Associate, Market Risk

Santander; New York (NY); On-site; USD 90,000 - 155,000; Full time

Job summary

An established industry player is seeking an Associate in Market Risk to support Fair Valuation processes. This role involves conducting IPV analyses, managing risk factors, and ensuring compliance with market best practices. The ideal candidate will have strong analytical skills, proficiency in Excel and Python, and a solid understanding of financial markets. Join a dynamic team where your contributions will drive innovation and enhance risk management strategies in a collaborative environment that prioritizes personal and professional growth.

Qualifications

• 5+ years in Market Risk Management/Product Control.
• Experience in Fair & Additional Valuation Adjustments.

Responsibilities

• Perform bi-weekly IPV to ensure valuation accuracy.
• Analyze and control price sources for consistency.

Skills

Excel

Python

SQL

VBA

Statistical methods

Analytical skills

Education

Bachelor's Degree in Business, Finance, or Management

Master’s degree in Financial Mathematics or related field

Tools

Murex

Bloomberg

Job description

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Your Journey Starts Here

Santander is a global leader and innovator in the financial services industry. We believe that our employees are our greatest asset. Our focus is on fostering an enriching journey that empowers you to explore diverse career opportunities while nurturing your personal growth. We are committed to creating an environment where continuous learning and development are prioritized, enabling you to thrive both professionally and personally. Here, you will find ample opportunities to connect and collaborate with talented colleagues from around the world, sharing insights and driving innovation together. Join us at Santander, where you are supported by a culture of engagement and a commitment to your success.

Country: United States of America

Your Journey Starts Here

Santander is a global leader and innovator in the financial services industry. We believe that our employees are our greatest asset. Our focus is on fostering an enriching journey that empowers you to explore diverse career opportunities while nurturing your personal growth. We are committed to creating an environment where continuous learning and development are prioritized, enabling you to thrive both professionally and personally. Here, you will find ample opportunities to connect and collaborate with talented colleagues from around the world, sharing insights and driving innovation together. Join us at Santander, where you are supported by a culture of engagement and a commitment to your success.

An exciting journey awaits, if you are interested in exploring the possibilities We Want to Talk to You!

USA Job Family Description: Monitors activities to minimize the company's exposure to risk. Activities may include quantitative analysis, risk identification and remediation. Represents or supports the reputation of the company to minimize compliance and regulatory risk by resolving issues and ensuring adherence to company and legal standards. Responsible for ensuring that all of the company's activities adhere to the necessary rules and regulations, and that the company complies with legal/regulatory statutes and jurisdictions.

USA Job Function Description: The Associate market risk product controller will support the Executive Director of Market Risk IPV in maintaining and executing the Fair Valuation processes within the Market Risk area. The role ensures US-owned risk factors are correctly defined and configured in valuation systems according to market best practices and standards. The Associate will assist in conducting IPV analyses, generating valuation adjustment metrics, and reviewing asset levelling reports.

Essential Functions/Responsibility Statements

Perform bi-weekly IPV to contrast market data inputs and prices used in official valuation vs. alternative market sources (including collateral valuations).

Analyze, review and control alternative price sources used in IPV to ensure input consistency.

Perform bi-weekly FVA calculations and quarterly AVA calculations and certify accuracy and adequacy of results.

Identify inconsistencies in IPV/FVA/AVA and liaise with stakeholders to resolve/escalate the issue.

Support the design & implementation of new risk factors to ensure adequate observability and consistency with market practices.

Daily review of levelling reports, to identify Level 3 assets and ensure Day-1 P&L provisioning with P&L team.

Monitor, maintain and generate reports on risk factor observability and asset levelling from internal systems/tools.

Oversee and ensure the development and implementation of short-term projects.

Organize and implement upgrades in risk system with the support teams and Methodology.

Monitor and manage risk/exposure and compliance with the company's policies.

Qualifications: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education

Bachelor's Degree or equivalent work experience: Business, Finance, Management, or equivalent field. Req

Master’s degree in Financial Mathematics, Financial Engineering, Data Science, or related field is beneficial.

Work Experience

5+ Years Market Risk Management/Product Control including proven experience in the calculation of Fair & Additional Valuation Adjustments (FVAs & AVAs) under Market Price Uncertainty (MPU) and Close-out-Cost (CoC) concepts.

Skills And Abilities

Good understanding of financial markets, market data, and valuation methodologies for financial products including Mortgage backed securities, Rates, fixed income, Equities, Credit, Convertibles, etc.

Strong skills in Excel and Python required; SQL, VBA skills a plus.

Numerically proficient with robust analytical skills.

Understanding of statistical methods for data analysis, especially in identifying outliers and clustering data.

Familiarity with external vendor tools such as Murex and Bloomberg beneficial.

Knowledge of Fair Valuation regulations, particularly IFRS-13

Ability to independently operate in a complex, matrixed environment; adept at delivering and maintaining productive working relationships across business, functions, geographies and lines of defense

Ability to handle conflict resolution with other groups to ensure appropriate accounting guidance is followed.

Ability to adjust to new developments/changing circumstances.

Ability to convey a sense of urgency and drive issues/projects to closure.

Ability to effectively interact with the market, executive management and vendors.

Ability to adapt and adjust to multiple demands and competing priorities.

Excellent written and oral communication skills.

Strong analytical, organizational and project management skills.

Spanish language proficiency is a plus.

EEO Statements: At Santander, we value and respect differences in our workforce. We actively encourage everyone to apply.

Santander is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status or any other characteristic protected by law.

Working Conditions: Frequent Minimal physical effort such as sitting, standing and walking. Occasional moving and lifting equipment and furniture is required to support onsite and offsite meeting setup and teardown. Physically capable of lifting up to fifty pounds, able to bend, kneel, climb ladders.

Employer Rights: This job description does not list all of the job duties of the job. You may be asked by your supervisors or managers to perform other duties. You may be evaluated in part based upon your performance of the tasks listed in this job description. The employer has the right to revise this job description at any time. This job description is not a contract for employment and either you or the employer may terminate at any time for any reason.

Risk Culture

We embrace a strong risk culture and all of our professionals at all levels are expected to take a proactive and responsible approach toward risk management.

EEO Statement

At Santander, we value and respect differences in our workforce. We actively encourage everyone to apply. Santander is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status or any other characteristic protected by law.

Working Conditions

Frequent minimal physical effort such as sitting, standing and walking is required for this role. Depending on location, occasional moving and lifting light equipment and/or furniture may be required.

Employer Rights

This job description does not list all of the job duties of the job. You may be asked by your supervisors or managers to perform other duties. You may be evaluated in part based upon your performance of the tasks listed in this job description. The employer has the right to revise this job description at any time. This job description is not a contract for employment and either you or the employer may terminate your employment at any time for any reason.

What To Do Next

Review the internal eligibility guidelines here. If this sounds like a role you are interested in, then please apply.

We are committed to providing an inclusive and accessible application process for all candidates. If you require any assistance or accommodation due to a disability or any other reason, please contact us at [e-mail] to discuss your needs.

Primary Location: New York, NY, Madison Ave Corp

Other Locations: New York-New York

Organization: Santander US Capital Markets LLC

Salary: $90,000 - $155,000/year

AN EQUAL OPPORTUNITY EMPLOYER M/F/Vet/Disabled/SO

Seniority level

• Seniority level

  Mid-Senior level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Finance and Sales

• Industries

  Banking

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