At a Glance
- Tasks: Lead risk management for a top financial services group in London.
- Company: A leading international financial services group with a strong reputation.
- Benefits: Competitive salary, leadership opportunities, and a dynamic work environment.
- Other info: Collaborate with senior leaders and drive impactful risk strategies.
- Why this job: Shape the future of risk management in a fast-paced financial sector.
- Qualifications: Extensive experience in risk management within wholesale brokerage or commodity markets.
The predicted salary is between 70000 - 90000 £ per year.
A leading international financial services group is seeking an experienced Chief Risk Officer to establish and lead the risk management function of its London business. The successful candidate will have extensive experience within a wholesale brokerage, futures commission merchant, clearing broker, commodity broker, or regulated derivatives business, together with strong knowledge of LME metals and commodity futures markets.
The Chief Risk Officer will be responsible for developing and maintaining the firm’s enterprise-wide risk framework, covering market, credit, counterparty, liquidity, operational and regulatory risks. The role will work closely with the Board, senior management, trading, brokerage, operations, compliance and finance teams.
Key Responsibilities- Risk Governance and Strategy
- Develop and implement the firm’s risk management strategy, policies, limits and governance framework.
- Advise the Board and senior management on the firm’s overall risk appetite and material risk exposures.
- Establish appropriate risk committees, escalation procedures and management reporting.
- Promote a strong risk culture across the London business.
- Provide independent challenge to commercial, brokerage and trading activities.
- Market and Trading Risk
- Oversee market risk arising from LME metals, commodity futures, options, foreign exchange and related derivatives.
- Establish and monitor risk limits covering VaR, stress loss, concentration, basis risk, liquidity risk and position exposures.
- Review client and house positions, including outright futures, spreads, options, warrants and physical or financial hedges.
- Assess risks associated with exchange volatility, margin movements, delivery periods and concentrated positions.
- Design stress-testing and scenario-analysis frameworks for extreme market conditions.
- Credit and Counterparty Risk
- Develop the firm’s counterparty credit risk framework for institutional, corporate, trading and brokerage clients.
- Approve client limits, margin requirements, collateral arrangements and credit terms.
- Monitor current and potential future exposure across cleared and bilateral transactions.
- Oversee margin calls, collateral shortfalls, limit breaches and distressed client situations.
- Assess risks arising from clearing brokers, exchanges, banks, custodians and other financial counterparties.
- Liquidity and Capital Risk
- Monitor liquidity requirements arising from exchange margin calls, client activity and stressed market conditions.
- Develop liquidity stress tests and contingency funding plans.
- Work with Finance and Treasury to ensure sufficient capital and liquidity resources are maintained.
- Contribute to regulatory capital assessments, including ICAAP, ICARA or other applicable prudential frameworks.
- Operational and Regulatory Risk
- Oversee operational risks relating to trade execution, booking, confirmation, settlement, clearing and collateral management.
- Work closely with Compliance to ensure the risk framework meets applicable UK regulatory requirements.
- Support regulatory submissions, audits, inspections and interactions with relevant authorities.
- Ensure effective controls are in place for new products, new markets, new clients and material business changes.
- Oversee incident management, business continuity and operational resilience frameworks.
- Leadership and Stakeholder Management
- Build and lead an effective risk management team as the London business develops.
- Present regular risk reports to the Board, executive management and relevant committees.
- Work collaboratively with the firm’s international headquarters and regional risk teams.
- Maintain constructive relationships with regulators, exchanges, clearing brokers, auditors and external advisers.
- Act as a senior control-function leader and trusted adviser to the CEO and Board.
Significant experience in a senior risk role within a wholesale broker, commodity broker, futures broker, FCM, clearing broker, investment.
Chief Risk Officer in London employer: AAA Global
As a leading international financial services group based in London, we pride ourselves on fostering a dynamic and inclusive work culture that prioritises employee growth and development. Our Chief Risk Officer will play a pivotal role in shaping our risk management strategy while enjoying competitive benefits, a collaborative environment, and the opportunity to work alongside industry experts in the fast-paced world of wholesale brokerage and commodity futures. Join us to make a meaningful impact in a company that values innovation and excellence.
