Eric Palley Email & Phone Number

Greater New York City Area

Head of Portfolio Construction Group & Investment Risk Management Senior leader, working across the organization to set investment procedures, ensure adherence to process, perform performance evaluation, and contribute to formulating investment strategy. Report and advise the CIO on all matters involving investment strategy, portfolio design and construction, and investment risk.Portfolio Construction Group/Investment Strategy:o Establish policies and procedures to ensure consistent and scalable investment strategyo Make recommendations on asset allocation, portfolio rebalancing and other investment functionso Design and direct implementation of unique models for portfolio optimization and risk budgeting, addressing bespoke needs of clients subject to regulatory oversighto Oversee numerous portfolio restructuring analyses and related due-diligence for potential multibillion-dollar client transactionsInvestment Risk Management:o Define corporate vision and strategy to manage investment risk. Work with CIO to define and establish risk limits and risk mitigation policies.o Establish and implement methodologies and processes to proactively identify, measure, monitor, control and report risk levels; provide actionable recommendations to the CIOo Advise the CIO on risk and limits to holdings by individual security and sectoro Key participant in selection, set up and maintenance of external (BlackRock, MSCI, etc.) and custom in-house risk systems addressing derivative use, liquidity, performance attribution and stress test analysis.o Analyze portfolios to identify and review implications of investment decisions on total portfolio risko Review portfolio scenario analyses, stress tests and performance attributiono Assist Real Estate Investment, Structured Credit Investment and Alternatives Investment CommitteesGovernance:Member of Liquidity, Derivative Risk, Pricing/Valuation, ESG, and Data Governance Committees

• Provide investment strategy and general investment consulting to large defined benefit pension plan sponsors, incorporating risk management and LDI concepts, and interactions with operations, financing and business objectives.• Oversee and deliver results of Asset Liability Modeling studies at the “C-suite” and Board of Directors levels.• Develop and present intellectual capital.• Expand firm’s Asset Liability Modeling capabilities to incorporate derivative hedge structures available through banks, asset managers and insurance companies.• Provide support to clients in negotiations with the PBGC

• Marketing, structuring and product development of derivative-based hedging for defined benefit pension plans in the US and Canada.• Met with plan sponsors, actuaries, investment consultants and the media to develop market for derivative-based hedging strategies in general and for BNP Paribas product offerings in particular• Developed internal marketing lead-stream through the Bank’s relationship management structure• Developed new products designed to meet needs arising from evolving technical requirements of ERISA and accounting rules (FAS/CICA/IAS), and changing capital market conditions – collaborated with fixed income and equity structuring professionals to develop final product offerings• Oversaw and presented Asset Liability Modeling studies

• Benefit plan financial optimization to support accounting, corporate finance and risk management goals• Asset Liability Modeling studies and general asset consulting services for pension plans• Wrote VBA/Excel-based Asset Liability Modeling stochastic forecasting platform• PBGC (“Early Warning Program” and other) negotiation support, bankruptcy negotiation support• International benefits/accounting issues

Provided risk management and employee benefits consulting services to a variety of corporations and public entities.• Benefits due diligence and negotiation support for merger and acquisition/spin-off/IPO transactions• PBGC (“Early Warning Program” and other) negotiation support, bankruptcy negotiation support

• Provided actuarial support to agency negotiations and litigation with large companies in financial distress, in the process of financial restructuring or in bankruptcy.• Actively participated in negotiations with top-level corporate and government officials, explaining actuarial concepts and calculations, proposing settlement structures and drafting definitive documentation for settlements.• Supervised calculations of pension plan funding level and required contributions, conducted analysis of benefit provisions and other relevant analysis to be used in financial analysis and negotiations. Analyzed actuarial assumptions used for funding and accounting purposes by plan actuary. • Assisted financial analysts in incorporating actuarial results into financial models.

M.Sc., Industrial Relations

B.A., Applied Mathematics