Senior Manager, Market Risk Management (Bangalore, IN)

Standard Chartered

Experience: 6+ yrs
Location: Bangalore, Karnataka, India
Job type: Full-time

Required skills

Python
VBA

About the role

Job Summary

• To uphold the integrity of the Group's risk/return decisions, and in particular for ensuring that market risks for Rates , Commodities, Credit Trading (Flow, Structured, ABS, Loans, Repo and Equity), Global Credit Markets “GCM” (Bond and Loan Underwriting), FX Trading, FX Options are properly assessed, that risk/return decisions in these areas are made transparently on the basis of this proper assessment and are controlled in accordance with the Group's Risk Appetite.
• To ensure the Risk Management Framework is effectively embedded in Market Risk.
• To exercise direct Risk Control Ownership for Market Risk.
• To ensure compliance with regulatory requirements.
• Daily monitoring of risk exposures
• Perform market risk related control, including investigation of all limit excesses and escalating limit breaches.
• Assess risk through established process and highlight concerns to senior Traded Risk Management for consideration
• Define and review the market risk control limits on a semi – annual and adhoc basis ensuring that these activities operate within risk appetite. Monitor adherence to these limits, developing new reports where necessary.
• Review risks of issues as they arise in day-to-day operations and determine the appropriate course of action, flagging out concerns to senior Traded Risk Management staff where necessary.
• Collaborate with other stakeholders to oversee the management of the business including the drafting of policies, standards and procedures and reviewing testing and development.
• Liaising with front office on new trades approval, booking requirements, and limits
• Participation in ad hoc projects and requests (eg as required by senior management, internal and external audit, other SC departments)

• Provide risk / market analysis on key markets for daily/weekly/monthly risk updates (highlight key risk issues where appropriate) and provide ad hoc analysis as required on an event basis.
• Build a technical understanding of various products and limits structure
• Assist senior managers to prepare market commentary
• Perform data quality review of VaR time series
• Liaise with traders and Market Risk teams regarding market data issues affecting P&L and risk.
• Develop familiarity with the market data related static data in Risk Infrastructure (SABRE) and Asset Control.
• Assist with new market data set up and associated historical rate generation where required.

Key Responsibilities

Strategy
• Encourage the development of an appropriate risk culture and discipline.
• Inform the development of strategy planning work for Credit Trading and GCM related to Market risk.
Business
• Adapt and communicate the strategic intent and collective agenda for Traded Risk Management.
• Maintain and develop the Traded Risk Management capabilities, skills and infrastructure to meet ongoing business needs and plans.
• Meet regulatory reporting requirements.

Processes
• Run, review and adapt all processes where a member of Traded Risk Management is the identified first line process owner.
• Ensure effective management of operational risks within the Function and compliance with applicable internal policies, and external laws and regulations.
• Continuously improve the operational efficiency and effectiveness of Market Risk
People & Talent
• Lead through example and build the appropriate culture and values within Traded Risk Management and across the wider organisation.
• Train and guide junior members of the Traded Risk Management.

Risk Management
• Ensure that the exposures in the risk reports are correctly computed before being reported to the management.
• Assess the Market risk profile of the Group and maintain alignment with risk appetite by rebalancing of risks or controls that may be required in response to internal and external factors.
• Analyse and present trade and limit request to the senior management, including structured transactions.
• Initiate a stress test and scenario analysis programme for Market risk, review the results and assess their implications.
• Ensure that effective management response plans are in place to respond to extreme but plausible Scenarios.
• Perform data maintenance and analysis tasks for all Financial Market products.
• Perform regular regulatory reporting tasks.
• Uphold the integrity of risk/return decisions, by challenging business and control function heads to demonstrate that risk origination and control decisions are properly informed and consistent with strategy and risk appetite.
• Direct appropriate response to material events or other risk issues that come to the TRM's attention.
• Provide balanced and informed assessment of Market risks from acquisitions and major change initiatives.
• Design, maintain and effectively communicate a framework for setting Market risk control parameters across the Group, including policies, control standards, risk exposure limits and other control levers in order to maintain the Group's risk profile in line with the overall risk appetite set by the Board.
• Challenge the effectiveness of risk control activities and address any significant gaps or weaknesses that may exist.
• Maintain a good understanding of the requirements of the Group's key external stakeholders in respect of Market risk management and ensure these are well understood internally and reflected in internal procedures.
• Obtain assurance regarding the effectiveness of Market risk controls and compliance with applicable laws & regulations.
• Review, in consultation with Finance, valuation and product control policies and procedures.

Governance
• Align the Group's Market risk management approach to the Risk Management Framework and oversee its effective application.
• Develop and maintain risk identification, measurement and modelling capabilities that are objective, consistent and compliant with applicable regulations.
• Ensure that material risk exposures and related issues are reported to the responsible risk governance committees and to the Board Risk Committee.
• Ensure effective mechanisms are in place to assign Market risk authorities to suitable named individuals in line with their skills and judgement.
• Maintain an open and cooperative relationship in dealings with regulators.

Regulatory & Business Conduct
• Display exemplary conduct and live by the Group’s Values and Code of Conduct.
• Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Key stakeholders
Internal:
• Global Head of various Asset Class
• Heads of Trading for various asset class
• FM COO Office
• Business and Product Heads
• Group Internal Audit
• Group Enterprise Risk
• Group Operational Risk
• Group Compliance
• Market Risk Reporting Team
• Middle Office Team
External:
• Key local regulators in the region
• The Group’s external auditors
• Local governance bodies
Other Responsibilities
• Embed Here for good and Group’s brand and values in Traded Risk Management
• Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.

Qualifications

• Financial Risk Management certification from GARP will be preferred.
• CFA certification will be an added advantage.

Skills and Experience

• 6+ Years of experience in Market Risk
• Masters degree in Finance or some quantitative subject (Science, Engineering)
• Substantial experience in Market Risk products, including demonstrated success in a similar role. In-depth knowledge and technical skills related to Financial Markets, Market Risk and Credit Risk.
• Sharp business acumen (including ability to assess risk and appropriate levels of return), strong leadership qualities, excellent interpersonal skills and multi-cultural awareness and sensitivity.
• Demonstrated track record in successful management and ability to manage risk in geographically dispersed and highly varied product base.
• Analytical approach.
• Technical background, with experience in developing codes in Python, VBA will be useful
• Very good writing and communication skills.
• Takes ownership of assigned tasks and can manage mini-projects to final delivery
• Disciplined operator with commitment to high standards of personal and professional excellence coupled with strong inter-personal and communication skills
• Dedicated individual with creative thinking skills and the ability to work independently
• Possess strong leadership qualities
• Multi-cultural awareness and sensitivity
• Willing to learn and be able to overcome a steep learning curve in a relatively short period.
• Results oriented, with demonstrable experience in driving complex change management initiatives.
• Relevant relationship management experience - with corporate customers at the most senior levels and regulators.

About Standard Chartered

We're an international bank, nimble enough to act, big enough for impact. For more than 170 years, we've worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you're looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents and we can't wait to see the talents you can bring us.

Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you'll see how we value difference and advocate inclusion.

Together we:

Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
Are better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term

What we offer

In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.

Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations.
Time-off including annual leave, parental/maternity (20 weeks), sabbatical (12 months maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum.
Flexible working options based around home and office locations, with flexible working patterns.
Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning.
Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential.

About Standard Chartered

International group providing corporate, retail, and investment banking services.

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