E2E requirements, redesign processes, and participate in testing of projects that improve exposure methodology and stress testing capabilities across credit. Interface with senior team leads within the lines of business, technology, risk management, regulatory, legal, QR, and audit. Manage the global budget and prioritize projects for CCIC.

· Serve as an expert in exposure metrics and trade valuations to ensure firm wide counterparty credit risk is appropriately

measured and represented.

SME for data transformation projects within risk space requiring process re-engineering automation of data quality checks. Remediate data quality issues, validated data is fit-for-purpose, developed data definitions, and identified E2E data flows in working with technology, finance, and the CDO Work closely with CDO and other business partners.

Managed team of 7-staff members focused on executing key risk transformation projects globally such as CCAR, Basel, new onboarding initiatives, and remediation/controls of key data impacting exposures.

Presented key risk metrics impacting the business in various executive steering committees.

Developed understanding of credit drivers impacting exposures such as the benefits of netting, collateral, legal MTM, and wrong way methodology.

Part of team that created the E2E framework to risk manage both house and client transactions (exchange listed and OTC derivatives) cleared through a CCP (CME, ICE, LCH, OCC, FICC, NSCC, etc.) which includes, but not limited to, futures, options, stock indices, FX, rates, equity, commodities, commodity indices, and repos.

Product management of applications and tools designed to support risk and identify erroneous data and capture asset

materiality of model and market data (MOMA).

Executive Director: Credit Risk & Infrastructure: Commodities April 2008 –March 2018

Responsible for driving all credit commodity related initiatives to support the continued expansion of the commodities business. Provided commodities expertise and knowledge share sessions to educate credit executives responsible for managing portfolio of clients trading commodities across different business sectors. Liaised with management teams across trading, marketing, QR, technology market risk, operations, legal, and various support groups to resolve issues and to review new business initiatives.

Tasked to lead strategic end-to-end onboarding, integration, and testing of credit requirements from risk management systems Endur, Athena, and Right Angle into credit for all physical and financial instruments and commodities, including power, natural gas, oil, coal, gas liquids, agriculture, plastics, emissions, base and precious metals. Testing required validation of trade valuations and counterparty exposures.

Conduct ad hoc risk analysis and scenario stress testing on portfolio for senior-level credit executives and portfolio managers.

Review daily CVA and commodity credit exposures, and provide explains for movements to senior management.

Vice President: Commodity Middle Office Operations April 2005 –March 2008

Instrumental in leading the effort to launch the firm into the energy trading business in global markets. Acted as primary point of contact for trading desk, and technology teams to implement new business solutions and functionality in Openlink Endur (power, gas, and other commodities) and Right Angle (physical oil) trading systems.

Led and created the Middle Office function required to support an energy trading desk. Managed a staff of four trade support representatives.

Provided trading desk and senior management with a daily assessment of the energy business unit’s physical and financial trading positions and P&L. Team supported management of both vanilla trades and complex transactions such as BGS power obligations, VPP deals, structured financing transactions, gas prepays, extendibles, etc.

Owned the upkeep of reference data and price information in Endur; including creation of market curves, validation of forward prices, and set-up of new counterparties, portfolios, and physical/financial trading locations. Products supported include power, natural gas, agriculture, oil, coal, emissions, base and precious metals.

Tasked operationally with the reconciliation between internal confirmation systems, trader data, third party broker statements, and exchange statements, and daily checkout in Endur of option exercise and inventory management.

Oversight of scheduling emissions allowance certificates to counterparties via the EPA’s CAMD system. Developed in-house tracking system for management of emission certificates, and integrated system with Endur.

Utilized pricing models developed by Derivatives Research to benchmark valuation of the more complex book of swaptions, extendibles, TARS, spread options, and transactions using price shaping.

Established performance metrics to ensure that sound trading control environment is maintained within the energy trading operation. Engaged business partners within the bank to streamline operational inefficiencies.

PSEG Energy Resource and Trade, Newark, NJ April 2001 –April 2005

Risk Manager

Organized daily risk analysis and P&L of portfolio of energy products to enable clear and concise decision making of market risk.

Responsible for the implementation and reporting of value-at-risk on the commodity trading portfolio calculated within SunGard’s Aligne system including undiversified VAR, marginal VAR, and portfolio VAR. Prepared daily executive level summary report.

Team lead responsible for oversight of the firm’s ETRM systems. Managed enhancements/upgrades to SunGard’s Aligne ETRM system. Implemented GasMaster trading and scheduling system to interface nominations with pipeline operators and for gas storage management (inventory, WACOG)

Product team member that developed a real-time trading tool used to value portfolio risk of physical and financial exposures, and analyze impact of movements in market price, volatility, and time horizon.

Lead effort to implement SunGard’s Aligne product to manage portfolio of SO2 and NOX emissions for inventory management. Reconciled inventory with the EPA.

Benchmarked pricing models used in company’s risk system using both FEA’s @ENERGY product and in-house proprietary models

Sempra Energy Trading, Stamford, CT April 2000 –March 2001

Power Trader

Traded financial and physical power products in NY and NEPOOL, including the submission of generator bids to the NYISO and PJM day-ahead and real-time markets.

Produced 27% of the revenue generated on the Mid-Continent Real-Time desk. Purchased/sold energy and transmission products in ECAR, MAIN, MAPP, SPP, and SERC, and PJM. Duties also included physical hedging, confirming transmission reservations in OASIS, filing of NERC tags in OATI, and real-time scheduling. Created/confirmed schedules within PJM’s e-schedule, e-market, and e-capacity modules. Scheduled power in the NEPOOL market.

Gathered market intelligence to assist term desk in evaluating market conditions.

Senior Business Analyst: Power Trading and Risk Control

Supported power trading desk with risk analysis, daily trade P&L preparation, mark-to-market valuation, and management of physical positions.

Responsible for implementing power trading in the United Kingdom under the rules of the New Electricity Trading Arrangements (NETA); including the submission of contracts to the central agent, sending demand forecasts and generation bids to the system operator, and validating contract volumes and imbalance settlement charges.

Consultant for Sempra’s European Power Desk office on trading, position management, and settlement in the NordPool spot, futures, and options markets. Created new functionality in ETRM system to manage daily, weekly, and monthly futures.

Openlink Financial, Inc., Mitchel Field, NY August 1997 – March 2000

Manager, Business Development Solutions (New York based)

Provided business knowledge to develop the functionality from the ground-up for the power & gas trading and scheduling modules in Openlink’s Endur ETRM system. Liaised globally with clients in North American and Europe to understand their problem statements, and provide system design and implementation solutions. Worked closely with sales team on requests-for-proposals.

Managed the strategic product development, integration, and testing of end-to-end global power trading and scheduling functional requirements for customers to manage their portfolios in OpenLink Endur’s real-time trading and risk management system.

Consulted for clients (Cinergy, Dynegy, PG&E) on E2E system configuration of front, middle, and back office processes. Worked with customers to implement their power, gas, and oil trading business requirements; including model validation/valuation, P&L attribution, risk reporting, complex forward curve modelling, and scheduling.

Provided system training forums on front, middle, and back-office operations to allow users to understand how to navigate the system.

International Business Development (London, England)

Team leader responsible for managing product development to support power and natural gas trading and scheduling operations in various European markets (United Kingdom, France, Germany, Norway).

Closed deals with RWE and HEW, two of Germany’s largest electric utilities, to expand Openlink’s business in Europe.

Managed team of 5 consultants who provided hands-on project management/consultancy services to clients in Europe on the implementation of Openlink’s Endur energy trading and risk management system.

Worked closely with traders, product structurers, and risk specialists to implement the Endur system and provide solutions to gaps between internal business processes and the trading and risk management system being deployed.

KeySpan Energy Hicksville, NY (now PSEG Long Island) April 1990 – August 1997

Electrical Engineer: Overhead Distribution and Substation Design

·Engineered design of interconnected overhead transmission and distribution network to maintain system reliability. Wrote specifications for procurement of new overhead distribution equipment (transformers, reclosers, cables, poles, etc.).

·Designed major transmission and distribution substations, and managed costs of capital improvements. Involved in all aspects of project from design through installation with responsibility for bus and cable sizing, loss calculations, and equipment selection. Engaged with various teams from drafting, real estate (permits), environmental, procurement, relay protection, and construction.

·Inspect, troubleshoot, and failure analysis of distribution equipment.

·Tested performance and reliability of new equipment on-site at the company’s test facility.

·Key member of team responsible for design and functional testing of distribution automation system.

·Researched, evaluated, and wrote specifications for substation transformers, regulators, circuit breakers, switchgear, bus design and other systems.

·Substation coordinator during storm restoration (operating breakers and field switches, coordinating with system operator, and managing surveyors to track system outages).

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