Description of the Business Line or Department
The role of RISQ RMA HPC is to provide for counterparty risk management for hedge funds, proprietary trading groups and CCPs. The team provides independent risk control services for SG when exposed to these counterparty client types. Performing risk assessment (due diligence, limit and rating validation) monitoring (exposure and counterparty creditworthiness) and risk mitigation processes for all core business lines within the SG Group that transact with, invest in, or take HF shares as collateral.
Summary of the key purposes of the role
The role is for a Vice President within the Global Hedge Fund Risk Group who will support both the MARK/PRM (Prime Clearing), Other MARK (OTC principal), SGSS and IHF teams in their activities with hedge funds
The primary purpose of the role is to provide counterparty risk management for hedge funds and proprietary trading groups to accommodate and facilitate the Bank’s business with hedge fund and PTG counterparties.
The incumbent would be part of the London office of a global hedge fund team responsible for covering global hedge fund risk: specifically, hedge funds primarily engaged in trading OTC and listed derivatives with SG, managing the risk of financing facilities for funds of funds and structured hedge fund-linked derivatives.
The role requires a person with good knowledge and experience of the risks associated with OTC derivatives, secured lending, fund-linked structured products, prime services and the custody business with hedge funds. In addition to the ability to form, defend, and enforce a risk judgement based upon an independent opinion in a context that may require a rapid conclusion under pressure.
The role will also require the incumbent to participate in, and contribute to, transformational projects relating to the ongoing evolution of RISQ RMA HPC in line with its core development goals.
Summary of responsibilities
Counterparty Risk Management – the incumbent will be responsible for a portfolio of hedge fund clients and focussed on carrying out core HPC responsibilities including:
Assessment - Performing hedge fund due diligence on a portfolio of funds assigned, including the review of relevant documentation, analysing investment and operational risks, performing background checks, arranging and attending on-site due diligence meetings and drafting well-written, cogent, due diligence documents. Provide analysis and assist in opining on transactions and associated risks.
Monitoring – Maintain a deep understanding of the counterparty risks in the incumbent’s portfolio. Active continuous monitoring (of a broad range of metrics and indicators) and management of counterparty exposure exposures in accordance with developing market conditions, counterparty risk profile and our defined risk appetite. Following up on limit, threshold and policy breaches. Maintaining
up to date risk information and the ongoing monitoring of hedge fund performance and credit worthiness.
Mitigation - Enforcing procedures designed to mitigate against losses in the event that a hedge fund defaults, including assisting in negotiating credit terms of legal documents (e.g. ISDA ATEs), negotiating and opining on Independent Amounts or margin requirements.
Approval – approving specific credit files and limits (per prevailing policy requirements) and the associated credit ratings. Approving specific one-off transactions as required and facilitating the approval of files that are to be escalated further.
HPC Transformation – playing a role in key HPC projects:
Interaction with global teams to co-ordinate the collection and sharing of information, developing ideas and best practises and operational implementation of project targets.
Provision of clear ongoing communication to global teams and senior management to facilitate their understanding of key issues, obtain relevant approvals and inform them of developments and achievements.
Level of Autonomy and Authority
The VP will have responsibility for recommending credit limits and internal ratings and the approval of certain types of trades within delegated credit approval authority (where applicable).
In addition, the independent opinions of the analyst will be accounted for in a wide array of difficult, complex, hedge fund risk issues.
All our positions are open to people with disabilities
Preferably experience in hedge fund credit or investment risk.
Good knowledge of hedge fund industry in Europe.
Knowledge of OTC and listed derivative products and drivers of associated risks.
Some knowledge of hedge fund structured products, including CPPI, leveraged facilities, and prepaid forward transactions would be advantageous
Good analytical/statistics skills; the person should understand means, standard deviations, correlation, normal distributions, sampling error, and basic performance statistics for the fund industry.
Experience reading and understanding detailed covenants and clauses in legal documentation such as ISDAs, GTBs, GMRAs, term sheets, prospectuses etc.
Intermediate to advanced Excel, database, VBA, and Word skills highly desirable.
Self-starter able to meet deadlines and work independently as well as contribute to HPC team goals when required.
Good communication skills
Articulate orally and in written form.
Be comfortable meeting with very experienced hedge fund managers in person, be presentable, and be respectful.
Other European language skills an advantage
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 Societe Generale, 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