Hey guys, I passed CFA Level 3 this year, I will have 48 months of work experience next Thursday. I am planning to post the description below and request membership upgrade. Could you please provide me with your feedback/advice before posting it on the CFAI website? Your help is highly appreciated! Thanks a lot! M. ************************ July 2009- Present BNP Paribas Arbitrage, Paris Project Manager on STP Securities Project. • I specified and coordinated the implementation of an STP (Straight Through Processing) setup for: - Over the counter deals. This consisted in allowing only validated deals on middle office level to be fed to back office tools. This helped decrease the number of breaks between the back office teams and custodians and decreased the work load previously needed by back office teams for breaks investigations. - Corporate actions management that allowed reduce middle office and back office breaks related to corporate actions by impacting each corporate action starting the Ex date on both Middle and Back office levels. Previously, each corporate action was accounted for on the Ex date on the Middle Office level and on the payment date on the Back Office level causing Middle/Back breaks between the ex and value dates. • I was in charge of the budget allocation exercise and steering committees organization aimed to provide high management with an update regarding the project progress as well as approve strategic decisions… In this role, I have been dealing with stocks, convertible bonds and rights as instruments. Business Analyst on Equity Swaps implementation within an in house booking tool • I have been taking part of Equity Swaps phasing out from Murex system by: Gathering the business requirements with users front to back then interviewing about 20 IT teams in order to define the target setup. Providing the detailed functional specifications. In such specifications, I described: - the different steps of equity swaps booking within the new tool. - The new model used for equity swaps pricing. - The different information that should be notified to Front Office tools, required to keep traders “greeks” up to date in real time. - The data that should be sent to back office for confirmation, payment and settlements. - The required information for equity swaps valuations (fixing (equity “prices”) retrieval, formulae/rules to be applied, valuation/payment schedules computation…). In this role, I have been dealing with equity swaps as instrument involving stocks, indexes and market interest rates (LIBOR, EURIBOR…). IT-Middle Office worldwide coordinator in charge of smoothing IT-MO communication. • I am ensuring the coordination between middle office and IT teams in Paris, London, New York and Hong Kong sites by organizing bi-weekly meetings in order to discuss the different topics in progress as well as encountered issue. • I am in charge of releasing the minutes following each meeting along with the highlights and the action plans for each outstanding issues. This “news letter” is communicated to the different teams worldwide in order to provide them with an overview of the progress on the different sites. In this role, I have been dealing with stocks, bonds and derivatives as instruments. August 2008- June 2009 BNP Paribas Arbitrage, Paris Business Analyst in charge of conceiving an Allocation tool intended for US Stock Lending and Borrowing users Front to Back aimed to cover clients’ short positions and report related PnL (Profit & Loss). • I was responsible of gathering business requirements, specifying and testing the solution: - I specified an allocation tool providing traders with short positions to be covered as well as long positions that can be lent out for the international stock lending & borrowing activity for the US desk of BNP Paribas Arbitrage. - I specified the PnL (Profit & Loss) reports displaying the PnL resulting from the different trades performed within the allocation process. These reports were populated relying on formulae using the rates, quantities and securities’ prices involved. - I defined an algorithm for short positions coverage, relying on a set of priorities assigned to each account to be covered. Traders assign a priority to each account (book), according to the specificities of the stocks traded inside (volatility, liquidity…), such a parameter is then considered within the allocation process. - I set up a screen (GUI) allowing traders to define the rate(s) to be used for each stock (Volume Weighted Average rate, flat rate…). • I ensured the issues follow up after the Go Live (investigations on PnL figures in case of issues…). In this role, I dealt with stocks and bonds as instruments. April 2007- July 2008 BNP Paribas Securities Services, Paris Business Analyst in charge of communicating traders’ expectations to IT teams. I was responsible of suggesting new enhancements to users and gathering their business requirements. I defined the solutions and provided that functional specifications for the functionalities below: - Integration of BNP Paribas’ counterparties long positions into BNP Paribas database. Such positions were then used by traders to cover their short positions and to be lent out in case of “advantageous” rates. In order to figure out whether the rates were “advantageous”, I specified a screen (GUI) providing traders with the different market rates (median, mean, maximum & minimum over a defined period of time). I specified and tested: - A new module that was developed internally, intended to book borrow, lend, borrow return and lend recall trades. Such a feature allowed trades to avoid using several tools for positions consultation and trade input, both actions were made possible in one single internal tool. - A new feed for currency exchange rates, used to integrate spot rates into an internal stock lending tool. This helped traders have the latest exchange rate displayed on their screens without having to use other market data providers. • I was the coordinator of users’ acceptance tests with traders in Paris, London, Milan and Frankfurt • I released a user guide aimed to offer an overview of the different tool’s features. This was communicated to the different traders in order to explain the different functionalities offered by the tool. • I conducted several peer reviews on functional specifications provided by other Business Analysts of the team. In this role, I dealt with stocks and bonds as instruments. October 2006- March 07 BNP Paribas Securities Services, Paris Developer Analyst on two systems: a collateral management tool intended for account managers and a Lending & Borrowing tool for traders’ use. For the Collateral Management tool, I developed a module that allowed: - Margin calls calculations related to collateral. - “Accepted” securities within the collateral pool relying on the eligibility criteria (bond ratings, sectors, firm profitability…). For the Stock Lending tool, I developed: - A process feeding long positions (that can be lent out) in external stock lending platforms - Screens allowing traders to view short positions in order to book borrows aimed to cover them. In both roles, I was author of the technical specifications as well as the developments and testing of such features. I dealt with stocks and bonds as instruments.
I was rejected first tiem around, then 2nd atempt after reviewing peoples posts here the following worked. Break down your experience by : Investment Related Activities - ( Provide % ) Admin Servicing Other etc…
IH8FSA Wrote: ------------------------------------------------------- > I was rejected first tiem around, then 2nd atempt > after reviewing peoples posts here the following > worked. > > Break down your experience by : > > Investment Related Activities - ( Provide % ) > Admin > Servicing > Other etc… thanks for your reply! How do you find the content I posted above? Do yoy think I provided enough details and showed that this contributed to the investment decision process? Thanks! M.
Please remember the 1500 character limit. You look like you are three times over the limit in the above (just glancing thro’ it). If you need all of this entered - you might want to communicate with the CFAI support desk up front to determine how you would enter it.
- You need to cut out at least half the wording, way too long. One of my experiences that was approved was only 5 sentences. Dont treat this as a resume being sent to a hiring contact. Treat this as someone who will compare each point to the Level 3 LOS.
That’s a long list considering you only have experience from Oct 2006.
thanks guys for your feedbacks, I will cut some stuff to make it shorter, but what do you think of the content? do you find it appropriate to have to get my working experience approved? thanks a lot! M.
you need to show how you are involved in the investment decision making process. Looks like you aren’t. It’ll get rejected. Match your work with a specific LOS.
CardShark Wrote: ------------------------------------------------------- > you need to show how you are involved in the > investment decision making process. Looks like > you aren’t. It’ll get rejected. Match your work > with a specific LOS. thanks for your reply! can you please help me how I can relate any of my roles with the investment decision process by relating it to an LOS? Thanks & sorry for bothering M.
CardShark Wrote: ------------------------------------------------------- > you need to show how you are involved in the > investment decision making process. Looks like > you aren’t. It’ll get rejected. Match your work > with a specific LOS. Hello CardShark, Is providing traders and middle/back officers with tools helping them to decide whether to trade or not and others with (borrow/lend rates, exchange rates, short positions to be covered, long positions to be lent out, pricing, valuations, fixings, fixing/payments schedules, key details for corporate actions (ex dates, rfactors, payment dates…), pnl analysis, collateral margin calls, securities eligibility relying on bond sectors, ratings…) not part of the investment decision process? Thanks a lot for your reply! M.
malek_bg Wrote: ------------------------------------------------------- > CardShark Wrote: > -------------------------------------------------- > ----- > > you need to show how you are involved in the > > investment decision making process. Looks like > > you aren’t. It’ll get rejected. Match your > work > > with a specific LOS. > > > Hello CardShark, > > Is providing traders and middle/back officers with > tools helping them to decide whether to trade or > not and others with (borrow/lend rates, exchange > rates, short positions to be covered, long > positions to be lent out, pricing, valuations, > fixings, fixing/payments schedules, key details > for corporate actions (ex dates, rfactors, payment > dates…), pnl analysis, collateral margin calls, > securities eligibility relying on bond sectors, > ratings…) not part of the investment decision > process? > > Thanks a lot for your reply! > M. HELP PLEASE tHANKS
Sorry for being pushy, but I would need your help so that UI submit my work experience Thanks! M. malek_bg Wrote: ------------------------------------------------------- > CardShark Wrote: > -------------------------------------------------- > ----- > > you need to show how you are involved in the > > investment decision making process. Looks like > > you aren’t. It’ll get rejected. Match your > work > > with a specific LOS. > > > Hello CardShark, > > Is providing traders and middle/back officers with > tools helping them to decide whether to trade or > not and others with (borrow/lend rates, exchange > rates, short positions to be covered, long > positions to be lent out, pricing, valuations, > fixings, fixing/payments schedules, key details > for corporate actions (ex dates, rfactors, payment > dates…), pnl analysis, collateral margin calls, > securities eligibility relying on bond sectors, > ratings…) not part of the investment decision > process? > > Thanks a lot for your reply! > M.
Hey guys, I have just posted my working experience by making it shorter. Your advice is welcome before submitting it to CFAI please ****** July 09 >> Now Business Analyst and Project Manager for Equity Swaps implementation within an in house booking tool with an STP (Straight Through Processing) setup to reduce operation risks. I helped define the target setup and provided the detailed functional specifications, where, I described the steps of equity swaps booking within this tool, the new model used for equity swaps pricing, the information that should be notified to Front Office tools, required to keep traders greeks up to date in real time, the data that should be sent to back office for confirmation, payment and settlements, the required information for equity swaps valuations (fixing retrieval, rules to be applied, payment schedules computation). In addition to Equity Swaps, I specified and coordinated the implementation of an STP setup for Over the counter deals and Corporate Actions Management. This was intended to reduce operational risks and make middle and back offices work more efficient by allowing only validated deals on middle office level to be fed to back office tools. This helped decrease the number of breaks between the back office teams and custodians and decreased the work load previously needed by back office teams for breaks investigations. I was in charge of the budget allocation exercise and steering committees organization aimed to help high management approve strategic decisions. In this role, I have been dealing with derivatives involving stocks, market interest rates (LIBOR, EURIBOR…). Aug 08 >> July 09 Business Analyst in charge of conceiving an Allocation tool intended for US Stock Lending and Borrowing users Front to Back aimed to cover clients short positions and report related PnL (Profit and Loss). I was responsible for specifying the solution aimed to help traders in the investment decision process as well as providing Middle and Back Offices with appropriate tools to control Front Office activity. I specified an allocation tool providing traders with short positions to be covered as well as long positions that can be lent out for the international stock lending & borrowing activity for the US desk. I specified the PnL (Profit and Loss) reports displaying the PnL resulting from the different trades performed within the allocation process. These reports were populated relying on formulae using the rates, quantities and securities prices involved. I defined an algorithm for short positions coverage, relying on a set of priorities assigned to each account to be covered. Traders assign a priority to each account (book), according to the specificities of the stocks traded inside (volatility, liquidity). I set up a screen allowing traders to define the rate(s) to be used for each stock (Volume Weighted Average Rate, flat rate). I ensured the investigations and analysis on PnL figures in case of issues. In this role, I dealt with stocks and bonds as instruments and focused on securities lending activity. Oct 06 >> July 08 I was responsible for providing new enhancements to traders in order to help them in the investment decision process. I analyzed and specified the solutions for the features below: Integration of counterparties long positions into BNP Paribas database. Such positions were then used by traders to cover their short positions and to be lent out in case of advantageous rates. This allowed decrease the risk of paying fees because of being short and allowed earn interest on long stocks that were lent out. I specified a screen providing traders with the different market rates (median, mean, maximum and minimum) to help them assign the best rate. A new module intended to book borrow and lend trades. This signifcantly decreased the operational risks due to double booking. This also reduced the number of misbookings fixed by Middle Office. A new feed for currency exchange rates, used to integrate spot rates into the stock lending tool. This helped traders have the latest exchange rate displayed on their screens without having to use other market data providers. I also worked on a collateral management tool intended for account managers. I specified and developed a module used for: Margin calls calculations related to collateral to reduce risks of being under-collateralized. Accepted securities within the collateral pool relying on the eligibility criteria (bond ratings, sectors). I dealt with stocks and bonds as instruments and the activity was securities lending.
malek Please realize you have a 1500 character limit… (unless you plan to send this to CFAI support staff to add on to the ticket). so reduce much further… not more than 10 sentences (max) and do a character check in Word to make sure.
cpk123 Wrote: ------------------------------------------------------- > malek > > Please realize you have a 1500 character limit… > (unless you plan to send this to CFAI support > staff to add on to the ticket). > > so reduce much further… not more than 10 > sentences (max) and do a character check in Word > to make sure. hey CP, thanks for your reply, I successeed in posting them within the CFAI site, each role does not exceed 1500 char I would like to have your opinion, advice regarding the content. Everybody is keeping telling me that I should relate to LOS, but I don t know how to do it :((
rather than try to get everyone else on the forum to check on your work exp and give their comments, which is going to be difficult, post it. have your sponsors give the go-ahead for CFAI to check on your work exp. and see what happens. You might find everything is fine, at the end of it all. otherwise - on the pieces that are not ok- you can rework the job descriptions, on an as-needed basis.
malek_bg Wrote: ------------------------------------------------------- > > > I would like to have your opinion, advice > regarding the content. Everybody is keeping > telling me that I should relate to LOS, but I don > t know how to do it :(( C’mon. It can’t be THAT hard. Example: LOS: The candidate must be able to distinguish whether Italian Dressing and Ranch Dressing is used when analyzing salads for client meals. Work Experience: I analyze salads to determine whether the dressing used is Italian or Ranch. Upon reviewing the suitability of the dressing, I make recommendations for the client’s meal.
CardShark Wrote: ------------------------------------------------------- > malek_bg Wrote: > -------------------------------------------------- > ----- > > > > > > I would like to have your opinion, advice > > regarding the content. Everybody is keeping > > telling me that I should relate to LOS, but I > don > > t know how to do it :(( > > > C’mon. It can’t be THAT hard. > > Example: > > LOS: The candidate must be able to distinguish > whether Italian Dressing and Ranch Dressing is > used when analyzing salads for client meals. > > > Work Experience: I analyze salads to determine > whether the dressing used is Italian or Ranch. > Upon reviewing the suitability of the dressing, I > make recommendations for the client’s meal. +1
wow…that takes a lot of explaining. i submitted like 3-4 sentences on my experience as a Wealth Manager/Financial Advisor and was accepted for all years
SkipE99 Wrote: ------------------------------------------------------- > wow…that takes a lot of explaining. i submitted > like 3-4 sentences on my experience as a Wealth > Manager/Financial Advisor and was accepted for all > years hello SkipE99, How do you find the explaining, wording? is it clear enough? or do you suggest more details? thanks! M.