Richard E.

Hervas
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EXPERIENCE Deerfield Capital Management LLC, Chicago, IL
7/00 - present Deerfield Capital Management is an alternative investment adviso
r with over $10.1 billion of structured CDO and Client Accounts.
Vice President Risk Management Counterparty Credit (2004- present)
Managed daily counterparty exposures for former hedge funds, several managed ac
counts and Principal Investing account for Parent Company of Deerfield Capital C
orp. for various trading products, including swaps, options, repurchase agreemen
ts, forwards, and futures
Manage liquidity on a daily basis through control over margin calls and succeed
ed in reducing haircuts and initial margin with counterparties when cash is low
Negotiate counterparty trading documents, gaining more favorable credit terms w
ith several counterparties
Maintain counterparty relationships through conducting annual meetings and impr
oved transparency of NAV and risk information for hedge funds through the implem
entation of a web-based reporting
Report to the Risk Committee each month on the fund parameters, position concen
tration, leverage, and counterparty exposure
Work with quant analyst on measuring the risk of the former hedge fund portfoli
os using outside models and some prop models
Work with Chief Compliance Officer to review and monitor policy and procedures
for the firm as well as for the various client accounts
Operations (2000-2004)
Confirmed with counterparties daily trading activity that consists of treasurie
s, corporate bonds, asset-backed securities, commercial paper, credit default sw
aps, CBO, CMO, interest rate swaps, OTC options and repo
Communicate with traders, counterparties, trustees, and custodial bank to resol
ve trade and settlement discrepancies
Interact with the credit department daily to analyze margin exposure and assist
in resolving mark-to-market discrepancies with counterparties on swap and repo
exposures
Reconcile futures orders and investigated settlement issues with FCMs
Assist the accounting department to resolve trustee discrepancies with the coll
ateral held in each of the structured portfolios as well as regarding cash manag
ement to determine the amount of cash and treasury collateral required to meet d
aily margin requirements
Track cash collateral and worked with accounting each month to reconcile intere
st
9/99 - 6/00 Hewitt Associates LLC, Lincolnshire, IL
Participant Services Benefit Consultant
Assisted customers with health and insurance benefit information
Reviewed and prepared accounts for Qualified Domestic Relation Orders
Performed pension calculations under the Qualified Domestic Relation Orders
9/97 8/99 Chase Manhattan Bank, Tempe, AZ
Collection Representative
Worked with management to arrange incentive programs to increase levels of prod
uction and improve customer service
Negotiated settlements and payment plans with clients
Performed credit checks and budget analysis
Responsible for all Spanish-speaking clients and translation duties
7/97 8/97 Morgan Stanley Dean Witter, Phoenix, AZ
Internship - Brokers Assistant
2/97 5/97 Merrill Lynch, Scottsdale, AZ
 Internship - Brokers Assistant
EDUCATION Arizona State University, Tempe, AZ
Bachelor of Science in Finance, August 1999
DePaul University, Chicago, IL
Finance Major, 9/94 6/96
OTHER Member of the Capital Markets Credit Analyst Society
Attended April 2006 Credit Symposium
Bilingual English / Spanish

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Contact: 1441 S. Fifth Ave e-mail: rh10a8d78@westpost.net
Des Plaines, IL 60018 (847) 404-4866 cell (773) 380-1624 work