Job DetailsRisk Management: understanding all risks – from the economic to the political – that could affect our global business, and offering guidance to all parts of the bankJob PurposeThe role requires the incumbent to take responsibility for identifying, measuring, managing and reporting market risk exposures, relative to a predetermined risk appetite, across the Credit Derivatives and CCP desks. In order to do so, optimum use is required to be made of risk, front office and reporting technology, in addition to which daily interaction with the trading team(s) and other related business support functions will be necessaryKey Responsibilities/AccountabilitiesManage and ensure compliance with market risk policies and procedures as it relates to the Credit Derivatives and Counterparty Credit Pricing desksComplete accurate and relevant risk reporting for the Credit Derivatives and Counterparty Credit Pricing desks, daily, monthly and periodic reports.Ensure matters arising from weekly trader meetings are proactively included as input into weekly GM heads discussions.Ensure relevant, meaningful and insightful commentary is included in all reports (daily, weekly, monthly etc.) relating to market risk changes and profit and loss attribution.Ensure effective and comprehensive price validation of liquid risk drivers (daily) and illiquid risk drivers (at least monthly).Follow-up on appropriate breaches to ensure positions are brought in line with or agreement reached where not brought in line.Monitoring of back-testing exceptions together with action taken to resolve when exceptions move to a red gradingAssist Global Markets Finance to resolve P&L differences between front office systems and finance where necessary.Annual, and ad-hoc, product and limit mandates review including the Head of Market Risk, Head of Global Markets and trading desk head.Enhancement to reporting process to ensure accuracy of reported risk exposures and prioritise automation with relevant IT teams as required by BCBS239 principles.
Responsibilities + Skills
Provide commentary explaining changes in output with respect to changes in trading positions.