Benjamin Millard Email & Phone Number

New York, New York, United States

New York, United States

Greater New York City Area

New York, Ny

New York, Ny

Facilitate credit flow trading by directly engaging institutional accounts and providing actionable ideas to corporate bond trading/sales Explain credit structures/enhancements, collateral, scenario analysis, and jurisdictional risk.

New York, Ny

Consulting, Product and Business Development for Ascend (part of FlightGlobal). Ascend's clients include most of the top aircraft leasing companies and banks worldwide as well as manufacturers, insurance companies, regulators and airlines.

Assign credit ratings for passenger airlines, aerospace/defense manufacturers, and freight railroads. Analyze business profiles, capitalization and liquidity of debt issuers. Gauge earnings profile, market and competitive positioning. • Co-authored the airline and railroad equipment trust certificate (ETC) and airline enhanced equipment trust certificate (EETC) rating methodology, published in December 2010: - Determined ratings uplift ranges by loan-to-value (LTV) ratio and by operator’s credit rating.- Researched and published historical EETC recoveries by tranche, post-bankruptcy filing.- Decided ratings weight of certain structural features (e.g. cross-default, cross-collateralization).- Determined treatment of transactions outside of the U.S. subject to the Cape Town Convention. • Co-developed enhancements to the EETC Analytic Model:- Built functionality for more frequent LTV tests. - Tracked note-level LTV ratios, to better gauge risk by deal. - Facilitated depreciation calculations for mid-life airplanes.- Optimized input fields, for easier use by team. • Co-designed the Aircraft Value Database, for ETC/EETC transactions:- Enabled automatic flow-through of differences by model (e.g. discounts for certain engine types).- Programmed pull-forward of historic values against the depreciation curve.- Facilitated trend of appraisers’ values against Moody’s rating committee values.- Created clear presentation tool, to aid rating committee discussions. • Presented ratings recommendations in committees for airlines, freight rail, and aerospace issuers. • Forecasted issuers’ operating performance, credit metrics and covenant compliance. • Evaluated capacity within ratings category for proposed mergers, acquisitions or shareholder initiatives. • Ranked priority of debts and non-debt liabilities in the capital structure, for loss-given-default analysis.

Directed $225mm in credit risk exposure with trading clients. Analyzed financial statements. Lead discussions with management to understand capitalization, organization structure and cash flows. • Reduced credit risk by 15% - 20% through enhanced due diligence procedures.• Designed daily credit exposure report for senior management. • Created tool to highlight open credit lines to sales team.

Managed $300mm in sales to 75 inter-connected clients. • Achieved all sales quotas, and grew sales mix to high-profit direct routes. • Improved network guidelines, resulting in 10% lower revenue leakage.

Bachelor'S Degree, Economics, 3.0

Activities and Societies: Boston College Symphony Orchestra

M.A., Economics

B.A., Economics