Increasing Transparency in the OTC Derivatives Market
Jan 15, 2019
Priya K. serves as the APAC Product Lead for DTCC’s Global Trade Repository (GTR) business and works in Singapore. Priya and her team play a key role in managing GTR for the APAC region, including services in Australia, Singapore, Hong Kong and Japan. Apart from her product management role, Priya also oversees DTCC’s Women’s Initiative for Networking and Success (WINS) group across Asia, and is co-Site Lead for DTCC Singapore.
We recently had the opportunity to chat with Priya about her role and how DTCC has become a critical trade reporting service provider, reducing risk and increasing transparency across the industry.
Q: How important is your team to the advancement of DTCC’s risk management capabilities for our clients and the industry?
Priya: Several years ago, DTCC delivered a trade reporting solution, GTR, for a set of derivative financial products that were previously opaque and cited as a key area of risk following the global financial crisis. DTCC worked with clients, regulators and the industry to develop the offering in order to further reduce risk in this critical area. Today, these financial products have grown to a value of over a trillion dollars.
Each day, my team and I work to support this service in Asia. And I am proud to work with a highly skilled team that brings a diverse set of capabilities and experiences to our tasks. We play an integral role within the organization by creatively balancing customer advocacy, regulatory requirements and our product and technology roadmap. I work with extremely dynamic individuals who are laser focused on risk management and who are fantastic client advocates.
Q: What’s the key role you’ve played on your team and through your role, how have you delivered significant benefits for the clients and industry?
Priya: Over the course of my career, I have been able to develop a diverse background, having worked in financial institutions and with regulators in the US and in Asia. As the APAC Product Lead for DTCC’s GTR business, I have been fortunate to have the opportunity to guide a committed team with skills and capabilities as diverse as mine. In today’s complex environment, I believe our backgrounds enable us to better serve and deliver solutions to our clients.
One key project that my team delivered over the last year was the introduction of a re-architected GTR platform in Singapore and Australia. We worked closely with senior leadership and our global product and technology teams to ensure successful delivery and implementation in Asia. We ensured we leveraged a “client-centric” approach to our delivery plan from the beginning, and have focused our attention on fully capturing user stories and client journey maps as we continue to enhance the service. It is through this iterative and holistic approach, guided by customer feedback and needs, that we achieved a timely delivery and generated positive feedback across our community.
With the re-architecture project, we will be able to provide our clients with improved usability and an enhanced client experience through increased transparency and access to data. We placed a lot of attention and effort on engaging with the industry around the world throughout this process to make these changes as simple as possible.
We are a big part of this ecosystem. The easier we make things for our clients, the less burden it is on firms – and it enables us to continue to deliver more value.
Q: Why is DTCC your ideal workplace?
Priya: DTCC is a great place to work. In all my years in the US and in Asia while at various financial institutions, I never experienced a truly collaborative work culture that we have here. I feel there is a unique DNA at DTCC that not only fosters teamwork, but encourages diversity in beliefs and backgrounds.
Because of this inclusive environment, I have made impactful contributions in key areas in a relatively short period. This is truly indicative of a dynamic work culture that encourages active participation and proactive, innovative thinking.
Our organization - from our CEO to the associates we hire - is very focused on teamwork and collaboration throughout the product lifecycle and in how we serve our clients. What I like about the firm is that we have a relatively flat structure and we are encouraged to interact and add value, irrespective of our seniority or tenure.
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