HERBERT S. FOX
Senior Consultant
Herbert S. Fox is Senior Consultant with Bekker Compliance Consulting Partners, LLC (BCCP) and, under written contract with BCCP, provides regulatory compliance consulting services to BCCP's financial services clientele.
PROFESSIONAL HIGHLIGHTS
Senior Global Investment Management Technology Manager with subject matter expertise and leadership in investment management systems and client relationship building. Vision toward strategic global industry excellence, business expansion, acquisitions and operational efficiencies. Effective team development and meeting facilitation, demonstrating motivational energy, consensus building and communication among staff and all levels of management. Excellent interpersonal skills while facilitating strategic planning, contract negotiations, program management, systems implementation and cross-functional collaboration.
Demonstrated Expertise
Business and Systems Analysis, Development and Deployment;
Program and Project Management;
Vendor Management;
Research, Portfolio and Wealth Management, Trading;
Risk Management and Analytics;
Compliance Management;
Budgeting and Cost Management;
Team Building, Leadership and Talent Management;
Communications and Public Speaking.
CORE COMPETENCIES
Demonstrated success working productively with budgets exceeding $20 million and consistently delivering cost reductions;
Strong motivational manager of large in-house technical staffing teams, external consultants and third-party vendors including off-shored resources;
Excellent communication and client relationship building skills among executive management, global offices and end-users with a focus on client service;
Astute capability to resolve issues, restore clarity and maintain focus;
Strategic development and implementation of corporate technology initiatives with delivery predictability;
Highly skilled hands-on technical manager proficient in UNIX, SQL, PERL, VB and .NET.;
Accomplished, detail oriented, accustomed to broad accountability in all areas of software lifecycle methodologies (SDLC), governance committees, audit, risk management and technology infrastructures for vendor and in-house development of research, portfolio, trading, and execution management systems;
Commitment to excellence, integrity, quality assurance with a focus on compliance mandates and operational risk with proficiency in the USA Patriot Act, Sarbanes Oxley, Basel II and FSA assessments.
WORK EXPERIENCE
Alliance Bernstein (formerly Alliance Capital Management): Year (1998 2008) &
Vice President, Production Support Manager - Global Equity Investment Technology : Year (2006 2008)
Planned, structured and delivered an Application Support Framework and team that provided world-class global production support (Level-1) with Service Level Agreements for portfolio managers and trading desks;
Maintained a 99.9% system availability and production service level across all equity investment systems;
Managed production software and hardware releases into production and DR environments with validation;
Advised senior management on overall control status and developed metrics for capturing, reporting and analyzing operational losses, performed root cause analysis and recommended corrective action;
Managed and assisted in reviews by internal / external auditors, regulators, compliance examiners and quality assurance teams;
Developed order processing and account allocation requirements for an allocation algorithm engine;
Produced Rules of Engagement test cases for FIX Certification with brokers and other sources of liquidity;
Managed and participated in the FIX Certification of the global trading desks for all destinations;
Delivered FIX Connectivity to brokers, algos, e.g. ITG, Bloomberg, LiquidNet, LAVA, etc.;
Improved buy-side trading execution time (Alpha) by integrating analytics with alternate sources of liquidity via the FIX protocol and high speed network services;
Supported a wide range of products that included Cash Equity, Futures, Options, Swaps and Derivatives;
Produced the data analysis and requirements for trade execution analysis by Abel Noser and ITG Plexus.
Vice President, Project Manager - Global Equity Investment Technology : Year (1998 2006)
Participated in marketing and due-diligence requests with cost analysis and intra-day trade reporting for new and potential external clients that yielded over $30 billion in new assets under management;
Managed a technology budget exceeding $18 million and 21 staff consisting of developers, business analysts and application support resources;
Delivered cost reductions exceeding $1.8 million through server consolidation, application convergence, off shoring, contract and license re-negotiations;
Provided business client service within the equity investing growth, value, blend, private client, wrap and wealth management strategic business units;
Developed and implemented a best practices equity investment business model integrating the Portware Execution Management System (EMS) and Longview Order Management and Trading System (OMS), a vendor product for Global Portfolio Management with in-house developed Research and Optimization;
Integrated Barra, rKIM, Wilshire Atlas, AutoMatch, Oasys, Lava Trading, TradeBook and LiquidNet vendor products into the equity investment management core products;
Managed each project against it? baseline and workstream while identifying and escalating project issues for resolution and assessing risk;
Produced state processes that resulted in transition plans for the customization and convergence of in-house Equity Research and Portfolio Optimization Systems;
Developed commission analysis and reporting, e.g. target vs. actual, client directed, broker of credit, etc. ;
Analyzed and integrated Risk Management market risk analytics using ?AR calculation models with stress testing and reporting.
Developed Risk Assessment program and deployed across the equity investment management businesses;
Analyzed, built and deployed a compliance database that consisted of essential data elements for data capture, reporting and analysis of credit, market and operational risk and mitigated perceived risks through business processes;
Improved pre-trade compliance checking by performing the transaction state analysis necessary to integrate Sentinel, a vendor product, into the order management workflow;
Managed business client service within the equity research, portfolio management and trading divisions, facilitating weekly project status meetings within each of these strategic business units and reporting status to management;
Developed and maintained application documentation for reference on SharePoint and Docushare repository.
J. P. Morgan Chase: Year (1997 - 1998)
Senior Financial Systems Project Management Consultant
Managed the development of a new Foreign Exchange Options Trading System, FXusion, to replace an existing FXO system and ensured business continuity;
Developed a three-tier client/server application that sits on a Java client running as a standalone Java application on either a Solaris or NT 4.0 platform. The middle tier is a ? application that serves as the caching mechanism, the gateway to the database server, and performs analytic calculations. The third tier is a Sybase database server and a set of loaders that manage external inputs into the database. The Java client also communicates directly to the Sybase database server when it needs to display static information such as a holiday table, which does not involve any analytic analysis
Daiwa Securities of America : Year (1996 - 1997)Senior Systems Analyst, Capital Market Systems
Designed and developed a middle office architecture with data warehouse to include security, customer, pricing, position and transaction data for trade and credit risk management, compliance and MIS reporting, OLAP and time series analytics. The event-driven transactional states were normalized through the use of adapters communicating asynchronously via a ?ublish and subscribe message layer where specific events are triggered by application engines for processing through an information broker;
Developed a Japanese Equity Basket Trading System and Equity Allocation System. The real-time processing system enabled domestic institutions to transmit basket order files of Japanese securities to be filled versus a firm trading account, or routed to Japan for execution on the primary exchange;
Developed a Domestic Equity Trading System to perform all order management, interfaces and regulatory reporting. The system converts ccmail, fax and telex orders received globally into formatted order files and delivered to Davidge Data? HPNS Message Switch for execution on the domestic exchanges.
Merrill Lynch: Year (1995 - 1996)
Project Management Consultant - Corporate Institutional Client Group, Capital Market Systems
Managed the development of an enterprise-wide data warehouse for all internal and external client and counterparty information to accommodate business and processing requirements. System featured a complete view of client and counterparty profiles, roles, and relationships including hierarchies;
Streamlined the Business Account process by improving efficiency, eliminating redundancy and replacing manual processing with automated processes;
Utilized business transformation processes to deliver a higher level of service to the Firm? clients while improving risk, compliance, and management controls.
Lehman Brothers : Year (1993 - 1995)
First Vice President, Client Manager of Capital Market Systems
Successfully directed the conversion from Smith Barney? Broker Dealer Systems to Bear Stearns. Integrated the International and Domestic Sales and Trading Systems into the new environment;
Analyzed and developed bridgebacks from Firm? international trading system to Bear Stearns for London, Tokyo, and Hong Kong offices; to and from Bear Stearns to support Listed, OTC, and Derivative Systems and retail customer activity to firm? Portfolio Management Systems, including the proprietary vendor product Advent;
Documented new policies and procedures for intercompany, clearing, and FX processing;
Managed business systems analysis and development of front-end trading systems and provided support of portfolio management systems used by Prime Broker and Retail Business units;
Systems included Ammen, providing OTC and Options trading with order management capabilities; Trade Master / Trader Dot / Program Trader, providing Portfolio and Risk Arbitrage functionality; Swaps and Derivatives Products System, providing financing support for a variety of products, including Equity and Fixed;
Income Derivatives, FRAs, Bond Indices, Libor Reset Options and Differentials; Municipal Hybrids; and Float Forward / Debt Reserve Deals.
EDUCATION & AFFILIATIONS
BS / BCIS - Hofstra University, New York.
AAS / DP - State University of New York at Farmingdale.
Council Member FIX Americas, Thomson Financial (Reuters)
Memberships - Association of Systems Management, Project Management Institute (PMI)
Speaking Engagements and Panel Discussions: Linedata Services Client Conference
TECHNOLOGY SKILLS
Business Process Modeling - BPwin and Visio; Data Modeling - ADW, Erwin, S-Designer; Object Modeling using Paradigm Plus; Citrix Terminal Server and Web IIS Server with distributive network protocols and the Internet; Object-Oriented coding in HTML, .NET, C/C++, JAVA, PERL, Visual Basic, Powerbuilder, SQL; Sybase, SQL Server, DBArtisan and Cognos. Superb Microsoft Office Suite skills: PowerPoint, Excel, and Project.