Richard Elliott

Military Service:

• Rank: Corporal

  Branch/Position: Marine Corps

  Period: February 1988

  Occupation: 7222 - Hawk Missile System Operator

  Security Clearance: Secret Clearance

  Duties Description:
  Trained to provide air support, air control, or antiaircraft missile units. Tactical employment of air support, air control, or antiaircraft missile units. Control of aircraft in intercept of hostile aircraft and coordinates antiaircraft missile unit's fire with other missile units and with designated air control units.

Work history:

• Job Title: Product Controller, Regional Hedge Accounting Unit

  Company: HSBC

  Period: November 2022 - September 2023

  Role Description:

   Examine the hedge effectiveness of various cash flow and fair-value hedges through various
  testing methods under FASB 133 and IAS 39.  

  ¨ Complete Statistical analysis through regression analysis of cash flow and fair-value hedges. 

  ¨ Entered interest rate swaps and underlying asset/ liabilities into Summit and Hive systems for additional testing and continuous relationship
  monitoring. 

  ¨ Reevaluate on a monthly and quarterly basis the continuous effectiveness of the hedge relationship to determine if the relationship is still within the acceptable range.  

• Job Title: Vice President / Controller, Securitized Structured Financing (2009-2017); Controller - Manager / Associate (2003-2009); Controller - Associate (2000-2003); Controller - Analyst (1999-2000)

  Company: ING Financial Services

  Period: September 1999 - May 2017

  Role Description:

   Advanced during tenure to roles of increasing seniority and authority, ultimately serving as
  Controller of Structured Securitized Financing, focused on asset-backed commercial paper vehicles. Facilitated readiness for internal and external audits by planning audit schedules. Reviewed and attested to financial statements, including disclosures, and produced various financial reports, such as budget variance and monthly/annual revenue documents. Prepared seller invoices utilizing multiple settlement models, involving cost of funds and Libor. Calculated deal waterfalls, credit enhancements, and program, commitment and liquidity fees.  

  ¨ Reviewed and renewed deal documents as signatory for ING Capital Markets LLC. 

  ¨ Managed 25-35 securitized deals ranging from $10M-$2B, totaling approximately $15B across all SPVs. 

  ¨ Evaluated swap deals for hedge effectiveness, making relevant accounting entries. 

  ¨ Post-acquisition of UBS Securitization Warehousing Unit into ING, ensured seamless migration and integration of accounting data into new software and systems as thought partner to IT and Financial Controls teams. 

  ¨ Alleviated bottlenecks impeding timely reconciliation of Securitization department’s daily cash journal entries by developing sustainable solution with Technology department. 

  ¨ Applied financial, accounts and technical acumen to facilitate knowledge transfer, minimizing downtime and expediting ramp-up during business growth.  

  ¨ Enhanced and eased consolidation of two entities’ commercial paper issuances (Monta Rosa Capital Corp. and Matterhorn Capital Corp.) into back-to-back CP issuances with Mont Blanc Capital by completing book transfer of assets and liabilities without additional interest payments. 

  ¨ Monitored and analyzed documents within deal-tracking system to ensure correct initial setup; also, budgeted future revenue and allocated expenses changes, communicating updates to senior leadership. 

  ¨ Regularly engaged with external auditors, such as Ernst & Young, and other financial institutions, including Deutsche Bank, on matters related to RFPs, accounting, hedging activities and financial reporting.  

  ¨ Led internal and external audits, providing critical information on established ABCP operational policies and procedures. Also administered audit calendars and conducted audits of outsourced administration team. 

  ¨ Built internal
  bench strength and capability by training junior / senior auditors and members
  of Controller group on ABCP operating cycles, ABCP hedging strategies and
  International Financial Reporting Standards (IFRS).  

• Job Title: Controller, Securitized Financing

  Company: UBS Financial Services

  Period: January 1996 - August 1999

  Role Description:

   Served as accountant for private debt and equity co-investment platforms and foreign subsidiaries
  (UK, Ireland), denominating various currencies. Reported monthly revenues vs. budgeted incomes and projected expenses; conducted monthly account analysis for closing processes; and prepared monthly financial statements and audit schedules.   

  ¨ Created mechanism to ensure timely, accurate audits of financial statements required for final sale of Securitization Warehousing Unit to ING by deadline – a deal estimated at $2.5M.  

  ¨ Developed workable and cost-effective stopgaps to backup critical data files, greatly reducing workload redundancy while maintaining data integrity. 

  ¨ Guided operational and accounting policies and procedures, addressing client invoicing, administrative processes, control issues, information security, federal provisions and more, as liaison for internal and external auditors. Analyzed incoming / outgoing funds, calculated deal waterfalls and maintained program,
  liquidity and commitment fee schedules, and credit enhancements 

Education:

• Syracuse University

  Master of Business Administration (M.B.A.) – Accounting

  Period: June 2017 - May 2019

• Medgar Evers College (CUNY)

  Bachelor's Degree – Accounting

  Period: September 1988 - January 1993