Risk Officer (Derivatives, Credit, Liquidity)

UN Secretariat; New York (NY); On-site; USD 140,000 - 220,000; Full time

Job summary

United Nations Joint Staff Pension Fund (UNJSPF) in New York seeks a Risk Officer to manage derivatives risk, set limits, and analyze collateral needs within the OIM Risk & Compliance Team. You will monitor positions daily via stress tests, develop risk opinions, and lead the derivatives project implementation, including the credit/counterparty module system.

The role requires seven+ years in investment management with derivatives experience, plus an advanced degree in finance/economics/math.

Qualifications

• Minimum seven years of progressive experience in investment management.
• At least seven years of direct derivatives experience in risk management.
• Advanced degree in finance or related field; CFA/CQF desirable.
• English required; French knowledge is also required.

Responsibilities

• Oversee derivatives risk, set position limits and analyze collateral needs.
• Daily monitoring of positions through stress testing and risk reviews.
• Lead derivatives project implementation and credit/counterparty module system.
• Develop policies, risk opinions, and guidance on derivative usage.
• Prepare risk reporting dashboards and contribute to liquidity and credit risk metrics.

Skills

Derivatives risk management

Stress testing

Investment risk measurement

Data collection & analysis

Policy development

Team mentoring

Time management

Collaboration

Risk reporting

Education

Master's degree in Finance/Economics/Mathematics

CFA or CQF desirable

Tools

Bloomberg

RiskMetrics

Python

R

Job description

Organizational context: The United Nations Joint Staff Pension Fund (UNJSPF), managed by the Office of Investment Management (OIM), oversees a global investment portfolio exceeding $100 billion. OIM, based in New York, actively manages approximately 85% of its assets across diverse classes. This Risk Officer role is situated within OIM's Risk and Compliance Team, reporting to the Senior Risk Officer.

Job purpose: This role is crucial for managing and mitigating risks within the UNJSPF's extensive investment portfolio. The incumbent will be responsible for overseeing derivatives risk, establishing position limits, and analyzing collateral requirements. Key functions include daily monitoring of positions using stress tests, ensuring accurate risk reviews for various derivative types, and guiding the successful implementation of the derivatives project and credit/counterparty module system. The position also involves preparing risk opinions, developing policies, and advising on best practices for derivative usage as a risk management tool, contributing to the overall financial health and stability of the Fund.

Responsibilities: The Risk Officer will manage derivatives risk, setting position limits and analyzing collateral requirements. This includes daily monitoring of positions via stress testing and ensuring thorough risk reviews for all derivative types (swaps, repos, forwards, futures, TBAs). The role involves leading the derivatives project implementation and overseeing the credit/counterparty module system. Responsibilities extend to providing guidance on counterparty contracts, risk processes, and documentation within the derivatives working group. The incumbent will prepare risk opinions, develop derivative transaction policies, and establish monitoring dashboards. Additionally, the role requires producing and implementing credit risk monitoring mechanisms, performing credit risk assessments across the portfolio, and developing liquidity risk metrics and policies. Contribution to regular risk reporting and leading the automation of risk reporting are also key duties, alongside mentoring team members.

Education: An advanced university degree (Master's or equivalent) in Finance, Economics, Mathematics, or a related field is required. A Bachelor's degree with significant relevant experience in investment/risk management may be considered. Professional qualifications such as CFA or CQF are desirable.

Work experience: A minimum of seven years of progressive experience in investment management is required. This must include at least seven years of direct experience with derivatives in an investment or risk management capacity. Experience with programming languages like Python or R, or with platforms such as Bloomberg or RiskMetrics, is desirable, as is experience in implementing a derivatives program.

Skills: Professionalism, Teamwork, Planning & Organizing, Investment risk measurement, Derivatives knowledge, Data collection, Research and analysis, Judgment, Time management, Conflict management, Collaboration, Goal setting, Risk assessment, Policy development, Reporting, Mentoring.

Required languages: English, French

Desired languages: