The Market Risk Manager for European Traded Credit Products provides independent risk oversight of ICG's Global Credit Markets Trading activities in Europe. The primary responsibility for this role is to focus on the European Flow trading business (IG, HY, Financials trading and Index and ETF flow trading), Structured Credit trading activities in Europe (Secondary CLO trading activity), Capital Markets origination activities managed out of London, the successful candidate will also have to drive the regional market risk governance initiatives aimed to provide an oversight over offshore trading activity on UK regulated entities. The candidate will also have to work closely with US team on CCAR and UK/EU regulatory (stress testing) deliverables.
A critical member of a 4-persons team (including myself) covering Flow, and complex structured credit trading desks, Capital market origination activities operating in EMEA region and interacting with the businesses directly based in London. Additionally this person is driving the regional governance from risk perspective of all offshore activity on UK legal entities which is a big focus of UK regulator at the moment, and has to be actively involved/working with US team on CCAR deliverables and local regulatory stress testing deliverables.
Work with trading desk to ensure that all relevant market risk factors are properly identified and formally captured in official risk systems
Develop and maintain an appropriate independent market risk limits framework with applicable limits and triggers in cooperation with senior market risk manager
Independently monitor business compliance with the firm's market risk-related policies
Review and recommend approval for new transactions, providing transaction support and guidance on risk issues during product development, in particular for transactions with potential reputational and franchise risks
Oversee risk exposure measurement and limit monitoring processes to ensure integrity and appropriate independence of reporting. Work closely with Volcker office in reviewing and validating risk data and Volcker metrics as appropriate and seek explanations for unusual or material trading activity as warranted by various Volcker metrics.
Involvement in maintenance and update of the desk permitted product lists (PPLs) and providing senior risk manager support in reviewing market risk limit exceptions and pre-approval for large, illiquid or complex trade requests.
Actively participate in the development of business-level stress testing that properly considers risk concentrations by single issuer, risk rating, sector/industry and geography; review results and determine appropriate follow-up actions in close cooperation and coordination with senior risk manager. Involved in analysing, validating and ensuring the proper reporting of regular internal and regulatory stress testing results (GSST, CCAR, PRA, etc.)
Improve the transparency of key trading risk exposures to senior business and ICG Risk management
Good understanding of markets and market characteristics, such as pricing, market liquidity and market volatility, across a broad range of financial instruments
Prior experience in either a risk management or trading role is an advantage
Attention to detail and strong analytical skills, focus on accuracy and diligence.
Sound computing skills essential, prior programming and/or database management experience is an advantage
Strong interpersonal and communication skills given the need for frequent interaction with peers in NY and London and other control functions.
Readiness to use initiative and work with limited supervision
Ability to work well in groups and flexibility in addressing a number of projects simultaneously
Willingness to resolve conflicts and work well under pressure
Ability to evaluate both strategic and tactical issues related to the business
An undergraduate or postgraduate degree in a quantitative or financial discipline.
Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.
Valuing Diversity: Demonstrates an appreciation of a diverse workforce. Appreciates differences in style or perspective and uses differences to add value to decisions or actions and organisational success.
Citi is an Equal Opportunities Employer
Internal Number: 5429925
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