Problem: BODY: Dave, I am sending you my accomplishments for the last year. I am including also one document (just browse through it quickly) to give you a flavor of some projects I have been working on. I shall send you shortly an additional document I would like you to browse through (the list of projects my group works on in a typical week) to give you more information about the scope and depth of what we do. It's an internal document and I want to clean it up Merry Christmas and a Happy New Year to you and your family. Vince
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A: SUBJECT: Accomplishments, Vince Kaminski

Problem: BODY: As an FYI for those not already in the loop, new factors for VaR have not been implemented since some time in April, and it seems the process of administering them is foggy. So here is an outline of the R&R and required technology to support the administration of factor loadings: Broadly, I have assumed that Global Risk Ops can run the process. However, exceptions can take one of two forms: Large jumps in VaR due to bona fide changes in correlations; Pathologies in the matrix construct supporting factors; For either, tools are required for users to examine the exceptions and make changes as necessary (generally Global ops in the former case and RAC/Research in the latter). Note that the IT Development group has no part in this business process beyond building the tools. Lets use this as the starting point to develop a business model that makes this work. Rgds DP
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A: SUBJECT: Factor Loadings Process

Problem: BODY: Attached is a clean and a blacklined draft of the BETA. This draft was created using the new BETA form, and the blackline compares this draft against the form. I have also attached a blackline from the intial draft we sent counterparty to the draft we are sending counterparty now, in case you want to show them all the changes from that draft. That blackline is called prebon.red below.
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A:
SUBJECT: Revised Prebon BETA