Avinash Patel
Toronto,ON
Summary
Experienced Risk Manager adept in working and performing well in rapidly changing business environment. Broad and diversified global experience of more than 15 years in financial services with focus on Risk Management and Valuation control. Dynamic self-starter with proven ability to identify and mitigate risks. Excelled in Market Risk Management and Stress Testing, contributing to strategic decision-making and operational excellence.
Overview
17
17
years of professional experience
Work History
AVP, Market Risk Management
HSBC Canada
Toronto, ON
12.2021 - Current
- Market risk management for trading and non-trading portfolios. Supporting management in the development, design, and implementation of risk management practices and control enhancements.
- Responsible for provisioning of market risk information to senior management. Including market risk exposures, risk trends, concerns, major drivers and explaining changes in risk profile.
- Working with business/front office and other risk areas to appropriately set risk appetite, risk tolerances and other limits to ensure alignment with firm’s overall risk appetite.
- Lead the Value at Risk (VaR) Back-testing, Risk Factors Monitoring, historical market data and other data/processes which support the Value at Risk (VaR) models framework.
- Responsible for market risk capital calculation, reporting and substantiation. Managed capital initiatives targeted towards RWA optimization and implementing new regulations.
- Providing independent review and challenge on the risk-taking activities while monitoring limit utilization as well as driving periodic and ad-hoc limit calibrations. Reviewing new products and strategies to identify material risks, ensuring effective controls to enable appropriate risk management.
- Lead the implementation of stress testing program to ensure regulatory compliance, involved in scenario design, execution, impact analysis including capital impacts. Additionally, lead the execution of annual stress-testing exercises like PRA ST, EBA ST, OSFI MST etc.
- Responsible for key risk management processes as they relate to IRRBB, including risk identification, risk policies and limits, risk appetite, and stress testing, while also participating in broader risk and capital initiatives such as ICAAP.
- Serving as liaison with regulatory examiners, Internal Audit, and external auditors on critical Risk issues and overseeing the implementation of related remediation.
- Directing and managing traded risk projects to comply with local and global regulations. Oversaw implementation of Fundamental Review of Trading Book (FRTB) as a key stake holder and SME, contributing to overall enhancement of FRTB framework.
Manager – Market Risk
HSBC Bank Canada
Toronto, ON
12.2015 - 12.2021
- Daily monitoring of risk-taking activity, reviewing market risk limits, communicating key risks and critical issues to Senior management.
- Reviewed new products and assisted regulatory reporting and stress testing to ensure appropriate support is provided towards regulatory and business growth initiatives.
- Responsible for ongoing change initiatives, enhancements projects and managing systems infrastructure involved in delivering market risk management function that meets high standards.
- Preparing and developing regular and time-sensitive ad-hoc deliverables. Research and explain changes in Sensitivities, Value at risk, and Risk Weighted Assets.
- Assist the Head of Traded Risk in the development of a centralized, integrated Traded Risk Management Unit for the bank and all consolidated entities’ assets and liabilities.
- Supported Market Risk management with all major market risk related task in capacity to back up senior market risk managers.
- Cross-trained existing employees to maximize team agility and performance.
Manager - Valuation Control
SS&C GlobeOp
04.2010 - 08.2015
- Managed a team of Valuation Analysts (10+ personnel) performing valuation control and independent pricing of Over-the-Counter Derivatives, Fixed income Securities and various exchange traded instruments for some of the biggest hedge funds in the world.
- Performed daily valuation, analyzed mark to market valuation changes, profit and loss impact and Month End market valuation substantiation.
- Adhered to client's valuations Policies and Procedures, while participating in policy creation as and when necessary.
- Experienced in utilizing external pricing sources and market data vendors like Bloomberg and Reuters.
Senior Associate - OTC Derivatives
SS&C GlobeOp
01.2008 - 03.2010
- Responsible for settlement of cash for various OTC Derivative instruments, including investigation resolution of cash related breaks.
- Formulated operational strategies for the team to increase efficiency. And assisted to drive process change in the team focusing on efficiency.
- Reconciled cash for all cash flows between Ledger & Prime Broker Account.
Education
MBA - Finance
SRLIM
Mumbai, India07.2007
Bachelor of Science - Computer Science
SVNIT
Surat, India03.2005
Skills
- Problem solving, multi-tasking
- Capital Markets knowledge, Derivatives valuation
- Fixed Income Analysis
- Market Risk Analysis
- Stress testing
- Interest Rate Risk Management
- Bloomberg Terminal Usage
- Volcker Rule Understanding
- Basel III Regulations
- Risk Reporting
- Excel proficiency
Languages
English
Full Professional
Hindi
Professional Working
Gujarati
Native or Bilingual
Punjabi
Limited Working
Timeline
AVP, Market Risk Management
HSBC Canada
12.2021 - Current
Manager – Market Risk
HSBC Bank Canada
12.2015 - 12.2021
Manager - Valuation Control
SS&C GlobeOp
04.2010 - 08.2015
Senior Associate - OTC Derivatives
SS&C GlobeOp
01.2008 - 03.2010
MBA - Finance
SRLIM
Bachelor of Science - Computer Science
SVNIT