Responsibilities:
Day-to-Day Responsibilities:
- Portfolio Analysis, Front Office and Client Interaction
- Covers primarily Central Clearing Counterparties (CCPs), Financial Institutions, Broker Dealers, and Pension Funds.
- Supports Sales on client pitching by providing risk information with the necessary explanation on the risk measures applied to the client’s portfolio.
- Assists in due diligence meetings for prospective and existing clients. Assists the Second Line Risk/Credit if requested.
- Performs and provides analyses on:
- client strategies and trading patterns
- risks in client portfolios: market risk, liquidity and concentration risks, wrong way risk, etc.
- margin coverage relevance
- risk measurement adequacy
- balance sheet and capital usages if required.
- Identifies emerging risks (market events, client-related early warnings) and escalates to the First Line/Business senior management and the Second Line Risk/Credit.
- Participates in implementing client-specific monitoring, as required.
- Ensures clients exposures are in line with overarching frameworks.
- Ensures Front Office is trained on the Counterparty Credit Risk “CCR” Framework.
Risk Limits:
- Proposes new limits and/or renewals of expiring limits.
- Participates in Account Closure and Renewal Processes (Trading Limits and Market Access connections).
Monitoring / Reporting & Overshoot Management:
- Ensures first level monitoring of daily limits.
- Comments limit overshoots and prepares remediation plans in concert with the Front Office.
- Escalates potential client issues to the First Line/Business senior management and the Second Line Risk/Credit.
- Performs Daily, Weekly, Monthly, Quarterly and Regulatory reporting with relevant drilldowns, as needed.
- Participates in providing material to the relevant committees.
- Monitors margin disputes and aged/failed payments.
- Monitors Uncleared Margin Rule “UMR” exposures for bilateral clients if applicable.
CCP Risk Management:
- Daily Risk Management:
- Monitoring CCP metrics, such as IMR and Default Fund Contribution.
- Completing CCP annual renewals.
- Develop a granular understanding of covered CCP’s margin and default fund methodologies to monitor for changes and assess possible impact to SG and our clients.
- Succinctly explain the methodologies to internal stakeholders.
- Lobby CCPs to improve their methodologies where necessary.
- Liaise with LOD2 on limit changes, renewals, and changes in methodology.
- Margin Model Risk Management:
- Help fulfill all the requirements of model risk management ownership including monitoring for model changes, including liaising with SG global CCP coverage on EMEA and APAC model changes.
- Ensuring our model inventory is comprehensive and up to date.
- Participate in ongoing monitoring of CCP margin model performance.
- Liaise with LOD2 on model changes, model review and ongoing monitoring.
Intraday Monitoring and End of Day Risk Reporting:
- Perform first-level risk intraday monitoring, reporting and review the risks associated with prime services clients.
- Perform analysis and reporting of client daily usage against complementary limits on a T+1 basis and provide insight on client trading patterns with focus on liquidity, debits, etc.
- Conduct statistical and quantitative analysis to evaluate financial risks and perform ad-hoc quantitative analysis and stress testing of Clients' portfolios using computing software to create management and risk reports.
- Ensure RISQ and complementary limit breach resolution and/or escalation, including to Business Line management and RISQ.
- Communicate, follow up on and escalate significant risks, margin issues, limit overruns, and other concerning risk issues to RISQ, Front Office and Senior Management.
- Perform weekly, monthly and quarterly analysis and reporting as required.
Client Margining:
- Defines and updates margining rules with client, under the constraints of the risk limits.
- Ensures margin levels remain adequate for the risks of the client’s portfolio.
- Ensures that margination is set up appropriately in various back office and margination systems.
- Computes or validates ad-hoc margin amounts.
- Liaises with Operations to monitor delayed payment of margin calls and escalates if appropriate.
- Responds to margining inquiries from Operations, the Second Line Risk/Credit and clients.
- Assists Sales in computing risks for a client’s portfolio.
Client Onboarding:
- Provides risk opinion on new clients.
- May be requested to provide portfolio simulations for new clients, including Risk-Weighted Assets “RWA” impacts.
- Participates in the Legal Documentation negotiation for credit related terms.
Special projects:
- Participates in projects to enhance the productivity of the team.
- Participates in projects to enhance the risk framework.
- Participates in the further development & enhancement of risk frameworks for upcoming initiatives such as Mandatory Treasury Clearing and Equity Prime Brokerage offerings.
- Automates various reporting as requested by management and senior members of the team.
- Suggests enhancements to the processes.
Profile required:
Division Description:
Within Societe Generale Corporate & Investment Banking, the Global Markets Division brings together the Research, Investment and Risk Management Solutions, Execution and Clearing, Prime Services, Equities, Fixed Income, Futures and Currencies & Commodities structuring capabilities with the objective of providing investors with one integrated multi-asset market solutions team. The business uses an advisory and innovation mindset, focused on client needs, with a global leader in financial markets engineering. Global Markets is a leading player in derivatives, with unrivaled over the counter and listed derivatives expertise, as well as cross-asset and economic research. Our prime services' offering is a unique combination of execution, clearing, custody and financing services.
Competencies, Skills and Qualifications:
Competencies:
Required:
- Analytical capability and Problem solving: Able to break down complex problems into simple manageable units, develops solutions for each unit, and integrates them back into the whole.
- Results oriented: participates in setting goals and meets deadlines to bring value to the team and to the First Line/Business while maintaining high quality work product and safeguarding the bank.
- Interpersonal effectiveness: is self-aware of own behavior and work style, as well as tolerant of different needs and viewpoints.
- Communication Skills: excellent verbal, writing and presentation skills with the ability to interact with stakeholders and ability to relay complex technical concepts to both technical and non-technical audiences.
- Client focused with strong advisory skills.
- Organized, detail oriented and eager to learn.
Technical Skills & Knowledge:
Required:
- Solid knowledge of financial markets, financial products and margining/risk models.
- Good knowledge of derivatives.
- Good knowledge of financial risk, margining and portfolio analysis techniques: VaR models, Stress Testing, Greeks.
- Intermediate to advanced knowledge of Excel.
Desired:
- Familiar with databases and business intelligence (e.g., Tableau, Power BI, etc.)
- Programming in Python and SQL.
Qualifications (Experience & Education):
Required:
- Bachelor’s degree in Finance, Economics, Engineering or Mathematics.
- 5+ years in risk management, preferably in CCP risks and/or model risk management.
- Must be a self-starter and be able to operate independently in a fast-paced environment.
- Proven change management abilities.
- Strong knowledge of Equity PB and/or Fixed Income PB.
Desired:
- Master’s degree.
Why join us:
Business insight:
OUR CULTURE:
At Societe Generale, we live by our 4 core values of commitment, responsibility, team spirit and innovation.
D&I:
Our Diversity & Inclusion Mission: Recruit, develop, advance, and retain a diverse workforce that is united in our efforts to enhance our competitive position and deliver innovative solutions to our clients.
HYBRID WORK ENVIRONMENT:
For most positions, Societe Generale offers a hybrid work arrangement that offers employees the flexibility to work remotely, as well as on-site.
COMPENSATION & SALARY RANGE:
Base salary range does not include overtime pay, bonus and/or other benefits, where applicable.
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