Market Risk Manager

  • Location:

    London, England

  • Sector:

    Banking Operations

  • Job type:

    Temporary

  • Salary:

    £60000 - £75000 per annum

  • Contact:

    Ben Barakauskas

  • Job ref:

    BB1705_1554110227

  • Published:

    3 months ago

  • Expiry date:

    2019-04-25

  • Startdate:

    ASAP

Role Purpose

  • The MRUD Team within the Global Markets Middle Office Risk Valuation Data Quality (i.e. GMMO RVQ) function are expected to; control, calculate, monitor, and report the BCBS 261 initial margin regulatory requirement at regional and group level.
  • The daily exchange of IM under the BCBS 261 requirement has been Live since 01/09/2016.
  • Hence, the requirement to engage in the extensive development and running of the end to end process flow of the daily IM exchange.

Key Accountabilities

Impact on Business

  • Performing OMV and ISDA Backtesting
  • Revieiwing & understanding the regulatory framework for BCBS 261
  • Working with all stakeholders on the End to End delivery of MRUD initial margin
  • Writing and Reviewing BRDs across functions
  • Engage in dispute resolution
  • Working in the development of GMMO RVQ framework for IM
  • Working on developing joint work with Collateral Management and FO

Customers / Stakeholders

  • Counterparts
  • Collateral Management/Operations/IT
  • Front Office
  • GRA (Group Risk Analytics)
  • Traded Risk function

Leadership & Teamwork

  • Coordinating daily submission
  • Liaising with all stakeholders
  • Ensuring completeness and quality assurance
  • Working on deliverying a high standard GMMO RVQ framework

Operational Effectiveness & Control

  • Ensure that deadline set for GMMO RVQ are delivered in a timely manner
  • Ensure completeness & accuracy of submitted data
  • Assist in the development of strategic tools
  • Perform a thourough review of the final data expected to be submitted by GMMO RVQ to downstream users (e.g. Collateral Management Team).

Major Challenges

  • Regulation: Support the development, coordination and production of the IM in the context of Margin Requirement (BCBS 261).
  • Expertise: Be part of the team that is the main point of contact in GMMO for MRUD questions coming from local regions, other HGHQ teams and regulators.
  • On-going risk management:Depending on business needs, support the production of group MRUD results for internal risk management purpose.
  • Engagement with other functions: Be one of the main representatives for GMMO MRUD on internal discussions with all functions involved in the successful delivery and running of MRUD.

Role Context

  • As described in introduction, this role sits in Global Market Risk and Valuation Data Quality, with extensive responsible of providing guidance on BCBS 261 within the Global Markets Middle Office function.
  • This position has also a significant exposure throughout the Group. With expected coordination with various functions, namely (GMMO, Product Control, Traded Risk Management, Collateral Management, Compliance, Risk Analytics & Front Office).

Management of Risk

  • High! Due to the visibility of the data expected to be produced and exchanged on a daily basis.

Observation of Internal Controls

  • Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.

Qualifications

  • MO Risk Analyst level
  • Pro-active
  • Good communication skills
  • Very good mathematical skills
  • VBA mastery
  • Good market risk or/and counterparty risk
  • Experience in market/counterparty risk reporting (preferable)
  • Previous stress testing experience (preferable)
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