Senior Associate - Risk and Controls - Market Risk

Risk Control (is a distinct group within the V&RC organization, whose main objectives are:

Perform controls over end-of-day and intraday risk limits

Ensure compliance with trader mandates

Escalate and report breaches to management

Responsibilities

• Contribute to Risk Control framework: End-of-day Risk Limits, Intraday Risk Limits and Trader Mandates. This increasingly complex and demanding function requires ongoing participation in process execution, analyses, and project coordination by all team members.
• Ensure that daily end-of-day/intraday limits and mandate breaches are investigated, understood, promptly escalated according to the global policy and all the comments are well documented in the daily/weekly/monthly summary reports and Dashboard.
• Particularly regarding the risk limits monitoring there is a need for constant dialogue and interaction with Traders, Front Office management, Risk and Operations department and IT to:
  • Understand the methodologies used to compute the market risks indicators in the risk systems to calculate end-of-day risk and Intraday risk limits
  • Identify, research and resolve limit discrepancies between the FO system and Risk system
  • Identify inconsistencies across risk indicators
  • Coordinate with other internal groups to resolve issues and post accurate market risk in the official Risk system
  • Ensure control exhaustiveness
• For the trader Mandate management function:
  • Understand the different mandate characteristics and controls across the various product asset classes
  • Identify, investigate and escalate policy breaches
  • Summarize and report outstanding issues to global V&RC management, coordinate to resolve the issue (ie: update the mandate systems globally, amend the mandate reconciliation logic)
  • Ensure timely signoff if Trading Mandates by FO personnel
  • Ensure control exhaustiveness
  • Changes are documented and exhaustively maintained.

Implement new controls and processes arising changes in the regulatory environment such as Volcker and the French Banking Law

Contribute to the Permanent Control framework

Practical understanding of option theory and an interest in financial markets

Ability to explain various option pricing parameters, particularly Equity Options.

Project coordination skills. Effectively communicate and coordinate across diverse global groups to meet challenging targets.

Prior Risk, P&L, Product Control or Audit experience or other experience working in a control function

Working product knowledge across a wide range of asset class, Equities preferred.

Strong IT skills including Excel, VBA, and PowerPoint. Intermediate to advanced Excel skills.

Technically strong in areas of financial mathematics complemented by knowledge of market practice.

• 2+ years of relevant financial industry experience
• Strong control oriented mindset
• Thrive under tight deadlines to produce accurate and thorough results. Attention to detail is essential especially when under pressure and time constraints.
• Strong written and verbal communication, listening skills. Ability to effectively communicate to various audiences (senior, junior, trading, IT, non-technical, audit, etc.)
• Results/Solutions driven: Manage constraints and competing priorities; ability and mindset to compromise and build consensus to optimize outcomes
• Intellectual interest in operational risk; overall concern over the effectiveness of the banks control structure.
• Ongoing curiosity in the evolution of the market environment, the organization, and the banks businesses.