Counterparty Risk Manager

Permanent contract|London|Corporate and Investment Banking

Counterparty Risk Manager

London, United Kingdom Permanent contract Corporate and Investment Banking

Responsibilities

Description of the Business Line or Department

The Global Markets functions is a trusted partner to external clients (Corporates, Financial institutions and Asset Managers) in market activities, offering a cross-expertise in Research, Investment and Risk Solutions, Execution and Prime Services.

Societe Generale International Limited (SGIL) is Societe Generale’s primary booking hub for listed execution, clearing and financing activities within Societe Generale Global Market and a fully owned subsidiary of Societe Generale.

SGIL primarily supports the Prime Services (MARK/EQD/PSC) businesses, centralizing the booking of the following activities:

  • Prime Services: Clearing and margin financing for listed and OTC derivatives (global hub), OTC non-cleared activity of Prime Brokerage clients, Listed FX facilitation, Agency execution for Equity derivatives and listed equity agency execution, Clearing collateral management (regional hub)
  • Commodities Agency: Agency execution, clearing and margin financing for listed commodities (global hub)

The entity also supports selected activities for the Equities & Derivatives (MARK/EQD) and Fixed Income & Currencies (MARK/FIC)

  • Equity & Derivatives: UK originated cross-asset financing
  • Fixed Income & Currencies: UK originated Fixed Income execution

As part of these activities, SGIL holds the general clearing memberships of European CCPs and holds client accounts for both CASS segregated and non-CASS segregated clients

Summary of the key purposes of the role

  • Assessing the risk for prospective clients and proposing appropriate margining methodologies
  • Monitoring the risk of live clients both on intraday activity and overnight exposures
  • Undertake risk analysis to identify portfolio risk and firm’s risk
  • Contributing to the development and risking of new product offerings
  • Working on ad-hoc risk projects

The product scope encompasses Listed F&O, OTC derivatives, fixed income securities, equities, security financing and cash management products, plus any additional products or services that SG Prime may offer.

Summary of responsibilities

Client Monitoring Responsibilities (Internal and External Clients including market participants) 

  • Daily assessment of portfolio risk across a substantial client base and across a wide range of asset classes  
  • Client Portfolio Analysis – calculate and present risk analysis for select prospect clients and existing clients.  Prospective and existing clients are typically off-shore hedge funds trading a variety of strategies such as global macro, long/short, relative value and arbitrage. Provide analyses of each client’s strategy, portfolio, trading patterns
  • Ensure relevance of Risk framework by engaging in on-going discussions with clients regarding their activity
  • Discuss with the prospective client a proposed risk assessment approach and method.  Provide support and expertise to the Business Development Executive, Credit and Compliance departments. Assist due diligence where necessary
  • Provide a market risk opinion of new and existing clients, based on pre-agreed acceptance criteria with regional and global heads of risk.  Propose required margins based on a sample portfolio, trading style, client typology in line with our risk appetite. Propose credit risk limit set up for new and existing clients to the credit risk department
Risk Management Responsibilities
  • Monitoring of the market environment and reporting on the impact of market events on customers’ accounts
  • Monitor the variation risk (replacement risk), deposit risk and financing amounts for counterparty exposures. Escalation to management on exposures as appropriate
  • Compare the above exposures to approved limits, analyze overruns and proposes suitable actions
  • Oversight of first level monitoring on official limits (Net-CVaR, Debtor and Delivery)
  • Monitor Intraday Risk and report breaches
  • Review metrics other than official limits set by RISQ (ex. IML, financing, etc.); centralizes requests for explanation regarding breaches of end of day limits. Ensures resolution or escalation
  • Developing enhanced internal and external reporting, focusing on adding value to the client and providing management with relevant risk information Aid and test the development of new reporting
  • Coordination with FO, BO, IT and Operational Risk teams to understand front to back processes and ensure that all positions are known, that risks are captured and measured
  • Liaise with OPER to monitor delayed payment of margin calls and escalates if appropriate. Acts as expert regarding margin computations (at the request of clients, RISQ, Prime Services management or other entities)

Product Scope Responsibilities

  • Evaluate and approve requests for counterparty pre-trade order routing limits for E-trading
  • Participate in the new activity procedure by formulizing a market risk opinion for new products and activities.
  • Take responsibility for testing new products.
  • Ensure proper procedures and controls are established and documented for the risk monitoring of new product
  • Propose suitable limits for in house business and facilitation upon request. Support request with qualitative and quantitative analysis.
  • Product testing – Imagine risk engine; testing is required for new instruments.  This is an ongoing process and requires significant interaction with the Imagine team and SG IT development team

Knowledge Management Responsibilities

  • Maintain up to date intelligence on market initiatives and client demands
  • Maintain up to date knowledge on risk systems and policies
  • Maintain up to date knowledge on product development and client offerings

Conduct Responsibilities

  • Responsibility to adhere to internal Policies that relate to you, your business or other businesses for which you have any level of responsibility.  It is your responsibility to ensure compliance with operational and conduct risk requirements (e.g data leakage, security policies and regulatory requirements). 
  • Adhere to individual and where applicable department conduct rules in accordance with the FCA and PRA Code of  Conduct rules
  • Responsibility for managing, controlling, preparing and escalating risk within the scope of your position and in line with existing policies.
  • Responsibility to ensure that you take reasonable steps to be fully aware of, understand and comply with all regulatory requirements from all regulatory  and statutory bodies, trading venues, etc  that are applicable to your role and business line.
  •  To assist in the self identification of all conduct related issues. Ensure escalation to appropriate stakeholder or function whether internal or external.
  • Adhere to business line mandates relevant to the role as directed by your manager

Other

  • This description is intended to outline the main responsibilities for the role and is not an exhaustive list, responsibilities may vary from time to time as directed by your manager.

Profile required

Competencies

  • Investment banking/ financial services industry knowledge and experience in Prime Brokerage
  • Strong product knowledge (e.g. Listed and OTC Derivatives) and risk (i.e. MtM pricing and risk of vanilla derivative products, Value at Risk and Stress Test calculation, advanced statistics - probability distributions, correlation and tail risk -
  • Excellent interpersonal skills and communication skills (verbal and written) with the ability to interact and communicate convincingly at all levels with the key decision makers in a variety of business lines, management and control functions across the bank.
  • Ability to be able to work independently on multiple conflicting priorities and under pressure until completion
  • Flexible and Adaptable
  • Excellent analytical skills and an aptitude for numbers with excellent attention to detail
  • Solution-focused, service-oriented and proactive
  • Team player, proactively shares information and collaborates with others
  • Exemplary professional conduct
  • Self- motivated, proactive and entrepreneurial
  • Capability to prioritize and organize
  • Strong senior stakeholder Management Skills
  • Ability to develop relationships based on trust and professionalism
  • Language requirements if applicable are as defined to support the role purpose and coverage areas. (English is the business language for SG).
  • SG Leadership Model competence as defined for individual contributors

Why join us

People join for the impact they can have on us. They stay for the impact we have on them. A flatter structure offers visibility and exposure beyond that of our competitors, so you know our names, and we know yours. It's personable, human, and inspires success through passion. By encouraging open mindedness and a willingness to share ideas, we have adapted to market changes and thrived through innovation. Bringing words like “hard work” and “dedication” together with “community” and “respect” has enabled us to work collaboratively and build our future together. We call this Team Spirit and it's what makes us different. It's what makes you different.

Business insight

If you feel you have the required experience and qualifications, then please apply to the SG Resourcing Team, and we will manage your application. At Société Générale, we believe our people are our strength and are core to the success of our business. As such, we search for, recruit and appoint the best available person on the basis of aptitude and ability, regardless of sex, marital or civil partnership status, race, colour, nationality, ethnic or national origins, pregnancy, disability, age, sexual orientation, religion, belief or gender reassignment.

We are an equal opportunities employer and we are proud to make diversity a strength for our company. Societe Generale is committed to recognizing and promoting all talents, regardless of their beliefs, age, disability, parental status, ethnic origin, nationality, sexual or gender identity, sexual orientation, membership of a political, religious, trade union or minority organisation, or any other characteristic that could be subject to discrimination.

Reference: 21000GLB
Entity: SG CIB
Starting date: 2021/07/19
Publication date: 2021/06/11
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