Sebastián Parot – 09 871 5259

SEBASTIAN PAROT BECKER

Camino Buenavista 3960 B, Lo Barnechea, Santiago, Chile

Cell phone: 09-8715259; e-mail:

Summary

MBA from MIT (Massachusetts Institute of Technology) with a business administration degree in the University of Chile, with long proven experience in executive positions in multinational companies regarding the administration of international business, particularly in Latin America and Asia, with specialization in finance, development of strategic initiatives and in mergers and acquisitions evaluations. Highly skilled for strategy development, lead change and manage initiatives and multitask team projects. With proven skills to work with different cultures and in different ownership structures, from 100% controlled companies to minority stake joint ventures, showing leadership, political skills and technical knowledge to make things happen as planned. Fluent in English and used to work in Portuguese. Familiar with USGAAP and SOX.

Work Experience

Los Heroes Caja de Compensacion (consumerbanking)

Chief Financial Officer2009 – 2011

Responsible of five areas, leading more than 150 people: Finance, Risk (consumer and corporate), Administration (Acquisitions, Payments and Infrastructure), Accounting and the subsidiary Recreactiva, which sells recreational services to Los Heroes affiliates.

  • Los Heroes profit growth. From mmUSD16.6 to mmUSD50 a year between 2008 and 2010
  • Risk rating improvement. From A to A+
  • Recreactiva. Focused the company externalizing the back office functions (administration, accountability, acquisitions, payments, operations and technology), activities that were hired to Los Heroes, which helped develop its four business lines, improving the product mix, the productivity of channels of distribution, increasing sales (30%)
  • Risk return model. This model was developed to quantify and rank the affiliated companies according to the value they added to Los Heroes, adjusted by delinquency rates and expenses. This way, more than 8,000 affiliated companies were evaluated, one by one, reaching astonishing conclusions, which helped focus the sales activities as related to the corporate segment and were designed different service models based on the relative value of the client for Los Heroes.
  • Administration. A structural change was made in the area, to transform it from an operational area to one based on value added management. Repetitive, low value tasks were either automatized or externalized. In Acquisitions it was developed a centralized purchasing model which produced important economic savings, more services, the formalization of commercial relationships through contracts, an important decrease in the total number of service providers (more than 1,500), and a new relationship with strategic providers, focused on the long run.
  • IPS auction (Instituto de Prevision Social, a government institution that pays pensions to Chileans). Lead the implementation of 212 new offices throughout the country in 5 months, for a total investment of mmUSD80.
  • Treasury and Money Desk. Business gross spread (difference between average credit rate and funding cost) remain steady around 150 monthly basis points in spite of the market interest rate fall; diversified funding sources reducing the historical strong reliance on bank credit (from 80% to 50%); and issued securitized bonds (mmUSD115) and commercial paper (mmUSD20).
  • Risk. A structural change was made in the area, including people and technology, to improve Los Heroes ability to analyze our customers and make better and more focused credit offerings: datamart, scoring models, etc.

Principal International (PI)

Chief Investment Officer of PI, Santiago, Chile2008

Chief Investment Officer of PI, Des Moines, USA2006 – 2007

With oversight responsibilities on PI global investment activities. PI is a Principal Financial Group (PFG) subsidiary that owns the companies outside the US, with presence in Chile, Mexico, Brazil, India, Hong Kong, China and Malaysia, with USD 30 billion in assets under management and USD 110 million in operating earnings.

  • Integration of PI investment areas with the US operation: the whole purpose was to leverage the US expertise in financial, accounting and legal analysis of structured notes, securitizations, global names issuers and securities with embedded options.
  • Business risk reduction: lengthening of asset portfolio and getting cash flows that better matched the liabilities, which reduced business risk by 90%.
  • Asset and liability management: leader of the initiative that introduced the asset and liability management in PI member companies’ investment decision-making process, bringing to the discussion all relevant areas such as investments, actuary and finance.

PI Chile – Strategic Planning Director for Latin America2004 – 2005

Responsible for leading the strategic planning process, high level initiatives and financial projections of Latin America and for participating in non organic growth opportunities final discussions.

  • Financial information use: the month end closing process changed from an exclusively operational accounting activity, to a business evolution presentation based on financial information, which is made available on the fourth business day every month. This substantially improved the understanding of the business and the ability to make timely decisions.
  • Strategic planning: consistency in the whole process of the region (LA) made the discussions a lot easier, including ideas generation and the preparation to talk to the headquarters.
  • Mergers and acquisitions: member of the team that evaluated a number of non-organic growth opportunities such as potential acquisitions, distribution and service agreements.

Principal Vida Chile - Corporate Treasury2003

Responsible for leading the area’s restructuring process to a new business model known as Corporate Treasury, which includes treasury operations, custody, financial services provider administration (banks, brokerage, custody) and the short term investments trading activity. The Chilean Corporate Treasury includes the three companies of the group: Principal Vida, Principal AGF and Principal Mortgage Loan Company.

  • Leader of the evaluation of the remaining percentage to purchase the mortgage loan company in order for Principal to control the whole company. This business was successfully executed.
  • Mutual fund integration: treasury and custody operations were integrated with no impact on customer service in spite of a huge cultural, team and technology change and that we did not have any previous expertise on the mutual fund business; this helped management focus on growth very quickly.
  • Mutual fund front office, back office and accounting system change: project leader from identifying the business need, internal approval, selection and negotiation with potential vendors to the implementation that met the goals of the plan, in timing as well as quality standards required by the company.

Principal Vida Chile - Investments Manager1997 - 2000

Responsible for the creation of the money desk, which included the following functions: short term funding of the company, formal markets asset portfolio management and annuities pricing (sales rate). Devoted to seek, structure, negotiate, model and present investment opportunities for approval to the Investments Committee. Company representative at road shows of issuers aiming to sell long-term bonds.

Bank Boston (currently ITAU)

Head of Fixed Income at the Money Desk1993 - 1996

Mainly four functions: short term funding of the bank, pricing to sales areas (marginal time deposit rate, cost of funds, etc.), fixed income trading portfolio management and asset and liability management, which included all currencies at all maturities.

AFP Provida, Chilean largest pension fund

Money Desk Trader1990 - 1992

Money Desk Trades (1991 – 1992)

Investments Analyst (1990)

Studies

MBA, MIT, Boston2001 - 2002

Business Administration, University of Chile1985 - 1989

Languages: fluent in English and advanced Portuguese