Commodites Risk Manager
Salary $150000 - $175000 per year
Consultant Sonjay Vishnupad
Date posted October 18, 20187 Times Square New York NY 10036 Robert Walters United States of America
Reporting to the Director, Risk Oversight of Fixed Income Currencies and Commodities (FICC), the Manager is accountable for providing a clear, detailed and independent analysis of key market exposures for the Commodities Desk. Strong understanding of the commodities market and leading edge market risk practices is a must.
Reporting to the Director, Risk Oversight of Fixed Income Currencies and Commodities (FICC), the Manager is accountable for providing a clear, detailed and independent analysis of key market exposures for the Commodities Desk. The role requires a close working relationship between members of the Risk Reporting group, Valuation Product Control group and Risk Models group to ensure complete and accurate quantification/reporting of all market and traded credit risk exposures. Strong understanding of the commodities market and leading edge market risk practices is a must.
- Ensure the Market Risk objective of “No Surprises” is met. The Bank is aware that material trading losses will occur from time to time commensurate with the risks being taken. The potential for these losses to occur should be made transparent and raised ahead of time to senior MR and LOB executives so that they are aware of the risks.
- Establish relationships with the LOB traders and managers, advise and enlighten their understanding of material market and credit risks, assist them from time to time in making market risk decisions in their respective portfolios by addressing ad-hoc risk queries. In addition, jointly work to build understanding co-operation, and commitment to current and developing risk measurement methodologies.
- Work with Market Risk Modeling group directors and MRV directors on the development of state-of-the-art methodologies, systems and processes for measurement and monitoring of trading & underwriting market risk.
- Monitor market environment, report on impact of market events on current market & traded credit risk positions and report to Director, Risk Oversight, MD Risk Oversight and EVP and Chief Risk Officer, and ensure risk factors and risk measurement methodologies are updated in response to changes in market dynamics.
- Communicate technical, analytical, and conceptual information regarding market and traded credit risk measurement/methodology to traders and management on a daily and weekly basis.
- Recommend to Director and MD Risk Oversight appropriate risk limits and ensure appropriate processes are in place to monitor against limits (market value exposure and concentration) and review that the line of business activities fall within pre-established boundaries and exceptions or concerns are escalated to Market Risk Directors and MD’s for management review in keeping with Market Risk Policies and Standards.
- In conjunction with the LOB traders, provide analysis and recommendations to RO Directors to facilitate concurrence (when deemed appropriate) on LOB approved limit excesses. Work with the LOB to obtain Pre-approval of limit excesses (where applicable) and to ensure any breaches of approved limits are properly escalated, approved and documented.
- Develop, publish, issue, update and file maintenance of Trading Authority letters.
- Identify gaps, weaknesses or opportunities for improvement in the Corporate Policy and Standards supporting market risk-related activities and to address these through recommendations to the MD Risk Oversight..
- Work with LOB business managers to approve or recommend one-off transactions, or full implementation of new trading products, subject to the authorities granted in the “New product Approval Process”.
- Work with the internal auditors as a key contact within Market Risk and the LOB audits that occur on a continuous basis throughout the year.
- In concert with Market Risk Infrastructure, day to day direction is provided to VPC and Risk Reporting group as part of team operational focus within the Market Risk.
KNOWLEDGE AND SKILLS:
- a) Knowledge:
- Strong knowledge and understanding of key market and traded credit risk drivers.
- Excellent understanding of global financial markets and products.
- Advanced knowledge of EXCEL, MS Access, PowerPoint, MS Word, computer programming.
- Intermediate to advanced knowledge of statistics.
- 2-4 years experience within the Market Risk field, preferably at a large US or European Bank
- Ideally, at least 2 years working in a commodities or energy related asset class
2. b) Skills:
- Ability to deal with conflict resolution
- Advanced analytical and proven problem solving skills
- Strong interpersonal and communication skills
- Able to work independently and within a team environment