VP - Counterparty Credit Risk Officer

Permanent contract|Hong Kong|Risks

VP - Counterparty Credit Risk Officer

  • Hong Kong, Hong Kong
  • Permanent contract
  • Risks

Responsibilities

The scope covers the combined Asia operations, and all operations originated in ASIA. that are conducted within the GBIS business line and whose risks are managed and monitored in ASIA.

Main accountabilities:

His/her main missions will be:

  • Identify and frame CCR risk arising from activities with funds and CCPs.
  • Main expert within RISQ/RMA regarding Prime business
  • Conduct portfolio analysis on funds (HF, MF, FoF and PTG).
  • Contribute to the definition, set up and enhancement of risk metrics, methodologies and procedures in regards of activities with funds.
  • Assessing the risks related to SG’s clearing activities (for its own account as well as for its clients) with various CCPs, through quantitative and qualitative analysis.
  • Assessing the risks related to SG’s bilateral activities with CCPs and related FMIs.
  • Contribute to the definition, set up and enhancement of risk metrics, methodologies and procedures used for CCP risks assessment and monitoring at SG level.

Mission details

Agency/client clearing expert

  • Conduct the analysis for RISQ/RMA regarding the assessment of the risks taken by SG through its prime brokerage activity (agency/client clearing)  
  • Defines, implement and maintains the specific counterparty risk framework required for the agency business
  • Follows the evolution of methodological (margination) and system aspects (notably is the central point of contact within RISQ/RMA regarding the dedicated systems Imagine and Iris).
  • Contribute to the various focus (CoRisq, MRC, weekly markets, specific external requests, one off analysis conducted by RISQ/RMA) when the agency business is involved
  • Participates to the NPCs that involve client clearing
  • Participates to the study of atypical client onboardings within the agency space.

Global Markets / Equities and Derivatives / Prime Services & Clearing (MARK/EQD/PSC): global coordinator within RISQ/RMA for Prime business

  • Be the point of contact of MARK/EQD/PSC management regarding market risk topics; follow business developments, and participate to the NPCs that are related to PRM;
  • Contribute to the various focus (CoRisq, MRC, weekly markets, specific external requests, one off analysis conducted by RISQ/RMA) when PRM is involved;

Individual CCPs risk assessment regarding clearing risk

  • Assess the first level analysis produced by MARK/TRD regarding the risks related to individual CCPs;
  • When needed, conduct further analysis through CCP rule books, specific due diligence (assessing for instance the rules and procedures put in place by CCPs, associated documentation et financial statements), and risk metrics analysis;
  • Potential participation to CCPs consultations, working groups and risk committees;
  • Deal flow : assess the risk related to bilateral transactions with CCPs and FMIs, liaising with Front Office and relevant departments when needed (notably RISQ/RMA/ALM and DFIN regarding liquidity aspects) and validate within delegations or make recommendations to the management;
  • Participate to the overall governance and projects around CCPs risk management (risk monitoring projects, definition and maintenance of rating models, set up of dedicated stress).
  • Participate to the analysis conducted through New Product Committees on activities that involve relations with CCPs (either clearing or bilateral).
  • Participate to the strategic surveillance of the market and regulatory context of CCPs, in order to propose relevant adaptations of the risk framework.
  • Ensure the proper integration of PRM business into MARK, from a system, limits and reporting standpoints (liaising with the departments in charge: ITEC, FO and MACC), and the adequacy of the market risk framework in place (limits & dedicated controls)

Profile required

  • Solid knowledge in finance and risks, covering OTC and listed products
  • Good knowledge of prime brokerage business (execution, clearing, collateral management)
  • Solid knowledge CCPs
  • Good quantitative skills
  • Good notions about the regulations
  • Post graduate degree from good university in finance, economics, or mathematics
  • Extensive knowledge in financial markets. Being able to act as an end-to-end individual contributor in a Front Office or Risk position with minimal supervision

Behavioral Skills:

  • Team Spirit - Synergies: I make developing synergies a priority
  • Team Spirit - Collective mindset: I favour the company's best interest over my team's results
  • Innovation - Thinking out of the box/Creativity: I encourage and demonstrate positive out of the box thinking
  • Responsibility - Empowerment and Accountability: I give my team the autonomy to make decisions at the appropriate level
  • Responsibility - Risk awareness: I am constantly on the lookout for risks
  • Commitment - Inspiration: I communicate a clear vision and strategy 

Business insight

Company Description:

Societe Generale is one of the leading European financial services groups. Based on a diversified and integrated banking model, the Group combines financial strength and proven expertise in innovation with a strategy of sustainable growth. Committed to the positive transformations of the world’s societies and economies, Societe Generale seeks to build together with its clients, a better and sustainable future through responsible and innovative financial solutions. Active in the real economy for over 160 years, with a solid position in Europe and connected to the rest of the world, Societe Generale has over 126,000 employees in 65 countries and supports 25 million individual clients, businesses and institutional investors worldwide (figures as of January 2024). We have a presence in 11 locations across Asia Pacific. With our regional headquarters in Hong Kong – a core hub of the worldwide Societe Generale Group – we employ around 2,200 employees in the region. In addition, Societe Generale's Global Solution Centre (SGGSC) in Bangalore and Chennai supports the Group in Asia Pacific and globally with customized business solutions.

Department Description:

Within SG market risk department (RISQ/RMA), the HPC team in charge of covering Hedge funds (including also Funds of Hedge Funds, as well as Principal Trading Groups), Prime activity (RMAK/PRM) and CCPs (clearing and bilateral risks).Whilst RISQ/RMA/HPC is a service provider, its client is SG and by extension SG’s shareholders. As such, like all departments within RISQ division, it adheres to the philosophy of complete independence from commercial activities. In particular, it is a control function, not a support function to the business.

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: 24000IEY
Entity: Societe Generale Hong Kong Branch
Starting date: 2024/09/02
Publication date: 2024/07/10
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