Graeme Stubbs

Graeme Stubbs

Summary

An experienced Manager within Operations, who is currently focusing on Operational Risk and Controls, who is a keen leader of change, with over 25 years in the Financial Markets, gained predominantly in Stock Broking and Investment Banking in the United Kingdom, but more latterly in Private Wealth Management in Auckland.

In the time spent within Private Wealth Management, I have been able to implement process changes based on my previous experiences. The use of depository accounts for both our Equity and Fixed Income businesses has been introduced, leading to a more simplified settlement process, whilst daily controls have been improved around the Corporate Action and Stock Reconciliation functions through greater use of external vendors, to provide more robust processes to reduce the operational risk.

During JBWere's migration from Goldman Sachs & Partners I succesfully implemented JBWere's own Trade Operator team which has become the central point for all the Company's global order flow. 

With much exposure to Equity, particularly Emerging Market, and Fixed Income securities, a very strong process control focus was developed enabling me to make significant changes in three business units which resulted in total savings in excess of USD 1.5mill, as well as reducing risk and improving the scalability of the Operations team.

Through working closely with internal and external clients alike, and the creation and development of stable business relationships, I was able to re-design a custody product offering to the extent, that over a three year period, income from the product exceeded USD 1 mill.

I am an Associate member of the Securities Institute as well as a holder of an ISMA Foundation Course certificate.

Securities Institute

Auckland University CC

Howick Pakuranga Hockey Club

Objective

With the experience I have been fortunate enough to gain in both the Operational and Relationship environments of the Financial Markets, I always seek an environment that offers me the scope to use these experiences, extend them, and challenge me in terms of making a significant contribution to a business' growth and profitability.

Through the product knowledge that I have gained, I believe that I am well placed to improve operational processes from an efficiency and a control perspective. This would be through either the re-engineering of processes or the management of service provision from business counterparts, both internally and externally, but crucially one in which the risk is reducing through the maintenance of control, whilst always maintaining a clear line of communication for those who are impacted in the changes .

The challenge for me is always the delivery of a premier level of service for the client, whilst ensuring that the Institution maximises its opportunities. The ways in which this can be done are many, maybe through new products, service standards or internal process and procedure, but always one in which control is maintained and operational risk reduced to ensure that the client always has a positive experience. 

NZ Farmers Weekly Article Nov 2011

Addington Village CC

Interest

I am a keen sportsman, being an active member of the Howick Pakuranga Hockey Club during the winter months and Auckland University CC during the summer where I am now captaining the B2 grade team in my second season at the Club. In the UK I was regularly appointed captain in both my main sports, at Sevenoaks Hockey Club and Sevenoaks Vine CC, and have achieved success in guiding teams to promotion, whilst also holding other positions on the clubs' committees, including responsibilities concerning the collection of annual subscriptions and weekly match fees. More recently I am becoming actively involved with the coaching and umpiring of juniors at the hockey club, due to both my sons' interest. To keep myself fit, I am a regular evening runner and cyclist.

Sevenoaks Hockey Club

Work History

Work History
Nov 2009 - Present

Operations

JBWere (NZ) Pty Limited

Operations Risk & Controls  (Aug 2011 - Present)

Reporting Line - Chief Operating Officer, New Zealand

Responsibilities

Implement and maintain a control framework to ensure increased visibility of key business metrics and the minimisation of Operational risk

Recommend and implement new tactical and strategic processes to reduce risk and increase scalability of the business.

Achievements

  • Running of the project implementing a new fee for service on International Custody accounts
  • Implemented an effective daily stock reconciliation process for all foreign custody positions
  • Implementation of Reconciliation matrix
  • Established Company policies for handling and reporting of Trade Errors and Operational Incidents
  • Implementation of a process for safekeeping and control of physical assets
Operations Migration Workstream  (March 2011 - Aug 2011)

Reporting Line - Director - Migration Project, New Zealand

Responsibilities

Establish the Trade Operator function for JBWere (NZ) Pty on migration from Goldman Sachs

Document all internal procedures relating to Trade Operator function

Set up all trading relationships

 Achievements

  • Function succesfully implemented on time
  • All procedure documents approved by Compliance department
Director - Operations & Client Services  (Nov 2009 - March 2011)

Reporting Line - Chief Operating Officer, New Zealand

Responsibilities

Recommend and implement new tactical and strategic processes to reduce risk and increase scalability of the business.

Participate in the programme of redesign of the JBWere (NZ) Pty Ltd operational processes following its migration from Goldman Sachs and Partners

Maintain the delivery of a quality custody service from JBWere (NZ) Nominees to the clients of JBWere (NZ) Pty Limited

Continuous review of staff performance in line with objectives set. 

Achievements

  • Successfully activated, and proceduralised, JBWere's accounts at the market Depositories, NZClear and BaNCS
  • Implemented a Corporate Events notification process through the use of market data providers enabling the creation of an effective diary process 
  • Migrated the Foreign custody business into the mainframe custody system of JBWere.
  • Successfully completed name changes into JBWere at the market registries and our foreign agents.
  • Completion of the Operations design for the new business model of JBWere (NZ) Pty Ltd
  • Delivery of new Client Performance Reports
  • Delivered improvements to the JBWere (NZ) Nominees client website
Oct 2004 - Oct 2009

Manager - Custody & Asset Servicing

Standard Bank Plc

Reporting Line - Senior Manager – London Operations

Responsibilities

Management of the Banks’ Custody business which covers securities trade and FX processing, the timely processing of all Income and Corporate Events for both Client positions and the Bank’s own positions.

Servicing of the Bank's note issuance programme to ensure that all entitlements are paid in a timely manner into depositories.

Minimisation of operational risk within all processes.

Completion of staff annual appraisals and the mentoring of them in reaching the objectives which they are set.

Achievements

  • Implemented increased controls and visibility for processes within Income and Corporate Events through engaging the use of external IT Software company and internally built databases.
  • Increased Custody income to in excess of $1mill, over a three year period, which represented a fortyfold rise through efficient management of both new and existing clients and the implementation of an effective invoicing process.
  • Built the Banks' reputation as being the ‘African custodian of choice’ by utilising fully the group’s Sub-Saharan presence which gave clients a single point of entry into the region.
  • Re-engineered the management of the Banks' note issuance programme to increase the transparency and control of the programme as it grew.
Nov 1999 - Sep 2004

Manager - International Equities

HSBC Investment Bank

Reporting Line - London Operations Manager

Responsibilities

Management of a team responsible for the settlement of equities globally, ensuring that targets relating to settlement rates, fail clearance and STP were met.

Active involvement in discussing with all staff on how to meet their objectives and the training which they required.

As part of the Operations management team there was close attention to cost control and to the management of the annual budget.

Regular meetings with all departments where there was interaction, such as Trade Support, Corporate Actions, Business and Network Managers were held to ensure that departments profile was maintained.  

Achievements

  • Re-engineered the department to become process aligned rather than geographically, at the saving of four headcount
  • Facilitated savings to the Front office of over $1mill in the Arbitrage business
  • Put in place procedures which reduced Stock borrowing costs to the bank by $250/- per annum.
  • Identified savings in the Bank’s Note programme totalling over $250/- through changes to their issuance process
  • Led the Operations team in working with IT to develop one net booking per security following the Bank’s admission to remote membership of European exchanges.
  • Oversaw three successful audits of the department
Nov 1997 - Oct 1999

Manager - Emerging Market Settlements

ABN AMRO Equities (UK) Ltd

Reporting Line - London Operations Manager

Responsibilities

Responsible for the whole process of trade capture right through to the final settlement ensuring that no unnecessary costs or reputational risk were incurred, through the implementation of tight controls and the appropriate training and development of staff.

Achievements

  • Established a fully proceduralised Middle and Back office support function for Emerging Market Front Office by creating two very distinct areas with clear roles and responsibilities
  • Integration of the Arbitrage business into the Department
  • Successfully implemented a programme where our top 10 clients were kept up to date on market changes along with potential new markets in which we could offer execution.
  • Introduced an effective interest claims process which saw a 60% recovery rate as well as highlighting how processes and client management could be improved. 
May 1997 - Oct 1997

Manager - Emerging Market Settlements

BZW Securities

Reporting Line - Director of Operations, London

Responsibilities

To establish an Emerging Market Settlement team to support the Sales and Trading team.

Apr 1990 - May 1997

Manager - Emerging Markets Settlements

Baring Securities Limited

Achievements

  • Established an Emerging Market Settlement team by uniting three areas
  • Involvement with local regulators in Eastern Europe, through meetings, into how their market place could be made more attractive to Foreign Investors by recommending changes in trading / settlement processes
  • Improved client understanding on market procedures through regular dialogue and meetings.
  • Improved communication channels Globally between regional Settlements offices through visits and presentations on how markets worked
  • Successful settlement of Barings’ first IPO in Philippines
  • Successfully carried out a training programme for the Geneva office on the London settlement system

Roles

Manager - Emerging Market Settlements      (Apr 96 - May 97)

Supervisor - Eastern European Settlements     (Oct 94 - Apr 96)

Asian Settlements (Jan 94 - Oct 94)

Stock Borrowing & Lending (Nov 92 - Jan 94)

Supervisor - Euroclear Settlements (Apr 90 - Nov 92)

Education

Education
Sep 1979 - Jun 1984

Gravesend Grammar School

A Levels - 2

Economics, Government & Political Studies

O Levels - 8

Inc. English, Mathematics, Geography and Physics

References

References

Neil Andrews

On two occasions I have been fortunate enough to recruit Graeme.

We worked together from 1990 to 1995 at Baring Securities and from 1999 to 2001 at HSBC.

Without a doubt Graeme is the most task-driven colleague I have ever had the pleasure of working with.Having agreed on a goal he sets out to achieve it.I have not known him fail.

He has a high level of integrity and reciprocates loyalty.

He is also very family oriented in his private life.

I would be happy to give Graeme a telephone reference by pre-arrangement, my email address is nra.14@btinternet.com.