Aaryan Parakh
Burlington,ON
Summary
Strategic and results-oriented business leader with experience in delivery, planning and managing operations. Skilled in developing and executing business plans to maximize profitability, streamline operations and maintain compliance with industry regulations. Proven people leader motivates and optimizes staff performance and productivity.
Overview
20
20
years of professional experience
Work History
Managing Director
Sia Partners Inc
05.2021 - Current
- Led and managed 30+ staff across 5 active engagements with global banking and wealth clients across both Canada and US
- Working with stakeholders across US, Canada, France and UK thereby maintaining strong business and client relationships which have resulted in bringing new business engagement opportunities for the organization
- Successfully Led and managed a regulatory KYC Remediation project valued at over $1.5mn and hired 22 resources within 2 weeks as part of the project
- Managing client engagements in excess of $2.5mn with over 15 on site team members in Capital Markets and Wealth management domains, Negotiated SOW’s/SLA’s identified key talent and finalized engagement fees
- Driving factor responsible for growing the Toronto team from 35 to employees within a span of 9 months
- Worked on different RFP and RFQ requests for the Toronto and US teams which have resulted in successful project conversions for the organization
- Leading the Operations Workstream on SBSDR (SEC) & CFTC Re-write Regulatory Initiatives Project Implementation which includes designing processes such as Portfolio & Trade Reconciliation, Confirmations, Settlements, Clearing & Portfolio Compression, developing Target Operating model for the business
- Working with both business and Technology stakeholders to translate regulatory rules into tangible business and technology requirements
- Representing the bank on various industry forums and provide key project deliverable updates to executive stakeholders
- Client Delivery engagement - Working with vendor platforms and technology to design relevant architecture solutions and business processes for SBSD & CFTC Reporting within Large Canadian Bank
- Client Delivery engagement - Developed Target Operating model, conduct impact assessment, documented business requirements and worked with Technology and other stakeholders to finalize system design and develop controls for pre trade and post trade processes at Large Canadian bank
- Client Delivery engagement - Defining Business strategy, developing current state vs future assessment on Fixed Income trading & business processes for Large Global bank, identifying gaps and providing solutions for automation and improvements.
Senior Manager
CIBC
11.2019 - 05.2021
- Managing the Regulatory Reporting Trade reporting function covering 9 jurisdictions (OSC, CFTC, EMIR, HKMA etc) with a team of 15 members while having oversight of daily controls and processes
- Leading SFTR, MIFID, CFTC, IIROC and HKMA regulatory initiative projects using Agile and Waterfall methodology
- Leading Ops migration project for CFTC & DTCC NOA Re-architecture, key project on SFTR integration, IIROC Phase 2 Debt Reporting, HKMA Technical Specs - Reporting, ASIC Reporting, creating employee onboarding and Learning maps for new joiners
- Led Scrums, participating in sprint discussions and create user stories and key tasks pertaining to delivery of projects in partnership with technology and other internal stakeholders as part of the full project lifecycle
- Responsible for review of over 75 Regulatory processes and controls across Jurisdictions as well as creation of new processes to strengthen Regulatory reporting oversight for the bank, also reducing 1FTE effort overall
- Manage the prioritization of key regulatory items and initiatives using a risk-based approach and assisting with testing of tech changes
- Primary Technology Liaison and lead on detailed data analysis for key regulatory projects
- Key point of contact and face off for Audit, Compliance and business stakeholders
- Developing Key Performance Indicators for Regulatory Reporting oversight with management using an Operational risk and control as well as Regulatory requirement lens
- Strong working knowledge of trade platforms such as Bloomberg, Broadridge, xTrader, MarketAxess, Wallstreet for fixed income and derivatives trading
Assistant Manager
Scotiabank
09.2019 - 11.2019
- Managing a team responsible for executing and drafting of FX Option and Metal Derivative Confirmations
- Prepare key control reports including KPI/KRI as per existing SLA’s for senior stakeholders and management
- Working on key project management and process improvement initiatives within different areas of confirmations & other processes across Capital markets
- Working on key capital market booking systems such as Wallstreet and MUREX
AVP
Barclays
06.2013 - 07.2019
- Capital Markets Operations & Group Resilience, Managed a team of 100+ people across 3 different locations and shifts
- Drafted Legal ISDA/Non ISDA Confirmations as well as ensured key economics of the trade are affirmed and any discrepancies are timely resolved in order to meet regulatory confirmation SLA’s (EMIR, CFTC, SGP etc)
- Weekly reporting to senior Ops management and Front office stakeholders to provide detailed synopsis of KPI/KRI as per agreed SLA
- Directly responsible for the reduction of 8 FTE on back of 4 Lean/process improvement initiatives within the business
- Partnered with IT on migration of trades from MUREX (FX) Sophis (EQD) and Summit (IRD) to Internal systems at Barclays
- Worked on $20mn project on source system migration for various products as part of MIFID and HKMA Go Live requirements
- Project and Change Management role, which included successful delivery of projects on Disaster Recovery & Cyber Security incident management & completion of key execution priorities as per the Internal Change Management process & PM guidelines
- Managing and embedding risk & governance framework including work on risk level documents, Audit & RCSA
- Site Lead for Chennai location and helped creation of standard operating procedures as well as key POC for Vendor management
- Managed Crisis and incident response across India as well as ensuring Disaster recovery strategies were periodically validated
Business Analyst
Morgan Stanley
03.2013 - 06.2013
- Conducted interviews with key business users to collect information on business processes and user requirements.
- Analyzed key aspects of business to evaluate factors driving results and summarized into presentations.
- Applied honed problem-solving skills to analyze and resolve issues impacting business operations and goal achievement.
- Improved business direction by prioritizing customers and implementing changes based on collected feedback.
Financial Risk Analyst
Student Finance England
09.2012 - 03.2013
Customer Service Senior Support Analyst
Teleperformance
03.2011 - 03.2012
Relationship Manager - Financial Advisor
Religare Financial Investments
10.2010 - 12.2010
Confirmations & Quality Assurance Analyst
Tata Consultancy Services
11.2009 - 08.2010
Advertising & Marketing Manager
M/S Sunita
06.2003 - 10.2009
Education
Masters - Banking, Finance & Operational Risk Management
Glasgow Caledonian University
2012
Hons Degree - undefined
St Xaviers College
2006
Project Management Professional - Project Management
Project Management Institute
09.2023
Lean Six Sigma Black Belt Certification -
Management Strategy Institute
2022
Skills
- Team Collaboration
- Quality Assurance
- Business Planning
- Project Management
- Business Development
- Strategic Planning
- Operations Management & Leadership
- Business Requirements
- Process Optimization & Lean Methodology
- Microsoft Office 365
- JIRA, Confluence & SQL
- Capital Markets Products and Processes
Affiliations
Highly organized, people centric Leader with 12 plus years’ experience in coaching, mentoring and managing small to large scale size teams (5 to 100 plus employees)
Award winning, driven and performance focused individual with close to 20 years of diverse experience of which 14 plus years are primarily in Banking and Financial Services Industry
Over 12 years of experience in Capital Markets with knowledge of financial instruments, ranging from OTC derivative products like Interest rate, Credit Derivatives, Equities, FX as well as Fixed income and Repos
Creating strong business development opportunities by managing business engagements over $3mn and actively supporting hiring and placement of staff on engagements and RFP’s with various global financial and technology clients.
Strong knowledge of drafting and negotiating SOW’s, defining SLA’s and client negotiations on fair pricing/budgets
Detailed Business understanding of Capital Markets Trade life Cycle with hands on experience across Confirmation, Payments and Regulatory processes
Working closely with Clients, Process Owners and SMEs to provide data and cost benefit analysis as well as review the monthly/weekly governance reports and represent the business on senior stakeholder forums
Strong knowledge in conducting impact assessment, gap analysis, documenting requirements and implementing internal controls within processes for Fixed income & Derivatives trading business lines
Experience in writing and reviewing BRDs, Project lifecycle and working knowledge of Azure, TFS, JIRA & Confluence
Led the project for mandatory SWIFT and MIFID II Regulatory changes which included liaising with multiple stakeholders from Legal, Compliance, Technology, Front Office and Operations
Worked with IT and business in successful creation of back-office matching system for FX trades, which resulted in reduction of risk for both confirmations and settlement teams
Hands on individual known to recognize critical risks and design and implement mitigating internal controls, identify key problems and provide creative solutions. A positive win-win approach, prioritizing and leading from the front has always ensured the team has succeeded in challenging situations. Working experience of RCSA, SOX and Audit controls
Expertise on Confirmation Matching Systems (Intellimatch), Trade Documentation (Thunderhead), Swifts (Payment and Confirmation Messages)
Knowledge of Trading platforms such as Bloomberg, Broadridge, xTrader & 3rd Party Applications (MISYS/GTSS/FXAll, MUREX, Summit, Sophis, WSS, DTCC, GBS etc.)
Responsible for Migration of trade data from Murex to inhouse trading system, working with developers, business leads and risk/compliance teams
Working exposure of Clearing rules, Pre trade processes, Regulatory Requirement framework, developing Target Operating model and impact on confirmations (EMIR, CFTC, MIFID, MAS, HKMA) & other back office functions
Strong understanding of Lean methodology including Agile, Scrum, SDLC and Waterfall approach in project delivery
Skilled in Project Management, managing projects over £2mn and primary liaison for implementing process improvement initiatives within the department specially on improving STP and electronic execution of trade confirmations
Languages
English
Native or Bilingual
Hindi
Native or Bilingual
Timeline
Managing Director
Sia Partners Inc
05.2021 - Current
Senior Manager
CIBC
11.2019 - 05.2021
Assistant Manager
Scotiabank
09.2019 - 11.2019
AVP
Barclays
06.2013 - 07.2019
Business Analyst
Morgan Stanley
03.2013 - 06.2013
Financial Risk Analyst
Student Finance England
09.2012 - 03.2013
Customer Service Senior Support Analyst
Teleperformance
03.2011 - 03.2012
Relationship Manager - Financial Advisor
Religare Financial Investments
10.2010 - 12.2010
Confirmations & Quality Assurance Analyst
Tata Consultancy Services
11.2009 - 08.2010
Advertising & Marketing Manager
M/S Sunita
06.2003 - 10.2009
Masters - Banking, Finance & Operational Risk Management
Glasgow Caledonian University
Hons Degree - undefined
St Xaviers College
Project Management Professional - Project Management
Project Management Institute
Lean Six Sigma Black Belt Certification -
Management Strategy Institute
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