VP- Market Risk recruitment
Job Description
IB - Risk - FO, Equities and FX Risk Coverage
Job Description
Title: IB - Risk - FO, Equities and FX Risk Coverage - London
Our client is one of the largest and most dynamic futures and options brokerage businesses in the world. They are a listed derivatives market leader in providing research, sales, execution and clearing services to clients on over 80 exchanges globally across the America, AsiaPacific and EMEA. FO offers four main asset classes: Commodities, Equities, Foreign Exchange and Rates.
Description
The FO, Equities and FX Risk Coverage will be based in London and will report to the Head of Risk for the Electronic Trading platform.
The FO, Equities and FX Risk Management function's mandate is to:
- Manage the market risks that affect intra-day trading counterparts risk management (margining, concentration risk etc.)
- Define and manage the margin terms and principles for all clients, taking into account the market risk of the portfolio and Credit's view of the counterparty (how much risk do we want to be protected against)
- Define margin regimes and parameters used in each/across asset classes
- Ensure that the margin terms and stress losses in client positions do not exceed the approved thresholds
- Define position/portfolio and concentration limits
- Provide Credit Officers and Senior Management with frequent information of client portfolio risks
- Support FO Client Services and FO CCD on client queries related to non-standard margin regime
- Develop risk infrastructure to monitor intra-day risk for high frequency trading
- Develop cross-asset class margining model to monitor risk across asset classes
- Be point of contact for ad-hoc day-to-day queries
Responsibilities
Risk Monitoring:
- Define standard thresholds for concentration risk; procedure to deal with concentrated positions
- Define intra-day risk parameters: margin, limits
- Define standard margin terms for various asset classes
- Review and approve the transfer of portfolios of existing clients to understand change in the risk profile and approve migration
- Review and approve all new FO clients to understand market and concentration risks and define margin terms
- Daily management of adequate margin on existing portfolios
- Daily monitoring of the market risk and collateral coverage of all client portfolios
- Daily monitoring of concentration risk/liquidity across all client portfolios
- Daily monitoring of delivery risk - follow-up on large volumes
- Offline monitoring of portfolios not in Risk-metrics (freight, European power and weather)
- Intraday monitoring of day-trading and HPDMA clients
- Ad-hoc analysis of large risk positions, basis trades, problem clients
Institutional:
- Educate credit officers globally on futures market, its risks and its margin regime work to ensure they comfortable setting up a credit limit
- Support Client Services and CCD on client queries related to non-standard margin regime
- Attend client meetings to educate them on FO and/or identify potential 'red flags'
- Act as communication channel when specific margining requests are communicated by the client
- Approve the offering of new products on existing exchanges
- Approve new exchange offerings (in conjunction with Credit Risk and Clearing House Exchange Risk)
Qualifications
The ideal candidate would have some or all of the following:
- Understanding of futures options products and exchange margining approaches
- Knowledge of financial products, including OTC and exchange-traded derivatives (Commodities, FX, Equities and Rates)