Position Title: Product Risk Manager (fixed-income products)
Job Family: Product Risk
Duration: 2- 4 months
Location: NYC (Wall Street)
Department Function: One of the main functions of the department is to protect the safety and soundness of the markets in the areas of clearance and settlement. This function is accomplished by the roles of the various areas in the department, Credit & Product Risk, Quantitative Analysis and Operational Risk Management.
The GSD Product Risk division of Enterprise Risk Management is responsible for assessing and managing financial risks associated with trade capture/comparison, netting and settlement services of the Government Securities Division ("GSD").The GSD compares transactions in eligible Treasury bills, notes, bonds, and zero-coupon securities, as well as book-entry non-mortgage-backed agency securities. The transactions are then netted into one position per issue, whereby the GSD becomes the counterparty for settlement purposes for each net position. The GSD Product Risk division must mitigate risks stemming from both market and credit influences via the application of margining methodologies, practices and the proactive assessment of GSD's products, services and members.
· Under direction, manages moderately complex product management projects and reviews market exposures for multiple portfolios of member firms. Also, coordinates and supervises daily activities of the senior analysts and analysts.
· Provides guidance on the performance of research to support margining methodologies
· Identifies and implements new margining methodologies and enhancements of existing methodologies
· Develops plan for the management of the moderately complex project deliverables including coordinating efforts of a variety of functional areas to ensure projects are completed on time and within budget.
· Performs development initiatives for the moderately complex projects in a manner consistent with processes and procedures
· Responsible for the resolution of issues relating to the daily calculation and monitoring of market risk exposure in the various clearing corporations and the depository
· Provides input to the reviews and approval of all business plans submitted by a specific Product Group.
· Prepares written responses to audit and regulatory reports, establishes procedures to comply with audit, legal and regulatory requirements
· Interacts with auditors and regulators during examinations
· Identifies specific training needs and provides coaching
· Assist in the development of unit goals
· Develop and implement new, and enhance existing, policies, procedures and practices
· Contributes to supporting the department in adherence to AML/BSA policies and procedures as set-forth by various regulatory bodies
· Significant and proven experience, including strong managerial experience; exposure to fixed-income trading products and related derivative products, experience in market risk and product management.
· Excellent knowledge of fixed-income products cleared and settled through the GSD
· Excellent knowledge of member base
· Excellent analytical, problem-solving and decision-making skills
· Excellent written and oral communication skills
· Knowledge and experience utilizing and calibrating VaR methodologies and utilizing other risk management tools such as back and stress testing
· Project management and databasing skills are advantageous
· Credit and Operational risk experience beneficial
· Team player with the ability to take initiative
· Ability to work seamlessly with all levels of management throughout the organization
· Excellent managerial skills
· Ability to work well under pressure
Required Education and Training
· Degree in Accounting, Finance, Business or Economics.
· MBA Preferred.
· Supervises staff of 2-4
· VP or Product Risk Director
If you are interested in the above position, please send me an email and include the following:
-MS Word Resume
-Current and Required Compensation Details
-Current work status
-Current Contact Information
-Availability to start a new opportunity in NYC
Upon receipt of this information, one of our managers will contact you to discuss the opportunity in full