Rishin Shah is an Executive Director at J.P. Morgan in their Corporate & Investment Bank CAO Compliance group. Last role as a global product head in compliance, responsibilities were to lead a 10 man team to help the firm meet their consent order obligations for KYC, Risk Assessment & Client Population control. Has over 18 years of professional experience, including 17 years in the financial services industry. Has a broad range of project & delivery management experience including launch of new products like Exchange Traded Funds, interest rates derivatives pricing solutions, front/middle/back office processing of OTC derivatives and asset and pricing master data management.
08/2011 to 09/2016
Executive DirectorJ.P. Morgan
CIB CAO Compliance KYC Operations - Global Product Head
As of part of the product development team responsibilities included launch of a suite of products to help KYC operations increase their efficiency at processing KYC remediation's and renewal's.
Liaise and aggregate data from different LOBs for analytics required to develop a strategy on how to meet consent order targets.
Developed a "one stop shop" service for most data required to work on a KYC by 1000+ operations user.
Data ranged from revenue, to client reference data, to sales coverage etc.
Result was significant reduction in the initial time (~80% savings) to get the KYC to a pre-approval stage.
Partner with operations reengineering team to successfully launch utilities on and offshore to create core factories.
Work closely with Compliance teams across the globe to meet data privacy and restriction requirements for each specific country.
Developed a core analytical tool to help the Derisking and Off-boarding team to determine tranches of client base that needed to be exited and off-boarded based on past revenue & risk profile.
Formed a population control process and chaired a population control council which would meet on a monthly basis with senior leaders to determine the constant movement of clients that were being added or dropped.
It was necessary to make sure that clients were not added right after derisking them and also for KPI purposes that we are on target to meet our commitments to the regulators.
Global Corporate Bank - Banker Utilities
Global Corporate Bank was formed to leverage existing "first call" relationships with firm's top clients to cross-sell and further advance relationships in new countries.
Key challenge facing the 300 Corporate Bankers was to be able to get a single client view for all current relationships in all countries across all CIB products.
Delivered a unique client view that helps the corporate bankers see all revenues booked, future pipelines and coverage contacts for their covered clients (based on industry & geography).
This had to done with strict entitlements based on any country restrictions of where the banker is or the location of the client and its subsidiaries.
To help bankers with sales, an opportunity spotting tool was also launched.
Based on several algorithmic questions (from 6 to 10) designed specifically for each of the 30+ products that bank engaged in, an opportunity heat map would be produced for each client.
Data from financial statements of the clients over the last 3 years were sourced from Reuters.
09/2010 to 08/2011
Senior Vice PresidentCitigroup Global Transaction Services
11/2009 to 09/2010
Data ManagementNorthern Trust
IBM was engaged to analyze the Asset and Pricing Master Data Management platform and architecture and develop a strategic platform to replace the current system.
Evaluated industry leading platforms including Golden Source, Asset Control and Broadridge along with in-house build options.
Devised a multi-year roadmap with 90+ sub-projects along with resource and costing estimates to help senior management allocate capital on a yearly basis and justify the cost to the business sponsor by defining clear business capabilities achieved each year
Northern Trust, Derivatives Strategy Program.
12/2007 to 04/2008
State Street Global Advisors
Delivered requirements, based on portfolio management, trading, risk and operations input, for Front Area, to support Total Return Swaps (TRS).
Provided business analysis and functional specifications for the internal Front Arena development team.
Created and Reviewed presentations for derivative novations and terminations.
Provided the analysis for calculating true yield on fixed income products to properly handle holidays.
Provided an overall trading work flow specification to ensure separation of duty, confirmation, and 4-eyes checking for the complete trade lifecycle.
Provided a detailed business requirements document reflecting changes needed to the system to support TRS in Front Arena.
06/2007 to 02/2009
Northern Trust has historically been a custodian and has ventured into new business of Investment Operations Outsourcing (IOO) to support middle and back office support for IMs.
Key challenge to acquire those revenue streams is the use of complicated derivatives instruments by hedge funds.
The strategic IT solution could range from getting a third party vendor product in house (Murex, Calypso, and Summit) to building an in-house solution to outsourcing OTC derivatives processing to a strategic partner (GlobeOp, Lehman Brothers).
After further due diligence, Northern Trust made a decision to partner with Lehman Brothers for processing NT's clients OTC derivative trades.
Due to the Lehman Brothers bankruptcy filing, the IBM team helped the client with the option of getting a vendor system Summit (Misys Inc.) installed in-house.
Key activities of the assignment:.
Assessed NT's current IT infrastructure across the bank from trade capture systems to reporting systems.
Designed a strategic IT solution that would help NT develop its IOO business.
Defined data requirements and format needed to integrate their systems to Lehman's.
Evaluated different options for reconciliation and valuation services from different vendors like MarkIt, Super Derivatives, Tri-Optima.
11/2006 to 09/2010
SFS Transformation Team - Project DirectorTrade Solutions/Capital Markets Transformation
The Transformation Program is charged with driving operational and financial improvements across SFS business operations.
The program has been established to enable SFS to meet its aggressive business goals, align end-state strategy to ongoing improvement initiatives and create efficient, effective global business standards and operational efficiencies.
Management of multiple initiatives from inception (product approval), definition (requirements phase), execution (technology development & operational readiness) to delivery - Exchanged Traded Funds, OpenCollateral, SFS Data Restructuring, SFS Ops & CD Scorecard.
Project team Lead - Manage project to deliver on-time, within budget.
Role includes partnering with product and other business groups to write/manage requirements engage with technology and vendors on building the right applications and delivering a complete product to enable client onboarding.
Includes all aspects of project and program management including risk mitigation and reporting.
Key driver of the ETF initiative -Delivered Business Requirements Documents, Functional Requirement Documents, Business Scenarios Matrix, Test Strategy across Fund Accounting, Transfer Agency, Custody, Index Receipt Agent & Asset Servicing.
Strategic solution currently under development alongside a tactical solution to support an initial client in UAT phase.
Own end to end delivery of OpenCollateral initiative including delivery from the technology platform of Protocoll (Omgeo).