B. Tech @
Visvesvaraya National Institute of Technology
Chief Risk Officer & Head Strategy @ Piyush Chourasia is the Chief Risk Officer and heads the Strategy function at ICCL. He is responsible for setting up risk management procedures in compliance with SEBI guidelines and testing the adequacy of risk management measures with Indian as well as international benchmarks. He is also responsible for policy making
Chief Risk Officer & Head Strategy @ Piyush Chourasia is the Chief Risk Officer and heads the Strategy function at ICCL. He is responsible for setting up risk management procedures in compliance with SEBI guidelines and testing the adequacy of risk management measures with Indian as well as international benchmarks. He is also responsible for policy making and conceptualising new product innovations including the risk management frameworks for the same.
In his previous assignments, he has been instrumental in setting up and operationalising United Stock Exchange of India Ltd. (USE), a Pan-India Currency Derivatives exchange. He has earlier worked on the Introduction of Currency Derivatives in India at SEBI, his work being acknowledged and included in the RBI-SEBI Standing Committee on Currency Futures.
Piyush has a B. Tech from NIT Nagpur and a PGDM from IIM Ahmedabad. From January 2014 to Present (2 years 1 month) Mumbai Area, IndiaHead of Strategy @ Working for Indian Clearing Corporation Limited., a BSE Group Company, a SEBI recognised Clearing Corporation in India. From October 2011 to January 2014 (2 years 4 months) Associate Vice President - Corporate Affairs & Compliance @ • Got the Exchange notified from Central Government as a recognized Stock Exchange for the purpose of clause (d) of the proviso to section 43(5) read with Rule 6DDB of the Income Tax Act, 1961
• Looked after Compliance, Corporate Affairs, Strategy, Legal, Secretarial and Investor relations functions of the Exchange.
• Interim charge of Finance & Accounts from January 2011 to August 2011, losses for the Exchange cut down by 80% with around 50% higher yields on Treasury income and tight budgeting and execution of cost controlling measures; moved to a system of quarterly audits.
• Handled SEBI Inspections, renewal of license for USE, cleaning up of USE activities and other related activities From December 2010 to March 2012 (1 year 4 months) Senior Associate - Corporate Affairs & Compliance @ • Set up United Stock Exchange, the 4th Stock Exchange in India with nationwide presence.
• Worked with the CEO to raise equity capital of close to INR 1.5 billion
• Structured a new business model for USE with the first Exchange services outsourcing model employed in India, in conjunction with BSE
• Approval from the Securities and Exchange Board of India [SEBI] as a Stock Exchange and authorisation to undertake trading of currency futures from Reserve Bank of India [RBI]
• Created Product/contract specifications of Currency Derivatives Segment (4 currency pairs: USD-INR, Euro-INR, GBP-INR, JPY-INR), Interest rate derivatives and Currency Options for USE
• Classification by RBI as part of institutions forming crucial financial infrastructure and hence excluded from aggregate Capital exposure & direct investment ceiling
• Compliance with MIMPS Regulations and established the same with SEBI
• Approval to commence trading in Exchange Traded Currency Options on USD-INR Spot Rate From April 2009 to December 2010 (1 year 9 months) Mumbai Area, IndiaSummer Intern @ The main scope of the project was to come up with Margin Calculations for USD-INR Futures Contracts and provide as a base for subsequent currency pairs.
• Volatility Estimation of Currency Futures
• Volatility of current Spot market
• Calendar spread of forward market
The projects involved modeling using GARCH and EWMA models and Generalized Error Distribution
Contributed actively regarding interactions with foreign emissaries which include Japanese delegates and Indian Entities including NSE.
Work included and acknowledged in REPORT OF THE RBI-SEBI STANDING TECHNICAL COMMITTEE ON EXCHANGE TRADED CURRENCY FUTURES available on RBI, SEBI, FIMMDA and other websites. From April 2008 to June 2008 (3 months) Summer Intern @ Designed the process of collection of Miscellaneous Air Supplier Revenues for the travel business in the European Region
• The process is also currently being leveraged in the Japan Asia-Pacific market
• Was designated as Project Head, led a team consisting of 2 Team Leaders
♦ Execution of the process resulted in an immediate loss avoidance of $350,000 in a short period of 2 months
♦ The cumulative loss avoidance till 2007 being over $1,000,000
• Reported directly to the VP and Business Leader and was rated ‘excellent’ on the grounds of oral and written communication, initiative and drive, analytical skills and awareness of environment in industries
Evaluated and given the highest possible overall rating of ‘excellent’ by the VP and Business Leader From April 2007 to June 2007 (3 months)
MBA, Finance @ Indian Institute of Management, Ahmedabad From 2007 to 2009 B. Tech, Electronics & Electrical Engineering @ Visvesvaraya National Institute of Technology From 2002 to 2006 Piyush Chourasia is skilled in: Capital Markets, Derivatives, Equities, Corporate Finance, FX Options, Fixed Income, Business Strategy, Business Development, Compliance, Risk Management, Finance, Investments, Legal, Stock Exchange, Regulatory Policy
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