In-Business Risk For Futures, OTC Clearing And FX Prime Brokerage (Director/C15) New York, NY

Job Purpose:

• Individual will be a senior resource in NAM In-Business Risk (IBR) responsible for measuring, monitoring and controlling risk for Futures, OTC clearing and FX Prime Brokerage business.
• Analyzing portfolios and businesses, (with a focus on counterparty and liquidity risk), to ensure the risks are being properly measured and controlled in accordance with the firm’s risk policies.

Job Background / Context:
In-Business Risk (IBR) is a global team supporting the Futures, OTC Clearing (FCC) and FX Prime Brokerage businesses. To fulfill this role, a Risk professional is required who has strong listed and OTC derivatives product and risk knowledge and experience with margin models, counterparty risk management in Commodities & Equities Markets.

Key Responsibilities:

• Act as global lead for all Interest Rates & Credit Derivatives risk within FCX .
• Monitor client portfolios to ensure that risks, primarily market driven counterparty risk and liquidity risk, but also documentation, legal and reputational risks are controlled.
• Perform regular risk reviews incorporating counterparty and liquidity risk measures, including scenario stress testing and sensitivities analysis, as well as adequacy of margin collected from clients.
• Establish limit structures/controls and processes to ensure that clients operate within limits.
• Build real-time risk and margin controls and processes to monitor automated client trading flows.
• Work with clients and Salespeople to size portfolio risk, regulatory capital requirements and margin levels for new client business.
• This role includes a fair amount of client interaction and it is expected this individual will be comfortable operating at senior levels with internal and external constituents.
• Work closely with Credit risk management on onboarding new clients, sizing appropriate limits and escalating issues with existing clients.
• Measure funding liquidity risk for client portfolios using a stressed liquidity model
• Working with partners in market risk and credit risk, develop and utilize models for accurate measurement of clients’ overnight exposure using VaR, scenario stress testing, sensitivities and liquidation costs.
• Put together presentations and documents for internal and external use on various topics including describing the functions of those groups (first and second line) which manage/monitor Risk, including periodic review of the control environment, vetting of new systems, processes, policies and procedures associated and related to market and/or credit risk and ensuring they are in sync with market practices.
• Continuously maintain, update and ensure full compliance with In Business Risk Procedures manual
• Prioritize risk management product development requirements with partners in product development and IT

Development Value:

• Business is in a strong growth phase giving the right candidate an opportunity to expand the role as the business grows.
• Learn about new products that are being added to Clearing
• Build solid market/credit risk experience using cutting-edge risk models and techniques

Knowledge/Experience:

• Strong knowledge of Exchange Traded Derivatives (ETD) and OTC Derivatives relating to Interest Rates & Credit. This includes Nonlinear products including Exotics.
• Relevant market risk or counterparty credit risk experience on ETD and OTC derivatives.
• A knowledge of commodity and energy products preferred. Fixed income, foreign exchange and equity products is desirable.
• Trading experience desirable.
• Ability to engage at senior levels internally and with external clients to facilitate key relationships.

Skills:

• Development and implementation of class leading risk methodologies and technology.
• Strong analytical skills with good attention to detail and a demonstrated aptitude for tackling analytical issues through quantitative modelling and assimilation of data into a working product.
• Ability to work well with cross-functional teams from Product, Sales, Credit, Operations and Compliance.
• Strong written and verbal communication skills.
• Ability to maintain a balance of risk and reward to facilitate business growth while effectively managing risk.
• Scenario stress testing skills essential and instrument modelling skills are desirable.
• Strong Excel skills ideally incorporating VBA (Visual Basic for Applications).

Qualifications:

• Bachelor’s degree required.
• Masters / PhD in Mathematics, Science or Finance/Economics is highly preferred.

Competencies:

• Good communicator.
• People Management
• Entrepreneurial.
• Strong analytical skills.
• Strong problem solving abilities.
• Ability to manage a global team.
• Excellent written and oral communication skills.
• Ability to work independently as well as in a team environment.

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