VP & Head of Market Risk Oversight

JOB SUMMARY / INTRODUCTION

Market Risk Oversight is a function within the Market Risk Management department. It is responsible for the measurement, monitoring, control and reporting of the market risk exposures emanating from Global Markets & Group Treasury activities. It ensures that the businesses operate within the Risk Appetite approved by the board. It is also responsible for the oversight over implementation of risk management controls and for performing deep market risk analysis of the bank’s profile, current and forward-looking, to allow the bank to make informed decisions on its market risk exposures and alert senior management on the potential risks to the bank from the open market risk exposures.

Market Risk Oversight team maintains regular dialogue with Risk teams, Front Office, Product Control, IT, Risk & Front Office Quantitative teams across all areas of the bank with respect to data feeds and reporting.

The VP & Head – Market Risk Oversight will be primarily responsible for developing and maintaining the Market Risk Oversight function under the aegis of Head of Market Risk Management in compliance with all regulatory guidelines and internal policies. The role also requires working towards continuous improvement of processes through identifying global industry best practices and leading initiatives to streamline processes and enhance risk monitoring and analysis. Further, the individual will have to continuously work on enhancing the risk monitoring and analysis in line with the change in the risk profile of the bank and the market environment.

KEY RESPONSIBILITIES

General Accountability

• Act in consonance with the Group’s vision and mission to facilitate the organizational objectives of growing stronger.

• Ensure the achievement of the bank’s business plans by optimizing risk adjusted performance of Trading & Investments activities of Global Markets & Group Treasury.

• Provide an assurance to the GCRO through the Head of Market Risk Management that all material market risks pertaining to Global Markets & Group Treasury have been identified and monitored with proper controls and/or mitigation plans to mitigate these risks.

Job Specific Accountabilities

• Establish and maintain a robust Market Risk Oversight function ensuring that all the open market risks are adequately monitored and reported in an accurate and comprehensive way.

• Provide executive management, directly or through risk committees, with a regular assessment of the market risk exposures and the risk profile of the Investments & Trading activities of the bank.

• Ensure strict adherence to the market risk appetite approved by the board.

• Drive the continuous development of the Market Risk Oversight function in line with market best practices, the bank’s risk profile and the market environment.

• Build effective partnerships with the Front Office and enablement teams to ensure accurate and comprehensive market risk oversight on a continuous basis.

• Deliver and maintain a strong, efficient control environment whereby adequate checks and controls are implemented to ensure the data reported to senior management is accurate and delivered on time.

• Ensure reporting is accessible for senior management by provision of concise, informative reports and commentaries.

• Act as the key point of contact for senior management with regards to market risk oversight associated with Trading & Investment activities.

• Be responsible for MR Oversight function end-to-end and manage the execution of an appropriate Oversight and Governance framework.

• Be responsible for driving the MR Oversight function, defining requirements for and the implementation of strategic and tactical projects.

• Support regulatory submissions relating to Market Risk metrics and ICAAP exercise.

• Ensure that all risk reports are reviewed, validated and explained before and after dissemination to stakeholders.

• Active participation in preparation of MIS for senior management and senior committees and supporting Head of Market Risk Management.

• Active stakeholder for all ongoing projects pertaining to market risk oversight or impacting market risk reporting.

• Perform stress testing in accordance with regulatory guidelines.

• Be the owner of initiatives and projects to automate processes and systems with an objective to streamline processes and increase efficiency.

• Have oversight on the MR Capital Oversight function to ensure the good functioning of the team and provide guidance where applicable.

• Ensure the department operates within the approved bank policies and regulatory requirements.

• Lead engagement with Corporate Governance team to ensure all policies and SOPs pertaining to MR Oversight are regularly updated in a timely manner.

• Lead engagement with Group Internal Audit to address all recommendations in a timely manner.

Specific Accountability

• Provide leadership and continuous guidance to the MR Oversight team and maintain a good working environment.

• Ensure high quality service to internal and external stakeholders with regards to the accuracy and comprehensiveness of MR risk reports.

• Lead engagement with IT departments and systems service providers, ensuring issues are appropriately raised, enhancements correctly proposed and implemented where applicable.

• Ensure that the Business Continuity Plan is tested and learning points logged.

• Act as an escalation point to ensure any issues are resolved in a timely manner.

• Play a leading role in developing process improvements, automating or improving internal processes, and ensuring change requirements are implemented and integrated into team operations appropriately.

• Work closely with Front Office and enablement functions to achieve the role objectives.

• Coordinate with Technology teams to resolve IT related issues and implement relevant changes that improve quality and efficiency of MR Oversight processes.

• Liaise with Market Risk Middle Office for daily validation of market and static data, collateral and risk reports.

• Work with Market Risk Analytics team for valuation and risk methodologies and market data.

• Liaise with Product Control (IPV) to ensure the correct reflection of market data used for official valuation and risks.

• Coordinate with Group IT for implementation and development of projects related to Market Risk Oversight and MR Capital.

• Work with Group Internal Audit to address all recommendations in a timely manner.

• Coordinate with Enterprise Risk Management for market risk capital and processes involved around RWA calculations.

REQUIREMENTS / QUALIFICATIONS

Essential Qualifications & Experience

• Master’s degree in Finance or Economics.

• Relevant IT skillset.

• 12+ years’ relevant experience in the banking sector with at least 5 years in similar positions in the Market Risk or Treasury Risk function. Previous managerial experience is highly desirable.

• Extensive experience in Market Risk Oversight within the Investment Banking industry.

• Excellent understanding of cash products and OTC Derivatives asset classes including Interest Rate Derivatives, FX, Credit and Structured Credit products, Equities, Commodities and Fixed Income.

• Solid understanding and experience with Market Risk infrastructure and trading systems.

• Strong interpersonal and communication skills with demonstrated ability to effectively deal with people at various levels of seniority.

• Strong planning and organizational skills with a proven ability to priorities competing demands.

• Effective leadership with the interpersonal skills required to direct and motivate a team to achieve results.

• Sound experience working with financial platforms such as Bloomberg and Reuters.

• Solution-oriented approach with proven ability to work accurately under pressure and tight deadlines.

• Experience working on Murex platform for market risk management and other treasury platforms.

• Strong initiative and proactive problem-solving skills.

• High standards of confidentiality and ethics.

Preferred / Beneficial

• Professional certification such as FRM or CFA.

Skills

• Market Risk Oversight

• Market Risk Management

• Treasury Risk

• Risk Appetite Monitoring

• Risk Reporting & Analysis

• Risk Governance

• Stress Testing

• ICAAP

• Market Risk Capital Oversight

• Regulatory Reporting

• OTC Derivatives

• Interest Rate Derivatives

• FX, Credit & Structured Credit Products

• Equities, Commodities & Fixed Income

• Market Risk Infrastructure

• Trading Systems

• Murex

• Bloomberg

• Reuters

• MIS Reporting

• Stakeholder Management

• Process Improvement & Automation

• Leadership & Team Management

• Business Continuity Planning

• Corporate Governance

• Internal Audit Management

• Strategic Project Delivery

• Strong Communication & Interpersonal Skills

• Strong Planning & Organizational Skills

• Ability to work accurately under pressure and tight deadlines.