Candidate for
Council Member; City of Claremont

LLEWELLYN MILLER stochastics 585 West Twelfth Street Claremont, California 91711 (909)626-1839 (Voice) miller@cyberg8t.com

Professional Hisory

EMPLOYMENT

1995 to Present Independent Consultant, operating under the name stochastics

Recent/Current assignments:

Office of Federal Housing Enterprise Oversight (OFHEO) at H.U.D. -- Consultant (Intermittent Expert) attached to the Research and Capital Standards Office. This office is charged with carrying out the "soundness and safety" regulatory function for FNMA and FHLMC that flow from enabling legislation of 1992. I am helping them develop the interest rate risk components of the capital adequacy rules and tests as well as provide a corporate finance context and model architecture to regulatory issues.

Republic National Bank of New York -- Consultant to the Risk Assessment Committee helping them to select and implement market and credit management software.

1993 to 1995 Republic National Bank of New York, New York

First Vice President (Senior Swap Originator) Derivatives Products Group

Responsible for structuring, pricing, and developing hedges for derivatives-based structures for fixed-income and currency market clients and counter-parties

1990 to 1992 Sanford C. Bernstein & Co., Inc., New York, New York

Senior Portfolio Manager, Director of Municipal Bond Investments

Manager of strategy development and implementation for all portfolios containing tax-exempt securities including three mutual funds, three nuclear decommissioning trust accounts as well as numerous family trusts and individual accounts

1984 to 1990 Drexel Burnham Lambert, New York, New York

First Vice President, Fixed Income Research

Responsible for product development, marketing and operations of Portfolio Strategies Group - implementing optimization techniques and pricing methods to asset/liability selection and restructuring problems faced by financial institutions and pension funds. Direct development of new products, and pricing methodology for fixed income market.

Designed and developed Drexel Burnham Lambert High Yield Market Index. Instrumental in enhancement of Collateralized Bond Obligation (CBO) transactions.

1983 to 1984 Lehman Brothers Kuhn Loeb, New York, New York

Senior Analyst/Financial Modeling Specialist, Banking

Designed and implemented substantial computer-based models to analyze: limited partnership and other special products, performance of special securities, optimal dedicated portfolios of fixed income securities, generic debt refinancing.

1979 to 1983 American Telephone and Telegraph Co., New York, New York

Staff Manager, Treasury Department, 1981 to 1983

Conducted financial analyses that influence Bell System financial policies with respect to rates of return, capital structure, assessing innovative financing techniques, credit analysis, inflation accounting, taxation, dilution, cost of equity capital. Provided analytic and financial planning support to the Associated Company Treasury Organizations. Recommended policies to senior management on ramifications for Department of Justice-induced divestiture, financing needs of new subsidiaries and acted as liaison to bond rating agencies.

Staff Manager, Business Marketing Development, 1979 to 1981

Developed alternative pricing strategies for business switching products and services in conformance with overall market and product line strategies; determined data requirements for deriving decision parameters, willingness-to-pay and market demand forecasts; performed risk, decision and financial analyses; prepared the decision analysis and pricing recommendation document (i.e., the capital budgeting case).

1975 to 1979 Citibank, N.A., New York, New York

Manager, International Banking Group, 1976 to 1979

Supervised liquidation of repossessed real estate assets, including underwriting and administration of construction loans, property management and marketing.

Research Associate, to SVP, Economic and Political Risk Management, 1975 to 1976

NON-PROFIT

Chair, Finance Committee, Village Nursing Home (Greenwich Village, N.Y.) 1988 to 1993

EDUCATION

M.S. Stanford University, 1975, Engineering-Economic Systems included internship at New York City-RAND Institute, 1973 to 1974 as Associate Mathematician. Applied management science techniques to urban management.

B.A. Yale University, 1972, Operations Research, Mathematics and Statistics.