VP Market Risk Middle Office

Job Description

JOB PURPOSE: This role is primarily responsible for developing and maintaining the Market Risk Middle Office function under the aegis of Head of Market Risk Management in compliance with Bank Policies and regulatory guidelines.KEY ACCOUNTABILITIES: Generic Accountability

• Act in consonance with the Groups vision and mission to facilitate the organizational objectives of growing stronger
• Ensure the achievement of the banks business plans by optimizing risk adjusted performance of Global Markets
• Provide an assurance to the GCRO through the Head of Market and Liquidity Risk and Head of Market Risk Management that all processes pertaining to Collateral Management, Market Risk Capital & Clients Valuation Services for Global Markets have been identified & monitored with proper controls in place to mitigate Operational Risks.

Job Specific Accountabilities

• Manage the Market risk Middle Office processes that fulfil the mission and strategic goals of mitigating the market risks of the Bank.
• Monitor Collateral Management process performed by the team, which includes validation of margin calls, seeking margin from counterparties and responding to their margin calls in a timely manner.
• Ensure that the collateral management team send the valuation statements to all customers as per agreements in the legal documentation.
• Providing feedback on market risk related points covered through ISDA/CSA/GMRA and ISDA-SIMM agreements that comes for review.
• Ensure all collateral disputes are resolved in reasonable time.
• Perform regular review and analysis of collateral profile (e.g. per counterparty, per business ) to help the business optimise the collateral posting.
• Managing the market risk capital process as defined by the local regulations, ensuring the capital system is up to date for any regulatory changes required. Coordinating with various stakeholder for the market risk capital process completion.
• Review and analyse market risk capital per business line to identify trends and propose optimisation initiatives.
• Ensure the business operates within the approved bank policy.
• Ensure all regulatory reporting is performed in timely manner.
• Ownership of projects pertaining to Collateral Management and Market risk capital.

Job Context

• Work closely with several teams to achieve the role objective
  • Market Risk Control and Oversight - for daily validation of market and static data, collateral, risk reports etc.
  • Market Risk Analytics team for valuation/risk methodologies, market data etc.
  • Group Finance: Product control - active liaising to ensure the correct reflection of risk adjusted returns and accounting is aligned to risk practices
  • Group Finance: Active coordination for finalisation of market risk related financial notes
  • Group IT: Coordinating with different IT teams for implementation and development of projects related to Middle office and Market risk capital
• Carry out process improvements using Murex as the key systems enabler.

QualificationsMinimum Qualification

• Masters degree in Finance or Economics.
• Professional certification like FRM or CFA would be an added advantage

Minimum Experience

• 10+ years relevant experience in the banking sector with at least 5 years in similar positions in the Market Risk or Treasury Risk function.

Other essential requirements

• Experience of working on Murex platform for market risk management and other renowned treasury platforms.
• Sound experience of working on financial platforms like Bloomberg, Reuters.
• Knowledge of financial markets and multiple assets classes (FX, fixed income, equities, commodities and Options)
• Detailed knowledge of Collateral Management function (Variation Margin, Initial Margin. ,) including the regulatory guidelines
• Ability to work accurately under pressure to tight deadlines.

Strong inter-personal skills in order to interact confidently with senior management

Keyskills :

About Company

FAB, the UAE’s largest bank and one of the world’s largest financial institutions offers a an extensive range of tailor-made solutions, and products and services, to provide a customised banking experience. Through its strategic offerings, it looks to meet the banking needs of customers across the world via its market-leading Corporate and Investment Banking and Personal Banking franchises.
Headquartered in Abu Dhabi, in Khalifa Business Park, the bank’s international network spans over 19 countries, across the world, providing the global relationships, expertise and financial strength to support local, regional and international businesses seeking to do business at home and abroad. In line with its commitment to put customers first, to Grow Stronger, FAB will continually invest in people and technology to create the most customer-friendly banking experience and will support the growth ambitions of its stakeholders across the global network in which the bank operates.