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Fixed Income Market Risk - Senior Manager

Morgan McKinley
London, GB
Closing date
22 May 2022

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Job Type
Full Time
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Job Summary London Permanent BBBH810514 Mar 21, 2022 Competitive Job Description Global bank seeks a Senior Market risk Manager to versees market risk for Rates and CMF business lines in London ensuring business strategies, plans and initiatives are executed. Purpose Leads and oversees market risk for Rates and CMF business lines in London ensuring business strategies, plans and initiatives are executed / delivered in compliance with governing regulations, internal policies and procedures. Accountabilities
• Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
• Oversight market risk for Global Fixed Income and Collateral Management and Funding (CMF) businesses with support of market risk manager. Act as the eyes and ears of Global Risk Management, on the London trade floor. Identify and assess of market risks in the covered businesses, and also ensuring consistency with the Bank's risk appetite and the approved business mandate.
• Foster the market risk manager reporting into the role, take responsibility as people manager.
• Communicate regularly with CRO Europe and TFRM business line VP on trading activity, trading risk profile, trader sentiment and market developments in London, escalate potential concerns remotely.
• Ability to respond autonomously to queries from Senior Management, Audit, Risk Policy, Compliance, VaR etc.
• Lead analysis and recommendations, coordinate, review and challenge on new products and other market risk limit issues, including limit structure and amounts, prepare presentation to risk committee from 2nd line perspective.
• Understand rates curve construction, able to revalue portfolios independently and properly in accordance with Bank standards, review and execute IPV methodology. Understand pnl drivers and able to explain by market moves on key risk sensitivities. Partner closely with Product Control on P&L attribution.
• Work closely with counterparts across globe, coordinate in global projects and adding value to bring London into perspective.
• Regularly review and enhance/improve the current reporting process with other control functions (Technology, Market Risk Operations, Analytics, etc) to improve efficiency
• Represent TFRM in discussions of implementation of new and/or changes to technology supporting trading businesses, lead works from TFRM side such as testing.
• Understand how the Bank's risk appetite and risk culture should be considered in day-to-day activities and decisions.
• Creates an environment in which his/her team pursues effective and efficient operations of his/her respective areas, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook and the Code of Conduct.
• Builds a high performance environment and implements a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment; communicating vison/values/business strategy and managing succession and development planning for the team. Focus is on covering all Rates trading desk activities carried out of London (Global Fixed Income Rates and Collateral Management and Funding) London Rates typically runs a balance sheet of $15-20bn. Interest rate risk at points on the curve range up to /- 500k primarily driven by market making and related hedging activity. Key Skills Product Knowledge. The incumbent must have a thorough and excellent knowledge of swaps, inflation products, options, bonds, repos and securities borrowing/lending, TRS The incumbent will require a good knowledge of risk metrics (sensitivities and VaR) Degree in economics/finance/numerical or a quantitative discipline Solid related experience in risk management or direct experience in the financial industry. Strong numerical and computational skills required particularly in MS Excel, thorough understanding of VBA. Excellent interpersonal, communication and leadership skills required. Ability to work in a fast pace environment with multiple priorities Advanced presentation skills and ability to provide insightful and influential viewpoints to Executive and Senior Management. Working Conditions Work in a standard office-based environment; non-standard hours are a common occurrence. Limited travel. Morgan McKinley is acting as an Employment Agency and references to pay rates are indicative. BY APPLYING FOR THIS ROLE YOU ARE AGREEING TO OUR TERMS OF SERVICE WHICH TOGETHER WITH OUR PRIVACY STATEMENT GOVERN YOUR USE OF MORGAN MCKINLEY SERVICES.
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