Equity Market Risk Manager

Mizuho; Pune District; On-site; INR 3,000,000 - 6,000,000; Full time

Job summary

Mizuho Global Services (MGS) Pune is seeking an experienced Equity Market Risk Manager to provide daily risk coverage, perform independent risk assessment, and monitor limits across equity trading desks. You will challenge trading activity, explain risk movements, and escalate material concerns to senior stakeholders.

The role covers VaR, SVaR, FRTB, stress testing, and regulatory reporting with exposure to cash equities, options, futures, derivatives, and equity financing.

Qualifications

• 7+ years of experience in Equity Market Risk or related risk roles.
• Bachelor’s or Master’s degree in Finance, Mathematics, Statistics, Economics, Engineering, Quantitative Finance, or related field.
• Strong understanding of VaR, SVaR, stress testing, Greeks and sensitivities, volatility and correlation risk, backtesting, FRTB, and regulatory market risk frameworks.

Responsibilities

• Provide daily risk management coverage for assigned equity trading desks, reviewing risk reports and identifying material changes in exposures and limit utilization.
• Analyse movements in VaR, SVaR, FRTB measures, stress losses, sensitivities, volatility, and correlations; explain drivers to stakeholders.
• Independently challenge significant changes in risk exposures and trading activity; escalate material concerns to senior Market Risk stakeholders.
• Monitor portfolio concentrations across names, sectors, indices, regions, strategies; ensure exposures stay within risk appetite.
• Support new products and trading strategies by assessing risk characteristics and ensuring appropriate controls and governance.

Skills

Advanced Excel

SQL

Python

Analytical thinking

Education

Bachelor’s or Master’s degree in Finance/Math/Statistics/Economics/Engineering/Quantitative Finance

Tools

Risk systems

Data platforms

Control frameworks

Job description

At Mizuho, we provide the stability of an international industry leader with the career trajectory of a growing business. Our steady, strategic growth gives our people at all levels rewarding degrees of responsibility and richer work experience than a boutique firm or an established giant could offer alone.

It’s the local expertise of our employees that makes our global network so powerful. By collaborating with colleagues and clients who have the same ambition and drive, you can amplify your sphere of influence and base of knowledge as part of one of the largest—and growing—banks in the world.

Role Overview:

The Equity Market Risk Management team is a core function within Market Risk Management, responsible for the independent oversight and challenge of trading activities and for ensuring that associated risks are appropriately identified, measured, monitored, controlled, and reported. The team supports key market risk frameworks including Value-at-Risk (VaR), Stressed VaR (SVaR), FRTB, stress testing, sensitivities, backtesting, and regulatory risk reporting, working closely with Trading, Market Risk, Quantitative Analytics, Product Control, and Risk Technology teams.

The role is primarily an Equity Risk Manager position, with responsibility for daily desk coverage, independent risk assessment, limit monitoring, challenge of trading activity, and escalation of material risks. The successful candidate will assess changes in exposures and portfolio risk, identify concentrations and emerging risk themes, engage directly with Front Office and senior risk stakeholders, and support risk appetite, governance, and regulatory processes. The role also contributes to new product approvals, model and methodology enhancements, and market risk infrastructure change, providing broad exposure to cash equities, derivatives, volatility products, and equity financing.

Key Responsibilities:

Equity Market Risk Management

• Provide daily risk management coverage for assigned Equity trading desks, reviewing market risk reports and identifying material changes in exposures, limit utilisation, exceptions, and unusual portfolio movements.
• Analyse and explain movements in VaR, SVaR, FRTB measures, stress losses, sensitivities, volatility and correlation exposures, and other relevant market risk metrics.
• Independently challenge significant changes in risk exposures and trading activity, engage with Front Office to understand key drivers, and escalation of material concerns to senior Market Risk stakeholders.
• Monitor portfolio concentrations across single names, sectors, indices, regions, strategies, maturities, volatility surfaces, and basis risks, and assess whether exposures remain within approved risk appetite.
• Perform VaR and FRTB-related analysis, including backtesting reviews, exception investigations, modellability, and risk-factor coverage assessments.
• Assess the impact of market events, earnings announcements, corporate actions, volatility shifts, correlation changes, concentration risks, and stressed market conditions on portfolio risk profiles.
• Support new products, trading strategy, and business initiative approvals by assessing risk characteristics and ensuring appropriate limits, measurement, reporting, controls, and governance are established.
• Work closely with Market Risk Managers, Front Office, Quantitative Analytics, Product Control, and Risk Technology teams to resolve risk issues and support methodology or product enhancements.
• Support regulatory initiatives and strategic programs relating to FRTB, model governance, risk capital, and market risk infrastructure improvements.
• Define and execute test scenarios, perform UAT, validate results, and coordinate issue resolution for risk system enhancements and change initiatives.
• Identify weaknesses in risk data, controls, calculations, or reporting processes and drive remediation with relevant stakeholders.
• Prepare risk analysis and management information for senior risk stakeholders, governance forums, limit reviews, and regulatory reviews.
• Contribute to automation and analytical initiatives that enhance risk reporting, transparency, and operational effectiveness.

Qualifications

• 7+ years of experience within Equity Market Risk, Equity Derivatives Risk, Market Risk Analytics, Product Control, Quantitative Risk, or a related traded-risk management function.
• Bachelor’s or Master’s degree from a Tier 1 or Tier 2 university in Finance, Mathematics, Statistics, Economics, Engineering, Quantitative Finance, or a related quantitative discipline.
• Strong understanding of market risk methodologies including VaR, SVaR, stress testing, Greeks and sensitivities, volatility and correlation risk, backtesting, FRTB, and regulatory market risk frameworks.
• Strong product knowledge across cash equities, equity options, futures, swaps, listed and OTC derivatives, structured products, volatility products, and equity financing.
• Experience providing trading desk risk coverage, independently challenging risk movements and trading activity, monitoring limits and concentrations, escalating material issues, and interpreting risk metrics to support risk management decisions.
• Demonstrated ability to collaborate across Market Risk, Front Office, Quantitative Analytics, Technology, and Change teams.
• Strong analytical and problem-solving capabilities with the ability to communicate complex risk concepts effectively

Technical Skills (All Levels)

• Advanced Excel; SQL and Python required.
• Familiarity with risk systems, data platforms, and control frameworks.
• CFA / FRM / CQF is an advantage.

Organization Overview:

Mizuho Global Services (MGS), Pune is an integral part of Mizuho Financial Group, one of the world’s leading financial institutions with a strong global presence across the Americas, EMEA, and Asia. Based in India, MGS Pune supports Mizuho’s international businesses by delivering high-quality, scalable, and resilient services across multiple functions.

MGS Pune plays a critical role in driving operational excellence, standardization, and innovation for Mizuho Americas. By combining deep domain expertise with strong process, technology, and analytical capabilities, it partners closely with regional and global teams to support corporate and investment banking, capital markets, and corporate services functions, while adhering to the highest standards of risk management, regulatory compliance, and control.

MGS Pune offers competitive compensation and benefits package aligned with industry standards and local market practices.

MGS Pune is an equal opportunity employer and is committed to fostering an inclusive and diverse workplace.

Employment is subject to applicable background verification checks in accordance with Indian laws and company policies.