Ryan Dickey Email & Phone Number

MBS Pass-Through Trading, Securitized Products

- Co-head both 30yr Specified and GNMA flow book- Manage Specified Pool position of $10bb+ across all agencies and coupons with focus on Call-protection, Seasoning, and Non-Deliverables- Make markets on all GN and G2 swaps and rolls during New York and Overseas trading sessions- Take positions based on a combination of market technicals and personal views..

• Lead Pass-Through trading initiative, with focus on specified pool trading and relative value positioning
• Established Oppenheimer as an active participant in the MBS market by forming relationships with buy-side and sell-side accounts

• Flow Trading
• Responsible for trading secondary 30yr flow book, which was profitable and positive since inception (approx 1.5% return on balance sheet in 2009)
• Made markets in 30yr conventional TBA (FNMA and FGLMC) in addition to GNMA and GNMA II
• Actively traded in the UST and US Rates market, primarily for hedging purposes
• Maintained exclusive customer base of about 20 accounts, including bank portfolios, money managers, originators, hedge funds, and regional dealersSpecified Trading
• One of three traders responsible for trading and managing the risk of a +$20bb specified portfolio

• Supported Emerging Markets trading desk (over $1b in P&L) by calculating, validating, and reporting risk arising from market exposures across all capital markets in Latin America
• Validated and approved new product valuation models. Examples include Range Accrual Notes, Cross-FX Forwards, Cancelable Cross-Currency Swaps, and Inflation Swaps
• Reconciled changes in first order (DV01, CS01, FX01) and second order (Vega and Gamma) sensitivities with trading activities carried out by desk
• Calculated and reported sensitivities, Value at Risk, Loan Equivalent Exposure, and Economic Regulatory Capital for approximately 10 trading books in the Emerging Markets area

• Supported front office by risking live trades in the swap, currency, structured credit, commodity, mortgage, equity, and fixed income markets
• Assisted structuring desks by calculating the potential and expected exposure of exotic and vanilla products in all financial markets
• Presented volatility overviews of emerging market CDS, EM bonds (Sovereign and Corporate), US Treasury, MBS, and FX markets to senior management on a monthly basis

• Worked with the Systems Analysis Branch at the NASA Langley Research Center
• Developed a hybrid methodology which incorporated the Analytical Hierarchy Process (AHP) and Bayesian Belief Networks (BBNs)
• Evaluated the impact of candidate technologies and determined risk intensity across scenarios