Market Risk Analyst

Overview

Zenith Bank (UK) Limited (ZBUK) is a subsidiary of Zenith Bank PLC. Zenith Bank PLC is a highly awarded bank known for innovation, resilience, and market leadership. Zenith Bank (UK) Limited (ZBUK) was established to leverage trade and investment flows between Nigeria and Europe, providing intermediary banking services for trade-related working capital and capital expenditure. The bank is committed to developing its staff through learning opportunities while promoting well-being and work-life balance. Our five-year strategy focuses on controlled growth as we aim to be the bank of choice for businesses transacting in Africa.

Role Overview

Market Risk is a second line of defence function focused on active monitoring of the bank\’s risk portfolios to identify, monitor, and escalate risks and control findings to enable timely decision making by the CRO and the wider ZBUK executive. The role includes oversight of infrastructure, user activity and controls, compliance with the Bank\’s Risk Appetite and related policy and project development to support risk projects and regulatory requirements.

Role Responsibilities

Identification

• For agreed risks (split by asset class, risk policy or otherwise), develop a detailed understanding of the risks and maintain up-to-date situational awareness.

Monitoring

• Actively monitor markets to assess the potential impact of market movements and wider economic activity on the bank’s portfolio of proprietary and client-based FX, trading, and banking book products.
• Monitor limits for the Trading and Non-Trading portfolios in accordance with ZBUK’s policies approved by the Board Risk Committee.
• Report on breaches of risk management policies, limits and/or controls.
• Produce daily market risk reporting and other ad hoc reporting for senior management, Treasury, and the Board.
• Present reports in a constructive, insightful, and effective way to ensure risks, issues and opportunities are understood for decision making.
• Participate in the development of systems to assist in the evaluation and analysis of risk information.
• Work with a high degree of accuracy to ensure no restatement or reworking of positions/reports is required.
• Collaborate with the CRO and the wider Risk team to enhance and implement new MI reports for Market & Liquidity Risk, including the identification, collection, and analysis of risk information. Enhance and automate risk reports and tools with Excel and Python.
• Maintain and update internal procedures, RCSAs and process flows.
• Provide weekly Market Risk reports to the Market Risk Committee and the Asset and Liability Committee.
• Deliver management information efficiently and in a timely manner.
• Ensure compliance at all times with applicable legal and regulatory requirements.

Additional Responsibilities

• Keep up to date with industry best practice and regulatory developments affecting risk management.
• Update regulatory documents and models to support the Manager of Market and Operational Risk.
• Be self-starting with a proactive approach to self-development and broadening skills.
• Develop tools to effectively and independently validate daily liquidity and capital reports from Finance.
• Support and contribute to wider Risk projects and objectives as a reliable and conscientious team player.

Together with the listed duties the Market Risk Analyst is expected to assist with other analytical and project work and ad hoc duties assigned by the CRO and to comply with the FCA/PRA’s Individual Conduct Rules.

Skills and Knowledge Required

• At least 3-5 years’ experience in Market Risk.
• Degree in a numerical/financial discipline.
• Sound understanding of derivative and foreign exchange trading.
• Driven, ambitious, self-starter who can grasp concepts quickly and deliver reasonsed investigations and analyses.
• Attention to detail and a strong control environment mindset.
• Knowledge of Basel II, Basel III, and Risk and Capital requirements.
• Knowledge of regulatory practices within Risk and Finance in financial services.
• Positive, approachable team player who can work with colleagues at all levels.
• Understanding of VaR and other measures of market exposures and accounting knowledge.

Software Knowledge

• Strong IT skills; Advanced MS Excel (Essential), Python (Essential), VBA (Desired).
• MS Word and MS Outlook.
• Experience with Bloomberg is an advantage; Temenos (T24) and Calypso (Advantageous).

Specific Product Knowledge Required

• Essential: Interest Rate Futures, Foreign Exchange, Interest Rate Swaps, Bonds and NDFs.
• Desirable: Wholesale Money Market and Trade Finance Products.
• Desirable: Awareness of Liquidity regulatory requirements.

This is a permanent position, paying up to £65,000 based on experience.