Risk Manager Sr Job
Risk Manager Sr (Job Number: 1314091)
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Additional information is available at www.bnymellon.com .
Risk Compliance teams perform analysis on the risk of loss resulting from inadequate or failed internal processes, people and systems, or from external events. Risk teams use the following tools: Operational Risk Events, Risk Control Self-Assessments, Key Risk Indicators and High-Level Assessments. The Compliance and Ethics areas are responsible for four core functions: Anti-Money Laundering, Business Conflicts, Compliance Monitoring and Dealing with Affiliates/Insiders.
Description
Reports to:
Dual reporting to Global Markets Market Risk Manager Head of Risk BNY Mellon SA/NV Frankfurt Branch/Senior Risk Officer Continental Europe
Overview:
The 'in sourcing' of the listed derivatives clearing business of BNY Mellon has led to the need to add a Derivative Clearing Risk Manager, based in Frankfurt. BNY Mellon is currently clearing futures and options on futures contracts for 20 German customers who have approximately 250 accounts and it anticipates 100% growth over the next 12 -18 months. Clients are clearing Interest Rate, FX, Equity Index, Energy, Metals and Agricultural contracts through the business.
He/She would be responsible for executing risk policy as it related to the counterparty credit risk. The candidate would work closely with client facing and legal experts to ensure that all clearing relationships are appropriately documented and effective credit terms and mitigants are implemented. Additionally this individual would be responsible for identifying concentrations of open interest, collateral types etc and taking action and escalating issues to management This will be a high growth business and the individual should have the capacity to evaluate new products new collateral regimes and clearing mechanisms He/She should be a voting participant in the FCM:s Global Credit Committee. In this capacity he/should monitor the credit quality of the FCM's clients and take action to reduce risk , close out positions or limit new business. The individual should have established skills in dealing with regulators.
Responsibilities:
- To monitor market volatility and customer positions, and work with Business to take appropriate action with positions / trades of specific concern.
- To provide oversight coverage of the global client base
- Ad-hoc analysis of large risk positions, basis trades, problem clients
- Review and monitor incoming margin and collateral
- Monitor trade allocations claims to ensure timely movement of trades to/from client accounts
- To amend and review trading platform limits for cleared and execution only clients. In conjunction with the operations team, ensure the timely allocation of trades.
- To assist in explanations to external customers and counterparties of margins and risk methodologies as necessary.
- To undertake ongoing monitoring and risk assessment of sub-clearer/carry broker relationships.
- Provide credit officers and Senior Management with frequent information of client portfolio risks and exposure
- Work with global credit officers on futures market to ensure proper understanding of daily market environment and issues that may impact risk limits
- To develop relationships with internal stake holders including front office trading and customer liaison staff, back office, margin, business partners and other key personal.
- Work closely with Operations to make margin calls.
- Support the ICAAP process
Qualifications
- Excellent understanding of global futures markets and exchange margining approaches for listed futures
- Knowledge of financial products, including OTC and exchange-traded derivatives (Commodities, FX, Equities and Rates)Experience with Eurex preferred
- Understanding of BaFin
- Strong market risk experience with 5-10 years work experience at an FCM
- Must be facile in the various risk measure including VaR, PFE and Expected Shortfall. He/She must be able to understand the interaction between VaR measures and Stress tests.
- GMI experience a must
- Strong academic credentials; minimum bachelors degree
- Fluent German speaker
- Exemplary quantitative capabilities and demonstrated analytical skills
- Excellent communicator capable of performing day-to-day activities
Primary Location: Frankfurt, Hessen, DE
Internal Jobcode: 50038
Job: Audit/Compliance/Risk
Organization: Risk-HR06016
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