Peter Taylor
Summary
Finance professional with 20 years of experience in Finance division of global investment banks across London, Tokyo & Singapore.
Overview
20
20
years of professional experience
Work History
Director, APAC Rates
Merrill Lynch Global Services Pte. Ltd
09.2022 - Current
- Strategically redesigned operationally inefficient legacy process from 2016 which adjusts for basis between JSCC & LCH clearing house prices; 125 hours of manual work saved per year, condensing 65 tabs across 3 risk-based files 50MB in size into 7 tabs in 1 7MB full revaluation-based file
- Quickly turned around team satisfaction; 4yr average engagement index 87%, D&I 90% & manager effectiveness 96% versus 2019 predecessor scores of 48%, 52% & 47% respectively
- Champion of operational excellence: delivered 44 ideas in 6 years saving 1,480+ hours per year
- CSR: Singtel carnival - buddy/chaperone to kids with special needs.
Director, APAC Rates
Bank of America Securities Japan
04.2019 - 08.2022
- Regional manager of 9 employees across Japan & HK & supervision of offshore team of 8 in India supporting Linear/Exotics Rates, Inflation & Financing desks
- Navigated Rates team through IBOR cessation concurrently with adoption of cloud-based financial account system whilst in work-from-home posture during global pandemic
- Led location strategy by executing migration of P&L production from Australia & Hong Kong to India
- Successful management of corporate audits to achieve Satisfactory rating as well as inspections by Bank of Japan, PRA, Fed & SESC
- Heavy involvement in SIAI & remediation
- Delivery of new transaction reviews, significant transaction analysis, business performance reviews
- Presentations to desk heads & structurers, at regional townhalls & at global forums, on topics including changes to funding calculations.
Director, APAC Fixed Income Centralized Finance Function
Bank of America Securities Japan
08.2017 - 03.2019
- Leader of 2 employees responsible for Operational Risk & Control, implementation of strategic initiatives including transition to cloud-based ledger, & scarce resource management
- Achieved savings: $1.1m of funding by challenging security liquidity premium in bank entities, $0.9m from borrowings funded as swaps, $0.8m from discovery of trades incorrectly listed as affiliates according to section 23A of the Federal Regulation W requiring collateralization, $0.4m contingent funding on sleeper collateral, $0.4m/year from unutilized cash, $0.4m from sub-participated securitized lending costs, & $0.3m from standby letters of credit costs
- Process improvements: Led project to automate month-end posting in Oracle across 10 APAC legal entities, eliminating 2,600+ rows of journals & 100 hours of manual work per year
- Implemented balance sheet analysis routines across APAC Fixed Income businesses.
Vice President, Credit, Structured Credit, Special Situations, Securitizations
Bank of America Securities Japan
10.2009 - 07.2017
- Manager of 3 employees assessing valuation of Credit, Special Situations & Non-Linear Credit/Funding desks
- Performed credit analysis on distressed names
- Set-up of price verification processes for CDS, adapting for par/upfront/ISDA marking, 2014 ISDA definitions, LIBOR to OIS discounting, change to semi-annual roll, new vendor data (ICE) & system migrations
- Streamlining of CDS bid-offer liquidity valuation adjustments
- Initiation of independent pricing of repackaged notes secured by reverse repo collateral
- Creation of fair value measurement disclosure process to reduce four people's work into one
- CSR activities including painting a school in Fukushima after the 2011 earthquake.
Associate, Equities Finance
Deutsche Securities
11.2006 - 10.2009
- P&L attribution enhancements, beginning with securities lending & alpha/proprietary trading & ending with structured equity book (auto-callables)
- Daily analysis of actual P&L to budgeted stretch year-to-date target plus significant increase in VaR breaches during the financial crisis where individual stocks experienced extreme price & correlation moves versus indices; increased focus on client valuations for long-dated equity swaps
- Transfer pricing reporting for Equity Japan division; responsible for submitting spot foreign currency trade requests to FX trading desk to hedge payments in various currencies, as well as forwards for accruals for future payments
- Saving of JPY70bn of intercompany cash collateral incurring GBP interest rate expense in Japan by replacing with non-interest-bearing collateral (residual stock)
- New product review for Japan entity to trade HK index futures & options on the HK exchange
- Accruals for tax payable on receivable dividends
- UAT for new P&L attribution system for equity derivatives (correlation, FX vols, dividend, credit risk).
Intermediate Accountant, Financial Reporting & Control
Citigroup
08.2004 - 10.2006
- Month-end cash & pending/failed settlement reporting including global intercompany cash reconciliation (GL vs
- Settlements system); FSA returns; US GAAP vs
- UK GAAP balance sheet & P&L bridge adjustments using Access; corporate tax accruals; compensation accounting; inter-company currency loan reporting for offshore entity; cross-border reporting of FX transactions by country.
Education
Qualified Management Accountant -
ACMA, CGMA
01.2008
MSc (Distinction) Mathematical & Numerical Modelling of the Atmosphere & Oceans -
University of Reading, UK
09.2004
BSc (Honours 2:1) Mathematics -
University of Warwick, UK
06.2000
Skills
- Strategic Planning
- Verbal and written communication
- People Management
- Operations Management
Skills
15 years Fixed Income (Rates, Credit, Financing, Securitizations); 3 years Equities (Flow & Structured); 2 years entity control, True, $4.5m of one-time savings & $3.5m annualized cost reduction since 2012 from detail-orientated analysis, MSc & BSc in mathematical disciplines
Timeline
Director, APAC Rates
Merrill Lynch Global Services Pte. Ltd
09.2022 - Current
Director, APAC Rates
Bank of America Securities Japan
04.2019 - 08.2022
Director, APAC Fixed Income Centralized Finance Function
Bank of America Securities Japan
08.2017 - 03.2019
Vice President, Credit, Structured Credit, Special Situations, Securitizations
Bank of America Securities Japan
10.2009 - 07.2017
Associate, Equities Finance
Deutsche Securities
11.2006 - 10.2009
Intermediate Accountant, Financial Reporting & Control
Citigroup
08.2004 - 10.2006
Qualified Management Accountant -
ACMA, CGMA
MSc (Distinction) Mathematical & Numerical Modelling of the Atmosphere & Oceans -
University of Reading, UK
BSc (Honours 2:1) Mathematics -
University of Warwick, UK
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