Chandraswamy Heerematam

Roles:

• Assist Trading in booking the vanilla & structured products in the risk systems per the terms agreed by the Front Office with the counterparties.
• Booking of structured trades on the correct booking models and there by ensure pay-off is in-line with the term sheets and flag the PnL to the Trading for their signoff.
• Perform Lifecycle management of trades - Exercise of options/swaptions, Novations, Unwinds & Partial unwinds, compressions etc
• Booking amendments to ensure bookings reflect the recaps/term sheets agreed with the counterparty and flag the impact to the desk.

Responsibilities:

• Managing a team of 16 members to support different global trading desks across regions - APAC, EMEA & AMERICAS
• Escalation & stakeholder management
• Hiring, training & Development of new resources, providing feedback & performance evaluation of the team
• Conduct daily huddles to discuss outstanding issues
• Deep dive into risk incidents by providing detailed summary write up & tactical / strategic solutions
• Ensure to have bi-weekly 'Lesson learnt' sessions from the risk incidents and monthly learning sessions

Assistant Manager - Non-linear Rates Middle Office (Jan 2020 - May 2022)

• Support Front Office in booking the trades and eliminate risk by ensuring the trades are accurately booked in accord with the trade
• Trade booking, Life Cycle management & amendment of vanilla & structured trades
• Report daily, weekly and monthly KPI & KRI to the management
• Review process documents like SOP, SLA and other internal control checks and ensure the same is updated on a timely manner
• Monitoring and ensuring that all the activities are performed by the team in timely manner
• Providing training to new joiners and monitoring the training progress
• Handling production related escalations
• Participate in weekly production related calls and providing expertise in various topics under discussions
• Resolving the queries raised by multiple stakeholders like Traders, Sales, Quants, STR, Documentation team, Settlement team, Finance
• Worked on products such as Range accrual, Steepener, Dual range accrual, Inverse floaters, straddles, swaptions, swaps, FX Spot, Fx
• Dependable for the structured Trade support queries in both onshore & offshore
• Making sure that control checks are duly followed by the team

Team Leader - Structured Trade Review (May 2015 - Jan 2020)

• Performing three-way review (Term sheet vs. Booking vs. Confirmation) for structured trades.
• Ensuring trades are booked in appropriate valuation models and ascertain trade payoffs/ valuation parameters are correctly captured in the booking.
• Identifying potential PnL/ settlement breaks due to miss-booking and report MTM impact of amendments
• Confirming and reporting conservative and approximate valuation bookings
• Train the new associates, assist the associates in BAU queries and timely escalations of unresolved queries sent by them
• Preparing MIS as per process requirement, updating process documents like SOPs, pointer document, deal libraries and disseminating process related updates to team
• Recording and uploading training videos in STR share-point, training and mentoring new joiners, conducting bi-monthly assessments
• Frequent communication with multiple stakeholders - Traders, Trade Support, Sales, Quants, Legal and Documentation team to resolve booking/documentation errors
• Responsible for monitoring a group of 4 associates and update any issues/escalations/changes required in the process to the manager

Team Developer - Rates Settlements (Apr 2012 - May 2015)

• Involved in confirmation of cash flows and Standard Instructions (SSI's) with counterparties and resolution of incoming settlement queries.
• Making payments to the counter party on value date and Transfer funds between internal accounts before the currency cut off
• Liaising with Client/FO/MO for resolving the discrepancy and ensure timely cash settlement.
• Have exposure to manual payments & static data updates
• Training new associates in the team
• Monitoring settlement queue and report to manager on unsettled cash flows
• Investigating the discrepancy occured in trade on various parameters like Rates, Notional, Day Count fraction, Business day convention etc.

Equity & Rates Settlements:

• Handled responsibilities as Back Office Settlement and Reconciliation for UBS’s most sensitive clients with 1-hour TAT
• Making payments to the counter party on value date and Transfer funds between internal accounts before the currency cut off
• Liaising with Traders, Middle Office and Clients to resolve any discrepancies and aid where necessary
• Reviewing of trade tickets, legal executed documents to identify flaws in the transaction
• ·Review and update the settlement instructions of the clients and make the payments for good value date. Speak with clients for quick resolution
• ·Investigation of breaks post the settlement date and resolve the discrepancies