Vice President, Counterparty Credit Risk Management - 19673 in London

Here at SMBC Group, we want to help you find the next step in your career so read on to discover if this opportunity is the one for you. We like to recognise potential in our people, so we welcome your application even when your experience doesn’t perfectly align with the job description. Whilst we’ll always strive to be better, we’re proud of our inclusive culture, and encourage our applicants and colleagues to be their authentic, unique selves.

Role Summary

The Risk Management Department (RMD) is responsible for managing all aspects of the risk management function within SMBC BI and CM Ltd. As part of the 2nd line of defence, RMD works in partnership with the Credit and Compliance Department, Finance and Control and Internal Audit to ensure that the organisation remains fully compliant with all regulatory policies and procedures.

The role is responsible for supporting the management and control of all trading credit risks arising in EMEA region which includes global derivatives and securities operations and reviewing the effectiveness of the measures in place.

Purpose of Job

• Accountability for Trading credit risk management in London and oversight for trading credit risks in other group entities across EMEA. To take decisions as appropriate in a timely manner.
• Risk Appetite: Enhancing, monitoring and reporting of Risk Appetite in London for Trading Credit Risk and ensuring consistency of approaches in the EMEA region as appropriate. Ensuring the risk appetite is appropriate for the legal entity structure.
• Risk Framework: managing and enhancing the development of a consistent Risk Framework for Trading credit risks in EMEA and ensuring this is maintained/ refreshed annually for approval by relevant committees and by the Board.

Responsibilities

• Assist in the design, management and on-going development of the Trading Credit Risk, Framework, Policy and limit structure; appropriate to the risk appetite of the firm.
• Make input verbally or in writing to aid good credit risk decisions; including within the relevant committees. Make clear and reasoned recommendations.
• Make recommendations and exercise judgement, cognisant of risk management policies, firm appetite and industry best practice.

Counterparty Risk Monitoring

• Implement daily monitoring and review of counterparty risks across EMEA with explanation of risk drivers responsible for large daily moves.
• Participate in the monthly Credit and Counterparty Credit Risk Committee and provide input on the key developments over the month. Ensuring that the monthly risk appetite profile, key risk indicators and management information is updated and supported by salient commentary.
• Ensure all Frameworks, policies and procedures are pertinent, well documented with approval governance, up to date, and adhered to.
• Liaise with other group entities and attend scheduled and ad hoc meetings to ensure a group wide consistent approach.
• Ensure EMEA region counterparty risk management practices are in line with BCBS Guidelines for Counterparty Credit Risk Management.

Key Stakeholders

• MD Credit Portfolio and Policy RMD, CM Ltd CRO; SMBC BI CRO, RMD Credit Portfolio and Policy Team; & senior risk team members; CFO; Treasurer; CEO; Planning Dept.; Desk Heads (DPG & SPG); CM Inc. and Nikko Tokyo; Front office members as appropriate.

Key Facts

• Securities and Securities Financing Transactions portfolio of c.$30bn.

Knowledge, Skills, Experience & Qualifications

• Experience in counterparty credit risk exposure management and have a good understanding of different risk measures including Potential Exposure, Wrong Way Risk, Stress Testing etc.
• Excellent knowledge of Fixed Income and Derivative products and the risks that arise from them (Bonds, Repos, Derivatives).
• Advanced Excel skills for data analysis and basic programming skills to automate manual operations.
• Experience with Data visualisation dashboards like Power BI, Tableau etc.
• Ability to analyse the credit worthiness of corporate, financial institution and NBFIs (including HF’s) and SPV counterparties, particularly in the area of leveraged finance.
• Solid understanding of trading related master agreements, collateral and risk mitigation techniques.
• Experience of taking and justifying decisions; ideally with a personal discretion.
• Excellent written and verbal communication skills required (including experience of writing papers for Board submissions and updates).
• Must be motivated and be a team player with a strong sense of responsibility.
• Ability to multitask, work independently or cooperatively and meet deadlines.

Position Description

• Assist in the design, management and on-going development of the Trading Credit Risk, Framework, Policy and limit structure; appropriate to the risk appetite of the firm.
• Make input verbally or in writing to aid good credit risk decisions; including within the relevant committees. Make clear and reasoned recommendations.
• Provide input into the monthly Credit and Counterparty Credit Risk Committee and be principally responsible for conveying all relevant information to members to enable the Committees to fulfil its purpose.
• Automating the manual processes relating to exposure monitoring and reporting.
• Review credit risk related legal documentation; proposing enhancements as appropriate with a view to standards of market practices.
• Accountable for production/review of Credit Risk M.I. and daily exposures monitoring.
• Daily interaction with Front Office. Promote a business appropriate trading credit risk culture.
• Represent Risk Management professionally in discussions within the firm, the wider group and externally.
• Authorise basis upon which trader may proceed or otherwise.