Market Risk Manager

Hong Kong Exchanges and Clearing; London; On-site; GBP 70,000 - 90,000; Full time

Job summary

A leading company in the financial sector is seeking a Market Risk Manager to oversee risk management activities and lead a team. The role involves monitoring market volatility, developing methodologies, and ensuring compliance with risk policies. Ideal candidates will have a strong background in risk management, especially in commodity markets, and possess excellent analytical and communication skills.

Qualifications

• Strong experience in risk management within financial institutions.
• Understanding of market risk models like SPAN and VaR.

Responsibilities

• Lead daily monitoring of market risk and margin parameters.
• Manage tasks across junior team members and ensure high-quality work.
• Develop risk management solutions for cleared positions.

Skills

Analytical Skills

Communication Skills

Self-Motivation

Persuasion Skills

Education

University Degree

CFA or FRM

Job description

Market Risk Manager

Shift Pattern:
Standard 40 Hour Week (United Kingdom)

Scheduled Weekly Hours:
40

Corporate Grade:
C - Vice President

Reporting Line:
(UK Division) Risk - 1st Line

Location:
UK-London

Worker Type:
Permanent
Overall Purpose of Role:

To support the Head of Quantitative and Market Risk to develop the market risk function. To lead in the daily monitoring of the LME market, member portfolios and market risk methodologies. To direct activities and development of junior staff.

Responsibilities:

• Market Risk
  
  • Understand thoroughly the nature of the Clearing House, working closely with the Head of Quantitative and Market Risk and Head of Clearing Risk to provide input and advice on market risk related issues.
  • Lead the team on the BAU activities of the market risk team to monitor current market volatility and ensure margin parameters and collateral haircuts are appropriate. Ensure backtesting results are analysed to ensure the accuracy of current parameters.
  • Support the identification and assessment of emerging market risks through proactive horizon scanning and analysis.
  • Ensure the team maintain all internal operational procedures.
  • Provide pro-active qualitative and quantitative input into the documentation of risk methodologies.
  • Monitor, and where necessary investigate, or escalate, operational performance, positions or trading behaviour of clearing members and market participants
  • Assist to develop risk management solutions related to concentrations of cleared positions and market liquidity.
  • Maintain a suite of suitable stress scenarios applied daily across the cleared products and member collateral.
  • Ensure models are appropriately back tested as per methodologies and policies and developed with due consideration to control model risk
  • Ensure default management capabilities are sufficient to manage a default in line with LME Clear regulations. Lead in regular default management exercises.
  • Manage any new product development process from initial assessment, through official approval process to effective implementation within BAU processes.
  • Strong relationship management internally and externally, working with market participants to improve service offering whilst retaining risk robustness.
  • Lead in organisation of Risk Advisory Group to provide insight into market risk activities to Members and gain and escalate feedback

• Team Management
  
  • To manage the assignment of tasks across junior members of the team, review risk committee papers.
  • Lead the team in the completion of action items, be accountable for delivery of open action items, liaising with other remember of the Market Risk & Quantitative team as appropriate.
  • Challenge the team to strengthen existing market risk methodologies
  • Motivate direct reports and overall team to persistently deliver high quality work in BAU, set high behaviour standards aligned to Group core values, aim to achieve high staff engagement scores within the department
  • Be responsible for maintaining and enhancing existing risk management tools and systems to meet demands for new products or services or to meet improving regulatory or industry standards, and that team are efficiently interacting with all systems
  • Ensure models are developed with due consideration to control model risk
  • Comply with all relevant policies and internal guidance and fully cooperate with audits, investigations, queries and reporting requirements in relation to complying with relevant laws and policies.
  • Identify, report and manage any operational risks associated with the running of the team
  • Maintain and develop reporting to senior management and regulators where necessary, to ensure data is complete and accurately represented, and material risks highlighted.

Academic and Professional Qualifications Required:

• University Degree.
• Professional risk qualification (or studying towards) would be beneficial (e.g. CFA, FRM).

Required Knowledge and Level of Experience:

Candidate should have a strong level of experience of risk management within financial institution preferably covering some aspects of:

• Commodity markets.
• Understanding of market risk models. e.g. SPAN, VaR, and principles and industry best practice.
• Mechanics and processes behind clearing house risk management.
• Significant understanding of risk management principles, such as back testing and stress testing, and valuation of products.
• An understanding of operational risk management

Skills set and Core Competencies Required for Role:

• Strong analytical and practical skills.
• Excellent communication skills.
• High self-motivation and drive to develop own skills.
• Persuade and influencing skills sufficient to successfully change viewpoints and present challenging ideas to new or sceptical audience.
• Good understanding of the financial mathematics and techniques that are relevant to the LME markets.

The LME is committed to creating a diverse environment and is proud to be an equal opportunity employer. In recruiting for our teams, we welcome the unique contributions that you can bring in terms of education, ethnicity, race, sex, gender identity, expression and reassignment, nation of origin, age, languages spoken, colour, religion, disability, sexual orientation and beliefs. In doing so, we want every LME employee to feel our commitment to showing respect for all and encouraging open collaboration and communication.