Jaye Smith

Experience

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  Bank of America

  Oct 2000 - Sept 2002

  Daily settlement and peripheral duties relating to Individual Equity Options and Underlying Shares (Germany, Switzerland, France, Finland), OTC European Exchange-look-alike single stock options, P/L reconciliation, Investigations, Brokerage and maintenance in conjunction with learning to trade the above mentioned products.Being responsible for producing, monitoring and controlling the daily profit & loss and reconciling this to the back office ledger. Providing commentaries and explanations in cases of big PNL swings etc. Appreciation of risk associated to positions and risk management. Implementing more efficient PNL and brokerage procedures. Interacting with other departments and advising and helping when required. Show less

  • Equity Options Market Maker Trader

    Mar 2002 - Sept 2002

  • Trader Assistant

    Oct 2000 - Mar 2002
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  Lehman Brothers Limited

  Apr 2003 - May 2005

  Senior Analyst/Supervisor Fixed Income Derivatives Middle Office

  Supporting the derivatives desk for core products (IRS, OIS, Cross Currency Swaps, Swaptions, FRA’s, Caps/Floors and F/X). Booking trades into risk systems but also recognising and rectifying any ticketing errors prior to booking. Being responsible for post trade date maintenance of trades including the following: - Payments, reconciliation, investigations, rate fixings, expiries, brokerage and interpolations. Also being responsible for daily monitoring and maintenance of Swapclear and Swapswire. Interacting with Front Office, Sales, other areas within Lehman Brothers and external entities. Testing new technology releases and other process changes. Show less

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  Royal Bank of Scotland PLC

  May 2005 - Apr 2009

  Providing a full and dedicated support to the FSG Front Office. This utilised my specialist ability to understand the lifecycles of the complex transactions executed, related products traded and the systems and mechanisms required to enable full control and accurate and appropriate information to be reported. These structured trades consist of many of the Equity and Fixed Income products that I have been responsible for previously in my career. Requirement to work closely with originators, review transactional documentation from a portfolio perspective, arrange and set-up operational bookings necessary for administering a new transaction, on-going maintenance, where necessary, of all systems, management of all accounts, deposits and loans made available to FSG(internally & externally), monitoring portfolio performance, ratings (e.g. client's debt rating) and value (this would apply in the case of portfolios which have Market to Market pricing), being a liaison point for Front Office, clients and other parties involved in FSG transactions, administration of SPV Companies including the co-ordination of tax returns and provision of audited accounts. As a result of the acquisition of ABN Amro by RBS at the end of 2007 I was actively involved in Project managing the integration of the RBS FSG middle Office with the ABN Amro equivalent. This was a huge and extremely complicated task due to the size of the merger (the biggest banking merger ever to date!) and the nature of the business. Ensuring system synergy and novation of trades efficiently combined with the normal everyday duties has been extremely challenging and rewarding. Show less Supporting the Equity Derivatives trading desk by ensuring that all trades were verified to trade blotters and independent 3rd party documentation. Performing daily reconciliations both internally and with the Prime Brokers, these included position, margin, stock borrow and cash reconciliations – also ensuring that all controls that had been put in place and were being adhered to. Responsibility for funding the daily cash positions and keying the end of day market data. Establishing close working relationships, at all levels, with Front Office, Support Staff (e.g. Credit, Finance, Market Risk, Legal & IT) and all areas across operations – this allowed for an integrated and proactive approach to the business’ requirements. These included understanding the lifecycles of the products traded, the systems and reporting mechanisms required to enable full control leading to accurate and appropriate information being supplied.New systems and regular releases required me to be actively responsible for comprehensive testing and the timely release of new functionality. Show less

  • Transaction Manager, Financial Structuring Group, Middle Office

    Feb 2007 - Apr 2009

  • Senior Analyst Equity Derivatives Middle Office

    May 2005 - Feb 2007
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  UPM-Kymmene Oyj

  Oct 2010 - Aug 2015

  I was responsible for performing full and comprehensive risk assessment for new and existing customers, processing insurance and internal limit applications in compliance with UPM and Credit Insurance guidelines and policies, managing credit blocked orders in close co-operation with Sales and other related departments, monitoring and controlling customer accounts, AR(Accounts Receivables), overdue invoice collection, communication with Sales regarding credit limits and customer payment behaviour, incoming cashflow forecasting, reporting (management, Insurance and internal), proactive collection, Dunning Letters, bad debt handling(provisions- credit losses), following up repayment plans, bankruptcies, debt restructurings and interest invoicing and customer master data maintenance. Show less In this management position I was responsible for UPM Group’s Credit Risk Management, credit insurance, credit risk portfolio steering, credit risk management strategy and development. This included the following :- monthly management reporting on receivables for group and business areas, support in managing the trade credit insurance and brokerage, being a communication and co-ordination contact for trade credit insurers and brokers, verification of internal credit limits exceeding 1m€, customer visits with internal and/or external stakeholders, support in managing escalated bad debt handling (escalated collection, payment plans, legal collection, credit insurance claims), participating in credit risk management model development and analytics, contributing to building, shaping and developing a motivated and talented credit risk management team, delivering analytics to the highest levels of expectation, influencing change by working with cross-functional stakeholders, driving value by participating in development of innovative modelling and analytical solutions which improve credit risk management, further ensuring the implementation and appropriate use of models in managing credit risk(for example, improved acceptance rate, reduced bad debt rates, improved risk adjusted returns), participating in development and evolution of CRM modelling standards and validation frameworks across the business lines, ensuring that credit, collection and customer management processes follow the policies and rules approved by management and that internal controls are effective, development and enhancement of CRM best practices by ensuring portfolio risk and quality profiles are in accordance with the business and management rules, proposing risk reduction initiatives where necessary, fulfilling all necessary reporting requirements both internally and externally. Finally projects in relation to the above. Show less This role required full and comprehensive risk assessment and collection duties. I had responsibilityfor performing customer risk assessment for both existing and new customers, processing insuranceand internal limit applications in compliance with UPM and Credit Insurance guidelines and policies.Managing credit blocked orders in co-operation with Sales and other related departments, monitoringand controlling customer accounts, overdue invoice collection, communication with Sales regardingcredit limits and customer payment behaviour, incoming cashflow forecasting, reporting (Management,Insurance and internal), monitoring customer receivables, proactive collection, collection of overduereceivables and dunning letters, bad debt handling(provisions- credit losses), following up repaymentplans, bankruptcies, debt restructurings and interest invoicing. Show less

  • Order to Cash, Specialist

    May 2015 - Aug 2015

  • Manager, Group Credit Risk Management

    Aug 2013 - May 2015

  • Specialist, Risk Assessment, Credit Risk Management, Europe

    Oct 2010 - Aug 2013
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  Basware Oyj

  Sept 2015 - Nov 2021

  This management position in addition to the credit controller responsibilities (already listed below) included the added responsibility for sales invoicing and order management. I was a key contributor in establishing a Financial Shared Services Centre in Romania and transforming the related activities there. As a process owner I provided effective governance for the quote to cash process to all supported business areas. I led and supported the team focusing on delivering quality service to customers and stakeholders and I defined functional requirements for key enabling financial systems to ensure that solutions and controls for the end to end process were adequately designed and implemented to achieve automation and efficiency. I actively partnered with business leaders, product management and sales taking action to ensure policies were effectively communicated and understood across functions. I established reporting and performance metrics to monitor KPI’s, process quality and support innovation. I was also actively involved with internal controls, continuous process improvements and projects related to the above. Additionally, I participated in several special M&A, integration and divestment projects. Show less This was a completely new position that hadn’t existed at Basware before. My initial task was to set up and lead a credit control team that would be part of the Quote to Cash department. Credit risk management and accounts receivable management were the focus points with all related tasks, processes and ownership being in one team for the first time. I was responsible for developing and implementing new related procedures and policies. This enabled an increased focus on risk assessment, accounts receivables (by monitoring the aged debt position), redefining and clarifying ways of working as well as ensuring we had scalable global processes in place. Timely and accurate reporting, cash flow forecasting, proactive collection, Dunning, bad debt handling (provisions- credit losses) were also part of my accountabilities. Working in close co-operation with Customers, Treasury, Sales, Business Control, Senior Management, other stakeholders and an external service provider for debt collection on a regular basis was also required. Show less

  • Senior Manager, Quote to Cash

    Apr 2016 - Nov 2021

  • Credit Controller

    Sept 2015 - Apr 2016
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  Wärtsilä

  Jun 2022 - Apr 2024

  Credit Controller

  Credit risk management and collection management are the focus points with all credit related tasks, processes and ownership being my responsibility. I perform customer risk assessment/reviews for both new and existing customers ensuring credit limit and payment term decisions are in compliance with Wärtsilä’s global procedures and policies. I manage credit blocked orders, overdue invoice collection, communication with Sales regarding credit limits and customer payment behaviour, incoming cashflow forecasting, reporting, monitoring customer receivables, proactive collection, collection of overdue receivables and dunning letters, bad debt handling(provisions- credit losses), following up repayment plans, bankruptcies, debt restructurings and interest invoicing.I have also been responsible for developing and implementing new procedures and policies whilst improving the existing ones. This has enabled an increased focus on our risk assessment and accounts receivables helping to reduce the aged debt position and redefining and clarifying ways of working as well as ensuring we have scalable global processes in place. This has been achieved by working in close co-operation with Customers, Treasury, Sales, Business Control, Senior Management, other internal stakeholders and external service providers on a regular basis. Additionally, I have established reporting and performance metrics to monitor KPI’s, process quality and support innovation as well as being actively involved with internal controls, continuous process improvements and projects related to the above. Furthermore, I have been a key contributor and participant from a Credit Control perspective in preparation for the upcoming divestiture(carve out) of the Water & Waste business from Wärtsilä. Show less

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  Fortum

  Apr 2024 - now

  Senior Manager, Order-to-Cash Development at Fortum Oyj