Fawad Ahmad
Woodbridge,ON
Summary
Accomplished finance professional with 15+ years of experience in equity derivatives trading, risk management, and structured products across top-tier financial institutions. Proven expertise in Delta One and Exotics trading, exotic derivatives pricing, and hedging strategies, with a strong track record in optimizing liquidity and capital efficiency. Skilled in model validation, regulatory compliance, and cross-functional leadership. CFA Charterholder and INSEAD Global Executive MBA with advanced technical proficiency in Python, C++, VBA, and trading platforms.
Overview
17
17
years of professional experience
1
1
Certification
Work History
Director - Risk and Head of Equity TRS Trading
TMX GROUP
07.2024 - Current
- Risk management and direction Equity TRS trading activities for single-name, basket, and index based, optimizing execution strategies, liquidity, risk, capital, and operational efficiency
- Led the development of Default Management and Recovery tools, including pre-auction hedging programs, ensuring resilience in Equity TRS operations
- Directed the validation and enhancement of TRS financial risk models, ensuring compliance with PFMI, BoC, CFTC, and SEC
- Led model validation processes for Total Return Swap (TRS) base margins and add-on risk models
- Designed and implemented monitoring tools for credit, liquidity, market, and counterparty risk exposures
- Cultivated and maintained strategic relationships with clearing members, liquidity providers, and key market participants, ensuring alignment for trading, risk management needs, and liquidity solutions to expand the client base
- Identified market needs, enhancing TRS product offerings, aligning CCP services with industry to boost adoption and liquidity
- Published, developed and operationalized proactive risk-based policies and guidelines
Director - Global Equity Derivatives Trading
TD SECURITIES
11.2022 - 07.2024
- Trade, price, and structure equity derivative products on indices and single-name stocks for the Exotic and Delta One/ Equity Finance desks
- Price, structure, and hedging of exotic derivatives, including options, structured products, and hybrids
- Make markets and manage portfolios in Delta One/Equity Finance products, including Swaps, Repos, Secured Funding, ETFs, Futures, Forwards, and Structured Products
- Design hedging strategies to generate revenue, create liquidity, and manage risk for Exotic and Delta One portfolios
- Risk management for single-name, custom basket, illiquid, MSCI, and indices across vanilla and exotic products
- Utilizing listed and OTC equity, fixed income, and credit instruments for hedging purposes
- Facilitate and re-engineer business processes to streamline risk and trading functions
- Coordinate with Sales, Structuring, other trading desks across markets to optimizing revenue, strategy, and capital
- Manage full cycle ETFs and indices, including production, data use, and market making via create-to-lend strategies
- Conduct market research and analysis, develop pricing models, and ensure compliance with market regulations
- Manage and mentor junior traders, providing guidance and feedback to improve their skills and growth
Associate Director - Global Equity Linked Products Trading
RBC CAPITAL MARKETS
01.2014 - 08.2016
- Execution, Pricing, and Risk management of vanilla, equity exotics, and structured products
- Risk management of single-name stock, core, illiquid, indices, vega, gamma, dividends, and cross-asset correlation
- Developed VBA tools in collaboration with IT for the whole equity structuring desk and risk management refinement
Associate - Collateral Management
BMO CAPITAL MARKETS
11.2012 - 12.2013
- Managed collateral agreements, margin calls, and implemented policies for DFA, CFTC, and Basel II & III compliance
Analyst - Fixed Income, Securitization, and Distribution
CIBC WORLD MARKETS
04.2011 - 11.2012
- Managed $1 billion+ program, overseeing securitization of loans and trust and developed its Credit Risk Model
Investment Analyst
RBC CAPITAL MARKETS
02.2008 - 03.2011
- Calculate, corroborate, and report Net Asset Valuations and yields to media, clients, and other interest parties
Education
Global Executive Master of Business Administration - Global Finance Executive MBA
INSEAD
Paris, France06-2023
CFA Charterholder -
CFA Institute
Toronto, ON06-2014
Honors Bachelor of Economics - B.Econ.Hons.
York University
Toronto, ON01.2007
Skills
- VBA
- Python
- SQL
- Visual Basic
- MATLAB
- C
- Java
Languages
English
Native or Bilingual
French
Full Professional
Italian
Limited Working
Certification
- Bloomberg
- Reuters
- Sophis
- Summit
- ION
- Broadridge
- Kondor
- Murex
- Calypso
- SwapOne
- Fidessa
Timeline
Director - Risk and Head of Equity TRS Trading
TMX GROUP
07.2024 - Current
Director - Global Equity Derivatives Trading
TD SECURITIES
11.2022 - 07.2024
Associate Director - Global Equity Linked Products Trading
RBC CAPITAL MARKETS
01.2014 - 08.2016
Associate - Collateral Management
BMO CAPITAL MARKETS
11.2012 - 12.2013
Analyst - Fixed Income, Securitization, and Distribution
CIBC WORLD MARKETS
04.2011 - 11.2012
Investment Analyst
RBC CAPITAL MARKETS
02.2008 - 03.2011
Global Executive Master of Business Administration - Global Finance Executive MBA
INSEAD
CFA Charterholder -
CFA Institute
Honors Bachelor of Economics - B.Econ.Hons.
York University
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