Kaveet Vadgama

Experience

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  Daiwa Securities SMBC Co. Ltd.

  Nov 2004 - Jan 2005

  Product Controller - Equities

  - Contract Role - Preparation of Daily Profit and Loss Accounts for the Japanese Equities division. - Reconciliation of Mainframe positions and balances with Front Office records to ensure accuracy of information provided to management. Liaising with Trader Support to solve discrepancies and differences.

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  Standard Bank

  Jan 2005 - Sept 2011

  - Products dealt with include fixed income products such as bonds, loans and floating rate notes, single name, index and basket Credit Default Swaps, Credit Linked Notes, interest rate products such as swaps and options, distressed debt and have had exposure to Non-Performing Loan portfolios purchased for trading.- Responsible for the daily P&L processes and liaise with Traders and Heads of Desks for dispute resolution on escalated issues. Ensure material day 1 P&L is justified on new trades.- Review the daily and monthly independent price verification (IPV) reporting - Prepare relevant MIS for monthly, quarterly and annual reporting for the Credit and Principal Trading areas.- Review the Balance Sheet Substantiation currently produced on a monthly basis.- Involved in various change projects within the Bank including Foreign Exchange project, Trading in ‘out of currency’ bonds, IAS39 reclassified assets Effecive Interest Rate automatic calculation within the trading system and Uprade of the credit trading system’s subledger.- Involved in the analysis of the Counterparty Valuation Adjustment (CVA) and Debit valuation Adjustment (DVA)analysis for the bank.- Involved in the Bank’s Credit and Fixed Income Capital Adequacy II (CADII) application. As part of the project, worked with developers to specify the P&L attribution and estimation tools. Also worked on the Bid-Mid provisioning methodology. - Work with the New Product Approvals team to ensure new products meet existing control framework. - Have produced daily P&L for the Credit and Principal Trading areas and performed all monthly controls on various books including IPV, Balance Sheet reconciliations and ensuring that the P&L sign off by the trader matches the General Ledger. Show less - Initially employed for the preparation of Daily Trading Summary and other reporting duties. Dealt with all queries regarding the information reported and was involved in continually improving the layout and content of the reports. - Preparation of daily P&Ls for the Mining and Metals business unit which involves pricing equities and equity warrants; calculation of liquidity and valuation uncertainty provisions and obtaining Front Office signoff for their P&L.- Monthly reconciliation of trading systems to General Ledger.- Preparation of monthly P&Ls for the banking books across areas such as Trade Finance, Energy Finance, Telecoms and Specialised Finance. Compiling analytical margin income data for loans.- Working with Loan Originators and Banking Operations for fee income and other P&L queries on a monthly basis.- Preparing the Forfaiting Risk reports on a daily basis and working with Market Risk to solve any risk queries from the Front Office.- Producing Client Revenue Tracking (CRT) information for the Trade Finance and Corporate Banking books on a monthly basis, handling Originator’s queries and obtaining subsequent CRT signoff. Show less

  • Head of Credit & Prop Trading Product Control (VP)

    Jun 2007 - Sept 2011

  • Product Controller

    Jan 2005 - Jun 2007
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  Deutsche Bank

  Sept 2011 - Feb 2020

  - Finance Director/Manager for Rates. Been responsible for European Credit, Distressed, GRS, LDCM, Convertible Bonds, Structured Rates & Asset Backed Securities businesses previously. Manage 3 staff (VPs) locally and 2 staff in Mumbai- Own the direct CB&S business stakeholder relationships with the Business Desk Heads, Business Managers and Infrastructure functions to drive forward Finance agenda. This includes: • Control/Valuation control/New Products/Audit • Performance/Partnership - Provide tangible Finance output for meaningful discussion such as monthly performance packs, business and trade deep dives; Driving Cost reporting MI development and education to senior Front Office management; Work with business to prepare forecasting, planning & strategy; Partner with business to optimise financial performance (revenue/cost/resources consumed), including analysis and advice around product performance which led to DB exit of Single Name CDS in 2014- Driven/involved in various change projects within the Bank on behalf of Finance such as: • Non-Strategic split – Finance owner for split of the Credit Flow business, mainly moving Single Name CDS. Ran the project globally for Finance including dealing with restatements, communication with Senior Management, MI production, governance guidance and cost analysis • Internal joint ventures – Challenged recent joint venture proposals with a view to reduce complexity and JV entries. This has now been accepted as the preferred choice of JV setup • European Commission Requests for Information – As Finance representative of the working groups dealing with EC queries involving External Audit and External Legal, provided guidance on product characteristics and P&L calculation • Business segment split and creation of Non-Core – Restatement of Management books for prior period comparison. Produced initial guidance paper for senior management on impact of trading with Non-Core (banking book/IAS39 reclassified positions) Show less

  • Director - Head of Cost Optimisation for FIC

    Jan 2019 - Feb 2020

  • VP, Business Management & Control - CIB

    Jun 2017 - Jan 2019

  • Finance Director/Manager - Global Markets

    Sept 2011 - Jun 2017
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  Deutsche Bank

  Dec 2022 - now

  - Head up cost optimisation initiatives for the Investment Bank globally across direct costs- Review allocated costs and work with Infrastructure teams to optimise theseAs of June 2024, also:- Head up Market Data Services for DB- Head up the Divisional Vendor Management team for IB

  • Chief Cost Officer, Investment Bank

    Feb 2020 - now

  • Chief Cost Officer, IB & FIC Sales COO CEEMEA / LATAM

    Dec 2022 - Mar 2024