Tim Mcdermott Email & Phone Number

Responsible for maintaining and monitoring counter-party credit risk and market risk models. Global Markets Risk Analytics also develops analytical tools to support regulatory, audit, and internal risk management needs for Data Controls & Integrity teams. Responsible for ensuring adequate controls and processes exist to validate the firm’s traded products activity for the purposes of Credit and Capital calculations and reducing negative exposure. Assisted in process re-engineering, automation, and the development of the data risk repository.Contribute to various weekly and quarterly meetings with all levels of management.Area Project Management:Large scale coordination between teams to ensure risk metrics were properly defined, organized and recorded.Identified all possible risk, both internal and external, to prevent bank exposure during a large data/external account transfer project.Area point person for companywide entity rollover project. Addressed all inquiries, provided timely and accurate data and ensured all deadlines were met.

New York, New York, United States

Responsible for maintaining, and monitoring counter-party credit risk and market risk models. Global Markets Risk Analytics also develops analytical tools to support regulatory, audit, and internal risk management needs for Data Controls & Integrity teams. Responsible for ensuring adequate controls and processes exist to validate the firm’s traded products activity for the purposes of Credit and Capital calculations and reducing negative exposure. Assisted in process re-engineering, automation, and the development of the data risk repository.Contribute to various weekly and quarterly meetings with all levels of management.Area Project Management:Large scale coordination between teams to ensure risk metrics were properly defined, organized and recorded.Identified all possible risk, both internal and external, to prevent bank exposure during a large data/external account transfer project.

New York, New York, United States

Diligent team member assisting with updating, modernizing, and streamlining Compliance and enterprise-wide policies and procedures. Reviewed policies and procedures for referenced regulatory rules and regulations to ensure they were up to date, active and accurate. Worked collaboratively with various teams to ensure required document updates were done before the required deadlines and uploaded correctly to the appropriate systems.

Jersey City, New Jersey, United States

Hands-on Associate Director with a balanced focus on Operations and Compliance needs. Conducted due diligence investigations, monitored the OFAC (Office of Foreign Asset Control) sanctions list and reported findings to the Legal and Compliance areas. Assisted with filing SARs. Supported the SEC Audit Team/management liaison teams in responding to questions and document requests from the SEC during audits. Processed transactions (ACATS, short positions, etc.) assisted with client, issuer and Transfer Agent onboarding, Transfer Agent services and update requests, supported office work, monitored client account balances for accuracy with direct external client contact and resolved position differences (breaks) as needed, as well as ensuring all strict department deadlines were met. Assisted with Reorganization events, Principle & Income and client account set up. Daily interactions with DTCC Settlement to ensure certain cash balances were accurate. Created, monitored and ensured strict adherence to the Policies and Procedures for various tasks. Notable Contributions: Vital role in a major audit of an operations-wide division; worked with outside regulators and audit teams (e.g. Deloitte and SEC). Effective collaborator and liaison during daily and weekly interactions with FINRA.Spearheaded the strategy in setting up a new European (UK) office, collaborating with HR to assist in hiring, personnel management, onsite training, and knowledge sharing.Led working groups to increase automation through databases, increasing efficiencies; transitioned from paper to digital.Managed departmental savings projects that reduced costs of processing area functions; achieved $300K in savings for 2018.Oversaw personnel across multiple locations (Tampa, Jersey City, UK); mentored direct reports in the ‘Rising Stars’ emerging talent program.Organized statistics on budget, staffing, and diversity for a weekly presentation to the Executive management team.

Jersey City, New Jersey, United States

Promoted to lead a team in the streamlining of aged processing procedures. Ensured accuracy of policies and procedures, as well as consistency of application across teams.Monitored foreign companies using the OFAC sanctions list for activity and reported any necessary findings to the Legal and Compliance departments. Worked with the Compliance and Legal departments to flag any issues when required. Most often due to charges or injunctions placed by regulators or due to transaction monitoring flags, these companies were then monitored for activity and the final outcome of the charges in question.Streamlined the Transfer Agent onboarding and related issuer request process.

Jersey City, New Jersey, United States

Advanced into a leadership role to leverage expertise to resolve complex issues, while still performing due diligence investigations and daily Operations related tasks (e.g. AML, company eligibility, potential fraud or irregular activities via transaction monitoring reports). Processed weekly and monthly reports; assigned agents to companies. Worked with Compliance to assist in completing day-to-day overflow assignments. Member of the Super Storm Sandy recovery team following the impact of the storm. Collaborated with range of key stakeholders to assist the project in recovering all damaged stock and get operational processes back online.

New York, New York, United States

Enhanced Due Diligence reviews related to companies applying for eligibility, potential fraud and irregular activity, AML (Anti-Money Laundering).Additional responsibilities included: Assigned and updated Transfer Agents and Paying Agents to various companies upon request. Weekly and Monthly report processing. Provided input on how aged processing actions could be modernized. Worked with Compliance department to assist in completing day to day overflow assignments. Books and Records reconciliation. Transaction monitoring and account activity review.