Corporate and Investment Bank -Counterparty Risk Stress & Margining - Vice President
Counterparty Risk Stress & Margining (CRSM) is a global private side group with an Asia Pacific aligned presence in Hong Kong, Tokyo and Mumbai. CRSM has a wide range of responsibilities across derivatives, securities and other traded products, including credit exposure infrastructure, methodology and margining, exposure analysis for complex transactions, stress metrics and testing, wrong way risk, advanced regulatory capital models and counterparty risk data governance.
The team partners widely and in particular with Credit Officers, Markets sales and trading, Credit Portfolio Group, Quantitative Research, Model Review & Governance, Market Risk Management and Finance, as well as various technology teams. Role
Counterparty Risk Stress & Margining is seeking a Vice President based in Hong Kong to lead credit exposure and stress calculations & analysis for the Asia Pacific region, with a primary focus on both cleared and non-cleared derivatives and securities financing transactions. The candidate will work collaboratively to cover all Counterparty Credit risks within the region with a primary focus on the activities of the Equity Prime Brokerage and Client Clearing & Intermediation businesses, providing for further growth/coverage as appropriate. Specifically, the candidate will be responsible for the below:
- Acting as subject matter expert on counterparty credit exposure and stress with a primary focus on derivatives (across all asset classes) and securities-based transactions, providing advice to Credit Officers and helping guide methodology and policy updates
- Having oversight over infrastructure & calculated credit exposures/risks, again primarily for derivatives and securities-based transactions, including the calculation and review of exposure overrides (e.g. specific wrong way trades, margin loans)
- Partnering with sales and trading on development and rollout of counterparty credit exposure framework for new products or structures where risk expertise is required
- Providing on-going support to Asia Pacific Credit Officers on counterparty credit exposure for new deals with complex structures or relatedness, including the explain and challenge of calculations by 1st line of defense
- Manage and contribute to firm-wide projects around key counterparty credit exposure metrics & technical enhancements.
- Working with QR and Technology amongst other stakeholder teams to continuously review and enhance exposure methodologies and tools, providing guidance and training on material methodology releases or model limitations to Credit Officers, liaising with Credit Officers on impact analyses from model changes.
- Supporting projects and stress testing for both internal usage and regulatory requests, such as CCAR, broadly & providing oversight within this for traded products.
- 7 plus years of relevant Risk / Counterparty Credit Exposure experience, direct risk experience of equity prime brokerage and/or client clearing & intermediation business activities strongly preferred
- Strong all-round knowledge of traded products, spanning derivatives (across asset classes) and securities (repos, cash securities)
- Understanding of key risk drivers within these asset classes; prior experience of counterparty credit risk focusing on exposure and stress metrics is desirable
- Must be highly numerate and have prior experience of working in a quantitative or analytical role with a robust skillset to be able to substantiate counterparty exposures
- Relevant experience in oversight and delivery of multi-faceted projects. Strong time management skills and comfort with dynamically shifting priorities, timelines, and demands
- Excellent written and verbal communication skills. Must be articulate, and be able to explain technical concepts to non-specialists. Able to adjust communication style for a variety of situations and be able to hold their ground as required
- Strong sense of accountability and ownership of responsibilities, must be diligent and self-motivated. Highly confident and commercial, and have the conviction to challenge and make a risk judgment, stick to it and be able to articulate why this is the case
- Strong organizational, control, project management, communication and negotiation skills