Hedge Fund Credit Officer

Permanent contract|New York|Risks

Hedge Fund Credit Officer

New York, United States Permanent contract Risks

Responsibilities

  • The role is for a Director within the Global Hedge Fund Risk Group who will support both the MARK/PSC (Prime Clearing), and MARK (OTC principal), in their daily activities with hedge funds.
  • The role requires the person to perform risk due diligences with hedge fund clients, whereby the individual would lead the call, and be comfortable with challenging some of the answers given by clients
  • The primary purpose of the role is to enhance our hedge fund analysis and monitoring in order to accommodate the SG’s business with hedge fund and PTG counterparties.
  • The incumbent would be part of the New York 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 the person to have a good knowledge of the funds space and funds regulations.
  • 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 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. Excellent communication and organizational skills will also be required.
  • 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, analyzing 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 – challenging the front office requests. 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.
  • The analyst will have responsibility for validation requests for 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.
  • The incumbent will also be responsible for developing, testing and delivering solutions relating to assigned projects and goals as applicable.

Profile required

  • Preferably experience in hedge fund counterparty credit risk or hedge fund investment risk.
  • Experience reading and understanding detailed covenants and clauses in legal documentation such as ISDAs, FAAs, GMRAs, term sheets, prospectuses etc.
  • Good knowledge of hedge fund industry.
  • Knowledge of OTC and listed derivative products and drivers of associated risks.
  • Good analytical/statistics skills; the person should understand means, standard deviations, correlation, normal distributions, sampling error, and basic performance statistics for the fund industry. 
  • 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.

Risk Management 

Employees in this position should understand the institution’s approach to risk management and their respective roles in supporting a strong risk culture, as outlined in the SGUS Operations Enterprise Risk Management Framework.


Our Culture 



At Société Générale, we live by our 4 core values of commitment, responsibility, team spirit, innovation. These four values are centered around our clients. We are engaged and demonstrate consideration for others. We act ethically and with courage. We focus our talent and energy on collective success. And we work to increase our impact on clients.



Business insight

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

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: 20000PJC
Entity: SG AMERICAS OPERATIONAL SECURITIES
Starting date: 2021/01/04
Publication date: 2020/11/19
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