Advisors
Bin Hong
Dr. Hong is a Senior Vice President and head of Quantitative Research and Development at Union Bank. In his current role, he is responsible for the monthly market value and risk assessment of the whole balance sheet of tradable securities, interest rate derivatives, whole loans (consumer and commercial), and deposits (consumer and commercial). He also serves the consulting role to Controller’s 10K fair value filing and the BASEL II implementation.
Dr. Hong received a Ph.D. in Applied Mathematics and worked as a modeling expert in the Consumer Electronics business, before joined Bank One as a quant to model interest rate derivatives and mortgages in 90s. He then took a market risk manager position at Bank One Capital Market to cover various trading desks for a range of instruments (Equity, Commodity, Interest Rate, and Credit Derivatives; High Yield Corporate Bonds). He also held oversight positions for both the secondary residential mortgage pipeline operation and the secondary commercial loan trading and syndication. On ABS securitization, he was involved in sales of Bank One’s legacy Jumbo mortgages for CMO, the evaluation of market value and counterparty risk and collateral monitoring of asset replacement of the 1st Bank One CLO facility; and he also advised the formation of several warehousing of ABS deals at Bank One.
At the onset of mortgage booming in 00s, Dr. Hong joined Federal Home Loan Bank of Chicago as a Managing Director for daily trading risk management of $100 Billion asset size balance sheet hedging and mortgage research. As a market maker of MPF loans, he controlled the daily MPF trading curves closing and the daily P&L attribution for three years. He also established research collaboration with AFT, the former LPS Analytics.
During his career, he has validated and implemented many risk systems, e.g., QRM, Summit, Calypso, Murex, RiskMetrics, Ploypath, Blackrock, Lehman Point, and Bloomberg. He maintains active dialogues with regulators (OCC, Finance Broad) and was invited as a speaker on model risk at OCC’s annual internal training conference. He has also kept very tight contacts of latest research developments from rating agencies (Moody’s, S&P, and Fitch) on credit risk in this credit cycle.
Preston Miller
Preston Miller
is a senior finance and operations executive with over 19 years of experience in consumer finance. He has developed an impressive record of consistently delivering shareholder value through strategic leadership, business growth, sound operational management, financial knowledge and his ability to create winning partnerships.
As the Executive Vice President/COO of Americredit Corporation, Preston used his strategic and visionary skills to expand business opportunities, broadening product lines and developing new finance channels. He successfully helped to restructure the organization while increasing efficiency and boosting originations, led two strategic acquisitions, overhauled the pricing strategy to be more flexible and market specific and launched a profitable new product line. His multi-pronged growth strategy is credited with increasing core loan originations from $5 billion to $7.5 billion.
Preston joined Americredit during its start up stage as a Controller and moved quickly through the professional ranks to become CFO and Treasurer. He was known as a tough negotiator and for having a keen mind for complex financial structures. As a key executive officer he helped to build a $16 billion portfolio and to achieve unprecedented profits in the consumer finance market while maintaining a high level of customer satisfaction.
In his financial roles he led the company through over 15 years of growth and change including mergers & acquisitions, turnarounds, joint ventures, business unit and department start-ups, restructures and an IPO. He was able to create dynamic financial platforms which improved structured transactions while reducing risk and increasing returns on shareholder equity.
Prior to his roles at Americredit he worked with a major accounting firm as an auditor and audit supervisor where he had the opportunity to work with a variety of industries including oil & gas, manufacturing, non-profit and financial services.
Preston received his Bachelor of Business Administration in Accounting from Texas Christian University of Fort Worth, Texas. He has an active CPA certification in Texas. Board memberships include United Pan Am Financial Corp Board, AICPA, TCU, The Neely School of Business International Board of Visitors and ASFA Vehicle Finance Board where he served as Chairman in 2008.
