Market Risk Analyst

Zenith Bank (UK) Limited.; Greater London; On-site; GBP 65,000; Full time

Job summary

A reputable financial institution in Greater London seeks a Market Risk Analyst to monitor risk portfolios and report findings. The successful candidate will have 3-5 years of experience in Market Risk, a degree in a financial discipline, and strong skills in Microsoft Excel and Python. This permanent position offers a competitive salary up to £65,000 based on experience, focusing on team collaboration and compliance with regulatory requirements.

Qualifications

• At least 3‑5 years’ experience in Market Risk.
• Sound understanding of derivative and foreign exchange trading.
• Knowledge of Basel II, Basel III, and Risk requirements.

Responsibilities

• Monitor markets to assess impacts on the bank’s portfolio.
• Report on breaches of risk management policies and limits.
• Produce daily market risk reporting for senior management.

Skills

Market Risk experience

Attention to detail

Team player

Analytical skills

Proactive self-starter

Education

Degree in a numerical/financial discipline

Tools

Microsoft Excel (Advanced)

Python

VBA

Job description

About Us

Zenith Bank (UK) Limited (ZBUK) is a subsidiary of Zenith Bank PLC, the most profitable bank in Nigeria with an established trajectory of superlative performance, as well a strong pedigree of innovation, resilience, and market dominance. On an annual basis, Zenith Bank PLC amasses a string of notable awards; one of the most recent being listed as the sole Nigerian brand on the World’s top 100 companies in 2023 by the World Finance Magazine.

Zenith Bank (UK) Limited (ZBUK) was set up with a clear strategy to leverage trade and investment flows between Nigeria and Europe, by providing intermediary banking services and facilities for trade-related working capital and capital expenditure.

Zenith Bank recognizes the importance of leveraging a highly skilled workforce to achieve its strategic and operational goals. The bank is committed to providing an environment that is conducive for effective performance by availing all staff the necessary learning opportunity. We value the well-being of our staff and we encourage them to strike a balance between their work and personal lives, thereby creating a healthy atmosphere for personal development and career success.

With the introduction of new services here in the UK and our unparalleled knowledge of business with Africa, our 5 year strategy ensures “Controlled Growth” as we aim to become the Bank of choice for businesses wishing to transact in the African continent.

Role Overview

Market Risk is a 2nd Line of Defence function primarily tasked with active monitoring of the banks risk portfolios to identify, monitor, and elevate risks and control findings effectively, to enable timely decision making by the CRO and wider ZBUK executive. Oversight extends to infrastructure, user activity and controls, compliance with Bank Risk Appetite and associated policy / project development to support the successful delivery of wider Risk projects and other regulatory publications / requirements.

Role Responsibilities

Identification

• For agreed risks (split by asset class, risk policy or otherwise) develop a detailed understanding of the risks, maintain on an ongoing basis an up-to-date situational awareness of the risks.

Monitoring

• Actively monitor markets to assess the potential impact of market movements and wider economic activity on the bank’s portfolio of proprietary and client-based FX, trading, and banking book products.
• Monitor limits for the Trading and Non‑Trading portfolios in accordance with ZBUK’s policies approved by the Board Risk Committee.
• Report on breaches of risk management policies, limits and/or controls.
• Produce daily market risk reporting and other ad hoc reporting for senior management, Treasury, and the Board.
• Present reports in a constructive, insightful, and effective way to ensure developing risks, issues and opportunities are easily understood for decision making purposes.
• Participate in the development of systems to assist in the evaluation and analysis of risk information.
• Work with a high degree of accuracy to ensure no restatement or re‑working of positions / reports is required.
• Work closely with the CRO and the wider Risk team enhancing and implementing new MI reports for Market & Liquidity Risk for the identification, collection, and analysis of risk information. Enhancement and automation of risk reports and tools with Excel functions and Python.
• Maintain and update internal procedures, RCSAs and process flows.

Escalation

• Providing on a weekly basis Market Risk reports to the Market Risk Committee and the Asset and Liability Committee.
• Delivering management information efficiently and in a timely manner.
• Be aware of and ensure compliance at all times with all applicable legal and regulatory requirements.

Additional Responsibilities

• Keep up to date with industry best practice and regulatory developments where this affects the risk management of the organisation.
• Update regulatory documents and models to support the Manager of Market and Operational Risk.
• Be a self‑starter with a proactive approach towards self‑development and broadening skills set.
• Develop tools to effectively and independently validate daily reports from Finance on liquidity and capital.
• Support and contribute to wider Risk projects and objectives as a reliable and conscientious team player.
• Together with the duties listed above the Market Risk Analyst is required to assist with other analytical and project work and ad hoc duties assigned by the CRO and comply with the FCA / PRA’s Individual Conduct Rules.

Skills and Knowledge Required

• At least 3‑5 years’ experience in Market Risk.
• Degree in a numerical / financial discipline.
• Sound understanding of derivative and foreign exchange trading.
• Driven, ambitious, self‑starter who can grasp a concept quickly and deliver a reasoned investigation and analysis.
• Attention to detail, to pick up on errors and produce accurate work, grasping of the reasons for a strong control environment and operating with this mentality.
• Knowledge of Basel II, Basel III, Risk and Capital requirements.
• Knowledge of Regulatory practices within Risk and Finance in financial services.
• Positive and approachable team player, effective and supportive in working with colleagues at all levels.
• Understanding of VaR and other measures of market exposures and accounting knowledge.
• Project management experience desirable.

Software Knowledge

• Strong IT skills, Microsoft Office package MS Excel Advanced (Essential) Python (Essential) VBA (Desired).
• MS Word and MS Outlook.
• Experience with Bloomberg an advantage, Temenos (T24).
• Calypso (Advantageous).

Specific Product Knowledge Required

• Essential: Interest Rate Futures, Foreign Exchange, Interest Rate Swaps, Bonds and NDFs.
• Desired: Wholesale Money Market and Trade Finance Products.
• Desired: Awareness of Liquidity regulatory requirements.

This is a permanent position, paying up to £65,000 based on experience.