Position Title: Risk Analyst
Duration: 6 months
Extension Possible: Yes
Location: Downtown Toronto (4 days onsite)
Degree/Level of Education: UG; ideally post graduate; CFA, FRM preferred
Years of Overall Experience: 5-7 yrs
Preferred/Ideal Candidate Background: Ideally risk management or investigation which is relevant experience within the FI industry (Financial services ideally)
Department Overview:
The Market Risk and Counterparty Analytics area is part of the Bank's Corporate Risk Management function. Our teams are accountable for the Market Risk, Counterparty Credit Risk, and Collateral activities of The Bank’s global trading activities. We support trading and non-trading business initiatives, inform an array of risk management decisions, and facilitate business through managing evolving front office needs, while ensuring appropriate capture and control of risk.
The Counterparty Risk Analytics team is responsible for a number of activities related to the quantitative analysis of credit risk, policy implementations, and exception management across a number of trading and non-trading businesses within the Bank.
Job Description:
An Analyst within the Credit Exception Management team will primarily focused on analysis, reporting, and monitoring of risk exposures ensuring that they are in accordance with established counterparty credit limits. The incumbent is expected to execute on infrastructure changes with regards to new or revised credit facilities.
The role will involve close partnership and interaction with a wide range of areas, including credit risk management, global markets credit, market risk control, front office, audit, and change delivery. As a result, the successful candidate will be required to possess strong communication skills.
Typical Day-to-Day Responsibilities:
The Analyst, Credit Exception Management would be accountable for the following core responsibilities:
- Manage Counterparty Credit Risk by investigating and escalating credit excesses at the facility level.
- Generate accurate and complete processes to measure and report on exposures ensuring that all reports are submitted as per reporting guidelines.
- Ensure risks within portfolios covered are correctly measured, aggregated, and analyzed in accordance with established and approved CAIRO counterparty limits.
- Provide analysis, reporting and monitoring of risk exposures and adhere to internal standards with regards to violations and the escalation of production issues.
- Ensure that all late or missing reports and related process metrics are recorded, documented and explained appropriately.
- Propose, schedule, plan and champion projects to improve efficiencies in order to provide more effective business support.
- Execute infrastructure changes with regards to implementation of new or revised policies or processes.
- Ensure internal control processes are adequate and documented appropriately as per the governance standards including establishing appropriate review and assessment of the quality of outputs based on business standards.
- Manage operational risk (e.g., cross-training, documentation, and audit).
- Liaise closely with the Bank’s front office traders, Credit Risk Management, Global Markets Credit, audit, technology groups, and other stakeholders to assist in meeting the Bank’s objectives.
- Perform ad-hoc analyses of specific metrics/exposures/transactions as required by management and stakeholders.
- Maintain a good understanding of the analytical principles underlying the risk management of financial derivatives, including issues that arise regarding financial modeling of products for risk purposes
- How much time is being spent in meetings: 30 minutes to 1hr daily
- Who are they interacting with (internal/external): Internal stakeholders (business, technology and operations)
- Will the contractor have access to any customer data? YES
MUST-HAVE Hard Skills:
- Strong knowledge of financial products (derivatives and bonds), counterparty credit risk and Capital Markets
- Experience of working with complex systems - (Vendor systems)
- Experience with performing impact assessments, drafting requirements, and performing testing for projects
- Investigation (Main focus)
SOFT SKILLS:
- Self-starter with a high degree of initiative and the ability to learn and adapt quickly
- Sound financial acumen, specifically exceptional investigation, analytical skills and attention to detail. Ability to synthesize information on complex issues and make judgment calls
- Excellent interpersonal and communication skills to communicate complex information clearly
- Strong organizational, follow-up and priority-setting skills to handle multiple tasks
NICE-TO-HAVE:
- Experience in Risk Management roles is a plus
- Working knowledge of technical tools (SQL/VBA/Python/Artificial Intelligence) is a plus
