Junior Market and Counterparty Credit Risk Manager

7 days ago

Mumbai, Maharashtra, India Investec Full time
Investec is a distinctive Specialist Bank serving clients principally in the UK and South Africa.

Our culture gives us our edge:

we work hard to find colleagues who'll think out of the ordinary and we put them in environments where they'll flourish.

We combine a flat structure with a focus on internal mobility.

If you can bring an entrepreneurial spirit and a desire to learn and collaborate to your work, this could be the boost your career deserves.

Team description

As part of the second line of defence, the Market Risk team is responsible for the oversight, control, governance and reporting of both market risk taking activities and counterparty credit risk taking activities within the trading book, ensuring an effective day-to-day operation of the risk management frameworks.

Description of role and key responsibilities
As part of your BAU responsibilities, you will be expected to:

  • Act as the 2LoD to proactively identify, quantify and monitor all market and / or counterparty credit risks for your assigned Trading Desks. This includes investigating and assessing any of these risks arising in the Desk, and ensuring they are well understood by management.
  • Monitor all limits on a daily basis. Ensure daily breaches, exceptions or technical issues are pro-actively dealt with and escalated as necessary.
  • Design, develop and generate accurate and meaningful risk reports that can be quickly generated with minimal manual intervention, using risk systems (Chi, EME) as well as Python and PowerBI. These reports must be distributed to dealers and senior management in a timely manner, on a daily basis (or as required). The reports should reflect the relevant portfolio risks, explaining the risk movements, and include additional value-add analysis as required.
  • Develop Python-based tools that assist you in providing accurate and meaningful risk insights, and / or which help the team or broader business to improve efficiency.
  • Understand the trading environment in which your assigned Desk operates, including their trading and hedging strategies, their products, and the underlying market dynamics (including liquidity).
  • Where required, you may need to analyse market and counterparty risk across the whole Trading Book portfolio, and therefore you should ensure that you maintain a broad understanding of the different Desks and their respective markets.
  • Assist and provide cover for other individuals within the team with their risk reporting responsibilities.
  • Recommend and motivate risk limits for your assigned Desks within the approved Risk Appetite. Advise traders of credit line availability and utilization where necessary. Upload limits promptly and accurately.
  • If required, you may need to learn to investigate and explain changes in either the Trading Book Regulatory Capital, the derivatives margins, XVA
reserves or other related metrics.

  • Assist in the preparation of risk reports for PRA Regulatory Capital reporting, Review ERRF, Board Risk and Capital Committee on periodic basis.
  • Where needed, specify and test any risk system changes.
Core skills and knowledge
Technical knowledge that is a pre-requisite for the role:

  • A strong ability to code in Python.
  • Knowledge of applied mathematics and / or numerical techniques employed within financial models, for example Monte Carlo, Finite Differences, lattice methods, etc.

Educational Background:

  • A Bachelor's degree (or higher) in a numerical (this can be applied maths such as engineering, or pure maths) or computer science discipline.
Core skills and personal attributes that are required for the role:

  • Analytical and numerate. A problem solver. Able to interpret information in order to be able to "tell a story".
  • Diligent, with strong attention to detail.
  • A hands-on, pragmatic approach, and an ability to self-manage, research, design, prioritise, implement and deliver work in a time-efficient manner.
  • Willingness to learn and ability to pick up new skills and technologies.
  • A self-starter who takes initiative and has both commitment and enthusiasm to follow projects to completion.
  • An ability to think independently and challenge the status quo in order to improve controls and identify efficiencies.
  • Excellent communication (both written and verbal), adapting language and approach to the audience. An ability to present complex issues clearly.
  • An ability to think holistically

Market Knowledge:
A general awareness of the market/economic landscape.

  • Demonstrate an energetic, passionate, creative and resilient outlook (willing to continue trying after failure).
  • Be proactive, self-motivated. Have a natural thirst for self-development.
  • Challenge the conventional norm. Have a mindset to challenge the current process and to suggest improvements and enhancements.
  • Honest. Act with integrity at all times and embrace the philosophy of doing the right thing and treating our customers fairly.
  • An ability to collaborate across functions effectively.
Additional technical knowledge that are essential to the role but which can and will be developed when in the role:

  • An ability to use PowerBI to build and / or edit reports
  • An understanding of market and / or counterparty credit risk management principles and practices.
  • An understanding of financial products across different asset classes (including appropriate pricing models and risk methodologies) and a good understanding of the associated trade lifecycle process.
  • Knowledge of risk methodologies in general (for example Value at Risk, Stress Testing, Scenario Analysis)
  • Knowledge of related risks such as credit, liquidity and operational risk, as well as how these might interact with market and counterparty credit risk.
Any other attributes that would be helpful, but not essential for the role.

  • Invite and provide regular feedback to/from team and stakeholders.
  • Provide high quality customer service. This would include resolving client queries in a timely and professional manner.
  • Punctual
  • Able to perform under pressure
  • Able to deal with ambiguity
Embedded in our culture is a sense of belonging and inclusion.

This creates an environment in which everyone is free to be themselves which helps to drive innovation, creativity and ultimately business performance.

At Investec we want everyone to find it easy to be themselves, and to feel they belong. It's a responsibility we all share and is integral to our purpose and values as an organisation.
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