Kirstee's role in London

Vince:

This is precisely the concern I have for Kirstee. Steve tells me that she is
very imaginative and eager to try to add value, but she has no local
supervisor to help push some of her ideas. I will give you an update of our
discussion later and solicit your suggestions.

Grant.
---------------------- Forwarded by Grant Masson/HOU/ECT on 07/25/2000 09:07
AM ---------------------------

Kirstee Hewitt
07/25/2000 08:48 AM
To: Grant Masson/HOU/ECT@ECT
cc:
Subject: Meeting today

Hi Grant - as Anjam has set up a meeting for 9:30 your time how about we try
and talk afterwards. Originally we said 10:00 your
time but I guess that the MG meeting will take longer than half an hour. Are
you free around 10:30 your time ?

I think some of the communication problems I originally had with Anjam have
been resolved (although it was a difficult situation to interpret) however, I
would very much like to discuss the situation that I am in concerning my
immediate management.
I have felt that over the last month I have been floundering a little and
have not really been able to turn to anyone in London for direction
concerning VaR (although as expected Steve has been very helpful to give me
an idea on how to proceed theoretically). I do have many of my own ideas
although I think I need to obtain some kind of authority to start any
substantial work. At the moment I feel like I am doing a lot of small things
and am worried that at some stage someone is going to ask the question -
What exactly does she do over there in Research ???

I have talked to Rodrigo Lamas (RAC model validation new hire) and he has
helped me to focus on some points I had already made.
As a quick summary I have drawn up a memo which outlines some of the points I
think need to be addressed as far as the VaR model is concerned (I could do a
similar memo for the Credit Reserve model but to start have focused my
comments on Market Risk).
It is a bit rough and ready (pls excuse any appalling spelling mistakes!) but
I think it will help you to see what I have been thinking about since I have
been here.

I do think that the most important issue is that concerning the origin of the
vol/price curves and how they are constructed.

Cheers
Kirstee