Varun Parwal, FRM

Current

Research Analyst at Aranca Research Pvt Ltd

Past

Principal Analyst at Zacks Investment Research
Sr. Research Associate at Zacks Research Pvt. Ltd.

Education

Global Association of Risk Professionals
The CFA Institute
ICFAI University

University of Calcutta
Professional Risk Manager's International Association

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Varun Parwal, FRM’s Summary

Armed with the FRM and the Indian CFA certifications, I've over 40 months of experience in the equity research industry. Out of this, I've spent over 36 months covering U.S. stocks across sectors such as Defence (Boeing), Automotives (Ford & GM), Media (Time Warner), Electronics (Sony), Retailers (Wal-Mart & Home Depot), Beverages (Coca-Cola & PepsiCo) and Biotech & Pharma. Of the sectors covered, my core competency is in the U.S. Biotech & Pharma sector, wherein I've tracked a universe of 26 companies for a period of over 30 months. I also have experience of performing research on stocks across various sectors in the MENA region, West Africa and India.

Varun Parwal, FRM’s Experience

Principal Analyst

Zacks Investment Research

(Privately Held; 51-200 employees; Financial Services industry)

April 2007 — July 2008 (1 year 4 months)

• Report writing, financial modelling, valuation and determination of Ratings – Buy, Sell and Hold - of pharmaceutical and biotech companies trading on the NYSE and Nasdaq.

• Regular Interaction with Senior Analysts, Jason Napodano and Grant Zeng.

• Preparation of detailed reports on companies, including a Rating, Target price, Comparison with peer companies and a Projected Income Statement model with financial estimates upto 2010.

• Working with different valuation methodologies to arrive at a company’s Target Price, in-line with the company’s rating and supported by fundamental analysis, and using a range of valuation methodologies for comparisons with peer companies.

• Working on special reports. Reports published include a special report on the anti-obesity drug market and Hepatitis C market.
Sr. Research Associate

Zacks Research Pvt. Ltd.

(Privately Held; 51-200 employees; Research industry)

January 2006 — March 2007 (1 year 3 months)

• Leading a 10-member team responsible for the preparation and publication of MS-based Excel models and MS-Word documents on selected Pharma companies trading on the NYSE, NASDAQ and OTC markets in the USA.

• Preparation of MS-Excel models to include individual sell side analyst income statement models along with their estimates, ratings & target prices.

• Preparation of MS-Word documents to extract and summarize the key fundamental reasons presented by analysts for revenue and earnings growth, explain trends in estimates and valuation metrics used for target prices, and reason for particular rating on the stock covered in the report.

• Supervision of all work done by other members in the team.

• Providing start-up training to new members.

Varun Parwal, FRM’s Education

Global Association of Risk Professionals

Financial Risk Management (FRM) , Credit Risk, Market Risk, Operational Risk, Quantitative Risk , 2007 — 2008
The CFA Institute

Level II candidate , Portfolio Management; Equity Analysis; Financial Statement Analysis; Asset Management; Derivatives; , 2006 — 2007
ICFAI University

CFA, MFA , Financial Analysis, Security Analysis, Portfolio Management, Project Management, , 2004 — 2007
University of Calcutta

2001 — 2004
Professional Risk Manager's International Association

PRM Exam 1 , Finance Theory, Instruments & Markets