Credit & Counterparty Risk Manager

Job code: 18000ZQC
Date of publication: 16-04-2019
Starting date
Immediate
Job function
Financial Engineering
Business unit
SG CIB
Location
New York - United States
Job type
Permanent contract

Environment

MMG – Metrics Monitoring Group - OVERVIEW
Within Société Générale Corporate and Investment Banking, MMG's major missions are to meet the regulatory challenges of tomorrow, to support the development of the business lines and to enable the Group to meet its ambitions in terms of client satisfaction and efficiency, while measuring and monitoring the risks. Ultimately, our task is to ensure that the Front Office and Finance departments are able to carry out their respective roles within a carefully-controlled risk and cost management structure. MMG works closely with other teams within Risk Market Activities 

When you join MMG, you are joining a team of very diverse people who are driven by excellence and whose recognized expertise is dedicated to always better serve our clients. You will be located on the trading floor having daily interactions with Front Officers and Risk Officers with exposure to senior management in New York and Paris.
MMG MISSION STATEMENTS
Within MMG, you will perform a wide variety of missions including:
  • Production, analysis, certification, consolidation and reporting of all financial data, and production of risk and regulatory indicators of market and brokerage activities for MMG partners and stakeholders including but not limited to P&L, P&L attribution, VaR, Stressed VaR, Market and Credit Stress Tests, Market Risk sensitivities, Counterparty Risk monitoring, etc.  
  • Support of Business Lines, Risk and Finance departments on regular reports and ad hoc requests
  • Control and monitoring of risk limits (market and counterparty) and follow up on breaches
  • Definition and implementation of a control framework aiming to secure the production and certification processes
  • Maintenance and quality controls of market data related to all businesses
  • Contribution to the definition of Information System strategies and lead initiatives related to organization and process developments
MMG Cross Risk Prime(XRP) is a team of 11 in charge of supporting the Prime Services business line for P&L and credit counterparty risk as well as owning Credit Counterparty Risk (CCR) metrics certification and monitoring for the region.
Our main mission is daily P&L production and certification, performance analysis and process improvements, certification of counterparty credit metrics on market operations, and monitoring the counterparty risk limits.
Prime Services proposes a unique continuum of expertise that offers unparalleled global access to a complete cross-asset service in cash and listed derivative instruments across Equities, Fixed Income, and Foreign Exchange. Prime Services also offers a client-focused model, a simple managed account structure.

Mission

The main accountabilities for the Credit Counterparty Risk Manager include but are not limited to certification of credit counterparty metrics, monitoring of credit limits, enhancement and data quality project management, contribution to Regulatory topics and projects, participation in local and global projects impacting MMG/XRP.

The CCR manager will be in charge of a team of 4 and will need to:

  • Manage all HR aspects for the team
  • Work with MMG management to participate in the implementation of MMG 2020 Strategy
  • Manage and deliver timely Regulatory requirements, Audit/Inspection recommendations related to CCR
  • Monitor daily reporting deliveries, ensure the quality of the daily production
  • Enpower the team and work on a development plan
  • Enforce the team objectives and help them achieve them

 Credit metrics certification

  • Daily certification of counterparty credit metrics (CVaR) on market operations
  • With the team, in charge to implement new CCR metrics in AMER (counterparty stress tests, concentration risk, etc.)
  • Manage data quality issues, follow up on resolution with Business Lines and/or Information Technology and optimize/automate processes
  • Stand as a point of contact on all Credit Risk metrics for the Americas. Answer ad hoc requests on computation of counterparty risk metrics (e.g. PFE level explanations, explanation of Pre Deal Check simulation results, etc.)
  • Contribute to different regulatory projects (SR 11-7, SR 11-10, SR 13-18…) impacting the Counterparty Credit Risk to represent the department interests
  • Lead initiatives in the conception/realization/improvement of the Excel based tools using VBA and Python programming language
  • Report daily KPI (key performance indicators) to management
Credit limits monitoring
  • To ensure on a daily basis the credit overshoot monitoring
  • To censure relevant and methodical analysis of the overshoot by following the procedures and keep a full audit trail of any proof of declaration
  • To provide analysis of the overshoots on a timely manner
  • To ensure the daily scrubbing process and the production of the dedicated reports
  • To initiate and contribute change management with the Front Office and other departments to
 Communication
  • Good communication skills as the position will require interactions with Business Line management in AMER as well as with other RISQ, DFIN and MARK teams locally and in other regions, with project management teams and with other departments.
  • Coordination with global managers

Profile

Competencies:
  • Excellent verbal communications skills with the flexibility to communicate and build relationships with internal clients (Front Office, Risk, Back Office) across different cultures
  • Curiosity, self motivation and passion   
  • Integrity and responsibility
  • High sense of teamwork: inspire and work well with others
  • Problem solving skills to get things done
  • Leadership
  • Ability to work in a challenging fast paced environment 
Technical Skills:
  • Team members need understanding in the following areas:
    • Good knowledge of financial products (Equities, Fixed Income, Commodities…)
    • Counterparty credit risk metrics
    • Market risk metrics
  • Strong organizational skills;
  • Strong presentation skills
  • Knowledge of Microsoft Office tools
  • Strong programming and analytical skills Proficient Python, Excel/VBA, other scripting languages

Work Experience:

  • 7+ years of experience in traded products with prior experience in counterparty credit risk metrics
Education:
  • Bachelor/Master in Finance, Statistics, Financial mathematics or Economics

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