Walter Borfitz Resume Resume Details

An analytical, risk oriented, and knowledgeable Risk Analyst/Project Manager with extensive experience in financial services industry.  Major strengths include developing, analyzing, diagnosing, systematization, isolating and facilitating risk reduction/data analysis.   Also skilled in examining, clarifying, upgrading and remodeling.  Proficient in Msoffice, Bridge station, Bloomberg, ADP, Beta Systems, web research, Test Director and VMS.  Excellent Data Analysis skills within Excel and Access.

Experience: 			
  Sr. Risk Analyst/ Risk Manager /Project Manager/Quality Assurance
		  E-Trade Financial
		  Rancho Cordova, Ca.
		  2000 to 4/2006
		
		    
•	Functional specifications lead for Reg. T/Day Trading balance calculations and vetting.  Automated processing at 99.8 % due to accuracy of calculations and Algorithms.
•	Risk Management Project Manager from Beta Systems to ADP.  Trained Harris Direct margin/risk department for conversion to E*Trade.
•	Quality Assurance -  
	Created new option risk reports.  Intraday and Expiration Reports 
	New option products.  Tested ADP and E*TRADE internal system for new option hedging Strategies allowing for reduced margin requirements under NASD memo 01-11
	Balance calculation issues.
	Automated trade vetting issues.  
•	Project Manager for option pairing logic.  Formulated industry leading 8 different pairing methods using complex algorithms, greatly reducing firm wide risk exposure
•	Project Manager, NYSE day trading rule changes Aug 2001.  Cash account calculation adjustments 2002.  Wrote specifications for complex cash a/c vetting automating full compliance with Reg. T  
•	Formulated complex solutions, calculations, and algorithms to insure compliance with regulatory changes, firm policy changes and competitive improvements. Solutions greatly reduced Risk and unsecured debits.
•	Functioned as Clearing Technical lead during conversion of internal clearing system to HTML system.  Fully involved in all aspects of project, from initial functional specifications, design of UI, UAT Testing of functionalities and accuracy of calculations, defect management, to staggered roll out of project to customers.  
•	Performed internal audit of AML and Fraud procedures and systems.  
•	Lead risk management analyst.  Responsibilities include:
	Setting Firm wide and account specific account requirements. 
•	In-depth review of financial statements/ratios.
•	Trading Statistics, Trends, and Validation measures.
	Executive reporting, Weekly Firm P&L/Trading ratios, And Control Loan Reporting/Focus capital charges.  
	Stress Testing of effect of volatile securities on margin portfolio.  Full understanding of Value at Risk, Stress Testing and Back Testing.
	Risk Review of Large incoming accounts.
	Review of unsecured accounts to provide solutions to technology. 
	Intra-day risk
•	Day Trading risk
•	Option Risk
•	Large % price changes. 



		Margin Supervisor
		E-Trade Securities
		Palo Alto, Ca.
		1995-2000
		
•	Supervised a team of 18 margin representatives.
•	Tested and verified system year 2,000 compliance
•	Provided management support for margins manager when assigned to other responsibilities.
•	Dramatically increased productivity of margins by writing specs that eliminated or reduced unnecessary reports and processes.
•	Supervised and implemented the transition of Margin to a self-clearing environment using Beta Systems Prior system ADP.
•	A valuable informational source to operations and customer service concerning regulatory issues and research.



MARGIN ANALYST 
		Montgomery Securities
		San Francisco, Ca.
		1990-1995

•	Oversaw and managed the daily activities of the firms “sensitive accounts” (composed of high net-worth individuals and the firm’s general partners).
•	Updated and maintained Margin reports, approved disbursements.
•	Maintained the Portfolio Status/Profit & loss for the Private Client Group.
•	Issued Reg. T. and Maintenance calls.
•	Responsible of IRA accounts during personnel transition and vacations. 
•	Facilitated training of new ACAT department.



Margin Analyst
Credit Lyonnais
Wall St., NY
1987-1989

Spearheaded operation’s task force during the conversion from Europartners Securities to Credit Lyonnais Sec. Corp using ADP.
•	Reorganization and Dividend Liaison between Branch offices and clearing firm.
•	Produced regular commission reports for CEO, Maintained Profit and Loss records for the arbitrage Group and oversaw administrative requirements for Asset Management Department.
•	Trained the Holland office in margin procedures and the ADP System. 


Education	B.S. Economics  	New York State University   
				Oneonta, New York 1986
 					
Licenses:   	Series 4 (Registered Options)
Series 7 (Broker License)
Series 24 (General Securities Principal)
Series 63 (Uniform Securities Agent State Law)

Computer Skills: Excel, Word, Access, Bridge Station, ADP Portfolio Status, VMS, Bloomberg, Internet research/informational sites, Test Director, Beta Systems, and ADP brokerage systems.  

Member:   	GARP- Global Association of Risk Professionals.

Military: 	US Army 1977-1981
Finance Specialist