Market Risk Specialist

G MASS; London; On-site; GBP 80,000 - 120,000; Full time

Job summary

A leading investment bank is seeking a Market Risk Specialist for a 6-month contract in the Middle East. The role involves defining system specifications for a new Securities Trading System, enhancing existing market risk frameworks, and ensuring regulatory compliance through robust risk reporting and testing methodologies. Ideal candidates will have extensive experience in market risk management and a proven track record in trading system implementations.

Qualifications

• Minimum of 7-10 years in market risk management, focusing on bonds and equities.
• Proven track record in trading system implementations.
• Expertise in designing risk frameworks and conducting stress tests.

Responsibilities

• Define detailed system requirements for the proprietary trading system.
• Enhance market risk governance structures and develop risk reports.
• Design limit frameworks and develop capital allocation models compliant with Basel II and III.

Skills

Market Risk Management

Risk Reporting

Stress Testing

System Testing Methodologies

Tools

Bloomberg

Murex

Calypso

Job description

I am keen to speak with, Market Risk Specialists who are keen to take on a exciting challenge with an Investment Bank, in the middle east. This is a 6 month contract which will require you to work onsite in the middle east. Client and exact location to be discussed.

The Investment bank are implementing a new Securities Trading System and they require a Market Risk Specialist to define system specifications, design and build risk reports, establish a robust limit structure, conduct comprehensive testing, and document procedures, acting as the leading authority with minimal reliance on in-house input. As a key member of a cross-functional project team under overall project management, the Market Risk Expert will drive the project through design, build, testing, and go-live phases, ensuring alignment with business objectives and regulatory requirements. The role reports directly to the Head of Risk and the COO, who is leading the project.

Responsibilities include:

• Independently define detailed system requirements and specifications for the proprietary trading system, collaborating with the trader, IT, and other stakeholders with limited in-house expertise.
• Enhance and update the banks existing market risk governance structures, including escalation committees, model governance protocols, and clear ownership for limit monitoring, breaches, and remediation.
• Develop and implement risk reports, models, and tools to monitor traded and non-trade market risk exposures, including but not limited to; Value-at-Risk (VaR), sensitivity analysis, and portfolio stress tests, with minimal guidance from the organization.
• Design and execute backtesting models to validate VaR and other model outputs, ensuring regulatory compliance with Basel backtesting standards and regulatory requirements
• Ensure risk reporting supports regulatory capital computation and attribution, aligned with Basel II and Basel III FRTB standards
• Design and implement limit frameworks with dynamic calibration logic to ensure limits remain risk-sensitive and adaptive to portfolio composition, market volatility, and liquidity conditions, including monitoring tools that automatically adjust or flag limits as market conditions evolve
• Independently develop and validate severe but plausible market risk scenarios, aligned with regulatory expectations under CBO Circular BM-1200, and integrate these into capital and risk reporting
• Develop capital allocation models compliant with Basel II and Central Bank regulations for market risk capital and Basel III FRTB standards, including standardised and internal models approaches as appropriate.
• Lead the design and integration of market risk components into the ICAAP framework, ensuring alignment of risk quantification, capital planning, stress testing, and governance with regulatory expectations.

• Minimum of 7-10 years of experience in market risk management within proprietary trading or investment banking environments, with a focus on bonds and equities.
• Essential: Clear, proven track record of successfully delivering similar trading system implementation projects (e.g., risk management system upgrades or new system deployments) at a previous organization, with demonstrable outcomes, achieved independently as the primary expert.
• Extensive experience in autonomously designing risk frameworks, writing risk policies, devising testing protocols, and conducting stress tests for prop trading.
• Familiarity with trading systems (e.g., Bloomberg, Murex, Calypso, or similar) and their risk management modules.
• Strong understanding of risk metrics (VaR, Greeks, stress testing) and financial instruments (bonds, equities)
• Expertise in system testing methodologies and tools, with the ability to design tests from scratch.

Rate to be discussed.