Title: CONSULTANT – MARKET RISK
Job Function: Market Risk, Balance Sheet & Liquidity Risk
Shanghai branch is looking to expand its trading and treasury businesses through establishment of a derivatives trading desk, once approval of a derivatives license is granted by the regulators. The branch already has treasury capabilities to support the funding and liquidity requirements of the various businesses as well as limited FX activity following approval of the local currency RMB license.
As part of local regulatory requirements, a Market Risk manager/analyst is expected on the ground to oversight trading activities. This person will be co-located in the dealing room sitting alongside the trading and treasury teams. They will also have oversight responsibility of Beijing branch cost centres which are managed by Shanghai Treasury team. As this will be a single FTE hire, support and leave coverage will be provided through Regional Market Risk team based in Hong Kong. Organisationally, the role will have dual reporting lines into both Regional Head of Market Risk Asia (based in HK) as well as Head of Risk China (based in Shanghai).
To build up knowledge of our Markets business, internal policies, systems, etc., it is envisioned that the encumbant will spend a few months with Regional team in HK to familiarise themselves with our framework, roles and responsibilities.
· Daily oversight of market risk exposures – via preparation and/or review of daily oversight risk reports, daily interaction with the business units.
· Identify Market and other risks associated with those trading activities to ensure compliance with APRA and regional regulatory requirements
· Review Limit structures to ensure completeness and appropriateness on a desk by desk basis. Propose new limits as and when necessary
· Investigation and analysis of risk positions as necessary with escalation as required.
· Recommend approval for new product / new business development activities.
· Identification recommendation of risk policy gaps and improvements where required including Market Risk infrastructure development
· Rates and Revaluation responsibility confirming independence and integrity of rates and sources and referring revaluation rates to Rates & Revaluation Committee for ruling where integrity or availability issues arise.
· Investigate / escalate / resolve all breaches and excess on a daily basis, investigate, including PUA, VaR, trading, stress and stop loss limit breaches
· Preparation of monthly report for China Risk, Performance and Treasury Committee
· Oversight of Liquidity Management & Funding requirements for branches in China
· Escalating control issues & monitoring of timely resolution