Director of Credit and Market Risk
New York, NY
Global Banking organization seeks a Director of Credit & Market Risk for the USBroker Dealer based in ther New York oddice, thisis a newlycreated position due togrowth in the US markets.
Credit & Risk group is looking for a Director who will play a substantial role in the evaluation and monitoring of the firm's credit and market risk exposures as well as assisting in the firm's liquidity management. The individual will also be responsible for monitoring portfolio margin / prime brokerage client portfolios.
This position requires a highly organized and analytical thinker who can quickly adapt to daily challenges and take on a variety of responsibilities in this relatively small but important department.
Successful candidate will be a mature self-starter who has demonstrated the ability to function independently in a fast- paced, dynamic and demanding environment.
The Credit & Market Risk function exists to mitigate counterparty / institutional customers risk in the equity, options and fixed income markets. This involves reviewing the firm's credit & risk exposure (Portfolio Margin / Prime Brokerage, Repo, or Securities Lending) on a daily basis.
Main duties of the role will include but not be limited to:
Assess margin requirements and stress loss of Prime Brokerage / Portfolio Margin clients.
Daily monitoring of credit and market risk exposures in various parts of the company's businesses, including portfolio margin clients, fixed income repo, securities lending, direct prime brokerage customers, and correspondent clearing.
Provide accurate and timely measurement of all relevant credit and market exposure at counterparty and portfolio level to help facilitate credit decisions.
Recommend appropriate risk limits and ensure processes are in place to monitor against limits.
Review the line of business activities fall within pre-established boundaries and expectations or concerns are escalated for management review.
Monitor global macro market environment and impact of market events on current portfolios.
Monitor deposits at all central clearing counterparties (DTC, NSCC, OCC and FICC).
Quantify potential impact to CCP deposits based on potential new transactions or new relationships.
Investigation and reconciliation of client portfolios aligning mark-to-markets or yield curves and mitigating the firm's risk.
Daily engagement with key external counterparties and internal executive management.
Contribute to the development of risk framework, guidelines, policy and procedures.
Identify issues and escalate to management.
Perform due diligence on all new portfolio margin / prime brokerage relationships.
Monitor risk exposures against guidelines and proactively engage with the business to avoid and resolve any possible exceedances.
Bachelor's degree from an accredited traditional 4-year college/university, preferably in finance, mathematics or economics.
5 - 7 years' experience in a credit & risk required, preferably in a broker/dealer capacity;
Experience in managing risk associated with portfolio margin / prime brokerage client's portfolio
Strong knowledge of market and credit risks, financial markets and products (Equity, Options, Corporate Bonds, Municipal Bonds, TBAs, MBS and US Treasuries).
Knowledge of risk management framework (VaR and Stress-Testing standards, counterparty exposure estimation, liquidity estimation, model assessment and validation) VaR, stress tests, tail exposure.
Thoughtful, precise, clear and accurate written and oral communication skills;
Strong Proficiency in Excel, Access, Bloomberg, SQL to maintain, improve and develop reporting tools.
Strong interest in client interaction and possess outstanding verbal and written communication skills
Strong problem solving and analytical skills;
Strong organizational skills.