Panache professionals have performed or assisted in both project management efforts and system conversions for many major financial institutions. These areas of our experience have included trust operations, capital markets, product clearance, fixed income and equity derivatives, credit derivatives and hedge funds. Panache has provided expertise ranging from assisting with the project management of and conversion to developing system specifications for upgrades, enhancements and new products.

Project Management

Project Management and Implementation of Summit in New York, London, Frankfurt, Tokyo and Australia

· Provided a comprehensive Project Plan containing detailed work flow analysis that defined user roles and responsibilities in all above stated regions

· Performed UAT and parallel testing for swap and option products and prepared results

· Assisted in the testing and analytical evaluation of the risk management and P&L attribution reporting

· The project plan was implemented through charts, memos and reconciliation reports and communicated to management

· Skilled on all user aspects of the Summit System including trade capture, trade maintenance, reporting, analytics, market data, hedge products and customer functionality

· Experienced in Excel, Lotus, Access, DEVON, CATS and basic SQL commands

Re-engineering of and migration from various in-house platforms and spreadsheets to Summit

· Developed specifications for daily flash (P/L and risk reporting)

· Developed procedures for exception type deal reporting

· Completed cash reconciliation and developed automated reconciliation tools

· Authored AAA subsidiary's operations procedure manual

· Authored Summit user's guide for Lehman Brothers

Project Management and conversion of all customer holdings from existing global system to new trading and custody system (SECOR)

· Developed, project-managed and implemented interface between Devon derivatives system and SWIFT for automated payments processing

· Assisted in upgrade/conversion from Devon 2.34C to Devon 2.34D Sybase

· Assisted in the testing and implementation of a On-line Deal ticket system, ADONIS

· Reconciled over 2000 balance sheet and P/L accounts and proposed entries to resolve differences

· Analyzed work flows and assisted client in reorganizing support areas

Systems Conversions and Implementation

Converted from spreadsheets for EOS
(Derivatives System)

· Entered new trade date and counterparty data into a spreadsheet database and EOS

· Maintained data in both systems

· Reconciled all financial data between the spreadsheet and EOS system

Converted from outsource to Total Return
(Hedge Fund System)

· Reconciled outsourced records to custodial records for cash and security positions

· Compared data download to Total Return with outsourced records

· Researched and corrected discrepancies

· Performed complete parallel testing for several months to endure NAV accuracy

Converted from SPARKS to CTS

· Provided full trade support team to recreate processing environment during parallel run

· Trained relevant personnel on the new system

· Assumed responsibility for resolutiion of daily differences for four month period after conversion

Converted from Sungard to NCS Series 7 VAX Trustware
(Trust System)

· Reconciled Sungard to custodial share and cash balances

· Investigated and corrected discrepancies between Sungard and the custodian banks

· Setup customer master file and security master file in the NCS system

· Input all trading activity into NCS daily and verified versus Sungard reports

· Managed complete parallel test of both systems, including a month-end closing

Converted from legacy system to NTAPS
(MBS Clearance System)

· Assisted in trade input to both systems and comparison of output

· Reviewed and corrected errors in the master files between the two systems

· Managed complete parallel test of both systems

Converted DOS based Total Return to UNIX-based Total Return
(Hedge Fund System)

· Compared functionality of UNIX-based system to DOS-based system

· Analyzed and corrected problems arising from merging multiple single currency accounts into a single multi-currency account

Conversion from OMARK to Swapval
(Derivatives System)

· Monitored and compared cashflows in both systems

· Advised management of "bugs" identified and monitored resolution