SHAUKAT MIR
Bangalore
Summary
Analytical Product Controller and U.S. GARP Certified Financial Risk Manager with 13+ years of experience in enhancing productivity and efficiency. Proven ability to communicate effectively and collaborate across departments, driving financial accuracy and operational excellence. Expertise in problem-solving ensures timely completion of complex tasks and projects.
Overview
15
15
years of professional experience
Work History
Vice President
Wells Fargo
Bangalore
08.2022 - Current
- Played a pivotal role in seamlessly transitioning major credit desk PnLs, including Money Markets, High Grade, High Yield, Municipal Secondary Trading, and Derivatives, from the US to the India center.
- Daily comprehensive and clean P&L reporting, general ledger reconciliations, primarily from desk trading activities.
- Validated and assessed mark-to-market of portfolio, executed daily PnL substantiation and reporting, and conducted residual analysis to ensure accuracy of risk data feeds and reporting.
- Strong product knowledge of bonds, CDS, TRS, IRS, municipal securities, and tender option bonds.
- Daily MO vs. Finance reconciliation and new trade PnL review. Identifying P&L or booking issues, and communicating to the trading desk and MO.
- Submitting clean MTM PnL for VaR backtesting to ensure internal risk models operate effectively, and mitigate market risk by optimizing the capital requirements.
- PnL attribution report submission to the regulator, and ensure the overall compliance with the Volcker rule by the trading desk.
- Create robust controls in the P&L reporting process to mitigate the operational risk or manual errors in P&L reporting.
- Review, validate, cancel, and amend PnL to mitigate the risk arising from rogue trading for the credit trading desk.
- Prepare KPI, KRI reports, and perform RCSA for the business to ensure key control risks are mitigated within the business process.
Manager
Standard Chartered Bank
02.2020 - 08.2022
- Provided daily and monthly PnL reporting for the Bespoke Credit solution business, highlighting key PnL drivers across TRS, Loans, and Equity derivatives products.
- Conducted daily reviews and reconciliations of PnL breaks, FX reconciliations, and monthly balance sheets.
- Collaborated closely with key stakeholders on T0T1, ME charges, AVI, FX substantiation, and business overview documentation.
- Identified and implemented time-saving measures for the team, including developing a macro to automate pending portfolio request identification.
- Actively participated in the Aspire (Global PnL reporting tool) and SABRE (RMS) adoption projects, collaborating closely with respective stakeholders.
- Research and identify PnL issues arising from incorrect trade bookings, system errors to ensure no unauthorised trading activities by the front office.
- Mitigating model risk by reviewing and submitting clean and hypo PnL for VaR backtesting.
- Independently verifying end of the day marks to mitigate market risk.
- Review and escalate key early warning risk indicators like unusual assets increase, increase in funding costs and widening of credit spreads.
Authorised Officer
UBS
05.2017 - 12.2019
- Overseeing a seven-member team responsible for Financial Control in Non-Core Legacy (NCL) and Credit trading (secondary market).
- Spearheaded the successful migration of the Credit business to the strategic platform Murex, aligning with the Bank's strategic initiative.
- Manage daily PnL reporting, Management Analytical Review for PnL sign-off, and monthly balance sheet consolidation.
- Played a pivotal role in RPA/PEX/automation projects, leading initiatives to standardize and automate various processes, resulting in significant man-hour savings and enhanced control frameworks.
- Streamlined processes with extensive control gaps, effectively mitigating operational risks.
- Mitigating compliance risk by producing and analysing Volcker metrics for the trading desk.
Senior Associate
SOCIETE GENERALE
03.2016 - 05.2017
- Prepared daily and monthly PnL reports for Cash Equities and Equity Derivatives, providing detailed substantiation of key PnL drivers and commentaries for significant Pnl movements.
- Effectuated necessary PnL adjustments to address any reference, valuation, feed-related, late, or missing trade issues.
- Conducted daily reconciliations for material and aged breaks, reviewed daily Balance Sheet movements, assessed financial exposure, and provided commentaries where relevant.
- Investigated and resolved any month-end ledger versus PnL reconciliation variances.
Team Developer
Bank of America
10.2014 - 02.2016
- Generated daily and monthly PnL reports for CLO secondary trades, thoroughly substantiating key PnL drivers and providing insightful commentaries for significant PnL movements.
- Successfully transitioned Negative Basis and CLO Secondary trades PNLs from the UK, ensuring a seamless and effective handover.
- Managed CLO amortization, diligently updating pool factor changes based on Bloomberg data and promptly notifying traders of any PnL releases.
Analyst
Deutsche Bank
06.2011 - 10.2014
- Validated and assessed mark-to-market of portfolio, executed daily PnL substantiation and reporting, and conducted residual analysis to ensure accuracy of risk data feeds and reporting.
- Demonstrated a deep understanding of key risk drivers for financial instruments and their potential impact on portfolio risk and PnL.
- Leveraged comprehensive knowledge of front-to-back system flows to effectively resolve aged breaks in control totals, cash, and PVs.
- Developed a profound understanding of various businesses and their P&L drivers, including Credit Default Swap, Credit Linked Notes, Interest Rate Swap, Repos, and Total Return Swap.
Relationship Manager
ICICI SECURITIES
06.2010 - 02.2011
- Provided tailored financial solutions, including corporate and investment banking products, to top-tier clients.
- Managed portfolios of existing clients, driving business growth through client acquisitions and cross-selling.
- Consistently achieved high levels of client satisfaction by recommending suitable financial products aligned with their objectives.
Education
Financial Risk Manager -
US GARP
01.2024
Master of Applied Finance -
University of NMIMS
07.2022
Bachelor of Economics (Hons) -
University Of Mumbai
03.2009
Skills
- Microsoft Excel
- Power BI
- SQL (programming language)
- VBA
- Clean and hypothetical PnL
- Process automation
- Problem solving
- Stakeholder collaboration
Projects
- Converted two P&Ls from outdated P&L reporting system to modern reporting platform. Optimized generation of multiple P&L reports, enhancing efficiency and reducing time spent.
- Enhanced clean PnL accuracy report to uncover inaccuracies resulting from missing price data
- Validated FX PnL through comprehensive balance sheet substantiation for international business
- Develop MO vs. Finance trade-level reconciliation to highlight breaks.
Accomplishments
- Platinum Award, Bank of America, recognized by the senior management for understanding and migrating the process with ease, cross-training three resources, stabilizing the process, and independently handling desk queries, improving the PnL delivery timing
- Silver Award, Bank of America, recognized by the management for the quick understanding of the process and P&L-related activity during migration Automating the Process which was very manual before migration.
- Gem Award, Standard Chartered Bank, Awarded for learning all daily monthly activities through Skype during the lockdown successful PnL reporting without any error, building stock vs TRS portfolio mapping to review and eliminate PnL breaks (where current system does not have grouping).
- Spot Award, Wells Fargo, Awarded for successfully transitioning Credit PnL's, identifying issues and fixing it at source. This has reduced considerable time we spent on investigating.
- US Stakeholder Spot Award, Wells Fargo; awarded for work done in transforming two PnL from old legacy PnL to new PnL reporting system, creating enhanced controls and automation
- I&P Employee of the Year, Wells Fargo, awarded for various transformational work across multiple asset classes and clean PnL analysis resulting in accurate reporting
Languages
- Hindi
- English
Timeline
Vice President
Wells Fargo
08.2022 - Current
Manager
Standard Chartered Bank
02.2020 - 08.2022
Authorised Officer
UBS
05.2017 - 12.2019
Senior Associate
SOCIETE GENERALE
03.2016 - 05.2017
Team Developer
Bank of America
10.2014 - 02.2016
Analyst
Deutsche Bank
06.2011 - 10.2014
Relationship Manager
ICICI SECURITIES
06.2010 - 02.2011
Financial Risk Manager -
US GARP
Master of Applied Finance -
University of NMIMS
Bachelor of Economics (Hons) -
University Of Mumbai