Operations Professional

Paul M. Flahive

** ******** ***** ****, ******, CT., 06468

Tel. 203-***-****

email: *********@*****.***

Qualifications Profile

Solutions oriented Financial Services Executive with broad knowledge, experience and record of success in managing Securities Operations, Specializing in Listed Derivatives, Regulatory Risk & Compliance, Business Continuity Management, Project Mgmt and Process Re-engineering for large financial institutions. Proven ability to manage staff and projects designed to support business initiatives, increase profitability and cost control, while ensuring the functional requirements of the business are met.

Professional Experience

Private Client Resources LLC, Director of Operations 3/2008 to 11/2008

Boutique firm that collates all asset information for high net worth individuals and family offices including marketable securities, hedge funds, alternative investments, operating businesses, partnerships, personal use assets and insurance.

Primary responsibilities included: a) the completeness and accuracy of all client data across a wide range of financial products, b) Trade / Data Processing; c) System Administration: d) Project Management.

• Directly managed a group of 20 Operational line analysts and supervisors

• Project Lead on implementation of ‘Eagle’ Portfolio Mgmt. system; responsible for system admin and processing

• Directly responsible for external consultant and vendor relationships, budget and SLA

• Audit & cleanup of material volume legacy position data, resulting in measured reduction of client reported issues

• Audit and update of all inbound electronic transaction and position files, facilitating automation of recons

• Improved manual and automated workflows and processes, improving operational efficiencies, with less headcount.

UBS Investment Bank, Associate Director 4/1998 to 3/2008

Regulatory and Compliance Control Group Manager; Business Continuity Manager (1/2006 – 3/2008)

Senior Project Manager, Business Development & Initiatives (1/2003 – 1/2006)

Global Static Data Manager (1/2000 – 1/2003)

Client Service Manager (4/1998 – 1/2000)

Regulatory and Compliance Control Group; Operations Business Continuity Manager (1/2006 – 3/2008)

Responsible for validating the completeness and accuracy of all Ops sourced regulatory reports submitted by the UBS broker dealer to North American Regulators and SRO’s

• Liaised internally with Compliance, Finance and Operations, and externally with Regulators and SRO’s to ensure regulatory reporting and supervisory requirements were understood and complied with by all internal stakeholders

• Closed existing regulatory gaps by employing my experience, leadership and project management skills to:

o Comply with NYSE / FINRA Regulatory Supervisory requirements, principles & accountability by developing and implementing an on line Operations Functional Supervisory Tool, and auditing Desktop and Written Supervisory Procedures

o Developed and applied ‘Regulatory Report Risk Assessment and Measurement Program’ to all regulatory reports submitted to US Regulators and SRO’s, prioritizing reports for validation based on risk assessment

o Validated the completeness and accuracy of regulatory reports based on the broker dealer’s business activity vs. reporting rules. Documented results, remediated known reporting gaps, implemented controls, workflows and processes to mitigate regulatory reporting risk

o Improved accuracy of FOCUS and TIC reporting by initiating a review of all Ops sourced FOCUS data; re-engineered and standardized FOCUS workflows across all Ops streams into the Financial Reporting group, resulting in a reduction in FOCUS reporting risk while satisfying NYSE / FINRA Supervisory rules

o Managed global project to migrate all US futures Regulatory Reporting from R&N to GMI software

• Evaluated and modified internal operational regulatory reporting functional ownership and organization structure

• Reviewed impact of New Business Initiatives on regulatory reporting

• Operations Risk Lead for the broker dealer for all Listed Derivative reporting (futures, equity options)

• Operations Business Continuity Manager for the UBS North American broker dealer

• Reviewed and modified vendor SLA’s as related to regulatory reporting and BCM requirements

Project Manager, Business Development & Initiatives (1/2003 – 1/2006)

Worked cross functionally between the Front Office, Financial Reporting, IT, Compliance and Operations streams, managed large scale projects, delivering on time and within budget. For example:

• Mergers & Acquisitions: a) UBS / Swiss Bank; b) UBS / Paine Webber; c) UBS / ABN Amro: Integrated account and commission Static Data, and Ops functions / processes such as Regulatory Reporting, Reconciliations, Trade Processing, Cash & Collateral; coordinated integration UAT, and resolution of pre and post integration issues

• Satisfied New Business Initiatives by directly managing projects such as new exchanges and new clearing relationships, working cross functionally internally, and externally with exchanges, vendors and clients to ensure efficient and controlled clearing of new Business in compliance with regulations

• Designed and implemented ‘Global Listed Derivative Product Development Program’, standardizing new product development processes and controls, ensuring new products ‘functioned’ correctly on internal books vs. exchange, vendor and client systems

• Futures Regulatory Reporting: Eliminated known regulatory breaches and increased efficiencies by re-engineering and automating regulatory reporting processes and workflows

• Brokerage Payables/Receivables, Exchange Fee Payables, Accruals: Managed project to re-engineer workflows

• IRS Taxation: Implemented automated solution to tax withholding and 1099 reporting for Futures clearing

• Designed & managed implementation of New Account Workflow Tool, facilitating controlled client on boarding.

Global Static Data Manager (1/2000 – 1/2003)

Built new Global Static Data department to fill known data gaps by designing and implementing standardized, controlled processes and procedures globally:

• Directly managed and grew department from 4 to 14 employees globally within two years, retaining all staff

• Focus on data management across multiple dB's, books and records, trade processing applications, specifically account, instrument, regulatory, credit, commission, trade processing, MIS and margins

• Project Management Audited and cleaned up derivative instrument, account, expiry, commission, margin data across a network of dB’s; filled known data gaps by managing and implementing standardized ‘account group codes’ across all dB’s globally, aligning accounts by ‘type’, resulting in more accurate downstream reporting, ensuring data was developed and implemented in a consistent, controlled and scalable manner

• Exchange Fee audit resulted in rebates of $2mio to UBS from multiple exchanges

• Documented and implemented globally controls and desktop and written supervisory procedures

• Cost Management / Accounting: Built and maintained global ‘cost to execute & clear matrix’, ensuring all costs were accurately coded within ‘cost type buckets’ across ETD’s global trade processing dBs; process resulted in ability to identify and address cost to net revenue gaps.

Client Service Manager (4/1998 – 1/2000)

Integrated and transferred Swiss Bank & UBS Derivative client service & back office functions from Chicago to Stamford, CT; interfacing across the Ops, IT and Business streams to build new Derivative client services group

• Managed the integration of Swiss Bank and UBS Exchange Traded Derivatives trade processing applications

• Contributed to development, testing, marketing and implementation of proprietary client facing, on line trade processing / reconciliation software

• Contributed functionally and technically, on a management level, to exponential business growth (from 24th to 2nd per FIA industry stats), developing, enhancing and managing new departments and functions critical to a growing the businesses in a measurable and controlled environment

Newedge Group (Calyon Futures), Client Services Manager 1994 to 4/1998

Responsibilities included interfacing with and reconciling client accounts front to back, including Cash, Interest & Treasury mgmt margin calculation, currency conversions and client credit risk management

• Managed accrual and payment of execution fees and related legal and documentation requirements.

• Developed proprietary trade execution system, automating invoice production/distribution, payable/receivable accruals and auto booking to the GL of same

• Assisted with development, marketing, installation, training of proprietary Real-Time client facing trading software

• Balanced Fund / Managed accounts global trading activity and currency / risk exposure. Liaison between Fund’s clearing broker and the Fund’s General Partner

• Front to Back knowledge of Derivative back office procedures regarding client to broker to street reconciliations, commodity and financial product deliveries.

ED&F Man / Heinold Asset Management / Barnes & Co 1986 to 1994

Operations Analyst; Trader; Commission / Cost Accountant

EDUCATION

TRINITY COLLEGE, DUBLIN, IRELAND

Bachelor of Arts, Joint Honors - English & History, MA - History

TECHNICAL SKILLS

MS Office Suite (incl. Visio, Powerpoint & Project), Rolfe & Nolan, GMI, Broadridge (ADP), Clearvision, Eagle.

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