Market Trading Risk Management Specialist
2 weeks ago
Northern Trust is a leading global financial institution with a rich history dating back to 1889. As a Fortune 500 company, we have established ourselves as a trusted partner for individuals, families, and institutions seeking innovative financial solutions.
Our commitment to service, expertise, and integrity has enabled us to build long-lasting relationships with our clients and partners. With over 130 years of experience and a team of over 22,000 professionals, we provide tailored financial services and guidance to meet the evolving needs of our clients.
Job SummaryThe Market Trading Risk Management Professional will play a critical role in developing and monitoring risk management standards for FX Trading. This position involves managing market, credit, and regulatory risk, ensuring that our clients' assets are protected and their interests are represented.
Key Responsibilities- Perform daily risk management oversight for FX Trading business, including VaR analysis, open position monitoring, adherence to limits, and stress scenario modeling.
- Monitor market volatility through quantitative techniques to ensure principal exposure is within firm's risk appetite.
- Maintenance of data and providing information for regulatory reports, and internal Audit/ Compliance.
- Maintain and assist in ongoing development of metrices and analysis of P&L attribution, regulatory capital consumption and return on capital / RWA.
- Responsible for leading the development of NT's FRTB capabilities in accordance with the regulatory rules and expectations, with a focus on delivering FRTB Implementation.
- Develop analytical tooling to support FRTB capital analysis.
- Assist in establishing processes, documentation, and controls to manage risks associated with FX and derivatives.
- Interpret model outputs and communicate findings to stakeholders, including risk managers, capitals market team, and senior management.
- Conduct quantitative analysis to assess model performance and outcome for at top of the house portfolio and trading desk level.
- Collaborate with IT teams to ensure smooth integration of models and analytical tooling in existing systems and infrastructure.
- Prepare ad hoc risk analysis as required by senior business or risk personnel or as required for proposed products or services.
- Support risk analysis for Securities Finance counterparty portfolios as required by Credit Risk Management Policies. Responsibilities include - VaR model execution, analysis of results and presentation to Committees.
- Act as liaison with business units (FX Trading Desks, Securities Finance, Treasury) and internal control functions including Audit, Compliance and Model Validation team and assist in the resolution of any audit or control issues related to FX products.
Bachelor's degree in finance, mathematics, economics or related discipline
Master's or higher degree in MBA, Quantitative Finance, Economics or a related field of study preferred
5 plus years of relevant work experience with foreign exchange or derivatives experience preferred or equivalent in VaR/ FRTB/Derivatives asset pricing or related quantitative fields
Professional certifications (FRM, CFA) or Familiarity with risk management and analysis, preferred.
Expert level understanding of Microsoft office including Excel VBA and reporting development
Knowledge and skills (general and technical) - Type of experience that this person will need (i.e must haves or nice to haves)
Knowledge of Capital Markets and financial products such as Foreign Exchange, Securities Lending, Treasury, and Investment Securities is preferred.
Understanding of VaR, default and settlement risk, stress testing, and mark to market calculations
Comfortable working with large data sets that require joining tables from disparate databases
Experience with coding/building prototype risk models and reporting using Python, R, SQL etc.
Must be comfortable working in fast paced environment with ability to make and communicate effective risk management decisions.
Ability to articulate risk management policies and methodologies.
Strong interpersonal, relationship and negotiation skills.
Experience with the foreign exchange and derivative space.
Excellent problem solving and analytical skills.
Strong written and verbal communication skills, including presentations.
Ability to work independently with limited oversight.
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