Dean Beeton

Joint Head of Credit Central

Direct reporting line into the Group Head of Credit (member of Macquarie Group ExCo)

Provide strategic direction for team of 6 associate and 2 division directors and their teams (approx 80 headcount) with the following roles:

• Credit Loss Modelling
• Credit Assessment, Approval and Monitoring Systems
• Counterparty Credit Risk Systems (derivative credit exposure evaluation)
• Credit Policy
• Credit Data Governance/Integrity
• Country Risk
• Credit Portfolio Reporting
• Troubled Assets

Most significant external stakeholder interactions included:

• APRA, PRA, RBI (Irish Regulator) (derivative risk management framework and measurement, credit provisions and credit stress testing, XVA, capital models)
• External audit (AFS fair statement, critical data elements, capital calculations and disclosures)

Most significant internal stakeholder interactions included:

• Group Finance (accountable for qualitative and certain quantitative disclosures in the AFS, responsible for credit tech budget)
• Group Data Officers (primary approver for credit data accountabilities)
• Front Office COOs (new product implementations and systems strategy)

Head of Credit Exposures, Modelling and Analytics

Reporting line into the Head of Central Credit

Oversight of 3 directors and their teams with the following roles:

• RMG Data Analytics
• Counterparty Credit Modelling
• Exposures and Group Systems

Chairman of regional credit directors and AASB9 Risk Management Subcommittees (comprised of directors from business units, quantitative application division, credit, finance and other risk management groups)

Representing credit on a variety of project and oversight steering committees (XVA, Letters of Credit, Undrawn Commitments, Trading Legal Documentation, OTC Margining Reform)

Stream lead for wholesale and retail credit modelling (AASB9 and IRB):

• Development of governance framework for modelling teams group-wide
• Oversight and approval of technical modelling assumptions and decisions
• Co-ordination of implementation with IT and finance
• Liaison with external audit and regulators
• Development of strategy and roadmaps with respect to all of the above functions
• Presenting to senior management and board committees

Stream Leader Credit Analytics

Reporting into the Credit COO

I initiated the formation of this team as I saw a strong business case for the formation of a team of experts with deep knowledge of credit risk analytics.

One of the key short term deliverables is the implementation of a Counterparty Credit Risk models based Monte Carlo System (MBMC).

The benefits of this project where:

• More accurate credit exposures (reflecting portfolio effect, correlation benefits and a greater range of credit metrics)
• Improved upfront deal pricing for derivatives
• Greater precision of XVA accounting adjustments
• Capital benefits from improved precision of portfolio credit exposure
• Strong link between risk and capital requirements
• Contingent funding requirement management information
• Potential to start a CVA trading desk

Owner of Credit Capital System

Reporting into the Head of Risk Data Policy

The role enabled me to:

• Gain in depth understanding of APRA's standards and principles
• Develop skills around communicating concisely and with clarity to senior management of capital adequacy during the Global Financial Crisis

Responsibilities included:

• Managing a team of 5 risk professionals
• Developing specifications, prioritising and coordinating capital system development with multiple stakeholders
• Production of monthly and ad-hoc credit capital results in compliance with APRA APS and Basel guidelines
• Communications with regulators and auditors (internal and external)
• Sign off of new product approval
• Chaired the group data working group coordinating actions between risk, finance and front office
• Regulatory and economic capital optimisation
• Implementation of regulatory reporting (both control and capital) for new jurisdictions including South Korea, Singapore, Hong Kong and India

Various roles within credit culminating in Head of Credit Risk Operations

Reporting into the Group Head of Credit

• My initial roles enabled me to further strengthen my knowledge of derivative products and also my business analysis and IT technical skills
• Heading up the team changed my focus and required me to be an efficient reviewer, communicator and strategic leader

Responsibilities included:

• Management of a global team of 12
• Communication with the lead regulators (the South African Reserve Bank)
• Chairman of the counterparty risk working group of the banking council of South Africa (assisted with drafting the Credit Basel II regulatory reporting requirements)
• Limit and Exposure Management systems and reporting
• Credit Portfolio Reporting
• Oversight of excess monitoring and reporting
• Compliance with large exposure and other credit related regulatory requirements
• Development of Basel II capital reporting systems and processes
• Implementation of credit limit and exposure, credit approvals and counterparty credit risk systems
• Development of a joint credit, market risk and ALM (Asset and Liability Management) data warehouse and writing code to implement feeds into this model from front office systems

Responsible for business analysis on the Credit Risk Limits and Exposure Management system implementation project and in so doing:

• Developed my knowledge of different banking and trading products in order to reasonably model credit exposure.
• Received IT training in order to be able to review code to identify required system changes

Responsibilities included:

• Liaison with key business and IT stakeholders
• Documentation of business requirements, review of technical specifications and testing system releases (internal and vendor)
• Providing requirements for interfaces to front office systems for near real time exposure management

Although early on in my career this gave me a good appreciation of the skills required to manage teams in working to deadlines by way of clearly defined goals and project management disciplines.

Responsibilities included:

• Control, planning, budgeting and review of audits
• Production of statutory financial statements for clients
• Consolidation of client group accounts
• Reviewing the clients' accounting and inventory systems
• Attendance at audit committee meetings
• Supervision and training of staff
• Due diligence on acquisitions