In the dynamic world of financial technology, Shachi Sayata stands out as a pioneering Senior Product Manager, specializing in risk management for high-stakes financial markets. She has played a critical role in the development of sophisticated risk systems, designed to support the smooth clearing of billions in daily transactions. Her impactful work has enhanced transparency and security across the financial industry, making her a highly respected figure in FinTech.
Q. 1: What initially drew you to the FinTech sector, and how did you get started in product management?
A: My initial draw to FinTech was the unique fusion of technology and finance, two fields I was highly passionate about. With a Bachelor’s in Information Technology, I recognized early on the tremendous potential to innovate within finance by leveraging technology. My journey into product management started with projects that required a deep understanding of both domains, leading me to appreciate the pivotal role of product design in shaping financial solutions. The chance to influence and refine products that impact millions has been incredibly rewarding.
Q. 2: Can you tell us about your role and some of the most significant achievements you’ve had?
A: In my current role, I focus on developing risk management solutions for complex financial products. One of my most significant achievements has been leading the creation of a robust risk margin methodology specifically designed for CDS Index Options. This development has projected annual revenues of $50 million, showcasing the strong business impact of innovative risk solutions. I also engineered a parameter management solution that reduced operational risk by 90%, and developed a dashboard that allows seamless monitoring of liquidity and collateral—a major enhancement in transparency and operational efficiency.
Q. 3: What is your approach to product development, particularly when dealing with high-stakes financial products?
A: My approach is centered on precision and user-focused design. In high-stakes financial environments, every detail matters. I place a strong emphasis on understanding user needs through interviews and journey mapping, ensuring our products align with user requirements and organizational goals. I start with prototypes built on tools like Excel, VBA, or MATLAB to rapidly test concepts. Once a foundation is laid, I work closely with quality assurance teams to ensure compliance with regulatory standards. This collaborative and iterative approach has been key in successfully launching products that meet the rigorous demands of the financial industry.
Q. 4: How do you manage collaboration with cross-functional teams and external stakeholders?
A: Collaboration is integral to delivering successful products. I lead diverse, cross-functional teams, including developers, QA engineers, business analysts, and external stakeholders. My management style relies on clear communication, ensuring that everyone understands the project’s goals, timelines, and individual responsibilities. Regular updates help keep the project aligned with our targets, while timely issue resolution is essential for keeping everything on track. I also actively present our projects to industry-wide groups and clients to foster support and facilitate smooth adoption of our solutions.
Q. 5: Risk management is a central aspect of your work. How do you approach risk in your product development process?
A: In my work, risk management is integrated throughout the product development process. I aim to create systems that not only measure risk but also empower users to control it effectively. For example, I designed an interface allowing both internal and external users to analyze daily risk exposure, aligned with the organization’s risk management framework. I also prioritize scenario analysis and rigorous backtesting to ensure our systems can withstand various market conditions. This approach is essential for creating resilient systems that serve our clients' long-term stability.
Q. 6: Can you walk us through a project where you had to balance technical development with regulatory requirements?
A: One project that stands out involved automating the daily price discovery process for energy derivatives. This project required a careful balance between technical development and compliance with strict regulatory standards. I collaborated closely with regulatory experts and ensured our solutions adhered to reporting standards while streamlining the overall process. My hands-on role in the testing phase was crucial, enabling us to deliver a solution that was both compliant and efficient, meeting the industry’s stringent demands.
Q. 7: How do you stay updated with the latest trends in technology and finance, and how do you apply them to your work?
A: Staying current in both technology and finance is essential in this fast-evolving field. I make it a priority to attend conferences, read industry publications, and participate in webinars. Networking with peers also keeps me connected to industry developments. When I learn about a new trend or technology, I consider how it can improve our products. Tools like PowerBI and Python have, for instance, become vital for data analysis and enhancing the user experience, enabling us to deliver solutions that keep pace with industry advancements.
Q. 8: What was your experience working in international financial markets, and how did it shape your career?
A: Working internationally has been instrumental in broadening my perspective on financial markets. My early work in India with Netmagic Solutions gave me a strong foundation in managing enterprise-wide systems, where I developed a Change Management Module that drastically reduced turnaround times. These experiences taught me the value of agility and efficiency in product management. Exposure to various markets has given me insights into diverse regulations and client needs, shaping my ability to adapt solutions for a global market.
Q. 9: How do you measure the success of a product or system after its implementation?
A: Success is measured through multiple lenses. Primarily, I evaluate if the product fulfills the business requirements and resolves user pain points. Metrics such as user adoption rates, stakeholder feedback, and key performance indicators—such as operational risk reduction and revenue impact—are crucial. For instance, our CDS Index Options risk margin methodology led to projected revenue gains and high user satisfaction, indicating its success. Ultimately, a product is successful when it delivers both business value and end-user utility.
Q. 10: What advice would you give to aspiring product managers looking to enter the FinTech industry?
A: My advice would be to build a solid foundation in both technology and finance. Understanding financial mechanisms is as important as grasping the technical aspects that power them. Communication skills are also crucial, as you’ll often work with diverse teams and need to convey your vision clearly. Lastly, remain curious and adaptable; FinTech is a rapidly evolving space, and a commitment to continuous learning will be invaluable for long-term success.
About Shachi Sayata
Shachi Sayata is an accomplished product manager with a focus on risk management systems in the financial sector. She has led the development of solutions for clearing billions in daily transactions, creating a significant impact on operational efficiency and financial transparency. Among her achievements, Shachi has developed a risk margin methodology for CDS Index Options, projected to yield $50 million in annual revenue, and successfully engineered systems that reduced operational risk by 90%. With a Master's in Finance from the Illinois Institute of Technology and an MBA in Technology Management, she combines a deep understanding of both finance and technology.
