Market Risk Regulatory Change PMO Lead recruitment

This is an excellent opportunity to work at the cutting edge of reg change at a global investment bank.

Due to the need to upgrade the bank's Market Risk models and the increasing regulatory demands, a number of global change programmes have been initiated in the Risk Division. In particular:

For Market Risk; the CAD 2 programme for 2012/13:

• Upgrade the bank’s Vale at Risk model for a Variance / Covariance approach to Historical Simulation approach which is more in line with industry standards;

• Capture VaR during a stress period (Stressed VaR) and jump-to-default and migration risk (IRC) or Incremental Risk Charge)

• Introduce a new regulatory treatment for securitised products through a modelled approach or through a regulatory prescribed approach.

For Credit Risk, the IMM Programme for 2012/13 aims to:

• Introduce enhanced credit exposure measurement under the Internal Models Method

• Improve exposure aggregation, analysis and reporting for regulatory and economic capital purposes

Global Risk HQ aims for 2012/13 to:

• Improve global, consolidated risk reporting

• Introduce/strengthen standard programme management control and governance standard across all risk functions (Global Risk PMO)

• Drive various cross-functional initiatives

A number of roles have been identified within the above Regulatory Programmes and Global Risk HQ workspace, among them the Market Risk Regulatory Programmes – PMO Leaddescribed herein.

Although primarily focussed on the Market Risk (CAD 2) programme this role also includes working cross-functionally with the Credit Risk Programme and Global Risk HQ, e.g. for Exective meetings, Steering committees, and cross-functional initiatives.

KEY ASPECTS:

Job Overview:

• Responsible for creation, maintenance and tracking of all Programme, individual Project delivery plans (to a new common standard) for detailed planning and tracking of all key phases and milestones or delivery across the business and Risk IT; ensuring all business and IT activities, tasks and dependencies are suitably and adequately reflected.

• Support the day to day management of all delivery aspects of the project, ensuring strong project control governance and reporting standards are implemented.

• Actively maintain a RAIDS log and work in conjunction with the PM to ensure that this references back to project plan tasks and status, and that all relkedial actions arnd mitifations are transparent to everyone and acted on in a timely and effective way.

• Ensure all management reporting and control reports are produced throughout the planning and delivery phases of the project.

• Ensure regular status meetings are held and promptly written-up for actions / next steps

• Escalate any Project Control issues (lateness against rask run rates, Risk and Issues) in a timely manner.

• Work with the PM and IT release Co-ordinator to plan and track the contend and schedules of all Market Risk application and functional releases.

3 Key Objectives Critical to Success of the Role:

• Initiate, drive and control the creation and maintenance of detail business and IT Plans for all Market Risk Project Initiatives.

• Ensure timely updates tracking against this plan across all projects and initiatives, allowing required MI to be driven from the baseline plan.

• Project deliverables to be achieved on time and acdor4ding to plan without unnecessary additional costs or unplanned / unforeseen diversion / change, or unrealistic workload imposed on project team and contributors.

Skills Experience Required:

• Degree (or equivalent) in a relevant discipline

• A good understanding of financial products and risk methodology across all asset classes.

• A good knowledge of Basel 2 / CAD2 requirements and VaR concepts as they relate to risk management regulatory capital reporting.

• Excellent and demonstrable Project Planning and Project Control skills (Expert in use of Microsoft Project (MSP) with added applications for MI and interrogation) and a track record for successful plan management with delivery of complex multi-streamed projects, including those with a heavy IT dependency in order to achieve successful delivery.

• Demonstrable ability and confidence to build relationships across both the business and IT.

• Demonstrable track record of good stakeholder management

• Excellent communication skills – both verbal and written.

• Single minded and task / delivery focussed but must also be a good team member / contributor

Please note that candidates from a Big 4 Management Consultancy (or formerly of a Management Consultancy) are particularly interesting to my client. 

If you would like to apply please send an up-to-date CV to Ben.Reed@Investigo.co.uk or call me on 020 3009 3427.