What are the responsibilities and job description for the Market Risk Manager position at RR Consulting MN?
The primary function of the Market Risk group is to protect the safety and soundness of the markets in the areas of clearance and settlement. This is accomplished by several teams including Credit Risk, Quantitative Risk Management, and Operational Risk Management.
As a Market Risk Manager within the group, you will have the opportunity to interact with all areas within Risk Management and understand the interrelationships. You will also interact with applicants/members, regulators, and departments within the complex, this means you will develop contacts with internal and external stakeholders across the industry. The ability to work with colleagues at all levels throughout the organization and with outside entities is essential.
Responsibilities:
- Supervise the review of daily margin requirements, liquidity needs, and settlement obligations.
- Understand the U.S. and global markets and current developments and issues affecting the industry.
- Understand the regulatory structure in the U.S. markets and infrastructure, and foster an environment of regulatory awareness and ensure regulatory compliance.
- Develop and implement new policies and procedures to enhance existing risk controls.
- Write test scripts, perform testing of various technology initiatives.
- Develop Talent: Support and monitor staff education and development in effective risk management.
Risk Management:
- Drive and take ownership of identifying and mitigating market and liquidity risks.
- Develop, communicate, and ensure adherence to department risk policies, procedures, and best practices.
- Reassess existing processes and create new ones that most effectively anticipate, manage, and reduce risk to the company and its participants.
- Strengthen the company’s controls over risk and align with corporate initiatives, including but not limited to New Initiatives Process (NIC), Management Self Identification of Audit Issues, Management Control and Awareness Rating (MCAR), Operational Risk Control Self Assessments (RCSA), etc.
- Develop, communicate, and ensure adherence to department risk policies, procedures, and best practices.
- Cultivate a positive work environment that allows staff to overcome mistakes, handle challenges, and develop alternatives.
- Ensures that initiatives are achieved in a manner consistent with the company processes and procedures.
Qualifications:
- Bachelor's degree required, Master's degree preferred.
- Minimum of 5 years of experience in market risk management with demonstrated exposure to various traded products.
- Minimum of 2 years of people management experience.
- Subject matter expert in specific instruments cleared and settled through the complex with a working knowledge of the broad set of financial products.
- Subject matter expert in knowledge of member base.
Additional Qualifications:
- Strong analytical, problem-solving, and decision-making skills.
- Persuasive communication skills, both oral and written.
- Ability to work well under pressure
Job Type: Full-time
Pay: From $1.00 per year
Schedule:
- Monday to Friday
Education:
- Bachelor's (Preferred)
Experience:
- Risk management: 6 years (Preferred)
- Supervisory: 3 years (Preferred)
Work Location: One location