Wholesale Credit Risk Associate
- Employer
- J.P.Morgan
- Location
- London, United Kingdom
- Salary
- Competitive
- Closing date
- Sep 25, 2021
View more
- Job Function
- Credit Analysis
- Industry Sector
- Finance - General
- Employment Type
- Full Time
- Education
- Bachelors
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This function is responsible for helping Credit Risk and the Investment Bank's trading and clearing businesses manage the market risks that our clients take when trading with JPMorgan. The candidate will help the team monitor existing client trading activity, review new client strategies, assess the risk of live trades, and monitor the markets. The candidate will collaborate with the global CRSM team and with other subject matter experts at the Firm to define appropriate stress levels and stress methodologies. The job requires regular interaction with the trading desks, the Clearing Business, clients, credit officers, and market risk. The candidate will provide regular updates and risk summaries to senior risk and business management. The Collateral Risk aspect will focus on CSA negotiation and regulatory enforcement related to collateral.
Responsibilities
Responsibilities
- Perform quantitative risk analyses on client portfolios or individual trades, analyze trading strategies, developing statistical models, and perform portfolio simulations.
- Monitor exposures, identify concentrated or concerning risk positions, and escalate appropriately.
- Define margining methodologies, conduct benchmarking analysis, and engage senior traders to understand trade and market dynamics.
- Develop and enhance stress methodologies. Collaborate with other Risk stripes across the firm including Market Risk and Model Risk.
- Monitor markets and geopolitical developments and assess impact on client portfolios.
- Work with Credit Officers, the CIB businesses and its clients, and regulators to highlight and summarize risks.
- Identify notable trends and material changes in client portfolios and across products and businesses.
- Partner with technology on initiatives to implement solutions for more effective risk identification and management.
- Provide oversight of the firm's collateral pool and escalate risk concerns to the heads of the business.
- Contribute to managing the firm's responses to regulatory and audit exams
- Provide the technical leadership for the firm's collateral liquidity assessment process, haircut calculation process.
- Manage responses to bespoke client requests on the firm's initial margin methodologies.
- Represent the firm on collateral requirement for negotiations on ISDA trading documents.
- Be able to synthesize information (including qualitative information through discussion with trading desks and quantitative analyses by team members) to escalate emerging risk issues to senior managers.
- Be an expert in the firm's Initial Margin Methodologies to be able to suggest appropriateness of margin or relevant compensating measures.
- Be an expert in Uncleared Margin Rules and CRSM Policy, Standards and Guidelines.
- Approve collateral restrictions where appropriate or escalate items to senior members of the team.
- Manage processes and prioritization of legal enforceability for collateral and netting for derivatives, securities financing and margin lending products through the legal counsel working group.
- Manage the flow of legal negotiations and identify risks that require further investigation.
- Solid understanding of derivatives (Cleared and OTC swaps), Futures, Options and financial markets.
- Bachelor's degree in a discipline such as Financial Engineering, Mathematics, Physics, Statistics, Engineering, Finance and/or Economics.
- Strong understanding of valuation models and the various parameters and conditions affecting these products.
- Ability to communicate results of analysis or underlying risk concepts clearly and succinctly (both written and verbal).
- Strong project management and communication skills.
- Adept with Excel and familiarity with Bloomberg or Reuters-Eikon.
- Prior experience working at a financial institution in a market or credit risk role or in a trading capacity or in a role with a focus on derivatives clearing and F&O exchange traded products and/or a focus in Rates markets.
- Knowledge of risk management including VaR, scenario analysis and stress testing.
- Knowledge of Dodd-Frank regulatory reform, SIMM, VaR or other initial margin methodologies.
- Experience in Credit, Trading or Trading middle office functions.
- Master's degree, CFA, CQF or FRM designations are preferred.
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