Forum OpenACS Q&A: job: Hedge Fund operations automation
I don't really know what exact arrangements they'd want to make for hiring, but my guess is a several month consulting gig, with the possibility for additional follow on work based on how much they like working with you, how much room for additional improvement you uncover, etc.
More detail is below. If you or anyone else you know would be a good fit for this, please contact me! Send a resume (or a link to an online resume) to me, I'll forward it to the appropriate people, then they'll get in touch with you. Thanks!
Also, some of you may have seen or responded to this before in other forums (the ex-aD email list, etc.) If so, don't worry, no one forgot about you, it's just that some of the people doing the actual interviewing and such were out of town, and now that they're back things should be moving along shortly.
The players involved here are:
- A small R&D/Modeling group, based in Boston, responsible for both development and production deployment of financial models. They're programmers, using Unix, Oracle, R/S-Plus, OpenACS, Tcl, C, etc.
- A larger Operations group, based at company headquartes in Manhattan, responsible for all front and back office operations, trading, etc. Sharp group of people, but they're all business, finance, or trading types, NOT engineers or programmers.
You would be working directly with the Operations folks in New York. The Operations group is asking the R&D group to help evaluate and pick you for the job, and also to help define the initial projects and make sure things get off to a smooth start.
The right person for this job should:
- Probably be local to New York City - strongly preferred, at least.
- Be able to figure out and articulate the big picture, as well as implement the individual pieces to make it happen.
- Be entirely self-starting, talk to operations staff to figure out business processes, build systems to improve and automate those processes, sell the business users on your new tools and smoothly integrate them into daily Operations without breaking anything.
- Have a strong database background (much like any good OpenACS developer...).
- Be familiar with various tools in Windows as well as Unix world. Rapidly find, evaluate, and learn new tools.
- Start from a clean conceptual slate and build systems using or integrating with the most effective tool-sets for target audiences. (E.g., end-user tools will certainly include, but should not necessarily be limited too, MS Excel.)
- Be effective at teaching business folks how to use the new stuff you build, not just building it.
Initially, you would probably be working on:
Refactor many Excel spreadsheets critical to daily operations, to
improve maintainability, link in external data sources, eliminate
redundancy and copy-and-paste operations, reduce errors, etc.
Note: The only tool most of the Operations folks are currently familiar with is Excel, so while there are other data sources and tools in the picture - e.g., automatic data feeds from brokers going into an Axys database, broker web pages daily scraped manually for data, data fed from the R&D group's web site - the operations "glue" language is currently Excel, exclusively or nearly so. Part of your job is to determine if, when, and how this should be changed.
- Enhance existing Axys database used for incoming back-office trade data. Add additional data sources currently handled manually, improve reports as needed, etc. http://www.advent.com/products/axys/index.asp
- Revamp and automate data collection and workflow for reconciliation of incoming error-filled broker data. Sit down with business experts to learn how current manual process flags and fixes questionable data. Write program to automatically flag such questionable data. Write program to automatically scrape daily account data from broker web sites, and compare/reconcile against other data feeds. Etc.
- Anything else you identify as a good candiate for automation and improvement.
Down the road, further work might include (this is speculative on my part):
- Act as technical liason person between Operations and R&D/Modeling groups. Figure out what improvements Operations needs from R&D. Improve systems to feed back data from Operations into R&D systems. Etc.
- Act as internal technical Guru and education resource on any and all topics. E.g., answer Excel questions, how to get data out of Bloomberg, possibly introduce R statistical programming environment to anyone wanting an analysis tool more powerful than Excel, etc.
- More advanced automation of operations Workflow. Possibly build Intranet using OpenACS, etc.
- Automated trade execution via external systems.
- Data collection for use by traders and/or analysts from R&D group sources, from external data feeds, or etc.
SUMMARY OF QUALIFICATIONS
Series 7, 24 and 63
Diverse professional development, including strategic planning, budgeting and forecasting, financial analysis, and business profitability reporting
Committed team player, with proven ability to meet and exceed set goals and deadlines
Exceptional focus and follow through abilities, with record of efficiency and productivity
Detail-oriented multi-tasker, with exemplary organization and project management skills
Adept at training and managing employees across numerous divisions in several key areas
MONY Securities Corporation, New York, NY 06/2003 - Present
Director of Operations
Provide leadership in the analysis of work flows and the development of projects designed to improve processes for trading, cashiering, new accounts, transfer of assets, compliance and the service desk
Participate in monthly senior management business reviews identifying business opportunities
Converted approximately $170MM in money market funds to MONY’s Enterprise Proprietary Sweep Fund
Provide coaching and professional development to staff of four direct reports
Direct IT resources for improvement and troubleshooting of proprietary brokerage systems
Listen and resolve Financial Advisor’s complaints
Collaborate with Home Office Leadership in the areas of training, process improvement, and compliance to capitalize on quality opportunities
Manager, Fee Based Accounts 06/2003 - Present
Created a strategic partnership with an outside Registered Investment Advisor to assist in providing financial professionals with state of the art technology that will allow them to build their fee based business.
Effectively planned, developed, organized and implemented new fee based brokerage accounts consisting of advisory products and fee in lieu of commissions offerings
Directed start-up operations with overall responsibility for the management of day-to-day activities of all new fee based product
Managed all aspects of the recruitment process. Facilitated training and orientation process for new personnel
Special projects and requests from various Portfolio Managers, Outside Auditors, Legal & Marketing
Trusted Securities Advisors Corp, Minneapolis, MN 11/2001 - 05/2003
Relocated back office operations from Minneapolis MN to NY, consisting of 5 departments and a staff of 12 employees
Restructured Trusted Advisors as a Broker Dealer aligning business processing between two broker dealers that led to decreased expenses and increased efficiencies
Subsequently closed Trusted Securities Advisors Corp. as a broker dealer and folded them into MONY Securities Corporation
Implemented Monarch reporting , a report delivery system aimed at increasing communication with agents and decreasing operating expenses
Operations Specialist 04/2000 - 10/2001
Interchanged within all operations departments to understand business flows, processing standards and requirements
Worked with all departments in reorganizing, restructuring and streamlining of daily procedures that led to increased productivity
Acted as a liaison between money managers, operations and trading to ensure transactions are booked and settled in a timely fashion
Worked extensively with clearing agent on the development and functionality of an internet based platform, designed for financial planners and registered representatives
UBS Warburg, Stamford, CT 06/1997 - 03/2000
Interfaced with bank and in-house trading departments ensuring proper trade booking and settlement
Automated the fail control processes for all equity and fixed income trades, reporting to traders trade support and management the risks of all open transactions, using the Monarch reporting tool
Assisted in the design and implementation of a global fail control computer system.
Monitored the activity of 50 accounts in the areas of trade settlement, NASD regulations, and customer inquiries
Produced and monitored the daily firm balance to departments and management globally
Ryan J. Fitzgerald
Manhattan College, Riverdale, New York
Bachelor of Science in Business Administration
SKILLS and SEMINARS
Proficient in Microsoft Office, ADP, DTC, FBSI and Monarch
Harvard University, Boston MA