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Counterparty Credit

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Head of Counterparty Credit Risk Management

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Counterparty Credit

  1. 1. What to do if you are interested in learning more about the role below andmeet the requirements outlined:Please email your resume (Word or PDF, please) to Dan Ogden at Rockwood Search incomplete confidentiality at qualified candidate will receive a timely response. No resume will be sent to ourclient without prior candidate consent.Overview of RoleOur client, a major global brokerage active in interest rates, credit, commodities, foreignexchange and equity derivatives, seeks a Head of Counterparty Credit Risk to oversee allcredit risk-related activities.The Head of Counterparty Credit Risk will manage and develop the Americas Credit andMarket risk team to ensure an effective, timely and value-added service to the business,and will contribute to the group-wide credit and market risk methodologies to ensurethat it meets accepted industry policies, controls and practices.Though small, Credit Risk is a highly visible department in the organization, and eachday can present new, unforeseen challenges. Our client seeks an independent thinkerwho can create new policies and procedures to expedite credit onboarding and approvalwhile interacting frequently as a value-added partner to the broking desks.Principal Responsibilities of the Head of Counterparty Credit Risk include • Ensuring credit and market risk for all businesses in the Americas region is assessed on a timely basis, and that all breaches are escalated appropriately • Delivering accurate and timely management information to the business • Leading and supporting the Regional Head of Risk, continually seeking to improve the credit/market risk process/methodology • Approval authority and general oversight of new counterparty approval requests as well as ongoing credit limits based on financial statement analysis, internal ratings information, trading activity and VAR trading limits under the Group Risk Policy. • Monitoring business line daily market risk activity including VAR (Value at Risk) calculations, trade reporting, and position limits risk reports; working with business and desk heads to ensure understanding and compliance. • Monitoring outstanding trade amounts, both notional and on a value-at-risk basis against the approved limits • Building strong relationships with the front office, brokers and support functions, including those in remote offices; communicating risks, exceptions and - at times - challenging assumptions. • Ensuring that the credit/market risk of all new initiatives and projects is assessed and escalated on a timely basis • Successfully implementing and overseeing rollout of Credit/Market risk technologies throughout the region
  2. 2. • Reviewing and enhancing the credit risk control environment to improve reporting and efficiency and ensure that credit risk procedure manuals are maintained. • Setting policy and providing structure for continuing development of the Market Risk oversight function, as well as acting in an ongoing liaison and coordination capacity with Risk colleagues globally. • Fulfilling any additional/ad hoc studies on specific risk issues to meet the needs of the business • Conducting regular staff appraisals identifying skills gaps and training requirementsRequirements • 10+ years experience in the area of Counterparty Credit Risk, Market Risk, Risk Monitoring or Trading with prior experience in the brokerage industry and active, intelligence-enhancing relationships a must • Strong understanding and experience in counterparty credit analysis, financial analysis and establishing trading limits. • Full understanding of market risks including VAR calculations, mark to market adjustments as well as other risk calculations • Thorough understanding of products traded including UST, corporate bonds, futures, equities, international securities, swaps and other CDS and stock loan transactions • Strong leadership skills with the ability to develop direct reports as well as “manage up” into the business lines • Strong knowledge of systems and application of these systems for data integrity • Strong interpersonal skills, client service oriented and ability to build relationships with trading desks – position sits on the floor • Strong organizational skills with the ability to successfully manage multiple tasks, prioritize and meet deadlines • Ability to provide clear concise reports for senior management in a timely manner • Knowledge of core risk management concepts: operational, market and credit • Strong Microsoft application skills (Word, Excel, PowerPoint, Outlook) • Ability to quickly learn other internal risk management systems • Understanding of wholesale financial services and all trading products • Ability to adjust and provide ad hoc reporting on when needed basis • Bachelors Degree at a minimum with a Master’s and/or a CFA being preferred