See job description for details
The purpose of the job is to provide comprehensive market risk oversight and control of Global Markets function on a near real time basis in compliance with Bank Policies, regulatory guidelines and financial market environment Generic Accountability
Job Specific Accountabilities
- Act in consonance with the Group's vision and mission to facilitate the organizational objectives of growing stronger
- Ensure the achievement of the bank's business plans by optimizing risk adjusted performance of Global Markets
- Provide an assurance to the GCRO through the Head of Market and Liquidity Risk that all material market risks pertaining to Global Markets have been identified & monitored and mitigation strategies put in place wherever required.
- Assist the head of market risk oversight in implementing the Market Risk Appetite Framework ensuring a robust oversight and monitoring mechanism is in place.
- Ensure correct monitoring and reporting of all market risks is done on a daily basis.
- Ensure that all risk reports are reviewed, validated and analysed before and after dissemination to stakeholders
- Ensure the business operates within the approved market risk limits
- Perform stress testing in accordance with internal policies / regulatory guidelines.
- Ownership of projects pertaining to market risk oversight and control.
- Assist market risk management in preparing the risk packs to senior risk committees
- Work closely with several teams to achieve the role objective
o Middle office and Risk Control - for daily validation of market and static data, collateral, risk reports etc.
o Market Risk Analytics team for risk methodologies, market data etc.
o Group Finance: Product control - active liaising to ensure the correct reflection of risk adjusted returns and accounting is aligned to risk practices
FRAMEWORKS, BOUNDARIES, & DECISION MAKING AUTHORITY:
- Carry out process improvements using Murex as the key systems enabler.
- Functions within the framework and boundaries of Group policies as well as overall organisational and governance frameworks.
- Policies and Framework
o Group Market Risk and its associated policies
o Risk Appetite Statement
o Approved Product List
o Any other document / policy / processes related to Market Risk Management
o Investment Management Committee
o Valuation Committee
o CBUAE guidelines
- Authorised to take decisions as per the approved authorisation matrix.
Qualifications Minimum Qualification
- Bachelor's degree in Finance or Economics.
- Professional certification like FRM or CFA would be an added advantage
Other essential requirements
- 5 years' relevant experience in the banking sector with at least 2/3 years in similar positions in the Market Risk or Treasury function.
- Experience of having extensively worked on Murex platform for market risk management.
- Knowledge of financial markets and multiple assets classes (Fx, fixed income, equities, commodities)
- Ability to work accurately under pressure to tight deadlines.
- Strong inter-personal skills in order to interact confidently with senior management