Capabilities
Eight service lines, designed to be deployed together.
A 90-day Core Architecture Mandate stands up the governance and balance-sheet spine. Additional modules (overlay program, counterparty stack, capital-markets advisory) activate as the relationship deepens.
Governance Spine
We define decision rights, sizing limits, approval workflows, and an audit trail the board can defend in front of any regulator, auditor, or successor CFO.
Deliverables
- ›Decision-rights memo (who can authorize what, at what size)
- ›Sizing matrix (max notional, max premium spend, max gross delta)
- ›Approval workflow with named signatories per tier
- ›Audit-log template tied to the policy
Board Pack
One monthly document the audit committee, CFO, and chair all read from. Performance, scenarios, and capital-allocation recommendations in a format that survives auditor and counsel scrutiny.
Deliverables
- ›Monthly board pack (PDF) with reproducible scenarios
- ›Executive cover memo and decision asks
- ›Quarterly deep-dive with stress test results
- ›Annual review of policy fit and proposed amendments
Derivatives Governance
A derivatives policy that authorises the full toolkit (volatility, futures, swaps, structured products, financing trades) with explicit sizing rules, roll cadence, regime triggers, and reporting. Designed so the program survives auditor scrutiny and personnel turnover.
Deliverables
- ›Written derivatives policy v1, board-ready, scoped to all permitted instruments
- ›Regime-trigger framework with pre-defined responses
- ›Roll calendar and exception-handling procedure
- ›Standardized monthly reporting tied to the policy
Balance-Sheet Architecture
Liability mapping, forced-sale avoidance, liquidity buffers, and a capital-structure design intended to hold together through a regime change rather than a stress test.
Deliverables
- ›Liability ladder analysis with maturity-stress overlay
- ›Liquidity-buffer sizing memo (against scenario benchmarks)
- ›Capital-structure recommendation (issuance windows, convert terms)
- ›Forced-sale-risk register with mitigations
Capital-Markets Advisory
Convexity and risk consultations on proposed financings, equity issuance, converts, and balance-sheet transactions. Pre-trade, not post-mortem.
Deliverables
- ›Pre-trade convexity memo on each proposed transaction
- ›Counterparty term-sheet review and negotiation support
- ›Risk-and-scenario report on accepted terms
- ›Post-close monitoring against modeled outcomes
Convexity Audit
An audit of the existing book to identify asymmetric payoffs already on the balance sheet, hidden short-vol and basis exposures, leverage hidden in financing structures, and the cheapest places to add or shed convexity across instruments.
Deliverables
- ›Position-level convexity map across the book (vol, futures, financing)
- ›Hidden short-vol and embedded-leverage exposure register
- ›Ranked list of cheap convexity additions and unwinds, cross-asset
- ›Quarterly refresh tied to regime monitoring
IR & Disclosure Posture
How the company talks about its derivatives program, hedging, and balance-sheet posture — to the market, to lenders, and to its own investors. The disclosure language matches what the policy actually authorizes across instruments.
Deliverables
- ›Earnings-call language for the derivatives program
- ›Risk-factor and MD&A inserts coordinated with counsel
- ›Investor-letter / shareholder-update templates
- ›Lender briefing package and Q&A prep
Counterparty Stack
Multi-counterparty access across the full derivatives toolkit (OTC options, futures, swaps, structured-product desks, financing counterparties), ISDA / CSA negotiation support, pricing discipline, and execution workflows. Structural pricing power, not relationship optionality.
Deliverables
- ›Counterparty scoring rubric (credit, pricing, workflow, product-depth across instruments)
- ›ISDA / CSA negotiation playbook with the four clauses that matter
- ›Multi-dealer pricing record kept on every roll, every leg
- ›Execution workflow document and exception log
How an engagement runs
Ninety days to a defensible chassis. Annual term thereafter.
The Core Architecture Mandate is a 90-day engagement that stands up the spine. Engagements thereafter run on a 12-month initial term with annual renewal; either party can wind down with sixty days’ written notice. Non-discretionary throughout. Custody never with us.
Days 0–30 · Diagnostic
Balance-sheet diagnostic, decision-rights memo drafted, sizing matrix v0, counterparty inventory.
Days 30–60 · Policy
Derivatives policy v1, board-pack v1, ISDA gap analysis, IR posture review aligned to the policy.
Days 60–90 · Activation
Policy adoption at the board, overlay program design, counterparty introductions, first board pack delivered.
Year 1+ · Cadence
Overlay live and monitored, monthly board pack, ongoing convexity advisory on every proposed transaction.
Start with the governance spine.
Engagements begin with the spine and expand as the work earns it.
Engagements are limited to accredited investors, qualified clients, and qualified eligible persons.