Chief Operating Officer
JS GLOBAL CAPITAL LIMITED
Total years of experience :16 years, 11 Months
Oversaw and managed the full spectrum of financial services offered, including equity market trading, commodity & forex futures and money market trading, ensuring compliance with relevant regulations and optimizing operational efficiency.
Provided strategic direction and leadership, aligned business goals with market trends, regulatory changes, and technological advancements to ensure sustained growth and competitiveness.
Designed and successfully launched Pakistan’s first Banking Sector ETF and first ever ETF by a Brokerage House.
Led the provision of corporate finance solutions and advisory services to clients, effectively guiding businesses in capital structuring, mergers and acquisitions, and other financial decisions, fostering client trust and business expansion.
Support the research team in generating timely and accurate market insights, economic analyses, and investment recommendations and enhancing the firms reputation as a knowledge leader.
Ensured strict adherence to regulatory standards and industry best practices, minimizing compliance risks and safeguarding the firms reputation, assets, and client interests.
Streamlined internal processes and workflows to enhance operational efficiency, reducing costs, improving execution speed, and optimizing resource allocation across various service verticals.
Managed and motivated a diverse team of professionals, fostering a collaborative and high-performance culture, facilitating skill development, and empowering employees to excel in their roles.
Cultivated and maintained strong relationships with high-value clients, understanding their unique needs and objectives, and tailoring services to deliver exceptional value and drive client retention.
Supervised the adoption of cutting-edge technologies, trading platforms, and data analytics tools, enhancing the firms capabilities in executing trades, analyzing market trends, and delivering value-added services.
Contributed to the companys financial success by driving revenue growth, expanding service offerings, and effectively managing costs to achieve profitability targets. Collaborate with the CFO to manage budgeting, expense control, and cost optimization efforts within the operational departments.
Spearheaded cross functional initiative to achieve a robust compliance & risk program across multi-faceted business lines.
Ensure the firms overall compliance with the regulatory framework, standards and relevant regulations, directives as well as internal policies and procedures.
Constantly review the respective regulations and directives issued by the Regulator and other respective bodies/SRO’s comprising the Regulatory Framework for the operation of the Company.
Designated Compliance Officer and Money Laundering Reporting Officer (MLRO) of the Company.
Ensure the firms compliance with UN and other Sanctions requirements.
Liaise with and provide advisory support to the firms employees on compliance issues.
Prepare reports for the Regulatory Authorities, the Board of Directors and the Management as appropriate.
Act as a main point of contact and manage the relationships with the regulator.
Act as Companys key person in implementing Companys AML/CFT strategies in relation to local/international standard.
Design the firms AML/CFT policies, procedures, systems and controls, including the operation of the risk-based approach and oversee their implementation.
Provide guidance and assistance to the Process Owners for development/designing of regulatory controls/processes.
Keeping the Compliance Function resourced with adequate and skilled staff and assess their strength.
Remain aware of the incidents of frauds, subsequent investigation reports and the corrective action taken by concerned department to remove Regulatory control deficiencies.
Monitoring and Reporting of STR to related agencies.
Review and presenting the Annual AML Self Risk Assessment to the Board.
Conduct Business Risk Assessment for Branches.
Review the Ongoing Customer Due Diligence (CDD) and Enhanced Due Diligence of clients.
Conduct regular and relevant training and provide advice, guidance to staff on Compliance and AML.
Prepare the Quarterly and Yearly Compliance Report, implement instructions of the Board of Directors for further actions and activities to comply with the Legal and Regulatory Framework.
Coordination with the vendor on development and implementation of trading /back office system. Prepared and implemented Compliance Plan of the company.
Planning, designing and implementing an overall risk management process for the company.
Establishing and quantifying the risk appetite of the company.
Devise scenario analyses reflecting possible severe market events.
Assessment of Clients and determination of their exposure limits
Maintenance and collection of Exposure Margins of clients and liquidating clients open position to align margins as per company’s policy.
Assessment and monitoring of Position Limits of proprietary and clients’ exposure.
Facilitate regular reporting of risks through key risk indicators and events
Analyzing and evaluating data received from business functions
Evaluating risk assessments periodically to reflect changing risk profiles and identifying common themes across the Company where RM should help manage the risk.
Supporting the development of scenarios and appropriate risk response strategies.
Secretary to the Risk Committee of the Board, wherein I am responsible for arranging committee meetings, preparation and distribution of agenda/working papers, writing minutes and follow up.
Head of risk management and settlement wing:
Designing and testing of risk models including VaR.
Monitoring collection of exposure margins on daily basis.
Monitoring Capital Adequacy requirements and ensuring that exposure limits are according to the norms specified by the Exchange.
Review of Net Capital Balance certificates of Brokerage Houses.
Review of Operational Controls and Regulations compliance.
Management of pre-settlement deliveries.
Review of price changes, open interest, position limits and large trading positions.
Evaluating and defining additional margins on different markets.
Valuation of Collateral and periodic review of forms of collateral.
Preparation and updation of risk management operational manual.
Regulatory compliance and coordination with external auditors on risk management practices.
Monitoring collection of Trade commission, taxes and coordination with accounts department on concerned matters.
Review of bank reconciliation and disbursement of profit received on deposit of margins.
Developing solution to address brokers default and settlement issues. Management of default, pledge call process and selling-out of collateral.
Defining and notifying clearing & settlement schedules.
Assist Deputy Managing Director in operational activities:
Induction and Renewal of Brokers Registration with the Exchange and SEC.
Registration of Brokers Agents and Branches with the Exchange
Review and approval for Senior Management Officers of Brokerage Houses
Handling investor’s complaints related to listed companies.
Collection of Exchange fee/dues from listed companies.
Compliance of Corporate Announcement.
Planning & designing of new products/markets.
Preparation of business processes and coordination with IT for development of necessary application and its UAT.
Periodic reviews of securities eligibility for market indices, future markets (DFC/CSF) and margin/collateral.
Propose changes to policies and rules relating to capital market.
Preparation of concept papers and presenting the same to relevant authorities.
Business development, presenting proposals to potential companies for listing.
Overall supervision of Clearing House of the Exchange.
Assist Chief Regulatory Officer in relation to functions of planning, designing of Regulatory framework, reviewing and implementation of all policy and regulatory guidelines for Risk Management and Clearing functions.
Calculation/Monitoring of Value at Risk (VaR) using Historical Simulation (HS) for Percentile, Standard Normal VaR and Risk Metrics Approach (Exponentially weighted Moving Average) methods.
Stress Test of VaR and Margin Deposits using Monte Carlo Simulation by simulating stock returns using Geometric Brownian model, recalculation of VaR and comparing the same with required and deposited margins.
Review of operational controls and Regulations Compliance.
Monitoring Capital Adequacy requirements and ensuring that exposure limits are according to the norms specified by the Exchange.
Monitoring short/blank sell limits and market manipulative activities.
Market Surveillance and Preparation of Investigation Reports.
Review electronic exception reports; analyze alerts and market data; draft inquiry letters; speak with employees of member firms; and document research and findings.
Monitor trading activities and identify irregularities and suspected breaches of trading rules and regulations;
Drafts and prepares preliminary referrals regarding suspected market abuse and disciplinary matters.
Investigate issues arising from various business and operations units.
Designing & Implementation of Business & Risk Models and MIS reports.
Review of price changes, open interest, position limits and large trading positions.
Monitoring of early pay in of Securities.
Monitor collateral submitted for base capital and to ensure that the same is within the norms set by Exchange.
Valuation of collateral and periodic review of forms of collateral ( Margin Eligible Securities and Open end mutual funds).
Product research & development, defining business process for the development of applications and coordination with I.T department for UAT of new processes.
Coordination with external Auditors on Regulatory & Risk Management practices.
Preparation of Department’s Capital Development Plans and Annual Budget.
Monitoring Exposure Margins and Position Limits,
Calculation/Monitoring of Value at Risk (VaR),
Compliance & Monitoring Capital Adequacy Requirements,
Designing Business & Risk Models,
Valuation of collateral and periodic review of forms of collateral ( Margin Eligible Securities and Open end mutual funds),
Monitoring the Clearing & Settlement of all trades executed through the Exchange,
Review Concentration Margins and Liquidity Margins,
Product research & development, defining business process for the development of applications and coordination with I.T department for UAT of new processes,
Preparation of Department’s Capital Development Plans and Annual Budget,
Drafting Settlement Schedule for all Markets,
Coordination with NCCPL on F.I. Margining System,
Preparation of Departments’ Operational Manual
ACHIEVEMENTS:
Designed & Implemented Value at Risk (VaR) model for calculation of Exposure Margins,
Worked on designing & Implementation of Concentration & Liquidity Margins,
Designed and implemented the automation for Margin release and Client Level Margining Regime,
Prepared Department’s Operational Manual,
Worked with the team responsible to design & implement the Risk Management system of Karachi Stock Exchange,
Worked with Deloitte Touché Tohmatsu as Coordinator for the audit of Risk Management and Clearing House processes of the Exchange
Risk Exposure Management,
Credit Analysis,
Compliance and Product Testing,
I.T coordination and testing for new products,
Successfully Dealt with issues related to corporate actions,
Research and Product Development,
Documentation of NCB Certificates,
Writing Draft Notices and letters
I have done BBA-honors(Bachelor of Business Administration with 3.3 GPA
CGPA = 3.2 Major Courses : Financial Management Analysis Of Financial Statements International Finance and Economics Corporate Finance Project evolution Human resource developement Marketing Management