Junior Risk Analyst SwapClear recruitment

Overview

 

LCH.Clearnet is the leading independent clearing house group, serving major international exchanges and platforms, as well as a range of OTC markets. It clears a broad range of asset classes including: securities, exchange traded derivatives, commodities, energy, freight, foreign exchange, interest rate swaps, credit default swaps and euro and sterling denominated bonds and repos; and works closely with market participants and exchanges to identify and develop clearing services for new asset classes.

SwapClear is LCH.Clearnet's global clearing service for interest rate swaps. SwapClear offers its clients more than 12 years' experience, a risk management platform that's second to none and more clearable IRS products than any other clearing house globally.

SwapClear has a proven track record of mitigating risk for its users. This success is due to SwapClear's stringent membership criteria and rigorous back testing, including worst-case losses based on historical scenarios over the previous five years.

Responsibilities

As part of a small team the role will be to assist in the day-to-day risk management of interest rate products, primarily interest rate swaps. The individual will also be involved in assisting in the enhancement of the existing risk management tools and processes and platforms including developing in-house tools; involvement in the setting of margin rates; risk assessment of new and existing cleared products (including user acceptance testing); liaison externally with members and internally with other departments; and general support of all of the team's functions.
Intra-day monitoring and margining

•  Ensure understanding of the detailed calculations; including the assumptions inherent within the initial margin algorithm and the curve building methodologies.

•  Assisting to ensure that parameters are reviewed in line with policy

•  Assisting to ensure all new and existing products are appropriately margined and valued.

Market Monitoring

•  Produce regular reporting to identify exceptional positions; recommending further action as appropriate including liaising and requesting further information from exchanges; regulators or member firms.

•  Ensure detailed understanding of the characteristics of cleared markets and, insofar as they are related, uncleared markets.

•  Monitor and remain abreast of external market factors including new products.

Operational

•  Ensuring that the daily operational tasks are completed on a timely basis and within the scope of defined risk management policies.

•  Ensure that weekly operational procedures are maintained to the required schedule and appropriately managed so as to meet deadlines.

•  Ensure timely reporting of key management information to meet internal and external deadlines.

•  Liaise internally and externally to ensure any ad hoc procedures are communicated appropriately as they arise. •  Involvement in internal projects to develop and enhance internal risk management processes.

•  Carry out intraday monitoring and regular review of intraday risk, reporting this internally where necessary.

Default Management

Obtain an understanding of the Default Management Process assisting the team to manage any default of a member firm.

Required skills and experience