Counterparty Risk Manager

Permanent contract|London|Risks

Counterparty Risk Manager

  • London, United Kingdom
  • Permanent contract
  • Risks


Description of Business Line:

Sitting within our Global Markets division that provides a full suite of research, investment and risk solutions, sales, trading and Prime Services functions to our clients.

This role will work closely with the Front Office  acting as the 1st LOD for all Credit Counterparty Risk and some Market Risk issues.

This will cover both Agency and Principal activity focusing on Rates & FX products.

Summary of 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

Profile required

Required Competencies / Experience:

  • Investment banking/ financial services industry knowledge and experience in Prime Brokerage, ideally in a 1st LOD role, but will consider people from 2nd LOD positions.
  • 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
  • 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
  • Self- motivated, proactive and entrepreneurial
  • Strong senior stakeholder Management Skills
  • Ability to develop relationships based on trust and professionalism

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 identity.

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, 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: 2400074H
Entity: Societe Generale London Branch
Starting date: 2024/06/12
Publication date: 2024/04/15