Azra Yaqub

 Azra Yaqub Mailing Address: 8/II, 2nd Zamzama St., Clifton, Karachi - 75600, Pakistan Email:-Mobile: - PROFILE 20+ years experience as Risk Management specialist - design, implementation & capacity building Specialist of Policies, Procedures, Internal Controls & Regulations in Financial Management & Compliance Co-led national implementation of Basel II at State Bank of Pakistan Led operational restructuring (including HR reforms & skills building of teams) for Market, Credit Portfolio Management, Credit administration & Operational risk units Expert Trainer for Financial Models & Portfolio Management to public and private enterprises Experience with a wide variety of sectors-businesses, entrepreneurs, start ups, family-owned businesses, investment companies, financial institutions, not for profits & NGOs on various aspects of business development, innovation, financial inclusion, capacity building, financing, compliance & risk management Extensive knowledge of diverse sectors and business eco system of the Pakistani economy, including banking, insurance, IT, education, construction, engineering, consulting, sub-contracting, architecture, women-led businesses, public sector regulatory setup Advisor to IFC SME Ventures South Asia on conducting feasibility study on setting up ventures programs in South Asia Experienced manager of projects & teams Experienced in business efficiency enabled through IT innovation – Automation of processes, AI in compliance and risk regulations, automation of reported processes, interpretation of unstructured qualitative and quantitative data sets Strong written & verbal communication & presentation skills EDUCATION Oregon Health and Science University, Portland, Oregon, USA - MS in Computational Finance, 2001 Course of Study: Corporate Finance, Derivatives, Fixed Income, Accounting, Economics & Statistical Inference inclusive of programming languages such as C++, Matlab, VBA, SAS Specialization: Financial & Mathematical modeling CASS Business School (Previously City University), London, UK - Postgraduate Certificate in Actuarial Science, 1996 Specialization: Actuarial Pricing University College London, London, UK - First Class BSc Honors in Architecture, Planning, Building and Environmental Studies, 1991 Specialization: Architecture, Project & Business Management EXPERIENCE FREE LANCE MANAGEMENT CONSULTANCY Technology Links (Pvt.) Ltd. Pakistan – Consultant - Projects, Nov 2015 – Dec 2016 Technology Links is an exclusive distributor in Pakistan of high-tech equipment for education, health, research & technical and engineering education sectors. Working as a consultant on the project business side, I am currently implementing Formula 1 in Schools through a dedicated center established in DHA Suffa Engineering University Provision of expert counseling to government organizations, donors, financial institutions, non-profit organizations & end users Planning and arranging financing, Implementation of projects Monitoring & evaluation of implemented projects Preparation of proposals & feasibility studies for new businesses Caravan of Life Trust Pakistan – The Recovery House, Karachi – Consultant, Jan 2016 – Feb 2016 The recovery house under the banner of the Caravan of Life Trust provides treatment and help to individuals with mental illnesses. Management consultant for the recovery house Managed and reviewed the recovery house website and its contents Reviewed policy manuals and procedures Involved in planning and arranging financing, Monitoring & evaluation of implemented projects The Lyceum School, Pakistan – Management Consultant, April 2014 – June 2014 Management Consultant to 27-year old private, for-profit educational institution Consulted on business development strategies to enable market growth, equity financing options, brand recognition, efficiency enhancement & institutionalization Worked closely with the management team to facilitate articulation of core organizational priorities, institutional & political aspects of work and development of monthly work logs for each department Developed tools for internal reorganization prioritizing efficient resource allocation Articulation of accountabilities through outlining staff roles & responsibilities Audited Finance department and aligned the audit requirements along with daily tasks Shirkat Gah NGO, Pakistan – Consultant, November 2013 – December 2015 Management consultant to largest NGO in Pakistan, financed by international and local partners (governments including the UK, Norway, Netherlands & private companies) focusing on women’s empowerment, job creation, financial inclusion and legal rights Policy development, strategic planning and implementation of a zero tolerance policy towards fraud and corruption Integration of fiduciary due diligence and strengthening of risk management in alignment with international Donor requirements Development of business model for service provision for greater effectiveness and accountability Gap analysis of financial system (core accounting system), policies, processes, procedures & reporting Capacity building & facilitation for development of tools for internal reorganization including IT systems Documentation of operations manual & code of conduct Strategized on a plan of action and requisite capacity to set a risk based philosophy within each department Design an effective and efficient internal controls system, streamlining policies, procedures & promoting transparency in reporting to mitigate risks IFC SME Ventures Program South Asia – Advisor, August 2012 – January 2016 Advisor to the project coordinator on implementation strategy and market resource Advisor to the project coordinator on implementation strategy and market resource Peer reviewer for South Asia venture programs feasibility study Capacity building for SMEs Review of risk capital for early stage companies Exploring the possibility of setting up venture program in Pakistan BANKING EXPERIENCE KASB Bank, Pakistan – Head, Risk Management, Nov 2011 – Dec 2012 Responsible for managing and restructuring the Risk & Credit Administration Departments at this small sized commercial bank, including staff development for alignment to new bank strategy for reduction of non performing loans portfolio & primarily dealing with small businesses, textile, power and the agricultural sectors Managed units for Risk Policy & Credit Administration overseeing 30 staff across Pakistan including development of policies, procedures & reporting for enhanced risk management for market, credit & operational risks Ensured a prudent level of portfolio diversification in order to manage risk Developed a framework for E-CIB reporting and IT integration with MISYS Conducted detailed and exhaustive analyses on the core deposits of the bank and all loan facilities Responsible for developing a Stress Testing model for quarterly reporting as per the new central bank directives Devised a model for calculating Value at Risk, Earnings at Risk & Capital at Risk for the Bank’s portfolio Created a provision based rating system on the basis of days past due for each customer and their probability of default Trained departmental staff to build capabilities for managing enhanced role of the division Allied Bank Ltd., Pakistan – Senior Vice President, Internal Control Project, Apr 2009 – Oct 2011 Responsible for implementation of the ICGL/COSO Internal Controls Project for bank, which is one of the 4 largest private commercial banks in country, dealing with all sectors of the economy Successfully managed & led a team of 10 senior members from different departments Strategized & prioritized remediation initiatives through dialogue on gap analysis with each department/ process owner Developed detailed management testing plans for risk control and assessment on an ongoing basis Monitored compliance of control procedures within the timelines assigned under the plan and reported to the competent authorities/ project steering committee on the implementation status of the initiatives Developed compliance policy and procedural manual Allied Bank Ltd., Pakistan – Senior Vice President & Head, Market Risk, Jan 2008 - Apr 2009 Design & Implementation of Market Risk & Asset Liability Framework within 15 months at bank, which is one of the 4 largest private commercial banks in country, dealing with all sectors of the economy. Worked with innovative IT start ups and SME training providers Played a key role in the risk/reward decision making process for bank wide market risk management Verified and approved pricing models and IT based market risk system Reported market risk exposure internally and to the central regulatory agency Managed market risk across asset classes including interest rates, equity, credit products, etc. Monitored adherence to risk limits for all trading activities using quantitative measures, including Value at Risk (VaR) and stress tests Modeled portfolio asset and liability cash flow gaps & ALCO reporting Liaised with other groups/divisions for implementation of the market risk & asset/liability framework Quality assurance of Market risk across the bank, including compliance of policies & procedures with respect to Treasury & FX Group Mentor & train the market risk team Risk Advisory for Alchemy Technology, Pakistan - Risk Advisory Consultant, Jan 2007 - May 2007 Involved in an independent evaluation of the Alchemy Risk Manager software by an IT entrepreneur for Market risk & Basel II Muslim Commercial Bank (MCB) Ltd., Pakistan – Vice President & Head of Credit Portfolio Management, Jan 2006 – Apr 2006 Responsible for improvement of Portfolio Risk & Regulatory Reporting in line with Basel II at this bank, which is one of the 4 largest banks in Pakistan covering all sectors of the economy Managed the implementation of the Credit Portfolio Management Unit in line with Basel II requirements Improved portfolio credit risk assessment Enhanced portfolio performance & identified concentration risk Monitored regulatory requirements (inclusive of scenario analysis & stress testing) Integrated credit risk with other risk types Reported monthly breaches to senior management Muslim Commercial Bank (MCB) Bank Ltd., Pakistan – Vice President & Head Market Risk, Jan - Dec 2005 Design & Implementation of Market Risk Management & Integration of market risk system within 12 months at this bank, which is one of the 4 largest banks in Pakistan covering all sectors of the economy Responsible for the establishment & implementation of the Market Risk framework & system within the bank Verified, approved and reported market risk exposures internally and to the central regulatory agency Managed market risk across asset classes including interest rates and derivatives, equity, credit products, etc. Adherence and monitoring of Gap & VAR limits of the various business groups of the bank within prescribed limits Technical analysis including pricing of derivatives products & reporting in accordance with Central Bank’s requirements Revaluation and mark-to-market for the Fixed Income Portfolio & the Structured Product/ Derivatives portfolio Managed Credit Limits for counterparties and credit breaches Mentor & train the market risk team State Bank of Pakistan, Pakistan - Joint Director, Treasury & Banking Supervision Department, Mar 2003 - Dec 2004 Selection of fund managers for reserves management & core team member designing the roadmap for national implementation of Basel II at the central bank of Pakistan Responsible for developing Value at Risk Models Supervised working paper on road map of Basel II Implementation in Pakistani commercial banks Supervised the development of a Risk management software for the Banking Supervision Department Managed & led a Team of Risk managers Liaised with Fund managers & analyzed risks to track SBP’s reserves portfolio Responsible for review & Compliance of risk tolerances & report breaches from Fund Managers Muslim Commercial Bank (MCB) Ltd., Pakistan – Assistant Vice President, Treasury & FX Group, May 2002 – Mar 2003 Responsible for financial modeling & risk analysis for treasury front office at this bank, which is one of the 4 largest banks in Pakistan covering all sectors of the economy Modeled an excel based VaR solution for daily revaluation for Equity, FX & Money market portfolios Reported daily VaR for Equity, FX & Money market portfolios Reported market risk exposures internally and to the central regulatory agency Analyzed and monitored Gap & VAR limits of Treasury Front Office within prescribed limits Assessed revaluation and mark-to-market for the Fixed Income & Equity portfolios Managed Credit Limits and credit breaches StanCorp Investment Advisors, USA - Quantitative Analyst, June 2001 - Sept 2001 Responsible for preparation of credit risk report & contingent claims scoring system at one of the largest insurance companies on the US West coast Developed a Contingent Claims Credit Scoring System to establish the market’s perception of the creditworthiness of a company and its probability of default Modeled and analyzed Transition Matrices in SAS for effective screening of Bonds and their default risks Created a program in SAS to monitor bonds and their associated ratings on a daily basis Prepared a Credit Risk report for the telecommunication and consumer cyclical sectors Oregon Graduate Institute, USA – Teaching Assistant, Investment & Portfolio Management, Jan - Mar 2001 Supported professor develop and grade class assignments & prepared case studies Developed case studies in Matlab on Efficient Portfolios using mean variance portfolio analysis, minimum risk fully invested portfolios with respect to a benchmark and basic risk analysis Developed & supervised pedagogical assignments in Matlab and Barra Electrical, Mechanical and Civil Systems Pvt. Ltd, Pakistan - Finance Manager, Dec 1996 - May 2000 Managed and coordinated operations of this small private engineering enterprise with international and local clients Managed financial operations ensuring EMC’s compliance with Accounting Standards & reported to the finance director Devised and implemented financial strategies in air conditioning contracts for McDonalds International’s expansion Identified risks, issues, trends and projections to ensure stable cash flows Developed a strategic partnership with Jordanian and Chinese firms to penetrate the industrial air conditioning market Akhtar & Hasan Actuaries and Consultants, Pakistan – Junior Manager, May 1993 - Sept 1994 Conducted analyses and prepared annual reports for clients, corporate, pharmaceutical, entrepreneurs, SMEs, etc. Calculated pension and gratuity valuations, replacement ratios, refund of contributions and mortality calculations for clients Prepared annual pension and gratuity reports and maintained client database Used actuarial statistics to model the future financial behavior of pensions on institutions Ghani Ansari Partnership, Architects & Consultants, Pakistan – Architect, July 1991 – June 1992 Facilitated sustainable architectural projects for this small private enterprise Designed eco-based efficient housing incorporating global best practices in design Interacted with contractors & sub contractors for project monitoring COURSES & TRAININGS Women Directors Training Program – CEE, IBA Karachi Portfolio Models in Excel - World Bank Treasury, Washington DC Training program on Portfolio Reporting - Mercer Consulting, Singapore Leadership & Development Management Program - Ark Consulting, SBP Karachi Seminar on "Train the Trainers” - ADB, Islamabad Senior Officers Seminar on Banking Supervision & Risk Management - ADB, SBP Alchemy Training - Value at Risk & Derivatives Pricing Workshop; ICAAP; Advanced Interest Rate Modeling FMA Workshop - Derivatives Pricing; Interest Rate Models; Market Risk Capital – SBP & Basel II Bench Matrix - Loss Data Framework Implementation Institute of Bankers - Liquidity Risk & Basel III Women Directors Training Program – Certified Director Board Member – Treasurer at Shirkat Gah, Women’s empowerment NGO, 2017 - present Board Member – Secretary, Pakistan Association of Universities of London Alumni, 2017 Director – Indus Dying & Manufacturing Co. Ltd Director – Sunrays Textile Mills Ltd. REFERENCES: Available upon request