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GregSolomon–BankingRegulatoryChangeManagement [email protected],+44(0)7771533758
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Banking Risk and Regulatory Change Management – Analysis, Planning, Leadership, Delivery
Summary profi le/experience
GregSolomonhas35yearsoffinancialservicesexperienceatbanks–UBS,Nomura,HBOSTreasury,Egg,AbbeyFinancialMarkets,HSBC,BarclaysCapital,CreditSuisseandDeutscheBank
• ProjectManagement–bankingchange,APMGCertifiedPRINCE2Practitioner,Agile(UBS,HSBC,DB),Waterfall
• Frontofficebankingchangemanagement(18years)–trading,sales,quantitativeanalyticssuchaspricingandhedgingtools,clientecommerce,andITbackgroundasaFOquantitativesystemsdeveloperandtradingsystems
• MarketRisk(10years),bothinthebusiness(DeutscheBank,CreditSuisse,UBS)andinIT(DeutscheBank,BarclaysCapital);lecturedonfixedincomeriskmaths;definedriskmethodologiesforProductControl;KoPsforriskcompletenessmodelriskcontrolaDB,andforcapitalcalculationsrisk&analyticsreportingRTBatCS
• CreditRisk(7years),bothinthebusiness(UBS2017andAbbeyAIRBmodels2005-07)andinIT(BarclaysCapital2012,UBS2007-08,HBOS2003-04)withmoreminorcreditriskworkatXPSecurities2018,DeutscheBank2016,andCreditSuisse2015.SavedCHF3bnRWA,10bnofadjustmentsand250mp.w.ofon-goingsavingsatUBS;LeadPMforgroupcreditriskreportingatUBS
• Treasury:UBS,NomuraHeadofTreasuryIT,WarnerBrosGLs,HBOSTreasuryServices,EggHeadofTreasuryIT
• Finance:HSBCLiquidity,BarclaysCapitalBaselIII,Gerrard&NationalIntercommodities,XPSecurities(IDB)
• Businessanalysis,businessprocessredesign/ToMs,leadershipofBAteamsinspecifications/testing(upto14);qualifiedasGeneralRegisteredRepresentativeinsecurities&derivatives(CharteredInstituteforSecuritiesandInvestment);Nomura’sHeadofFrontOfficeAnalysis(Debt&Equity)
• Quantitativeanalyticsexperiencethroughfirsttenyearsinthecity,andbeyond.Definedquantitativeanalyticsandtargetoperatingmodels;wroteandimplementedmodels(pricingvaluations,marketrisk,creditrisk)withpricing&hedgingtoolsatUBS,andvaluations&modelcontrolsatDeutscheBank(2016,2019)
• RegulatorychangeexperienceworkingonBIPRU,IFPRU,ICAAP,ILAAP,stresstesting,recoveryplanning,MiFIDII,BaselII,III,USBaselIII,CRR,CRD,DoddFrank,BCBS239,IASB,PRAPillar2LiquidityReporting,SFA’sInvestmentServicesDirective,transactionreporting,modelriskcontrols,operationalrisk,andsomeIFRS9andFRTB.RegulatorengagementwithECB,Bundesbank,FCA,SFAandLSE,andsupportedBankofSpainengagements.CertifiedseniorBrexitconsultant.CertifiedGDPRconsultant.
• Numerate,pragmatic,tenacious,delivery-orientated,customer&detailfocussed.Technicalbackground.
Recent and relevant contract assignments
2000todate:contractingthroughowncompanySolomonTradeProcessingltdtotheseclients:-
MiuraDevelopmentRegulatoryConsultant MiFIDIIConsultancy October2020todate
ReturnedtoMiuraconsultancytodevelopaMiFIDIIconsultancyprogrammeworkingwithateamofMiFIDIIconsultants.IdentifiedkeyareasoflikelyfailuresinregulatorycompliancefordifferenttypesoffinancialservicesfirmsbasedonteamexperienceandmarketresearchmappedagainstatraceabilitymatrixfortheMarketsinFinancialInstrumentsDirective(2004/39/EC).ParticularemphasisonTransactionreporting,Pre-tradeandPost-tradeTransparencyanddataqualityissues,withworkon-goingforInvestorProtectiontopics.Wroteoverachingdocumentationforentireworkinggroup
DeutscheBankInterimRegulatoryPM FORegulatoryRemediation–ModelRiskControl twocontractsMar-Dec2019
InterimprojectmanagerprovidingmaternitycovertoDB’sCorporateBank&InvestmentBankworkinginthe‘DivisionalStrats’team(StrategicAnalyticsacrossallbusinesslines)Project:ModelRiskControls–Remediating26regulatoryfindingsoncontrolweaknessesaroundmodels(pricingmodels,riskmodels,othermodels)raisedbytheECB’sAssetQualityReview,theBundesbank,BaFin,theFCA,theexternalauditor,GroupAuditandotherinternalfindingsRole:
• Identifiedtherelevant26regulatoryfindingsthatwereinscopeandstructuredthemintoremediationthemes
GregSolomon–BankingRegulatoryChangeManagement [email protected],+44(0)7771533758
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Banking Risk and Regulatory Change Management – Analysis, Planning, Leadership, Delivery
• Establishedprojectcontrolsforeachbusiness,deliveryschedulesandKPIs.Built-outremediationthemesandplansneededtosolveallfindingswitha2-yearremediationplan,andpresentedthemtotheregulators
• EngagedonplanningwithDeskStratsfromeachbusinesslineacrossEquities&FICbusinessandsecond-lineofdefencecontrolfunctions(ModelRiskManagement,MarketRiskManagementandFinanceGroupValuations),GroupAudit,externalauditor,regulators.Detailed&agreedplans,managedremediationwork
• AlsoresponsibleinIB&CBforthe‘othermodelinventory’outsideriskandpricingmodelsinengagingseniormanagementacrossCB&IBinthereviewandsign-offprocess
Keyachievements:• Deliveredamajor1-dayworkshopfortheJointSupervisoryBoard(EuropeanCentralBankandBundesbank)
toofferdeep-divesintoEquitiesandFICmodelriskcontrolsandtheprogressmade,coordinatingdeliveryofextensivepresentationsbyFrontoffice,GlobalValuationsGroup,ModelRiskManagementandMarketRiskManagement.Deliveredanextensiveworkshoppackfortheday’s6houragenda
• BuiltsimilarplansfortheglobalRates,Credit,FICAPAC,EmergingMarketsDebtandFX,withFO&MOagreementandformalactionsformodelautocalibrations,modelvalidations,riskcompletenesscontrolsandindependentpriceverificationcontrols
• AdvancedquantitativemeasurementsonmodelcontrolswithKPIassessmentsforBoard/regreporting,automatedcontrols,forecastsanalyticaldevelopmentplans.Assistedexternalauditorinindependenttesting
• Deliveredkeyoperatingprocedureforriskcompleteness
• ProposedandagreedaseverityassessmentdowngradeproposalforanAuditfindingtosave€½m/qincharges,basedonmaterialprogressmadeonRiskCompletenessandIPVCompletenessacrossthefirm
MiuraDevelopmentconsultantto:XPSecurities(anInter-DealerBroker)RegulatoryConsultant ICAAP,ILAAP,MiFIDIIConsultant April2018-March2019
JoinedMiuraconsultancyfortrainingcoursesbeforebecomingaConsultanttoaninter-dealerbrokerclient,XP,onthreeprojectstogainFCAregulatoryapprovalforanewOrganisedTradingFacility(OTF)withoneotherconsultant:-Project1:AuthoredtheformalICAAP(internalcapitaladequacyassessmentprocess),includingthecalculationprocesswithoperationalriskelementsforlaterCOREPreporting.HelpeddefinetheBIPRU/IFPRUfirmtypesProject2:AuthoredallILAAPdocuments(internalliquidityadequacyassessmentprocess),withatreasurypolicy,recovery&crisisplanningandstresstestingassessmentsunderthePrudentialregimeunderBIPRUandIFPRUProject3:Preparedtheclient’sPrudentialMiFIDITFormsforsubmissiontoFCAforanOTF,includingauthoring14supportingdocuments.Leaddailyclientcommunications,BCP/DRplansandemergencycontrolsKeyachievements:
• Redefinedthecapitalrequirement;FCAapprovedtheclient’slicenceapplicationforthenewOTFTraining:CertifiedasaSeniorBrexitConsultant.CertifiedasaGDPRConsultant
UBSLeadPMFirm-wideCreditRiskReporting RiskReporting July-Nov2017
Project:GroupCROLeadPMforCross-DivisionalCreditRiskReportingrequirementsacross19riskmeasuresforBCBS239(datamanagement,aggregation,architecture)Role:
• ImplementGroupCreditRiskReportingandcross-divisionalreporting,includingflexiblereportingforRiskAnalytics&ReportingandRiskMethodologyteams
• DrovemajornewITstrategicinfrastructureplatformforgroupBCBS239reporting-thelargestriskprogram• Deliveredsigned-offbusinessrequirementsforcreditlossexpenseanalysis,excesses,past-duesandshortfalls
tosupportexternalreportingforWealthManagementandforPersonal&CorporateBanking,andsupportedtheimplementationofIFRS9accounting&monitoringstandardsfromtheCreditRiskperspective
Keyachievements:• Gainedbusinessengagementontheflexibleriskreportingschemafordrill-down&reportingtools• Managedandlead8businessanalysts;gainedITengagementonbuildschedulingcommitments
GregSolomon–BankingRegulatoryChangeManagement [email protected],+44(0)7771533758
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Banking Risk and Regulatory Change Management – Analysis, Planning, Leadership, Delivery
DeutscheBankProgrammeDirector,MarketRiskIT CounterpartyCreditRisk May-Oct2016
Project:WorkingintheCounterpartyCreditRiskprogrammeforthePcubedconsultancyRole:PMforValuationsModelMigration,BacktestingmigrationandforGroupWideStressTestingupgradestonewpricingmodelsystems.ManagedadevelopmentteaminIndia,BAinGermany,andleadstakeholderengagement
CreditSuisseProgram/ProjectManager,CROChange Risk&FinanceData May-Nov2015
Project:Business-sideprogrammanagerondatasourcingforUSLegalEntityMarketRiskCapitalCalculationsBaselIIIFedreporting(traderouting)forDoddFranksection165viaaUSIntermediateHoldingCompanyRole:EngagedwithallbusinessdivisionstosourcedataneededforthenewmodelsformarketriskcapitalcalculationsandfeedingresultstoFinanceforreportingtotheUSFedwithdataqualitymanagementcontrolsagreedbyworkshopswithRTBRiskOperations.100FTE.ManagedthebusinessChangeManagement&DataSourcingteam.LeadITteamsandtheITdevelopmentplanning.
BarclaysCapitalDeputyTechnologyProgrammeManager BaselIIIRegulatoryProgramme Mar-Jul2012
Project:WorkedinEnterpriseSystemsTechnologyaspartoftheBaselIIIProgrammeManagementOfficeteamRole:Co-leadtheITchangesbyworkingwithCreditRiskIT,MarketRiskITandFinanceIT.Delivered16riskexposureprojects;severalhundrednewserverswererequired.300FTEacross11Technologyareasin3continents
HSBCHoldingsProgrammeReleaseManager RegulatoryLiquidityReporting,GroupFinanceChange Jun-Dec2011
Project:GlobalLiquidityReportingProgramme,Capital&ALMsystemsforGroupFinanceChangeandRegulatory&IASBChangeteam–thelargestLiquidityprojectintheCitywithover300staffRole:Business-sideDeliveryReleaseManagerfortheGroupLiquidityReportingprogrammeforRetail&InvestmentBankingregulatoryreporting.LinemanagedDataValidation&SiteTransitionteams,Prototypedevelopment,BusinessReadiness,GroupFinanceTesting,third-partyvendor,andleadITbuild,datadelivery,andregionalteams
UBSProgrammeManager–ExecDirector FOSecuritieseCommerce Sep’10-Feb‘11
Project:Managedamajornewcross-productecommerceclient-facingwebprogramme(UBSNeo).StrongAgilemethodology.Teamincluded6MDs,80developers,22UXexperts.Drove18workstreamswithbusinessintegration.AlsoappointedSecretariatforCTOforumonnewtechnologystacks:security,messaging,search,historicalpricing
UBSProjectManager–ExecDirector CreditRiskITProgrammeManagementteam threecontracts,Jul2007-Nov2008
Managedsixriskprojects,twofeasibilitystudies,onechangeprogrammeandglobalbatchT+1timingproject,e.g.Project1:PMfor‘close-outperiod’modelsforSyntheticEquitySwaps.Managed14businessanalysts&120ITteam[abbreviatedCV]Permanent career
NomuraInternationalplcITManager Front,middleandbackofficeIT&development,BAU®ulatorychange 1995-99
Role1:BusinessLiaisonManager–DebtMarketsRole2:HeadofDevelopmentforDebtMarketsRole3:HeadofTreasuryIT(concurrentlywithrole2)
Role4:HeadofFrontOfficeAnalysisforDebtandEquityMarkets,andHeadofCross-ProjectCoordinationRole5:EMUProjectManager(IT)Role6:EMUBusinessConsultant
Keyachievementsthroughoutthisperiod:• PMformanyregulatorychanges;actedCompliance’sprocessITpointofcontactandadviser• Newproductprocedures:gaveallITapprovalsforbusinessrequeststotradenewproducts&models
GregSolomon–BankingRegulatoryChangeManagement [email protected],+44(0)7771533758
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Banking Risk and Regulatory Change Management – Analysis, Planning, Leadership, Delivery
UBSlimitedDirector,HeadofFixedIncome FO+MOSystemsandQuantitativeAnalytics 1985-95
Startedasthefrontofficequantprogrammer/analystatPhillips&DrewandPDFM,soonUBSandstayed10yearsDirectorofDebtTreasuryDivision–QuantitativeAnalyticalSystemsgroup
Programme:Ownedallfixedincomeandderivativesystems,analyticsanddataintheQuantitativeAnalyticalSystemsgroupacrossRegionEurope,includingdeliveringnewFrontofficetradingsystemswithreal-timerisk,pricingtools,P/L&portfoliohedginganalytics,deliveredMiddleofficemarketriskmanagementandBackofficedeliveredSTPtradefeeds.AlsoresponsibleforallapplicationsysteminfrastructureforDebt/Treasuryfrontoffice
Complete career overview
Frontofficeexperience:• DeutscheBank 2019 RegulatoryChangeLead/ProjectManager–ModelRiskControl• HSBC 2012-14 GlobalProgrammeManager–GlobalBankingSecureDocumentManagement• UBS 2010-11 SecuritiesClienteCommerceProgrammeManagement(UBSNeo)• HSBC 2010 SeniorProjectManager–GlobalCapitalMarketstradingandecommerce• NomuraIntl 1996-99 HeadofFrontOfficeAnalysis(Debt&EquityMarkets)• NomuraIntl 1995-96 HeadofDevelopment–DebtMarkets• UBS 1987-95 Director,EuropeHeadofFixedIncomeSystemsandAnalytics• Phillips&Drew 1985-86 GiltsDepartmentProgrammer,andFinancialFuturesandMoneyMarketsRiskManagementexperience:• Inter-DealerBroker 2018 OTFregulatoryapprovalforanInterdealerbrokerclient–ICAAP,ILAAP&MiFID2• UBS 2017 GroupRiskChange:LeadPM,BCBS239GroupCreditRiskReporting–alldivisions• DeutscheBank 2016 ProjectManager,MarketRiskIT–CounterpartyCreditRiskValuations• CreditSuisse 2015 Program/ProjectManager,CRORisk&FinanceData–IHCCapitalCalculations• BarclaysCapital 2012 DeputyBaselIIITechnologyProgrammeManager–Market&CreditRisk,Finance• UBS 2007-08 CreditRiskProjectManager–GlobalRiskIT• Abbey 2005-07 RiskBusinessAnalyst,BaselIIRiskteam–CreditRisk• HBOSTreasury 2003-04 BaselIICreditRiskTechnologyWorkstreamsProjectManagerFinanceexperience(plusNomuraandBarclaysCapitalabove):• MiuraDevelopment 2020-21 RegulatoryConsultant–MiFID2Remediationconsultancydevelopment• MiuraDevelopment 2018-19 RegConsultant–Inter-dealerbrokerclientXPSecurities–ICAAP,ILAAP&MiFID2• HSBC 2011 LiquidityReportingProgrammeReleaseManager,GroupFinanceChangeTreasuryexperience(plusUBSin2008andXPSecuritiesin2018):• Eggplc 2004 InterimTreasuryITManager–EggTreasury• WarnerBros 2001-02 ProjectManager–EuroConversionforTreasuryandfivebusinessdivisions• NomuraIntl 1995-97 HeadofTreasuryITBackofficeexperience(plusNomura&Eggabove):• GNI 1999 EquitysettlementoperationsPM,CorporateActions,Dividendprocessing,GLOther/ITexperience:• Cazenove 2000 InterimProgrammeManager–GlobalMessagingServices
Outside work interests, Non-Exec and Voluntary work
Hobbies:Croquet(referee),Fireworks(C&GBPAtrained),Harley-Davidsons,singing,bonfiresocietiesCharityTrusteeshipsandvoluntaryworkatHestiaHousing&Support(trustee2003-10includingFinanceSubcommitteefor9years,andcurrentlyontheDigital&ITSubcommittee),HastingsBonfireTrust(trustee2012todate),OperaSouthEast(trusteeandcompanysecretary2012todate),ChristChurchIsleofDogsPCC-DeanerySynodrepresentativetoHackneyArchdeaconry(2020todate),GovernoratSt.Luke’sCEPrimarySchool,IsleofDogs(2020todate),previouslyStStephen’sChurchPCCWestEaling(ChairofFinanceworkinggroup;ChairofEducationWG).FRSAFellowoftheRSA(RoyalSocietyfortheencouragementofArts,Manufacturers&Commerce,2004todate)MIIMMemberoftheInstituteofInterimManagement(accredited2020)GregSolomon–GregoryDavidPhilipSolomon,FRSA,MIIM.FullCVlink:solomontradeprocessing.com/Greg_Solomon.pdf