Job Title:         Market Risk Analyst - UK

 

Client:             Banking

 

Location:         United Kingdom

 

Salary:             Competitive Salary Package + Benefits

 

Job Purpose:

Reporting directly to the CRO, the Market Risk Analysts roles involves the identification, assessment, measurement, management, monitoring and reporting of the market risks (including liquidity and capital) facing the Bank. The role forms part of the Second Line of Defence.

 

Risk Responsibilities:

• Working closely with the CRO on the development of the market risk strategy and a clear risk appetite statement, including supporting Risk policies for the Bank in line with overall Bank business strategy.
• Provide input into to the overall Bank business strategy, with specific reference to market risk.
• Assists the CRO to:
  • Develop and implement a suitable market risk framework and infrastructure;
  • The ongoing review and maintenance of the framework ensuring it remains fit for purpose.
  • Build and maintain a risk monitoring reports for large exposure;
  • Maintain and ensure the accuracy of the Bank’s stress testing environment (liquidity, capital, fixed income credit and interest rate risk – as appropriate);
  • Produce the daily market risk pack and ensure the accuracy thereof;
  • Develop suitable policies including the determination of a limit structure and thresholds; and
  • Ensure a strong and proactive risk management culture is embedded in the Bank at an operational level, instilling a culture of risk awareness to encourage good risk management practices throughout the organisation.
• Maintain and update relevant desktop procedures.
• Provide advice and guidance on market risk management practices to all staff, and act as subject matter expert.   
• Monitor major and critical risk issues, track developments and escalate to the CRO
• Cross functional liaison with Compliance, Operational Risk and Internal Audit on risk matters to ensure there is an integrated risk/audit/compliance road map or framework to mitigate these risks.
• Provide input into regulatory returns (weekly, monthly, quarterly, annually) and ICAAP and ILAAP, and assist the CRO with the review of relevant risk related regulatory returns.
• Provide commentary and analysis and targeted management information for informed decision making.
• Assist the CRO in providing risk related awareness and training to all staff, supported by effective risk policies, procedures and documentation in place.
• Involvement in new product development, new initiatives and activities.
• Assist Operational Risk to verify system accounts (FT/FC).
• Assist the Head of Credit Risk to produce Annual reviews for all Countries and Counterparties.

Membership of Governance and other Key Committees

• ExCo Sub Committees: ALCO (Secretary) and Risk Committee (Invitee)

Experience:

Technical:

• A good understanding and working knowledge of:
  • Treasury products and services and how they translate into market risk.
  • The Bank’s overall product offering and how they impact on liquidity and capital.
  • The regulatory liquidity and capital rules and drivers.
  • The regulatory stress testing requirements.
• Sound financial modelling skills

General:

• General experience and background experience for successful execution of the role.
• Banking experience, particularly in a UK-based, foreign owned institution.
• Emerging markets experience.
• Ability to anticipate market risk issues, identify solutions quickly and provide clear guidance to mitigate the risks
• Analytical skills to assess data and interpret the potential impact of market risks on the Bank

Qualifications/Education/Training

What technical and general training or qualifications are required to do the role?

Essential:

• Degree educated; or
• Relevant business experience

Desirable:

• Post graduate qualification in finance, mathematics, statistics, economics or similar.

Member of a relevant professional institute

 

Key Competencies
Market Knowledge	Awareness and understanding of the wider business, economic and market environment in which the Bank operates: Knowledge of the regulatory and legislative developments affecting the UK and African banking market that the operates in Knowledge of the competitive environment the Bank operates in – countries, customer and competitors – and any risk implications associated
Business Strategy & Business Model	Awareness and understanding of the the Bank business strategy: Ensuring the business plan is compliant with the regulatory rules and regulations and considers known risks. Ensure that Market Risk operational processes and procedures are embedded in the business model Business continuity plan tested and maintained from a Market Risk perspective
Risk Management & Control	Identify, assess, monitor, control and mitigate risks to the Bank: Identify and analyse all risks which could impact the Bank particularly, Market Risk, and awareness of: Repricing Liquidity Market Operational (as it relates to market risk) Economic/Political Assist in development of mitigating courses of action to counter the risks should they arise: Stress testing Volatility analysis Identify control weaknesses Second line of Defence in Risk Framework
Financial Analysis & Costs	Interpret Bank’s financial information, to identify key issues based on this information and to put in place appropriate controls and measures: Monitor and track the financial impact of risks materialising for the Bank Zero Regulatory fines
Governance Oversight & Controls	Assess the effectiveness of the Bank’s arrangements to deliver effective governance, oversight and controls in the business and, if necessary, to oversee changes in these areas: Provide risk governance, ensuring an effective risk governance framework is in place.
Regulatory Framework & Requirements	Awareness and understanding of the regulatory framework in which the Bank operates and the regulatory requirements and expectations: Ensuring the Bank is compliant with UK legislation, regulations and regulatory permissions Input into Regulatory Reports, including ICAAP, ILAAP, Recovery/Resolution Planning (RRP) Horizon monitoring and regulatory radar Comply with FCA and PRA conduct rules.
Per Regulators Conduct Rules	Acts with Integrity, due skill, care and diligence. Is open and cooperative with the Regulators. Pays due regard to customer interests and treats them fairly. Observes market conduct standards.

 

Key Performance Indicators

•           Zero sanctions

•           Zero breaches of Limits and risk policies unidentified on the same dates as which any occur

•           KYC - customer checks carried out in a timely manner

•           Risks identified and plans for mitigation produced to avert risk

•           Zero Audit points left outstanding for more than 3 months

 

KRI’s – Key risk indicators:

•           Utilise key risk indicators to measure how risky and an event is likely to be for the Bank, to highlight the possibility of future adverse impact on the Bank

 

Maintenance of Role Profile

The role holder is responsible for the on-going review and maintenance of their own role profile to ensure that it is up to date and reflects the current:

•           role purpose, responsibilities, accountabilities and competencies required

•           organisational structure for reporting lines and lines of delegation of authority

Ensure that:

•           any material changes to the above are agreed with your line manager, flagged with the Head of Compliance and are advised quarterly, in arrears, to the Remunerations and Nominations Committee via EXCO.

•           previous versions are kept for reference, a version is emailed to Head of HR and your line manager, and a signed version is kept on file for regulatory and audit purposes.