Credit Risk Manager - Trading Oversight (Outsourced Desk)

Square One Resources; City Of London; On-site; GBP 60,000 - 80,000; Full time

Job summary

A leading consultancy is seeking a Credit Risk Manager to oversee the credit risk lifecycle for a new outsourced trading desk. The role involves monitoring trading activities, performing counterparty assessments, and developing risk frameworks. Ideal candidates will have significant experience in credit risk management and a solid understanding of trading products.

Qualifications

• 5-10 years in credit risk or trading control function.
• Solid understanding of trading products and counterparty credit risk.

Responsibilities

• Monitor daily trading activity and exposures.
• Produce daily and weekly credit exposure reports.
• Contribute to the creation of the Credit Risk Policy.

Skills

Credit Risk

Market Risk

Communication

Excel

Python

SQL

Job description

Job Title: Credit Risk Manager - Trading Oversight (Outsourced Desk)
Location: London - on-site
Salary/Rate: £575-675 Per day
Start Date: 02/06/25
Job Type: 6 or 12 month initial contract - Outside IR35

Company Introduction

We have an exciting opportunity now available with one of our sector-leading consultancy clients! They are currently looking for a Credit Risk Manager to design, implement, and operate a fit-for-purpose credit risk management function for a newly established outsourced trading desk for a Fintech firm in London.

Job Responsibilities/Objectives

You will be responsible for owning the credit risk lifecycle - from counterparty assessment and exposure monitoring to governance reporting and policy development - ensuring that the trading activity is conducted within defined risk appetite and regulatory expectations.

1. Credit Risk Oversight

• Monitor daily trading activity and exposures to ensure alignment with counterparty limits and risk appetite.
• Flag and escalate credit limit breaches, exceptions, or risk concerns.
• Track counterparty settlement and mark-to-market exposure, across asset classes.

2. Counterparty Risk Assessment

• Perform and maintain credit assessments and internal risk ratings for trading counterparties (brokers, banks, clients).
• Support onboarding due diligence and periodic credit reviews.
• Maintain a list of approved counterparties and associated limits.

3. Limit Framework & Exposure Monitoring

• Maintain and refine the counterparty credit limit framework.
• Use in-house or third-party tools (e.g. Excel, risk systems, or vendor platforms) to track current and potential future exposures.
• Ensure controls are in place to capture off-balance-sheet exposures (e.g. derivatives, unsettled trades).

4. Reporting & MI

• Produce daily and weekly credit exposure reports for internal stakeholders (e.g. COO, trading lead).
• Prepare input for monthly risk meetings and board packs.
• Maintain audit trails and documentation for all limit approvals, exceptions, and policy decisions.

5. Risk Framework Development

• Contribute to the creation and maintenance of the Credit Risk Policy, procedures, and governance framework.
• Help define stress testing, escalation protocols, and exception handling procedures.
• Work closely with compliance and operations to ensure cross-functional risk alignment.

Required Skills/Experience

The ideal candidate will have the following:

• 5-10 years in a credit risk, market risk, or trading control function (buy-side or sell-side).
• Solid understanding of trading products (equities, FX, fixed income, derivatives) and counterparty credit risk principles.
• Experience using exposure models (e.g., PFE, CVA) is a plus, but not required for initial setup.
• Strong Excel and/or exposure management tools; Python or SQL is a bonus.
• Comfortable working in a start-up or "build-from-scratch" environment.
• Excellent written and verbal communication, particularly for policy writing and reporting.

Preferred Background

• Prior experience at a hedge fund, asset manager, or trading firm.
• Exposure to outsourced trading or broker/dealer models.
• Familiarity with relevant regulations (e.g., EMIR, Basel III, MiFID II) is advantageous.

Governance & Collaboration

• Liaise with outsourced trading partners, brokers, and custodians on credit and risk matters.
• Partner with internal operations, compliance, and finance teams.
• Participate in periodic risk and governance meetings to review exposure and performance.

If you are interested in this opportunity, please apply now with your updated CV in Microsoft Word/PDF format.

Disclaimer
Notwithstanding any guidelines given to level of experience sought, we will consider candidates from outside this range if they can demonstrate the necessary competencies.

Square One is acting as both an employment agency and an employment business, and is an equal opportunities recruitment business. Square One embraces diversity and will treat everyone equally. Please see our website for our full diversity statement.