Risk & Capital Advisory

My professional background combines front-office trading expertise with a system-level understanding of how derivatives interact with risk, capital, liquidity, and regulation.

At JPMorgan, my work centred on Fixed Income, beginning with rates products — interest rate swaps, swaptions, and caps/floors — before progressing into more complex and structured derivatives. I helped develop and trade products supporting the asset-backed securities (ABS) market, including flexi-swaps, perfect-asset swaps, balance-guaranteed and contingent swaps, and later synthetic structures such as Bistro, CDOs, and CDO².

Over time, my focus shifted to the measurement, management, and optimisation of second-order effects — the factors that drive true performance beyond headline risk or price. These included counterparty risk, liquidity, capital, funding, differential discounting, margin, and the evolving Basel regulatory landscape. I was JPMorgan’s, and indeed the industry’s, first CVA trader, responsible for bringing these dimensions into day-to-day trading and pricing decisions.

Effective optimisation of these drivers can generate trading efficiencies and cost reductions many times larger than conventional bid–offer spreads. More importantly, they create opportunities to identify and exploit relative-value differences across institutions that are at different stages of maturity in managing and pricing these effects.

Value I Bring

My consulting work draws on two complementary strengths:

  • Technical and Systems Expertise
    • Extensive experience designing and implementing large-scale frameworks to measure, manage, and optimise XVA, funding, and capital effects — combining front-office insight with systems and quantitative design.
  • Strategic and Commercial Perspective
    • The ability to identify and structure opportunities that:
    • Reduce the cost of regulatory, funding, and capital constraints for banks.
    • Help buy-side firms understand and leverage dealer pricing inefficiencies — structuring trades to mitigate costs or enhance value.

Potential Roles and Engagements

Within a hedge fund, asset manager, or clearing member, I can:

  • Establish a centralised optimisation framework to allocate and distribute trading intelligently — maximising market capacity while minimising XVA and RWA footprints.
  • Serve as Chief Risk Officer, Head of Market Risk, or Strategic Adviser on derivative risk and capital optimisation.

Within a bank, I could:

  • Design or refine CVA, FVA, and KVA frameworks, along with funding-risk and OIS discounting infrastructure.

Career Highlights

  • JPMorgan: Led a transformation of the Clearing and F&O business by introducing front-office risk management and pricing discipline to what had historically been a pure “agency” model — doubling revenue while reducing capital usage, GSIB metrics, and residual interest exposure.
  • Contributed to JPMorgan winning Risk Magazine’s Best OTC Client Clearer award in 2019 and 2021.
  • Designed and implemented FVA and KVA frameworks across the global derivatives franchise.
  • Introduced single and multi-currency OIS discounting firm-wide, creating a centralised funding-risk utility.

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