Seth Hoffman Email & Phone Number

Bangkok, Bangkok City, Thailand

Leading the Treasury organization for Agoda since end of April 2024.

Bangkok, Bangkok City, Thailand

Leading the FX and Markets team for Agoda, a Booking Holdings (Nasdaq:BKNG) company. My team's primary objective is cash management, balance sheet hedging and advising the c-suite and senior leadership teams across departments on matters that concern Foreign Exchange.Agoda maintains 200+ bank accounts across 50+ entities, and hedges exposure in 30+ currencies. We manage a forward outstanding book of USD1.5bn+, trading over 6500+ deals annually, and trading a book with gross turnover of USD30bn+.

London, United Kingdom

 Repo Trader on the Flow Credit Team charged with pricing and trading the short end match book flow, daily financing for long and short firm positions, and pricing client enquires in conjunction with Sales.Key Achievements• Built an Asian credit bond financing business with EMEA & US clients, boosting daily run-rate on stable balance sheet, by developing a business across hedge funds, corporates, asset managers, banks and interdealer brokers. • Slashed financing costs by 10 - 20 bps by executing different strategies at different times such as: Trading China high yield in collateral upgrade swaps versus AUD, EUR, and USD government bonds Trading India investment grade in 35 day evergreen trades versus USD, EUR, SGD, CNH, HKD cash• Minimized Asia cash desk short sell costs by at least 25 bps per trade, through expansion of access to security lenders: Borrowing Indonesian and Philippine securities in collateral downgrade swaps versus EGBs, AGBs, and JGBs Constantly reallocated the proportion and type of securities used in the downgrade trades and petitioned counterparts to widen collateral schedules to maintain the cheapest to deliver allocation• Exceeded traded PnL targets by running profitable trading strategies: Borrowing Korean bonds in 12/18 month trades and match financing them in 95D Evergreen transactions, running a positive maturity mismatch. Lending UST to borrow USD denominated China High Yield and re-lending that for HKD cash, and swapping the HKD to USD in FX.• Grew Tier 1 Capital Limits and Balance Sheet via strategizing with senior management to justify and market for these asks.• Decreased Treasury Reserves and charges via advocating liquidity management policies that help the business by leveraging relationships and outlook gained on the Treasury team.

Singapore

 Asset and Liability Management on the Planning and Analysis Team tasked with implementing liquidity management policy across business lines, to ensure compliance with regulatory guidelines, and responsible for defining the transfer pricing of cost of funding to the business.Key Achievements• Onboarded our Singapore entity onto the global liquidity platform (AxiomSL) to enable enhanced reporting and analytics, to harmonize data validation, and to meet external regulatory requirements.• Expanded Singapore build-out to the India and Korea entities, which led to a reserve reduction for those regions.• Introduced the differences between the LCR guidelines of the MAS (Singapore) and the JFSA (Japan) particularly in regards to the forward starting inflow assumptions. Applied these differences to reduce excess regional liquidity held.• Delivered an intraday model to calculate to a 95% confidence the reserve to hold to collateralize our Nostro providers in a market or name specific stress event; built a framework for allocation and transfer pricing of this new reserve back to the business. • Produced with global markets, technology, and project finance colleagues, PTB documents: functional requirements for setting up securities product feeds from the Front Office to the Regulatory Reporting System (to be BCBS239 compliant).• Streamlined an offshore team in Powai, India to deliver regional report production. Cross trained them on liquidity reporting with a focus on VBA automation and on writing commentary from that automated reporting.• Produced and presented monthly LCR results to AEJ senior leadership including the Treasurer, CFO, Head of Product Control and Head of Regulatory Capital.

Hong Kong

 Treasury Dealer/Trader on the Funding Desk accountable for the hard currency funding of the Asia region which encompassed 23 separately domiciled entities/branches. Managed liquidity and funding across USD and Asian currencies by placing and sourcing funds via inter-bank markets, group subsidiaries and FX basis markets.  Provided investment decision making expertise and execution on the region’s USD1bn HQLA (liquidity buffer) portfolio as well as risk management and hedging ensuring portfolio remained within defined risk and liquidity appetite while optimizing portfolio returns.Key Achievements• Accelerated the expansion of a Singapore structured note issuance program as a local replacement for a Luxembourg program.• Devised hedging strategies:o To decrease KRW internal funding rates via synthetic swap trading in non-deliverable forwards (NDFs)o Traded basis between THB onshore/offshore justified via publicly held shares in an onshore entity• Implemented our Middle Office based in India by designing the control processes needed for moving the function offshore.• Developed our Back Office for limited infrastructure entities, this included cash management, payroll, and settlement activities for entities without SWIFT.• Nurtured custody account relationships, alongside Relationship and Network Management team heads, to expanded credit facilities, decrease monthly fees, and increase liquidity pool yield.

Sydney, Australia

Sydney, Australia

Worcester, Massachusetts

Bachelor’S Degree, Finance

Exchange Semester, Finance & Marketing