1. TANZEEL UL REHMAN
Flat No. 506/1, Bait-ul-Hina, Gulestan-e-Jauhar, Block No.18, Karachi
 03333045733  tanzeels@gmail.com
EXECUTIVE SUMMARY
COMMITMENT | INTEGRITY | LEADERSHIP
A young energetic and goal oriented person, already accumulated four years of responsible Risk
Management, Regulatory Compliance and Operations experience coupled with a diverse education. An
expert in designing business processes/models and implementation of necessary controls to ensure
stringent risk management and compliance. A proven track record of designing risk models, monitoring
Capital Adequacy and Collateral valuation. Dedicated to maintaining a reputation built on quality of
work, service and hard work.
AREAS OF EXPERTISE
 Risk Management  Regulatory Compliance  Number Crunching/ Excel Markro
 Calculation of VaR  Operations Management  Capital Development Planning &
 Valuation & Modelling  Clearing & Settlement Budgeting
 Development of Operational Manual
PROFESSIONAL EXPERIENCE
KARACHI STOCK EXCHANGE (GUARANTEE) LIMITED January 2007 – Present
ASSISTANT MANAGER – RISK MANAGEMENT (2008 – PRESENT)
 Monitoring Exposure Margins and Position Limits
 Calculation/Monitoring of Value at Risk (VaR)
 Compliance & Monitoring Capital Adequacy Requirements
 Designing Business & Risk Models
 Valuation of collateral and periodic review of forms of collateral ( Margin Eligible Securities and Open end
mutual funds)
 Monitoring the Clearing & Settlement of all trades executed through the Exchange
 Design and review Concentration Margins and Liquidity Margins
 Product research & development, defining business process for the development of application and
coordination with I.T department for UAT of new processes
 Coordination with external Auditors on Regulatory & Risk Management practices
 Preparation of Department’s Capital Development Plans and Annual Budget
 Drafting Settlement Schedule for all Markets
 Coordination with NCCPL on F.I. Margining System
 Preparation of Departments’ Operational Manual
ACHIEVEMENTS:
 Designed & Implemented Value at Risk (VaR) model for calculation of Exposure Margins for Equity and
derivatives products
 Worked on designing & Implementation of Concentration & Liquidity Margins
 Designed and implemented the automation for Margin release and Client Level Margining Regime
 Prepared Department’s Operational Manual
 Worked with the team responsible to design & implement the Risk Management system of Karachi Stock
Exchange (Guarantee) Limited
CONTINUED …

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 Worked on Demutualisation Project (Valuation, Growth Forecast based on CAGR method) of Karachi Stock
Exchange (Guarantee) Limited.
 Worked with Deloitte Touché Tohmatsu as Chief Coordinator for the audit of Risk Management and
Clearing House processes.
MANAGEMENT TRAINEE OFFICER (2007 – 2008)
 Exposure Management and Position Limits
 Compliance and Product Testing
 Research and Product Development
 Documentation of NCB Certificates.
 Review of Bank Reconciliation
 Clearing & Settlement of all Markets
POPULAR INTERNATIONAL PRIVATE LIMITED August 2006 - December 2006
ACCOUNTS OFFICER 2006 - 2006
 Maintaining Accounts
 Budgeting
 Development of Capital Plans
 Coordination with regional offices
 Bank Reconciliation
PROFESSIONAL ORGANIZATIONS AND AFFILIATIONS
• Global Association of Risk Professionals – GARP
 Member of The Indus Entrepreneurs (TiE) Karachi Chapter
EDUCATION
CANDIDATE OF FINANCIAL RISK MANAGER (FRM®) – LEVEL – I November 2011
MASTER OF BUSINESS ADMINISTRATION (FINANCE)
 SZABIST Class of 2006
 3.25 GPA (84%)
BACHELOR OF BUSINESS ADMINISTRATION (FINANCE)
 SZABIST Class of 2002
 3.3 GPA (84%)
A+ CERTIFICATION (CORE HARDWARE & SOFTWARE)
 Pakistan Navy Engineering College. Class of 2004
 A Grade (92%)
 Ms Office (Word, Excel, PowerPoint)
 Basics of Networking
 Ms Windows (Win 98/me/2000/Xp)
PROFESSIONAL DEVELOPMENT

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 Attended three days training course on “Financial Derivatives ”
 Attended seminar on “Enterprise Risk Management”
 Attended TiE-Conference on Entrepreneurship
 Attended Corporate Finesse – 5 day workshop at SZABIST
INTEREST & REFERENCES
INTEREST: Reading (Newspapers, Magazines, Journals); Internet Research, Playing Cricket
LANGUAGES: Written & spoken English, Urdu and Sindhi
REFERENCE: References to be furnished upon request
PROJECTS / ACHIEVEMENTS DETAIL
Designing & Implementation of Value at Risk (VaR) Model
Value-at-Risk (VaR) measures the worst expected loss under normal market conditions over a
Specific time interval at a given confidence level. VaR is used to determine the Exposure Margins at
99% confidence interval to be collected from market participants against their exposure.
"Steps in Calculation of VaR"
1. Calculation of raw VaR using three different methods.
a. Historical Simulation (HS) using Percentile Method
b. Standard Normal VaR using 99% confidence interval
c. Risk Metrics Approach (Exponentially weighted Moving Average Method)
2. Calculation of Impact Cost to determine liquidity of Stock
3. Selection of Scale Up Factor
4. Calculation of Worst Case Margins
5. Final VaR
Designing & Implementation of Concentration and Liquidity Margins
Concentration Margins are payable by market participants in respect of their trading in a security in
Deliverable Future Contracts and Cash-Settled Futures Contracts markets, these margins are
charged at three tiers i.e. Market Wide, Member/Broker wide and Client wide determined on the
basis of Free Float and total trade in a particular company and the market.
The Liquidity Margins are payable by market participants once their Exposure limit in the Cash
market reaches at a certain levels.
These margins are determined and collected to minimize the potential loss to the clearing house
due to possible default by any market participants and ensures that they have enough liquidity to
settle their obligations.
Preparation of Standard Operational Manual of Risk Management at the Exchange
The primary aim of the Operational Manual is to provide a general understanding of the basic
policies and rules for managing Risk, the Manual serves as an operational guidebook for planning,
coordinating and monitoring the implementation of the Risk Management programs
The Standard Procedures are designed / prepared with a view to describe and document the set of
integrated procedures to perform a given operational functions in Risk Management Department of

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the Karachi Stock Exchange, as a requisite due to application and compliance of the relevant
Regulatory or Policy framework at the Exchange.
Automation of Pledge Release activity at Clearing House of the Exchange
An application was designed and implemented through which the release of pledged collateral is
processes electronically to bring efficiency, cost effectiveness and real time instantaneous
processing of collateral release request.
Client Level Margining System
Designed and implemented the Client Level Margining System, wherein all margin requirements of
each client are now be fulfilled from UIN-wise collateral pledged through sub-accounts of respective
clients. This mechanism was implemented in phase wise during the year 2009-2010.
The ultimate objective of the mechanism is to bring a climate shift from the previous level of
margining regime that was at the broker level to the Client/UIN level, whereby the related
trading/exposure capacity be available on the basis of UIN wise collateral positions in terms of
respective Sub-accounts or Cash deposits with the Exchange. The implementation of Client Level
Margining Regime has enhanced the risk management system of the Exchange and safe guarded
investors in the event of defaults.
Implementation of Risk Management System
The implementation of Risk Management System was a special project and achievement in the
sense that it involved coordination with a couple of other departments such as the Information
Technology Department, Internal Audit Department and the Operations Department. The
coordination effort involved discussions, reviews, follow-ups, post execution reviews and corrective
actions. There were various levels of the management wherein this work was related to and I had to
actively engage work flows with my seniors of within my department as well as other departments
as mentioned above. The kind of work related to core financial and statistical analysis with
emphasis on analytical and business impact analysis. The entire work at present is under
continuous monitoring and review for any hiccups and smooth functioning and numerous reporting
is made on a regular basis.
Stress Testing Model
Currently working on designing Stress Testing Model based on Risk arrays covering unusual
market movements and maximum possible loss in the event of default, this analysis would be
helpful in effective, efficient and timely decision in respect of emerged RM scenarios.
Valuation of Options
Determination of Pricing formula for European and American Options based on Black Scholes
Pricing model and Binomial Tree Risk Neutral Approach. The development of in-house application
for pricing European and American options will be designed, which will further strengthen the Risk

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Management system of the Exchange.