Michael Saurino
Westfield,NJ
Summary
Experienced Money Market professional with over 27 years concentrated in Securities Financing and Collateral Management. Over my career, I have consistently shown the ability to generate revenue, manage Risk and work with my salesforce in building better customer relationships. Demonstrates positive attitude and readiness to adapt to different situations.
Overview
33
33
years of professional experience
1
1
Certification
Work History
Director of Repo Sales
FMX-Fenics Market Xchange(subsidiary of BGC Group)
New York, NY
04.2021 - Current
- Collaborated with our Internal Developmental Team and Project Manager to successfully implement and roll-out the new Fenics Repo E-Trading Platform. Provided insightful analysis aimed at enhancing functionality, decreasing latency, and delivering an exceptional user experience.
- Effectively communicated with all FICC Members to educate them on our platform's features, benefits and product offering's thru in-person, virtual or Industry Conference demonstrations.
- Coordinated with FMX's internal teams to facilitate successful customer onboarding, ensuring all logon creations, STP integration, and legal documentation met company standards.
- Facilitated effective liaison with external vendors, ensuring customers' successful connection to CLOB through GUI or FIX API.
- Conducted regular status and strategy meetings with clients to gain insights into their initiatives for optimizing platform usage.
- Engaged with industry professionals at Fixed Income Leaders Summit(FILS) and Risk Management Association(RMA) Securities Finance Conference to showcase the capabilities of Fenics Repo Platform through live demos and Q&A sessions.
Managing Director
Guggenheim Partners
03.2011 - 08.2020
- Managed all of the firm's overnight and short-term(up to 3 months) funding needs across asset classes(US Treasuries, Agency Debentures and MBS pools)
- Increased revenue by actively trading Repo Specials in both the front(2yr Notes) and back-end(10yr Notes) of the curve along with the off-the-run inventory of those sectors
- Participated in all weekly US Treasury Bill auctions using the Treasury Automated Auction Processing System(TAAPS) in order to provide liquidity for our retail customers along with generating revenue thru proprietary positions
- Assured all collateral was properly allocated in order to reduce our 'VaR charge' imposed by FICC while preserving the firm's Net Free Equity(NFE)
- Annually trained participants in the Guggenheim Internship Program on the fundamentals of the Repo Industry.
Director of Repo Trading
Guggenheim Partners
04.2010 - 03.2011
- In April of 2010, Guggenheim Partners purchased the Repo operation of LBBW Securities in order to become self-clearing Broker/Dealer
- Provided key input to upper Management and Support staffs in order to ensure smooth and timely transition to new platform
- Assisted Salesforce with the onboard of additional Repo counterparties.
Vice President
LBBW Securities, LLC
08.2007 - 03.2010
- Recruited by former Manager to help build Repo Platform for newly created Broker/Dealer
- Responsible for O/N funding of Treasuries, Agencies and MBS Agency pools
- Provided input to management regarding implementation of trading systems to be used.
Vice President-Collateral Management
Societe Générale
08.1998 - 09.2006
- Responsible for the O/N financing of all US Treasuries, Agencies and MBS Securities for both firm inventory and matched-book positions
- Funding obtained via customer retail(TP and DVP), GCF via Inter-dealer Broker market and time deposits borrowed from o/n Fed Funds Market
- Actively traded all off-the-run inventory in the open repo market
- Assisted Management with the preparation and proper calculation of Quarterly Balance sheet figures and potential Cost of Capital charges.
Junior Trader
Sanwa Securities
01.1993 - 05.1998
- Traded all off-the-run inventory along with covering firm short positions
- Effectively participated in all Federal Reserve open market activities
- Prepared daily PnL, FOCUS, and Federal Reserve Primary Dealer inventory reports.
Junior Analyst-Product Support Division/Pricing Unit
Salomon Brothers Inc.
05.1991 - 01.1993
- Provide Traders and Salesforce with timely and accurate principal, interest, and coupon payments for Fixed Income Securities.
Education
Bachelor of Science: Finance -
PnLGénéraleSt. John's University, The Peter J. Tobin College of Business
Skills
- Business Development
- Creativity and Innovation
- Collateral Management
- Liquidity Management
- Credit Risk Management
- Counterparty Risk
- Crisis Management
- Team Management
Certification
- FINRA-Series 7 General Securities Representative
- FINRA-Series 63 Uniform State Law
References
References available upon request.
Timeline
Director of Repo Sales
FMX-Fenics Market Xchange(subsidiary of BGC Group)
04.2021 - Current
Managing Director
Guggenheim Partners
03.2011 - 08.2020
Director of Repo Trading
Guggenheim Partners
04.2010 - 03.2011
Vice President
LBBW Securities, LLC
08.2007 - 03.2010
Vice President-Collateral Management
Societe Générale
08.1998 - 09.2006
Junior Trader
Sanwa Securities
01.1993 - 05.1998
Junior Analyst-Product Support Division/Pricing Unit
Salomon Brothers Inc.
05.1991 - 01.1993
Bachelor of Science: Finance -
PnLGénéraleSt. John's University, The Peter J. Tobin College of Business
- FINRA-Series 7 General Securities Representative
- FINRA-Series 63 Uniform State Law
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