Instructor Bios

Charles Gates

Charly Gates is an innovative Hedge Fund, Credit, Derivatives, and Capital Markets consulting and instructional professional with an extensive track record in developing businesses for banks and investment banks. His successful career includes the creation of a boot-camp program for FRM (one of the largest global hedge fund of funds); and being on the ground floor of various firms’ swap, credit derivatives, credit risk management consulting and private placement businesses. At present, Charly has an active practice as a consultant and instructor, with expertise in these areas: Hedge Funds; Credit Derivatives; Interest Rate and Currency Derivatives; Bank Lending; Credit Analysis; Commodity Derivatives; Credit and Market Risk Management; Private Placements; Bond Issuance; Structured Finance; Corporate Finance; International Capital Markets; New Business Development and Sales; Learning Program Design and Implementation.

Professional Experience:

FRM (European Fund of Hedge Funds)
Senior Vice President, Learning & Development

• Developed and implemented a unique and highly successful boot-camp program for select global employees which provided core knowledge about the client’s business, investment strategies, classifications, business risk management, processes, operations and other key elements, and which was run multiple times in London.
• Managed various global and regional events on management skills, presentation skills, compliance, marketing, proprietary systems and investment processes.

Gates Associates
Credit and Market Risk Consultant

• Classroom learning and e-learning program development and delivery. Specialized in: Derivatives, Capital Markets, Corporate Finance. Clients include: Digital Think, Wide Learning, FT Knowledge (NYIF), Zoologic, and several major investment banks and international banks.

Deloitte & Touche, LLP
Co-Head, Credit Risk Management Services

• Developed credit risk management consulting services with global client base: credit process re-engineering, strategy/organizational structure; quantitative credit risk measurement, system selection, integration and implementation, credit scoring, structuring, credit derivatives application

• Responsibilities included: assessment of credit process & organizational structure for North American government export agency; Review of Risk Management reporting for North American insurance firm; Credit, Market, Treasury and MIS reporting review for foreign bank; Development of web-based diagnostic tool for improved credit approval and risk management process within banks; Development of commodity based credit derivative funding transaction in advisory form to permit accounting firms to benefit from success based fees.

Rabobank International
Derivatives Marketing Manager

• Start up activities included: Derivatives Marketing activity for the US, Canada, Latin America; first credit default swaps and equity total return swaps; structured Latin American credit-linked private placement; high-yield debt total return swaps; and initiated hedging of securitization vehicles.

Previous professional experience: Securities The First National Bank of Chicago, and Citibank.

Charly Gates has a remarkable financial industries career and consulting expertise background. His previous affiliations include holding senior positions with Hong Kong Bank, SG Warburg

Education

MBA: Columbia Business School (cum laude)
BA: Yale University (cum laude)
Series 3 licensed

Eric Gelb, CPA & MBA

Eric Gelb is a specialist in corporate finance, asset-based lending, leasing and implementing securitization of new asset classes, as well as a professional trainer and developer of financial educational programs. Eric’s expertise covers a wide range of topics including Corporate Banking, Accounting, Structured and Corporate Finance, Leasing, Securitization, Financial Statement Analysis, Financial Management, Capital Budgeting and Control, Personal Financial Planning, Taxation, and Selling Corporate Banking & Corporate Finance Products to Fortune 1000 Companies.

With over twenty years in the business, Eric has held significant positions with some of Wall Street’s largest firms. Eric was a Senior Vice President and National Sales Manager of Citigroup’s Bankers Leasing unit and grew business volume from $641 in 2003 to $734 million in 2004, a 14% increase. Prior to that, he was a Vice President and Senior Transactor of the Structured Products Group for JP Morgan Securities, Inc. He specialized in originating and implementing securitization of new asset classes, including loans, royalty streams, future flows, leases, and contract monetization. Prior to this he was a VP and Senior Transactor of Citigroup’s Asset Finance Group. As business manager of their synthetic leasing initiative, Eric originated, structured and executed structured lease financing and placed equity and syndicated debt. He has successfully closed over $8 billion of financing transactions in his corporate finance career.

Prior to this, Eric was a Staff Accountant in General Audit at PriceWaterhouse Coopers where he was responsible for auditing Fortune 500 firms’ financial statements. Clients included Deutsche Bank, IBM, Young & Rubicam, Olympia & York, and Chase Manhattan Bank Pension Funds.

While associated with JPMorgan, Eric created a new Multi-Seller Conduit (Relationship Funding Company LLC) that funded structured transactions. Within 16 months, the vehicle issued over $1.8 billion of Asset-Backed Commercial Paper.

A celebrity in his profession, Eric has written four books on personal finance and appears on radio and television shows across the country, including Bloomberg Radio and TV, NPR’s Sound Money, the Business Radio Network, and On the House with the Carey Brothers. He also founded Gateway Financial Advisors, LLC. He has led numerous coaching sessions on personal finance, ranging from 10-450 participants. Eric also presented at The Boston Globe Personal Finance Conference (1999-2002) and the Star Ledger Personal Finance Conference (2002).


EDUCATION:
Credit Training Program at CITIGROUP, New York 1992

MBA: Finance and Marketing (Dual Major) 1989
COLUMBIA UNIVERSITY New York, NY

BS, Economics: Accounting & Finance (Dual Major) 1984
WHARTON SCHOOL, UNIVERSITY OF PENNSYLVANIA Philadelphia, Pa

PROFESSIONAL REGISTRATIONS:
Series 7, Series 63
CPA, New York State

Kenneth R. Kapner

Ken has over 20 years experience in the financial markets.  Currently, he is President and CEO of Global Financial Markets Institute, Inc., a financial training and consulting firm. 

Instructor Led Training Experience:

Since 1997, Ken has designed, developed and delivered custom instructor led training courses for a variety of clients.  His areas of expertise include derivative products, risk management, fixed income and portfolio management.  A sample of clients include Prudential Insurance Co., Barclays Capital, HSBC, New York State Insurance Department, FDIC, Wachovia, The Federal Reserve Bank-New York, The Federal Housing Finance Board, The National Credit Union Administration and FitchRatings. 

Project Experience:

Ken is a subject matter expert in the derivatives field and his training and market experience has led to the delivery of the following projects over the past few years:

  • Project manager for a multiple session content development program with a government regulator.  These modules were part of an overall securities licensing program for a foreign country’s financial advisory program.  Topics included: Derivatives, International Transactions and Investment Advisory / Wealth Management.  Each module included power point, textual content (approx 50-100 pages each), case studies and exercises and final exam questions.
  • Developed and conducted a 3 day formal classroom training course titled “Fixed Income and Related Derivatives” and subsequently created a self-contained, stand-alone computer based training course of the same instructional material for independent study.
  • Designed a two day seminar titled “Derivative Products” which included developing a power point presentation including detailed instructor notes, case studies and hands on exercises addressing the learning objectives specified by the client.
  • As a SME, has written and reviewed a variety of on-line computer based self-study programs.  A sample of programs include:  Hedging Interest Rate Risk with Derivatives, Hedging with Futures and Options, Derivative Products, and Introduction to Mortgage Backed Securities.

Prior to this, Ken was employed for 14 years with the HSBC (Hong Kong and Shanghai Banking Corporation) Group in their Treasury and Capital markets area where he traded a variety of instruments including interest rate derivatives, spot and forward foreign exchange, money markets, managed the balance sheet, sat on the Asset Liability Committee and was responsible for the overall Treasury activities of the bank. He spent two years in Hong Kong where he headed up HSBC’s Global Treasury and Capital Markets Product training.  Specifically, his responsibilities included developing new courses and delivering courses to traders, support staff and relationship managers. In New York, he established a training department for the firms’ Securities Division where he was in charge of the MBA Associates Program, continuing education and Section 20 license. Ken has co-authored/co-edited seven books on derivatives including The Swaps Handbook and Understanding Swaps. Ken sits on the Board of Advisors for the International Association of Financial Engineers.

Education:
MBA Finance: St. John’s University, New York, NY 
BA:  State University of New York at Cortland

Publications and Articles:
Article

  • March 2002 Futures Magazine, Doing Your Homework on Individual Equity Futures (Co written with Robert McDonough)
    Books
  • 2007 “Introduction to Fixed Income” Co-Author Mindy Kapner CFA. Self published. Due out 2007
  • 1996 Como Entender Los Swaps, (co-author: John Marshall), published by CECSA (a Mexican publishing firm). This is a translated edition of our book Understanding Swaps, but with adaptations to fit the Mexican markets. (289 pages)
  • 1993 The Swaps Market: 2nd edition, Kolb Publishing, 288 pages (Co-author: John Marshall, copyright 1993). This book is directed to the graduate business student.
  • 1993 Understanding Swaps, John Wiley & Sons, 270 pages (co-author John Marshall, copyright 1993). This book is directed to the practitioner market and is published as part of Wiley’s Finance Series.
  • 1993 1993-94 Supplement to the Swaps Handbook, New York Institute of Finance, a Simon & Schuster Company, 494 pages, (co-author John Marshall and Ellen Lonergan, copyright 1993). This book is directed to a practitioner audience and is a supplement to The Swaps Handbook. My role was largely that of editor.
  • 1991 1991-92 Supplement to The Swaps Handbook, New York Institute of Finance (Simon & Schuster Professional Information Group), 300+ pages (Co-author: John Marshall copyright 1992). This book is directed to a professional practitioner audience and is an annual supplement to The Swaps Handbook.
  • 1990 The Swaps Handbook: Swaps and Related Risk Management Instruments, New York: New York Institute of Finance, a Simon & Schuster Company, 543 pages. (Co-author: John Marshall). This book is directed to derivative product professionals.
  • 1988 Understanding Swap Finance, Cincinnati: South Western publishing Company, 155 pages. (Co-author John Marshall, copyright 1990). This was the first academic text published on the swaps markets.

Affiliations:
International Association of Financial Engineers
Board of Advisors - 1994 - 2006
Global Association of Risk Professionals
ASTD National and New York Chapters

Rob McDonough

As the Executive Director of Global Financial Markets Institute, Inc., Rob McDonough started his career with the Federal Reserve System as a commercial banking and capital markets special advisor in Bank Supervision and Regulation. Over his 12 years there, he analyzed the strategies and exposures of on and off balance sheet positions, investments, and trading activities of banks, investment subsidiaries, and foreign banking organizations. He assessed the adequacy and effectiveness of risk management and recommended strategies to senior management to improve risk monitoring, increase profitability and to reduce the likelihood of failure. Rob chaired a system-wide committee to design, develop and deliver capital markets training to examiners as well as domestic and international financial institutions.

From 1998 to 2000, Rob was the Senior Manager of Financial Services Industry Group for Accenture, Ltd. Working with clients such as First Union Corporation, he headed a joint task force responsible for defining and implementing a post-merger organizational structure for the Brokerage Division’s IT department. Rob also worked with ING Group of Amsterdam in developing market, credit and operational risk management strategic policies for Europe’s second largest financial services firm, during a major restructuring.

Over the past few years, Rob has been the president and CEO of a consulting services group which specializes in domestic and international financial institutions. Key areas of consulting include:

  • ALM and Modeling
  • Market & Credit Risk Management
  • Core Deposit Analysis
  • Internal Controls and Audit Procedures
  • Portfolio Management
  • Risk Modeling
  • Foreign Exchange
  • MBS’s and CMO’s, and Asset Securitization
  • Derivatives Risk Analysis
  • Value at Risk
  • Equity and Credit Derivatives

Rob has instructed previously for FTK/New York Institute of Finance (2000-2003), where he was one of their top specialists in derivatives, credit markets and risk, as well as having delivered programs for various regulatory and financial clients. He is a charter holder of the Bank Administration Institute’s Certified Risk Professional (CRP) designation and is an ITCI Certified Investments and Derivatives Auditor (CIDA). He has delivered capital markets and risk management seminars to financial institutions across the U.S. as well as in Russia, Poland, the Republic of Georgia, the Netherlands, India, Singapore, Argentina and Mexico. Rob has an MBA in Finance and Economics from Georgia State University and a BBA from Emory University in general business administration with a concentration in marketing.

Education:
MBA: Dual major (Finance and Economics) Georgia State University
Graduate School of Business Administration, Atlanta, GA
BBA: Emory University, Atlanta, GA, General Business Administration, Marketing
National Merit Scholar Finalist: The Westminster Schools, Atlanta, GA

Certifications:
Chartered Financial Analyst Program – Taking Level II Exam in June 2004
Commissioned Examiner for the Federal Reserve System
BAI Certified Risk Professional (CRP) in Treasury/ALM and Balance Sheet Risk Management
ITCI Certified Investments and Derivatives Auditor (CIDA)

Appointments:

  • Nominated by the Federal Reserve Board to participate in a six-month project on-site in Washington, DC, to assist in the development of the FRB Trading Activities and Capital Markets Manual (1997)
  • Appointed chairman of the Capital Markets Level I Training Committee for the entire Federal Reserve System. Developed a training curriculum for examiners chosen to specialize in capital markets examinations (1996)
  • Nominated to join the FRB System-wide Model Development Committee to design a regression model generating examination ratings from Call Report data for banks that have not recently been examined (1996)
  • Selected by Dr. Donald Rataczjak, Director of the Georgia State Economic Forecasting Center, to serve as a visiting research assistant to develop a model to predict loan demand for a large banking client (1994)

Publications:

  • “Doing Your Homework on Individual Equity Futures”; Futures Magazine, March 2002 (with K. Kapner)
  • “Brady Bonds in Latin American Capital Markets”; Capital Markets Update, FRB Atlanta, October 1997
  • “Valuing Interest Rate Swaps”; Capital Markets Update, FRB Atlanta, March 1996
  • “Structured Note Bifurcation”; Financial Update, FRB Atlanta, October 1992

Recent Engagements:

  • Consulted on implementing a VaR model to ensure compliance with the Risk Based Capital Accord’s Market Risk Amendment at Morgan Keegan
  • Presentation on Value at Risk Methodologies at the Federal Financial Institutions Examination Counsel’s (FFIEC’s) Capital Markets Conference
  • Two day seminar for the National Association of Securities Dealers (NASD) in New York on Understanding and Auditing a Broker/Dealer
  • Recommended the selection of a vendor-based valuation model to assign mark-to-model prices to non-conforming whole loan collateral at the FHLB of Atlanta
  • Consulted with Internal Audit on the Liquidity and Funds Management audit for the Federal Home Loan Bank of Atlanta
  • Prepared a report for the Audit Committee of the Board of Directors providing proposed solutions to earnings volatility generated by SFAS 133 GAAP accounting standards at the FHLB of Atlanta
  • Consulted on asset/liability management model validation and derivatives operations audits for the Federal Home Loan Bank of Atlanta, Atlanta, GA
  • Two-day seminar on Auditing Risk Models and Securitization for the Investment Training and Consulting Institute, Chicago, IL
  • Two-day seminar on Auditing Risk Models for the Capital Markets Audit Team at the Farm Credit Administration, Washington, DC
  • Two-day seminar on Auditing Asset/Liability Management for the Audit Division of BB&T Corp., Winston-Salem, NC
  • Two-day seminar on Current Issues in Auditing Risk Management for the Texas State Auditors Pension Audit Group
  • Three-day seminar on Asset Securitization for Susquehanna Bancshares, Lititz, PA
  • Consulted on middle office risk management best practices for the trading arm of a large insurance company, Toronto, Canada
  • One-day seminar on Securitization and Credit Derivatives for Credit Suisse First Boston, New York, NY
  • Two-day seminar for the Investment Training and Consulting Institute on Advanced Derivatives in San Diego, CA
  • Presentation on Core Deposit Modeling Issues at the Federal Financial Institutions Examination Counsel’s week-long Capital Markets Conference, Arlington, VA
  • Two-day BAI-sponsored seminar on Interest Rate Derivatives for Chase Mortgage, Horsham, PA
  • Consulted on a middle office risk management audit for the trading arm of a large energy utility in Vancouver, Canada
  • Led an audit team in evaluating the market risk management of the trading arm of one of the largest energy derivatives trader in the U.S.
  • Two-day seminar for KPMG on Mortgage-backed Securities and Asset Securitization in Washington, D.C.
  • Co-sourced with the Audit Division of Regions Financial Corp. to develop and conduct an internal audit of Regions’ Treasury and Asset/Liability management functions
  • Two-day seminar for the Investment Training and Consulting Institute on Emerging Issues in Derivatives in Myrtle Beach, SC
  • Engaged by ING Group North America to develop an internal audit program and risk management best practices for their public fixed income portfolio management group
  • One-week seminar for Merrill Lynch’s Associate Development Program in New York on Equity Derivatives
  • Two-day seminar for the Bank Administration Institute (BAI) in New York during their Treasury Conference on Interest Rate Derivatives
  • Reviewed and developed Market and Interest Rate Risk policies and procedures for Bank Zenit’s Chief Risk Officer in Moscow, Russia
  • Co-sourced with the Audit Division of Regions Financial Corp. to develop and conduct an internal audit of Regions’ Client Derivatives and Funds Transfer Pricing (FTP) functions
  • One-day program for Charles Schwab’s Retail Brokerage Associates Program on Capital Markets Risk Management and Value at Risk in New York
  • One-week seminar on Asset/Liability Management for the Central Bank of Russia and the Siberian Bank Training Center in Novosibirsk, Russia
  • One-week seminar on Asset/Liability Management and Interest Rate Risk for the Industrial Development Bank of India (IDBI) in Hyderabad, India
  • One-week seminar on Securitization and Asset-Backed Securities for the New York Institute of Finance’s Singapore office
  • Adjunct Economics Instructor, Georgia Perimeter College – Macro-economics

Stanley D. Monsowitz

Stan Monsowitz is a Capital Markets, Brokerage Ops and Technology specialist who also is the Managing Partner of Global Financial Services Capital Markets/Securities IT Practice at a consulting firm. Stan has also written books on Mutual Fund Operations as well as Securities Processing and his clients include the FINRA, the SEC and various major financial institutions looking for assistance building their Back-Office Clearing and Settlement business, Risk Management and Mutual Fund business. As a consultant, Stan integrates a management consulting practice within a global technology consulting company; he also designs and delivers Straight Through Processing (STP) Automation projects to Investment Managers, Mutual Fund companies, Stock Exchanges, broker/dealers and custodians worldwide. Stan has also worked as a Trainer for over 20 years and has given classes at most of the major global financial services firms. Stan is also an Industry Expert and Expert Witness, and has been called upon to testify at various legal proceedings.

Previously, he was the Managing Director for Financial Services at Luminant Worldwide Corporation. Prior to that, he was a Senior Partner at A.T. Kearney, responsible for the Global Capital Markets/Securities Consulting Practice and a senior executive at Cap Gemini America responsible for the Financial Services Practice. While at A.T. Kearney, he was responsible for a major consulting project in Korea, where he headed a project for the KDB (Korea Development Bank), as well as leading projects in China and other areas in Asia/Pacific.

In former positions, Stan has served as a senior level manager for such firms as SRI Consulting, PriceWaterhouse, Equitable Capital Management, and Paine Webber (now UBS) -- which have contributed to his vast and thorough knowledge of front-to-back office systems, operations, technology and ongoing developments. He is also an ongoing member of various Securities Industry Association (SIFMA) committees and is the US representative to the Canadian Securities Industry.

 

Special Areas of Interest and Educational Training Expertise:

Front-to-Back Office Operations and Systems, as well as STP Trends and Technology issues

in the U.S. and Canada, Asset Management, Securities Lending, Repos, Mutual Funds and Mutual Funds Ops.

 

Educational Background:

Ph.D., Mathematics (ABD), New York University

M.B.A., St. John’s University

M.S., Mathematics, Yeshiva University

B.S., Mathematics, City College

 

Memberships

Advisory Commission Chairman for the New York City Technical College

New York City Chamber of Commerce, Member

Data Management Division of Wall Street, Business Procedures Committee member

Data Management Division of Wall Street, IT Committee member

Securities Industry Association, Operations Committee member

Securities Operations Division, Committee member

Corporate Actions Division, Committee member

Canadian Capital Markets Association, ITPWG Committee member

Henry Pullman

With over thirty-two years of banking and finance experience, Henry offers extensive global credit analysis experience combined with hands-on applications and credentials. His expertise in the Credit Risk, Credit Audit and Credit Analysis fields awards him with numerous teaching and consulting assignments throughout the banking and investment industries.

In this manner, Henry specializes in creating programs that address those issues of most concern for those who must make critical judgment on the creditworthiness of a corporation or bank. His target audiences range from the novice to experienced lending bankers and fixed income professionals, and classes can be introductory to advanced. Some of the programs that Henry instructs include: Analysis of Financial Institutions; Credit Portfolio Risk management; Credit Risk Analysis; Essentials of Business Valuation; Private Banking and Credit Risk; Essentials of Banking; Early Warning Signs and Failures; Credit Portfolio Risk Management; Securitization Process; and Credit Training.

Currently, he also works with a consulting firm as a reviewer and loan quality consultant. The firm performs a variety of due diligence tasks, assesses and reviews portfolios, and critiques policies and procedures of client banks.

Prior to this, Henry had spent much of his professional career at two of the industry’s top firms: Barclays PLC and Manufacturers Hanover Trust Company. At Barclays Capital, he was employed for over 15 years in various senior credit positions. As Group Head of Credit Risk Review, Henry established a new function of credit review in line with Federal guidelines. Henry headed an expansive risk review function and provided guidance and consultation to internal risk management worldwide. He interfaced with regulators and auditors and was active in the creation and monitoring of policies and procedures.

Henry had previously been Managing Director of Credit Risk Management, with a lending discretion of up to $750 million. A voting member of the Credit Committee and Operations Committee, he was also the Compliance Officer for the Division. Areas of expertise included: Energy, Utilities, Structured Assets, Insurance, Securitization and Communications.

Prior to Barclays Capital, Henry was Vice President and Team Leader of the Midwest Corporate District for Manufacturers Hanover Trust Company in New York. He was a Supervisor in Credit Training and developed and implemented programs for all management trainees.

Education:
MBA, Concentration in Finance, Cornell University
BA, Economics, Cornell University

Charlotte Scott

Charlotte Scott is a broadly accomplished financial services professional with 20 years of comprehensive experience in the areas of as securities operations and information technology, as well as training and development.  Her successful career includes the direction of business projects as a client manager for listed and OTC equities and fixed income trading.  At present, Ms. Scott has an active practice as a consultant writing courseware for financial services firm and presenting training programs for both domestic and international audiences.

Professional Experience
1997-Present Independent Consultant and Trainer

  • Developed course material and presented training seminars for leading financial services firms.  Specialty areas encompass equity and fixed income trading and operations, both U.S. and international.  Training clients have included Morgan Stanley, Credit Suisse First Boston, Fidelity Brokerage, and Deutschebank Securities.  Currently a staff instructor at the Securities Operations Forum presenting training seminars in domestic and international securities processing.  Seminars are conducted on both an open-enrollment basis and as customized training solutions for specific clients.
  • Most recently completed a consulting project for a major OTC marketmaker to reduce both trading and clearing and settlement costs.  An analysis of the firm’s use of NASDAQ and ECN’s reduced trading fees and led to the purchase of a new Order Management System to replace BRASS.  A cost/benefit analysis was performed regarding alternatives for self-clearing or a correspondent clearing relationship.  This analysis was used in the selection of a new clearing broker.

1994-1997   Bankers Trust Corporation
Vice President, BT Securities Corporation

  • Directed staff of 5 Vice Presidents who managed the planning and execution of tactical and strategic technology efforts to support all business lines and their operations groups within Banker Trust’s Section 20 broker/dealer.  Performed cost benefit analyses for line managers’ technology requests.  Set departmental technology priorities.
  • Major technology projects included conversion of domestic equity operations from an in-house back-office system to ADP’s service bureau, the automation of international operations to WILCO’s Gloss package, and implementation of EPN for the MBS middle office.
  • Support of business initiatives included feasibility study for prime brokerage business development, conversion to T+3, implementation of repo netting at the GSCC, and business continuity planning.

1992-1994   PaineWebber Incorporated 
Divisional Vice President, Information Services

  • Led a team of 15 business analysts and application programmers to develop a firm-wide On-Line Trade Processing (OTP) application as part of the firm’s New Foundation Architecture effort to consolidate 30+ diverse front-end legacy trading systems.
  • Instituted Joint Application Design (JAD) as the department’s standard method for extracting high-quality business specifications and consensus-based information in a compressed time frame.  JAD supported information engineering techniques and included requirements definition, process and data models, detailed screen and report design, process re-engineering and conflict resolution.  

1987-1992   Credit Suisse First Boston
Assistant Vice President, Information Technology

  • Delivered a multi-currency, multi-entity clearance and settlement system for all product channels, including equities, fixed income, and internationals.  Managed a team of 10 application developers as part of an enterprise-wide initiative:  New Trade Processing Architecture (NTPA).
  • Clearance and settlement components included a unified GUI user interface and links to outside entities such as DTC, Manufacturer Hanover’s link to the Fed, and PTC (now MBSCC/FICC).

1982-1987   Drexel Burnham Lambert 
Business Analyst, Financial Trading Systems Inc. (FTSI)

  • Conducted methods and procedures reviews of Drexel’s Commodities Trading and Operations areas.  Assisted in the design and implementation of a new Commodities Trade entry system in support of COMEX floor traders.

Education
College of the Holy Cross, BA
Rutgers University, MA
New York University, Continuing Education

Neale Steiniger

With over twenty years experience in the financial markets including fifteen with the international exchanges, Neale Steiniger has both expertise and hands-on knowledge of the global securities processing and settlement markets. In mid-2003, Neale co-authored “The Handbook of: Global Securities Operations”, which explores the many processes, roles played and changing landscape of the global securities markets. Neale is the President and founder of Neue Schaffen & Company (1991), a consulting firm specializing in advising firms on international securities markets trading and settlement procedures and the development of customized educational programs. As a consultant, she develops and implements procedures for the development of global operations for Investment Managers, Banks and Brokerage Firms. She develops courses in trading, clearing and settlement procedures in the U. S. and International securities exchanges.

She has held positions at Merrill Lynch Capital Markets Group and Barclays de Zoete Wedd Securities, Inc. in the area of sales, arbitrage trading, European equity trading and international settlements.

While at Merrill Lynch, she hedged New York listed stocks and convertible preferred shares, bonds and options. Transferring to the Foreign Trading desk, she traded securities listed on the European Exchanges for the firm’s account. After joining the New York office of Barclays de Zoete Wedd Securities, she covered the Far East markets as a sales trader, servicing U. S. Institutional clients. After compiling a training manual and developing procedures for direct overseas settlement, she established and managed BZW’s booking and international settlements department.

Neale has written several articles on developments in global settlements as well as self-study manuals and web-site self-study program for brokerage houses, banks and other industry organizations. Articles published in well-known industry newsletters include Depo-lite, the story of scripless settlement; Taxes: throwing a wrench into the cross-border investment game; The dreaded rights offering; Taxback to get taxes back; The MT511: jack of all Trades; Universal Suffrage for Shareholders.

She is an adjunct lecturer at New York University and has instructed and designed programs for the New York Institute of Finance. Neale majored in Accounting at St. Johns University. As a Registered Representative, she obtained her Series 7 registration. As a member of the International Operations Association (currently ISITC/IOA), she served on the Associations’ Education Committee. 

Mayra Rodriguez Valladares

With nearly two decades of capital markets and derivatives experience, Mayra Rodríguez Valladares has incredible international experience and a wide breadth of knowledge in various facets of the financial industry.  She has managed and educated numerous multi-national teams in Central and Southeast Asia, Russia, the Middle East, Europe, and the United States.  Currently the principal of her own consulting firm, Mayra specializes in training bankers, Operations and IT personnel, compliance and regulatory employees, and analysts.  She has also worked with pension fund managers from around the world.

Key areas of consulting and educational instruction include:
• Credit Derivatives
• Risk Management
• Basel II
• Credit Risk
• Operational Risk
• Interest Rate, Equity and FX
• Energy Derivatives, Emerging Markets
• Credit Portfolio Risk Management
• Equity Derivatives
• Options
• Retirement Plans
• Budgets and Financial Planning
• Macro Economics

A specialist in topics such as valuation of oil and gas companies, Mayra also has created and delivered many courses in interest rate and FX Derivatives, Currency Swaps and various Credit Derivatives, for banks, supranationals, and various learning institutions worldwide.

Mayra started her career as a FX Analyst for the Federal Reserve Bank where she received the Performance Plus Award for leading a foreign exchange course for foreign central bankers. Whilst at the Fed, she analyzed the impact of economic and political developments of Canada, Russia and other countries on G-7 FX rates, producing reports for US Treasury and FRB usage. She also delivered seminars to Latin American central bankers and FRB staff.

At BT Alex Brown, she was the Senior Russian Equity Analyst and VP, focusing on creating financial models to value top Russian utility and oil firms for primary and secondary market activities, as well as mentoring junior analysts in equity valuation. 

Some of Mayra’s energy-related accomplishments include:
• A Canadian Oil Co: writing annual business plan for firm investing in Kazakhstan
• Cambridge Energy Research Associates: Researched and authored report on Russian electricity
• Prudential Securities: Analyzed and wrote reports on various firms such as Schlumberger, Varco, Chiles Offshore, Tidewater and Halliburton.

A former teacher for New York University and for the Fashion Institute of Technology, Mayra has taught courses in: The Economics and Finance of Energy, The Politics of International Economic Relations, Corporate Finance, Global Marketing including competitive analysis & market research, as well as Latin American Politics, World Trade, Finance and Marketing.
A professional consultant around the world, Mayra is fluent in English, Spanish, and Russian and has proficiency in German, Italian and Hebrew.  She has worked, studied, consulted and traveled in 60+ countries.

Education:
MBA: Emerging Markets Business (Latin America and Eastern Europe)
 Wharton School and the School of Arts & Sciences, Univ. of Pennsylvania
MA: International Studies
 The Lauder Institute of the University of Pennsylvania
AB: Russian and Soviet Studies
 Harvard and Radcliffe Colleges
 Magna cum laude thesis on Berlin Blockage; Slavic Dept.’s Best Thesis Award

Other Educational Achievements:
Raoul Wallenberg Scholar: Hebrew University
Middle East Politics and Conflict Resolution

Publications:
Mayra has authored and published numerous articles for various industry periodicals worldwide.  A sample of her impressive list of published works includes:
• “Financial Times Energy”: (Book) July 1999 (170 pgs).
• “Russia’s Utility Being Restructured”:  Acquisitions Monthly, November 2001
• “Foreign Interest in Energos”: Energo, FSU/CE Power Report, January 21, 2002
• “Emerging Market compliance with Basel II”: GARP, June 2006
• “Opportunities for Hispanic MBAs in the consumer Goods Sector”: Hispanic MBA, Spring 2002
• “Creating Value Through E-Commerce Business Models”: Knowledge@Wharton, September 29, 2000
• “The Indian Economy: The Recovery is Here,”: Oxford Economic Forecasting Group, Summer 1999