VP, Market Risk and Product Specialist Job in New York 10020, New York US

Our investment banking client located in NYC is seeking an experienced risk professional for their "VP, Market Risk and Product Specialist" opportunity in the Institutional Securities audit group. The successful candidate will report to a Portfolio Manager, lead audits of divisional risk management and provide subject matter expertise in support of trading desk audits.

 

The successful candidate will have strong market risk knowledge as a practitioner with experience of market risk and models related to fixed income or equity products. The candidate will be required to provide risk expertise to various product audit teams in different locations, will have regular dialogue with Business Unit Risk Managers and senior members of the model development function (Strategists).

 

 

Skills Required 

• A strong understanding of market risk Greeks and VaR concepts, preferably having worked in the risk or Product Control/Valuation Review functions in a major bank or financial institution.
• Good knowledge of financial instruments, both cash and derivatives.
• Knowledge of financial model concepts and key controls over models.
• Ten years of experience in financial services with a preference for those with at least five years auditing capital markets or risk management in a bank or broker / dealer regulated environment.
• A four year college degree in a business discipline (e.g., finance, economics, accounting).
• A strong understanding of the regulatory environment with respect to the Federal Reserve Bank, the SEC, and OCC.
• Proficient understanding of internal audit processes including identifying and evaluating key risks, setting the audit scope, developing audit testing, and managing staff assignments.
• A team player that supports the broader audit functions by leveraging their knowledge to the best use of the Firm.
• Strong analytical, interpersonal, communication and writing skills.

 

Skills Desired

• Masters in quantitative discipline
• CFA or FRM qualification
• CPA or CIA audit qualification.

 

Responsibilities

This role will be responsible for:
• Maintaining credible relationships with senior management in the Strategists and BU Risk functions.
• Maintaining relationships with colleagues in the Risk Management audit group and exchanging information between the groups.
• Assessing the level of market and model risk in the planning of trading desk audits and helping to determine where more technical expertise is required from the Risk Management audit group.
• Conducting risk related sections of trading desk audits.
• Documenting audit findings and recommendations in a clear and concise format in line with internal standards.
• Following-up on Internal Audit and regulatory findings with clients through to completion.

The candidate in this role will also be responsible for:
• Independently performing risk assessments and planning, executing and leading integrated risk, financial and technology audits.
• Managing multiple audit engagements within established budgets and the time frames for audit completion.
• Supervising and mentoring junior staff, and reviewing work papers to ensure they meet internal standards.
• Communicating effectively both orally and in written form with senior management, the Board Audit Committee, and Regulators.