Risk Analysis Specialist III - Data Validation for Traded Products
Counterparty Credit Risk & Analytics (CCRA) is a function within Global Markets Risk Analytics. The group’s primary function is to ensure robust controls and processes exist to validate the firm’s Traded Products activity for the purposes of Daily Credit and Capital (Basel) calculations.
An opportunity for a Risk Analysis Specialist III has become available within CCRA Data Quality and Integrity (CCRA-DC&I). This team, which is spread out across multiple geographic locations, including: Chicago, New York and London, is responsible for the data validation of the legacy state Traded Products repository (ARCTIC) to the bank’s Books and Records (GL) for the purposes of Basel RWA capital calculations and Fin39 Balance Sheet netting. In addition, the team is also responsible for facilitating various governance routines for manual adjustments (AO Templates) and exclusions (Filter Governance) which impact a variety of data consumers, including: Credit Risk, Enterprise Capital Reporting, OTC Collateral and CVA/xVA. Additional supplementary reporting and analysis routines are also performed to ensure downstream user confidence.
With the backdrop of a rapidly changing riskinfrastructure to Qz/Sparck, this role will require the candidate to be able to quickly acclimate themselves with a strong understanding of legacy state processes, and then drive how and/or if these will/need to translate in the strategic target state environment.
Roles & Responsibilities
- Act as a senior manager to junior members of staff and be responsible for coaching and mentoring their development.
- Perform as a senior leader to drive forward both BAU and strategic initiatives (with an appreciation of target state design) to successfully deliver on expectations.
- Create presentations on key strategic initiatives and be able to show-case and explain work performed to a senior management level audience.
- Challenge existing processes to develop synergies, ensure alignment, and stronger controls.
- View the credit and capital environment from a holistic stand-point, and be able to identify inter-connecting issues.
- Leverage knowledge of Balance Sheet management and be able to challenge certain Accounting or GL entries (as appropriate).
- Oversee the reconciliation results across all Asset classes, specifically for Traded Products (i.e. Derivatives, Repos, etc.), and be able to handle all day-to-day inquiries from numerous downstream stakeholders.
- Implement target state projects and initiatives related to the firm’s Basel IMM/Daily Credit program.
- Address data gaps, execution of tactical and strategic solutions.
- Work collectively with various business areas and SMEs to ensure full due diligence and investigation is carried out when documenting new and existing filter logic.
- Ensure existing weekly end to end routines are maintained and all live Filters are successfully reviewed and approved within an 18 month period.
- Leverage existing knowledge of Credit Risk, Balance Sheet and Collateral Management to understand and pre-empt any impact of certain products and trade bookings on each downstream consumer.
- Work with Technology groups to track and ensure all efforts requiring development is completed.
- Provide business specifications for Technology enhancements.
- Coordinate with lines of business, stakeholders and technology to ensure accuracy of new filter implementation or modification logic.
- Coordinate with wider IMM Project Team and Risk Data Management Team to ensure stability in conversion to Target State platform in Quartz.
- Drive forward new analysis processes and routines for daily Filter Manager Reporting.
- Work to ensure certain trade and indicative data is complete, accurate and received on a timely basis.
- Oversee preparation of monthly Basel reconciliation reports for senior manager review and ultimate RWA calculations.
- Liaise with Finance and Legal Entity Controllers on reconciliation, with the view to resolving all outstanding breaks, and ensure accuracy of resolution implementation.
- Work with Technology groups and establish controls to ensure all critical dependencies and batches processing are identified, understood and managed.
- Provide business specifications for technology enhancements.
- Perform User Acceptance Testing, particularly in light of new Qz/Sparck output.
- 10 years+ post graduate (Bachelor level) work experience gained in an Investment Bank or Finance environment.
- Bachelors Degree in Accounting, Business Administration, Finance, Economics, Mathematics, Financial Engineering, and Information Systems with a Business concentration.
- Preferred candidate will have Accounting qualifications (CPA/Chartered).
- Multiple years’ experience in Finance, Credit Risk, Data Reporting.
- Strong Traded Products knowledge, with exposure to Credit Risk and Basel rules.
- In-depth experience in reporting metrics to management and data analysis.
- Ideally general understanding of BAC systems including: ARCTIC, Credit Studio, Carbon, SABER, Qz/Sparck.
- Advanced proficiency in MS Excel and Power Point is required.
- SQL data mining skills is preferable.
- Knowledge of Chart of Accounts hierarchy, with preferred knowledge of Oracle, SAP or Insight General Ledger.
- Must be a proactive senior leader, who is highly motivated and be able to inspire confidence and results within the team.
- Strong analytical skills combined with problem solving capabilities
- Excellent verbal and written communication skills required
- Ability to multitask, challenge the norm and see the issues holistically in a fast paced environment
- Candidate must be able to manage time sensitive issues, prioritize multiple processes and projects and articulate thought process for decision-making
- Ability to work well in a team environment, where the team is spread across multiple geographical locations and time zones.
- Confidence and ability to work with all levels of management
- Highly detail oriented and organized – candidate can identify and resolve issues quickly and accurately
- Proven track record of successful delivery of tasks and initiatives.
Majors considered: Accounting, Business Administration, Finance, Economics, Mathematics, Financial Engineering, and Information Systems with a Business concentration.
Responsible for performing data management, complex analysis, and modeling that maximizes profits and asset growth and minimizes credit and operating losses and otherrisk exposures. Provides data / IM, analytical support on various product strategies to ensure company goals are met. Coordinates the production of databases, performance reports for senior mgt. Manages the review and analysis of trends in current population distributions and recommends strategies. Directs the development of more complex databases, program models to extract data and use databases to provide statistical and financial modeling. Oversees the data design, analysis of portfolio trends, concerning credit score cutoffs, loss trends, portfolio dynamics, and bureau scoring criteria. Integrates the analysis team with other corporate units to insure alignment of analysis with business strategies and objectives. Responsible for hiring and training Risk Analysis Specialist and Risk Analysis Analyst. PhD, Master's degree, or large data experiencepreferred; Programming experience like SQL, SAS preferred; 7+ years experience.
Job number: 17072926