Projects
Governmental export credit institution
Client: Public Sector
Descrption: Built a portfolio model for valuation and risk assessments of government trade finance guarantees, and implemented a portfolio tracking and reporting system.
Major integrated Latin American petroleum company
Client: Private Sector
Descrption: Built an enterprise-wide risk management function including a portfolio approach to the business. Following management signoff, developed an analytics package to quantify these risks.
European refinery
Client: Private Sector
Descrption: Established a multi-tier trading risk policy and limit-based risk control system for European petroleum products.. Built management consensus around the recommendations. Supported management’s bid to obtain funding from a bank syndicate based on adopting the risk management policy.
Mexican power marketer
Client: Private Sector
Descrption: Built a trading framework and complete pricing/risk models for trading gas and power derivatives in Mexico, including hedging strategies with Southeastern US power markets. Project was canceled post-completion following Obrador’s election.
Wall Street bank energy credit portfolio
Client: Private Sector
Descrption: Built a private debt pricing model for energy companies using market inputs rather than credit ratings. This allowed dynamic revaluations and hedging opportunities for a non-traded loan book.
Enron bankruptcy
Client: Private Sector
Descrption: Advised dozens of clients on the valuation of Enron trades for negotiation and settlement purposes. Provided expert witness testimony in over 20 cases.
FCStone
Client: Private Sector
Descrption: Board-level advisory on risk management strategy in the wake of a trading disaster. This lead to the largest derivatives transaction in gas ever experienced on the Chicago Mercantile Exchange up until that time. Euromoney awarded David Shimko and Brett Friedman the designation of “Energy Deal of the Year” for arranging the transaction.
Australian bank
Client: Private Sector
Descrption: Advised bank on structuring and execution of a tax-related arbitrage structure. This included building pricing and risk models for the transaction.
Canadian commodity exchange
Client: Public Sector
Descrption: Developed Span-style risk system for startup exchange using innovative price risk assessment techniques.
U.K insurance company
Client: Private Sector
Descrption: Developed complete risk management policy for the insurance company requiring unanimous approval from all department heads.
Fintech lenders
Client: Private Sector
Descrption: Developed regulatory model validations for over 30 fintech lenders, involving critical model reviews and implementation recommendations.
Venture capital firm
Client: Finance Sector
Descrption: Developed and implemented a complex risk model for receivables from insurance settlements. The model was built to structure securitizations, and to supply real-time updates in valuation and risk reports by tranches.
U.S. insurer – Variable annuities
Client: Private Sector
Descrption: Reviewed and recommended overhaul of insurance risk management function for dynamic hedging of market risks in insurance products (e.g. GMDB).