VP - Risk

TD Securities (USA) LLC; New York (NY); On-site; USD 115,000 - 175,000; Full time

Job summary

TD Securities (USA) LLC seeks a Level 10 Market Risk Specialist reporting to the Head of Market Risk, XVA & Capital Optimization Desk. You will provide effective market risk oversight of the xVA desk and develop independent views on current market conditions, risk positions, and regulatory considerations.

You will collaborate with Front Office, design stress tests, establish risk limits, and communicate risk issues across the organization while mentoring junior team members.

Qualifications

• Minimum of five years of market risk or trading experience.
• Deep capital markets knowledge with expertise in market risk and control functions covering derivatives, sales/trading/hedging strategies with a particular focus on XVA and CCR.
• Solid understanding of risk measurement concepts and methodologies including VaR, FRTB, SA-CVA, Stress Testing etc. coupled with an understanding of broader regulatory and financial concepts.
• Excellent interpersonal, team building and leadership skills.
• Undergraduate or graduate degree in Finance, Economics, Mathematics, or other relevant discipline.
• Ability to thrive within an environment with a high level of complexity and ambiguity.
• Keen interest in learning and a high level of curiosity regarding financial markets and products.
• Organizational awareness and demonstrated relationship building skills, with a superior ability to make things happen through the use of positive influence.
• Advanced critical thinking, analytical and problem solving skills.
• Skillful written and verbal communication skills.
• A high level of integrity, earning the respect and trust of peer groups.
• CFA or FRM candidates preferred.
• Self-motivated and willing to take ownership and initiative with a positive attitude.

Responsibilities

Skills

Market risk experience

XVA/CCR expertise

VaR/FRTB/SA-CVA

Leadership skills

Finance degree

Adaptability

Market curiosity

Relationship skills

Analytical skills

Communication skills

Integrity

CFA/FRM preferred

Self-motivated

Education

Finance/Quantitative degree

Job description

Work Location: New York, New York, United States of America Hours: 40 Line of Business: Risk Management Pay Detail: $115,000 - $175,000 USD TD is committed to providing fair and equitable compensation opportunities to all colleagues. Growth opportunities and skill development are defining features of the colleague experience at TD. Our compensation policies and practices have been designed to allow colleagues to progress through the salary range over time as they progress in their role. The base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, geographic location, and other specific business and organizational needs. As a candidate, you are encouraged to ask compensation related questions and have an open dialogue with your recruiter who can provide you more specific details for this role.

Job Description

Job Description: Reporting to the Head of Market Risk, XVA & Capital Optimization Desk Coverage, this Level 10, Market Risk Specialist's accountabilities include: As a senior member of the Market Risk team, provide effective market risk oversight of the xVA desk. Develop a strong independent view of current market conditions, the market risk of the desk's positions, as well as xVA methodology. Maintain close contact with TDS Front Office, including business heads and senior traders regarding trading strategies, market conditions, risk positions, liquidity, profit and loss, and new initiatives. Work closely with the team to promote collaboration and to provide insight and education with respect to the trading businesses. Develop market risk policy for the relevant trading business with the objective of providing effective market risk oversight. Design stress tests and scenarios that highlight key market risks. Maintain an understanding of the regulatory landscape related to risk reporting and xVA (e.g., CVA Capital and FRTB) and provide data analysis to facilitate discussion with Trading Desk. Analyze new product requests to ensure that market risks are well understood and that appropriate market risk limits and controls are established. Effectively communicate risk issues to all levels of the Risk Management organization, other control groups and the front office. Provide coaching and mentorship within Market Risk team.

Job Requirements

• Minimum of five years of market risk or trading experience.
• Deep capital markets knowledge with expertise in market risk and control functions covering derivatives, sales/trading/hedging strategies with a particular focus on XVA and CCR.
• Solid understanding of risk measurement concepts and methodologies including VaR, FRTB, SA-CVA, Stress Testing etc. coupled with an understanding of broader regulatory and financial concepts.
• Excellent interpersonal, team building and leadership skills.
• Undergraduate or graduate degree in Finance, Economics, Mathematics, or other relevant discipline.
• Ability to thrive within an environment with a high level of complexity and ambiguity.
• Keen interest in learning and a high level of curiosity regarding financial markets and products.
• Organizational awareness and demonstrated relationship building skills, with a superior ability to make things happen through the use of positive influence.
• Advanced critical thinking, analytical and problem solving skills.
• Skillful written and verbal communication skills.
• A high level of integrity, earning the respect and trust of peer groups.
• CFA or FRM candidates preferred.
• Self-motivated and willing to take ownership and initiative with a positive attitude.

The VP Risk TDS responsibility

The VP Risk TDS responsibility is to bring transparency to the market risks in TDS. This is achieved via taking a leadership role in the accurate, objective assessment of all key market risks in all trading portfolios in TDS through the identification, understanding and control of these risks. Depth & Scope: Serves as a point‑person and provides oversight in regards to market risk control for trading desks in the Region. Assists in the identification of all key market risks and determine appropriate risk metrics to assess these risks. Maintains thorough understanding of all key risk and risk‑related issues through continual review of risk reports/related data and dialogue with relevant parties. Establishes dialogue with TDS trading desks in regards to current positions, key risks, views and strategies. Assists in the establishment of formal market risk policies and procedures and ensure ongoing suitability to business evolution. Assists with local market risk regulatory issues. Develops a thorough understanding of business strategies and key factors contributing to profitability. Be involved in P&L attribution and periodic performance analysis with commentary linking the desk's performance to specific trading strategies, positions, market conditions and underlying risks. Facilitates the design of appropriate stress tests and scenarios that will highlight key market risks, in specific business lines and in the firm as a whole, under stress situations and provide ongoing commentary on stress results. Provides periodic analysis and commentary of key market risks for senior management review. Keeps abreast of new risk management techniques and industry literature. Demonstrates governance, control and risk management behaviors in alignment with TD policies and practices. Ensures that execution of the Market Risk Control function is line with documented procedures specific to this role or business.

Education & Experience

• 4 year degree in quantitative or financial field or equivalent experience.
• 7 – 10 years related analytical experience.
• Must be detail oriented and possess problem‑solving skills.
• Must be able to work independently with minimal supervision and establish priorities.
• Proficient in interpersonal communication (both oral and written), and have the ability to communicate effectively with all levels of staff and management.

Physical Requirements

Never: 0%;
Occasional: 1-33%;
Frequent: 34-66%;
Continuous: 67-100% Domestic Travel – Occasional International Travel – Never
Performing sedentary work – Continuous
Performing multiple tasks – Continuous
Operating standard office equipment - Continuous
Responding quickly to sounds – Occasional
Sitting – Continuous
Standing – Occasional
Walking – Occasional
Moving safely in confined spaces – Occasional
Lifting/Carrying (under 25 lbs.) – Occasional
Lifting/Carrying (over 25 lbs.) – Never
Squatting – Occasional
Bending – Occasional
Kneeling – Never
Crawling – Never
Climbing – Never
Reaching overhead – Never
Reaching forward – Occasional
Pushing – Never
Pulling – Never
Twisting – Never
Concentrating for long periods of time – Continuous
Applying common sense to deal with problems involving standardized situations – Continuous
Reading, writing and comprehending instructions – Continuous
Adding, subtracting, multiplying and dividing – Continuous

The above statements are intended to describe the general nature and level of work being performed by people assigned to this job. They are not intended to be an exhaustive list of all responsibilities, duties and skills required. The listed or specified responsibilities & duties are considered essential functions for ADA purposes.

Who We Are

TD Securities offers a wide range of capital markets products and services to corporate, government, and institutional clients who choose us for our innovation, execution, and experience. With more than 6,500 professionals operating out of 40 cities across the globe, we strive to make every interaction, product and experience remarkably human and refreshingly simple. Our services include underwriting and distributing new issues, providing trusted advice and industry‑leading insight, extending access to global markets, and delivering integrated transaction banking solutions. In 2023, we acquired Cowen Inc., offering our clients access to a premier U.S. equities business and highly‑diverse equity research franchise, while growing our strong, diversified investment bank. Together, we are reimagining what banking can be for our clients, colleagues and communities.

Our Total Rewards Package

Our Total Rewards package reflects the investments we make in our colleagues to help them and their families achieve their financial, physical and mental well‑being goals. Total Rewards at TD includes base salary and variable compensation/incentive awards (e.g., eligibility for cash and/or equity incentive awards, generally through participation in an incentive plan) and several other key plans such as health and well‑being benefits, savings and retirement programs, paid time off (including Vacation PTO, Flex PTO, and Holiday PTO), banking benefits and discounts, career development, and reward and recognition. Learn more

Additional Information

We’re delighted that you’re considering building a career with TD. Through regular development conversations, training programs, and a competitive benefits plan, we’re committed to providing the support our colleagues need to thrive both at work and at home.

Colleague Development

If you’re interested in a specific career path or are looking to build certain skills, we want to help you succeed. You’ll have regular career, development, and performance conversations with your manager, as well as access to an online learning platform and a variety of mentoring programs to help you unlock future opportunities. If you’re passionate about helping clients and building deep, lasting relationships, TD offers diverse career paths where you can grow your expertise and make a meaningful impact. We're committed to your success and foster a respectful workplace where diverse perspectives are valued, everyone has fair opportunities to grow, and you can unlock your full potential to achieve your career goals. Here at TD, we hire and develop the best. Training & Onboarding We will provide training and onboarding sessions to ensure that you’ve got everything you need to succeed in your new role.

Interview Process

We’ll reach out to candidates of interest to schedule an interview. We do our best to communicate outcomes to all applicants by email or phone call.

Accommodation

TD Bank 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, age, disability, status as a protected veteran or any other characteristic protected under applicable federal, state, or local law. If you are an applicant with a disability and need accommodations to complete the application process, please email TD Bank US Workplace Accommodations Program at [e-mail]. Include your full name, best way to reach you and the accommodation needed to assist you with the applicant process.

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Our Values

At TD we’re guided by our purpose to enrich the lives of our customers, communities and colleagues, and share a set of values that shape our culture and guide our behavior. In exchange for how our colleagues show up to help TD succeed, we are committed to delivering a colleague experience grounded in Impact, Growth and a Culture of Care. No matter where you work across TD, we empower you to make an impact at work and in your community, explore and grow your career and be part of our caring and inclusive culture.

Our Commitment to Diversity, Equity, and Inclusion

At TD, we’re committed to fostering an environment where all colleagues are encouraged to bring their authentic selves to work, experience equitable opportunities, and feel respected and supported. We’re dedicated to building an inclusive workforce that reflects the diversity of the customers and the communities in which we live and serve.

Helping to Make an Impact in Communities – TD Ready Commitment

TD has a long‑standing commitment to help drive progress towards a more inclusive and sustainable future. That’s why we launched the TD Ready Commitment in 2018, now a multi‑year North American initiative. Under the TD Ready Commitment, we are targeting a total of C$1 billion by 2030 in community giving across four key, interconnected drivers of change: Financial Security, Vibrant Planet, Connected Communities, and Better Health. It’s our goal to help support change, nurture progress, and contribute to making the world a better, more inclusive place for our customers, colleagues, and communities. Learn more: Canada | US | Europe & Asia Pacific