Market Risk Specialist

Open Systems Technologies

Mississauga

On-site

CAD 75,000 - 95,000

Part time

14 days+

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Job summary

A global financial services company is seeking a Market Risk Specialist to ensure compliance with the Volcker Rule within its operations. Responsibilities include managing governance controls, partnering with stakeholders for Volcker compliance, and addressing regulatory queries. Ideal candidates will possess knowledge of global market trading products, risk management, and regulatory rules, alongside a relevant degree. This mid-senior level contract position is based in Mississauga, Ontario, Canada.

Qualifications

Knowledge of global markets trading products and services.
Understanding of Front Office trading processes and trade lifecycle.
Knowledge of market risk and regulatory rules beneficial.

Responsibilities

Ensure accuracy of Desk Mandate documents as a SME.
Partner with stakeholders to monitor Volcker compliance.
Identify and manage risks and dependencies on projects.
Assist in regulatory examinations and updates to Volcker hierarchy.

Skills

Knowledge of global markets trading products

Understanding of Front Office trading processes

Knowledge of market risk and regulatory rules

Experience with regulatory rules

Risk management data analysis proficiency

Education

Bachelor’s degree

Masters degree

Job description

Global Markets provides world-class solutions that are as diverse as the needs of the corporates, institutions, governments, and individual investors we serve in 160 countries and territories. The breadth, depth, and strength of our underwriting, sales and trading, and distribution capabilities span asset classes and currencies, sectors and industries, covering a vast array of products.

The Volcker Rule Office (VRO) is a first line function which provides overall coordination and monitoring in support of client’s Volcker Compliance Program. Responsibilities include monitoring and maintenance of the central control framework as well as coordinating engagement with client’s lines of defense. The VRO works closely with the Businesses, Independent Risk Management, Compliance, Legal, Finance, and others. The team oversees operation of key processes and controls for the firm including the following areas: Desk structure, Desk mandates, trading / hedging strategies, products, limits, covered funds and metrics reporting to the Volcker Regulators. As a member of the Volcker Rule Office, you will deliver integrated solutions supporting client’s global Volcker Rule compliance program among other regulatory deliverables.

Responsibilities

The candidate will be responsible for Volcker governance controls including: Ensuring the accuracy and completeness of Desk Mandate documents; Acting as a SME in respect to the Volcker Rule and ensuring compliance with the relevant standards and procedures; Review of newly approved products to ensure they are appropriately scoped.
Partner with key stakeholders to monitor changes in business activity. Assess any Volcker implications and support the business in ensuring Volcker compliance requirements are met on an ongoing basis. Key subject areas include but are not limited to Trading Desk Mandates and Risk Mitigating Hedging effectiveness monitoring.
Partner with Technology teams to develop sustainable solutions supporting the Volcker Program including enhanced controls and streamlining/automation initiatives.
Identify, prioritize and proactively manage dependencies, risks, exceptions and issues.
Coverage of specific desks leveraging the Risk Mitigating Hedging (RMH) exemption including: Documentation and analysis of the desks hedging strategies alongside Market Risk Management (MRM); Assessment of the effectiveness of the hedging program utilizing risk reporting tools; Quarterly review and assessment with business Senior Management and MRM.
Variety of project work including: Assisting in the response to regulatory examinations and queries from Regulators; Assisting all business lines across Markets and other stakeholders in managing updates to their Volcker hierarchy including desk splits, mergers and closures; Testing and validation of system improvements; Design and implementation of controls; Partnering with audit and independent control teams to ensure compliance to the Volcker Rule.
Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm’s reputation and safeguarding client and its assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency, as well as effectively supervising the activity of others and creating accountability with those who fail to maintain these standards.

Qualifications

Knowledge of global markets trading products and services, e.g. Fixed Income, Equity, Currencies & Commodities.
Understanding of Front Office trading processes and trade lifecycle within a large bank/dealer.
Knowledge of market risk and/or regulatory rules pertaining to risk is advantageous.
Experience with regulatory rules and ideally in delivering regulatory initiatives.
Exposure to analyzing legislative and regulatory texts and associated legal analysis.
Proficiency in risk management data analysis and tools is a plus.

Education