Market Risk, ALM, Funding and Liquidity Credit Technical Risk and Underwriting Insurance Risk, Underwriting and Actuarial Services Operational Risk Investment Risk Firmwide Risk Management Strategy Operations Business Transformation and Program Management Corporate Finance and M&A Regulatory and Compliance Basel2 and Solvency2 IT
Retail Banks Commercial Banks Investment Banks Asset Management Pension Funds Life Insurance Non-Life Insurance Corporate Treasury Private Equity
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ANGELA SMITH

Home tel/fax: 01372 817498 Mobile: 07979 703137 :

Finance, risk and strategic insight to transform financial performance and create competitive advantage.
2008-2009 LV UK Financial Services group; US$7bn Life Insurance liabilities; US$2bn Non Life personal lines liabilities; US$12bn Fund Management assets; US$0.5bn banking assets. General Manager Finance. Group Chief Actuary. Chief Financial Risk Officer (ALM, Funding, Liquidity, Market Risk, Capital). Actuarial Function Holder and With Profits Actuary. Effectively Deputy Group FD.
  • Transformed risk management/governance, ALM, Treasury and Actuarial valuation
  • Vice chair financial risk committees, chair of Actuarial risk committees
  • Steered the group through the Financial Crisis; creating significant extra solvency capital
  • Effectively CEO of Royal National Pension Fund for Nurses closed Life business
  • Lead executive for Solvency 2
  • acquisition analysis and execution
  • Attended Board and Audit committee on risk and actuarial matters

2006-2007 KPMG LLP top 4 global professional services firm
Managing Director UK Financial Sector pract
  • Basel 2/Solvency2; Strategy, risk and Actuarial advice; EC/ICA, governance
  • Finance and Risk restructure and transformation; credit risk strategy and collections
  • Member of 7 partner UK management board for 150 consultant business.

1999-2005 HBOS plc leading UK based International FS firm, created in 2001 from the merger of Halifax plc and Bank of Scotland plc. PBT GBP5.7billion in 2006, 70,000 employees.
Chief Financial and Operational Risk Officer (inc Chief Actuary, Chief Credit Officer)
Recruited into this role at Halifax plc. Appointed to the larger HBOS role in 2001.Global lead on risk management - Credit Risk, ALM, Funding, Insurance (life/Non-Life), Investment, Operational Risk , Fraud, Continuity, Insurances, physical and inf’n security.
  • Deputy Chair Executive Risk Committees; attended EXCO, Audit committee and Board; represented group FD with the Bank of England, regulators, investors and rating agencies.
  • Finance roles included approving provisions/reserves, Capital planning, Insurance EV, large exposures, IFRS implementation and annual planning cycle
  • Chief Actuary, Chief Credit Officer with largest personal credit authority in the bank.
  • Managed 350-1000 reporting lines over period.
  • Profit Contributions to Retail Bank over £350m per annum through, driving cross sell into higher margin products, transforming retail credit to deliver a much higher accept rate.
  • Introduced analysis to support substantial growth in asset based corporate lending. Now No1 in this segment; additional profit over £100m pa.
  • Profit contributions to Insurance Divsion over £100m per annum through analysis driving redesign of annuity products (asset & liability sides), redesign of WP hedging and driving the introduction of geographical risk rating to address flood damage.
  • Transformed approach to Integrated Risk Measurement (now EC, ICAAP), Operational risk, ALM, liquidity and balance sheet management. HBOS now leading UK bank in these areas
  • Post merger created industry leading group wide risk/governance framework, based on a program of target risk management standards to establish strong non-line relationships across the senior executive
  • Substantial exposure to FSA, including Approved person status (CF10,12,13,14,15).

1993-1999 KPMG LLP. Partner Financial Sector Consultancy
Recruited as Executive Consultant. Promoted to Managing partner for the UK Risk and Strategy practice in 1995 and appointed lead Partner for Europe in 1999.
  • Built consultancy to No.2 in UK after Oliver Wyman. Developed an outstanding team from 6 to 50 consultants with revenues of £10m pa.
  • Pioneer of UK development of quantitative operational risk and commercial credit risk rating models, many still leading edge.
  • Delivered several large credit/lending business transformation and financial controls redesign projects.
  • Led several projects to clear up financial trading crises and redesign controls frameworks.
  • Achieved fees of £5million from single client over an 18 month period
  • Created the “Three Lines of Defence” organisational model, the most widely used financial sector governance/operating model.
  • Achieved high degree of repeat business with leading financial services firms

1983-1993 UNION BANK OF SWITZERLAND (UBS)
UBS is a leading international financial services firm. Its Investment banking business was transformed in 1986 when in bought Phillips and Drew, the leading UK stockbroker (and nascent Investment bank). 2006 profit CHF 12.3billion from 78,000 employees worldwide.
1988-1993 Director Treasury
Head of interest rate/fixed income options and Head of arbitrage trading
  • Personal trading revenue averaged over £2m per annum
  • Led team of 10 front office colleagues
  • Derivatives academic , creating several new models/insights
  • Published book “Trading Financial Options”, Butterworths 1988
1983-1988 Manager
  • As head of front office systems, built front office interest rate curve, bond analysis, option pricing and portfolio management systems
  • Fund Manager
  • Investment analyst, broker and corporate treasury advisor

ACADEMIC QUALIFICATIONS

Institute of Mathematics FIMA, Chartered Mathematician
Institute of Physics FInstP, Chartered Physicist
Warwick University MBA (Distinction). Specialist subjects: Corporate Finance, Strategy.
Oxford University (Univ & St Catherine’s) DPhil -Theoretical Astrophysics. Senior Scholar
Cambridge University (Trinity Hall) MA (1st class) -Mathematical Physics. Scholar. Prizes 1978, 1979

PROFESSIONAL QUALIFICATIONS

Institute of Actuaries FIA, Advanced Certificate in Derivatives, Derivatives Examiner
UK Society Of Investment Professionals FIIMR(dip -CFA equivalent), FSIP
Chartered Institute of Marketing FCIM(dip), Chartered Marketer
Association of Corporate Treasurers MCT(dip)
Securities Institute/FSA FSI(dip)
Institute of Risk Management FIRM(dip)
Institute of Credit Management FICM
Institute of Management/Consultancy FIMgt, Certified Management Consultant
Global Association of Risk Professionals FRM (Global top result)
Institute of Cost & Executive Accountants FCEA, Incorporated Executive Accountant,
Institute of Financial Accountants FFA, Incorporated Financial Accountant,

APPOINTMENTS

University of Warwick Associate Research Fellow 1994-1996 (FORC)
Worshipful Company of Actuaries Liveryman
Miscellaneous Tutor Oxford University 1979-1983 Project Management Institute (PMP 1999-2004)