Job Summary
We are seeking an experienced Senior Risk Manager to provide independent market risk oversight of the Prime Services and XVA desks in London. This role partners closely with Trading, Sales, In-Business Risk, Credit Officers, and control functions to ensure traded risk exposures remain within approved appetite and regulatory expectations.
The successful candidate will monitor, assess, and challenge market and counterparty credit risk exposures across securities and derivatives portfolios within the Prime Services and XVA businesses, review and approve risk limit requests within delegated authority, and elevate material issues to senior management where appropriate.
This is a high-visibility role in a fast-paced environment requiring strong technical expertise, sound judgement, and the ability to influence stakeholders across Front Office and Control functions.
Key Responsibilities
Risk Monitoring & Control
- Oversee daily risk monitoring for Prime Services and XVA desks, including limits utilisation, stress testing, sensitivities, and exposure analysis.
- Ensure trading activity and risk exposures remain within agreed risk appetite and delegated authorities.
- Review and approve client limit excesses, new business proposals, and risk limit requests in a timely manner; elevate where required.
- Identify emerging market risks and provide timely analysis, challenge, and recommendations during periods of market stress or volatility.
Risk Framework & Governance
- Design, review, and enhance risk limit frameworks for Prime Services clients and product offerings in collaboration with Market Risk, Counterparty Credit Risk, and In-Business Risk teams.
- Conduct semi-annual reviews of risk frameworks to ensure continued appropriateness and regulatory alignment.
- Provide detailed risk analysis and written commentary for weekly and monthly governance forums, highlighting material exposures and portfolio concentrations.
- Support the TRM Head in preparing submissions for Financial Markets Product Governance Committees and other Group-level risk forums.
- Maintain effective relationships with regulators, auditors, and internal control functions.
Stakeholder Engagement
- Partner with Prime Services Sales, Middle Office, XVA Trading, Credit Officers, Finance, Product Control, and Modelling & Analytics teams to ensure risks are properly measured and controlled.
- Challenge Front Office and control function stakeholders to ensure risk-return decisions are aligned with strategy and approved appetite.
- Participate in new product approvals, service launches, and systems onboarding, ensuring risks are appropriately captured and governed.
Skills & Experience
- Proven track record of Market Risk experience within a financial institution, covering securities and financial derivatives.
- Strong expertise in Market Risk frameworks (VaR, stress testing, sensitivities, scenario analysis).
- Good understanding of XVA risk components (CVA, FVA, MVA) and Prime Brokerage risk dynamics.
- Experience reviewing and approving traded risk limits within delegated authority structures.
- Working knowledge of Counterparty Credit Risk methodologies (e.g., PFE, EAD, exposure modelling) and management of Hedge Funds’ risk.
- Proven ability to operate in a front‑office‑facing risk oversight role with strong stakeholder management skills.
- Strong analytical, quantitative and report‑writing capabilities.
- Ability to respond effectively under pressure and during periods of market volatility.
Qualifications
- Bachelor’s degree or higher in a quantitative discipline (e.g., Finance, Mathematics, Economics, Engineering).
- Professional certifications such as FRM or CFA preferred.
- Strong understanding of banking risk management frameworks and regulatory expectations.
- Fluent English (written and verbal).
Benefits
- Core bank funding for retirement savings, medical and life insurance.
- Time‑off including annual leave, parental/maternity (20 weeks), sabbatical (12 months maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum.
- Flexible working options based around home and office locations, with flexible working patterns.
- Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits.
- A continuous learning culture to support your growth, with access to physical, virtual and digital learning.
- Being part of an inclusive and values-driven organisation, one that embraces and celebrates our unique diversity across our teams, business functions and geographies – everyone feels respected and can realise their full potential.
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