Manager, Market Risk

Ernst & Young Advisory Services Sdn Bhd; London; On-site; GBP 70,000 - 95,000; Full time

Job summary

A leading advisory firm is seeking a Market Risk Manager to lead client engagements and manage risk transformation projects in London. The ideal candidate has a strong background in mathematical modeling and risk management practices, along with experience in derivatives. This role offers competitive remuneration and development opportunities in a supportive environment.

Benefits

Competitive remuneration

Flexible working

Career development support

Qualifications

• Strong academic background with at least a 2:1 Bachelor's degree.
• Solid understanding of derivative pricing and market risk.
• Knowledge of statistical techniques in traded risk.

Responsibilities

• Lead client engagements in Market and Counterparty Credit Risk.
• Draft presentations and reports for senior stakeholders.
• Contribute to business development materials.

Skills

Mathematical modelling

Risk management practices

Communication skills

Project management

Client management

Education

2:1 Bachelor's degree

Tools

Python

C++

C#

Job description

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EY is looking for aMarket Risk Manager (Quant)with strong analytical skills, traded risk expertise, and experience in derivative products to join theMarket Risk teamwithin theRisk Consultingbusiness. This is a full-time, London (UK)-based role.

The team works with clients in Financial Services facing regulatory and risk challenges in areas such as Market, Counterparty, Credit, and Climate Risk. This is a rapidly growing area, supported by increased industry focus. It’s a great time to join a high-profile team where you’ll be surrounded by knowledgeable colleagues and exciting project opportunities to learn and further develop your skillset and career.

The Opportunity

As a Manager, you will lead client engagements or workstreams and participate in internal projects. On a day-to-day basis, you’ll deliver complex risk and regulatory transformation engagements—from strategy through to implementation. Depending on the role, you may have line management responsibilities and own specific client deliverables from inception to completion, in consultation with EY leadership.

A key part of your role will be to actively establish, maintain, and strengthen internal and external client relationships. You will also support internal go-to-market proposition development on relevant risk solutions (e.g., FRTB, risk transformation, data and technology, CCR management), contribute to thought leadership, and support the sales process through proposal development and closure—providing a unique blend of skills to grow your career within the firm.

As a Market Risk professional, you’ll work on a variety of complex and high-profile projects with some of the largest financial institutions globally, focusing on traded products and a wide stakeholder landscape across Front Office, Risk, Model Development and Validation, Model Governance, Finance, and Technology functions. Example topics include:

• Strategic business growth and regulatory remediation initiatives (PRA, ECB, OCC/Fed)
• Capital optimisation and financial resource management
• FRTB and trading book wind-down
• Model governance, risk, and controls across the three lines of defence
• Future of risk, emerging digital assets, and sustainability agenda

In line with our commitment to quality, you’ll ensure work is of a high standard and reviewed appropriately. As an influential team member, you’ll help foster a positive learning culture and coach junior colleagues.

Key Responsibilities

As a Manager, you can expect to be involved in the following activities:

• Participate in Risk and Assurance engagements with a Market and/or Counterparty Credit Risk focus
• Work effectively as a team member, sharing responsibility, providing support, maintaining communication, and updating senior team members on progress
• Draft presentations, reports, and other deliverables for senior stakeholders
• Conduct performance reviews and contribute to staff feedback
• Support recruitment and other people initiatives
• Maintain an educational program to continually develop personal skills
• Contribute to internal solution development, business development materials, and EY’s market growth
• Participate in project planning and economics (e.g., budgeting, billing)

Skills and Attributes for Success

• Strong hands-on experience in mathematical modelling and risk management practices across derivatives
• Confident and credible communicator (written and verbal) with strong technical knowledge of traded products and commercial awareness
• Project management and report writing skills
• Experience in stakeholder and client management; well-organised
• Ability to support business development and contribute to EY’s market solutions and thought leadership

To Qualify for the Role, You Must Have

• Strong academic background, including at least a 2:1 Bachelor's degree
• Solid understanding of derivative pricing, market risk, and CVA methodologies, including greeks, market data, and capital calculations
• Knowledge of statistical and numerical techniques used in traded risk methodologies
• Hands-on experience with programming languages (e.g., Python, C++, C#)
• Experience managing small teams and reviewing deliverables
• Strong communication skills and commercial understanding
• Ownership of tasks, timely delivery, and project management experience
• Soft skills: teamwork, collaboration, inclusiveness, flexibility, proactiveness, and motivation

Good to Have

• Experience with Risk Data & BCBS 239: Market Risk and Counterparty Credit Risk reporting (e.g., risk appetite, ICAAP, SREP, COREP), data lineage, data quality metrics, and controls design
• Experience with software development environments (e.g., VBA, Java, C++, SQL, R, Matlab, .NET) and project management tools (e.g., Tableau, MS Project)
• Understanding of risk and controls, risk appetite, frameworks and policies, target operating models, governance, traded risk measurement, internal model permissions, and regulatory interactions

What We Look For

We’re interested in people with the right attitude—entrepreneurial individuals who thrive in a global team. You’ll need a balance of technical and analytical skills, creativity, and strong communication. If you have bold ideas and the confidence to share them, this role is for you.

What Working at EY Offers

We offer a competitive remuneration package, rewarding both individual and team performance. Our Total Rewards package includes flexible working, career development support, and benefits tailored to your needs—covering holidays, health and well-being, insurance, savings, and a wide range of discounts and promotions.

We also offer:

• Continuous learning: Develop the mindset and skills to navigate what’s next
• Success as defined by you: Tools and flexibility to make a meaningful impact
• Transformative leadership: Insights, coaching, and confidence to lead
• Diverse and inclusive culture: Be embraced for who you are and empowered to help others

If you meet the criteria above, we’d love to hear from you.

The exceptional EY experience. It’s yours to build.
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EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.