Terry is a financial services executive, with 30 years of experience as a COO and CFO for investment banking capital markets, trading and derivative businesses in New York, London and Tokyo, as well as Fin-Tech start-ups, private funds, RIA’s and hybrid broker-dealer businesses. Terry’s expertise in business management, operations, compliance and technology allows her to translate business, legal and regulatory requirements into workable business and compliance policies, processes and technology solutions. Specific areas of focus: 1) Trading and markets and capital markets: equity automated trading platforms (15c3-5 direct market access), best execution, MiFID/Reg NMS requirements, OATs/CAT reporting, risk assessments, AML remediation (Europe and US), OTC Derivatives, Prime Brokerage, new business strategy and execution, business evaluations, compliance policies and solutions. 2) RIA’s, hybrid/independent broker-dealers, Fin-Tech and private funds: Design of compliance, operations support and technology solutions, ongoing CCO support and policy definitions (for small advisory firms, large multi-advisor firms and private funds), tax efficient centralized managed portfolios and advisor as PM, design and implementation of financial planning and investment management technology solutions (including integrated goals based investing), training of advisors to prepare and deliver client financial plans, and client and advisor support processes.
- Trading desk reviews and evaluation of policies, procedures and controls.
- Evaluation of financial advisor technology for large multi-advisor firms, or small advisory practices. Efficiency reviews of advisor practices and proposed solutions, including streamlining client onboarding, integrated financial planning or IPS, automated trading and rebalancing, tax efficient investing and trading, centralized managed portfolios, and client and advisor technology dashboard and tools. All solutions custom defined for cost effectiveness and individual needs.
- Outsourced CCO, CCO support and creation of compliance programs for RIA’s and private fund advisors. Creation of compliance policies and oversight process for hybrid advisor roll-up firm, utilizing centrally managed investment portfolios and individual client financial plans. Oversight of advisors as portfolio managers.
- Created operations and compliance framework for Fin-Tech start up as well as financial models. Experience with Private Equity investors and structures.
- Managed all aspects of timeline, process and technology evaluation for Advisor transitions from BD and Advisory firms to independent RIA’s and hybrids. Preparation of financial projection models for Advisors looking to go independent.
- Board member of Credit Suisse hedge fund.
- Implemented Reg NMS and Reg SHO rules at broker-dealer and defined best execution review policies for large and medium sized broker-dealers. Understanding of MiFID rules and CAT transition.
- Defined access control and review procedures for internally designed trading systems and internal crossing engine (Dark Pool).
- Redefined client ID/money laundering processes (Anti-Money Laundering, or “AML”) and remediated all client accounts under UK regulator direction. (European AML standards)
- Defined and communicated “tone at the top” compliance policies for major international Investment Bank, and multi advisor financial advisory firm.
- Experienced in defining and implementing new business/product requirements and compliance policies for many trading and derivatives desks and advisory businesses in the US as well as the UK, Europe, Latin America, Japan and HK.
- Created Equity Trading desk in Mexico, set up a new UK and European retail Listed Derivatives desk, created a Tokyo Listed Derivatives Desk, set up several multi-product proprietary trading desks.
- Prepared Divisional risk assessments and ongoing risk monitoring during implementation of new Basel risk capital requirements. Also performed evaluation of conflicts within business lines.
- Familiar with legal entity, capital and credit issues of OTC and listed derivatives.
- Defined systems and operational requirements to meet regulatory guidelines at both broker-dealers and Registered Investment Advisors.
- Designed the user experience and defined platform technology components for a Financial Planning and investment platform to support financial advisors and clients.
- Led business efficiency evaluations and process improvement programs across several mature businesses.
- Defined factors that impacted business profitability in Equity Trading as the industry moved to lower cost automated trading; trade execution costs and routing decisions, client profitability, and unbundling of research.
- Experience with SEC, FINRA and FSA (UK) exams.
- Chief Operating Officer (COO)/Chief Financial Officer (CFO) – Wealthcare Capital Management (“roll-up” hybrid RIA firm) and Financeware (proprietary financial planning software sold on an institutional basis). Responsible for Firm Compliance
- Principal/COO/CFO – Agility-Partners/Blackfish Financial – Start-up Robo-Investment/Advice Platform
- Managing Director COO – Equities Americas, New York – Credit Suisse
- Managing Director Global COO – Equity Derivatives and Convertibles Unit (EDCU) – London, New York – Credit Suisse
- Managing Director – Global Business Manager Equities, London – Bankers Trust Company (Deutsche Bank)
- Vice President, Business Manager, Trading and FX, New York and Tokyo – Bankers Trust Company
- Associate, Mortgage Securitization – Salomon Brothers, Inc., New York
- Price Waterhouse Coopers
Education, Accolades & Affiliations
- S., Accounting and Business, University of Scranton, Scranton, PA
- Member of the Board of Trustees, University of Scranton – 2010 to 2016 – Vice Chair – 2014 to 2016
- Member of the University of Scranton President’s Business Council
- Certified Public Accountant (CPA) (Inactive)
- Regulatory Licenses – FINRA – Series 7, 24 & 63 (Inactive)
- Certified Financial Planner (CFP) candidate – coursework in progress
- Board Member and Treasurer, Help with Housing, 2011 – 2013
- Past Member, ISDA European Advisory Board, working to standardize equity derivative contract terms
Articles, Blogs and Presentations
Webinar: GDPR: Are You Protecting Your Clients’ Data? – Webinar, April 10, 2018
Webinar: Starting Your Own RIA and Going Independent – What You Need To Know – January 24, 2018