Head of Commodities Traded Market Risk
An Australian Bank with operations that span Asia, the Americas, Europe and South Africa; the bank is widely regarded to be the most allocatively efficient and technologically enabled among its peers.
The bank has consistently outperformed its competitors across its core divisions, delivered market leading returns on RWAs, has an exceptionally strong balance sheet and is self-funded.
The investment and institutional banking division comprises of the following product areas:
Global Markets (Commodities, FX, Fixed Income and Rates), Markets, Structured Asset Finance and Advisory & Equity Solutions and Capital Markets.
The Commodities Business:
The bank has vertically integrated global commodities business that is currently growing; expanding into different asset classes and physical delivery contracts. The business has key hubs in London, New York, Singapore and Sydney.
The Market Risk Team covers the development and validation of methodologies and production/reporting of risk measurement information covering: Economic Capital, Regulatory Capital. It also covers policy development, independent oversight, reporting, model development and capital calculations for Traded Market Risk originated within the Institutional Bank.
The team works closely with Sales and Trading, Finance, Balance Sheet Risk Management, Quantitative Modelling & Counterparty Risk, XVA Frameworks and Valuations/IPV, Chief Data Officer and COO.
To help drive success and influence strategy of growing, vertically integrated commodities business within a prudential environment; a unique opportunity within Australia.
The bank has a significant technology investment budget for the Risk Management Function. You will therefore have the opportunity to drive and contribute to number of exiting projects over the next 2 years. That includes: contribution to current IM and MIFID II projects, delivery FTRB Compliant Risk Engine, Enhanced Visual Risk Analytics, and Risk Management Systems Overhaul.
Career progression and development: Internal movement is actively encouraged specifically into the Markets Business, Credit Risk and associated areas, Balance Sheet Risk Management, Treasury and Portfolio Management.
The Bank actively looks to rotate members of the Senior Management team across the bank in order to deliver the skills and experience you need to progress towards executive management.
- You will be accountable for leading the Line 2 product coverage team responsible for independent market risk management oversight of the Global Commodities operations in Asia, Australia, Europe, and USA, including: Agricultural Commodities, Metals & Mining, and Energy trading desks.
- You (and your team) will be accountable for the identification, capture and reporting of traded market risks relevant to the Global Commodities desks to ensure full risk transparency.
- You will have delegated authority to approve transactions and will be responsible for constructively challenging risk outside of appetite boundaries.
- You will be accountable for keeping abreast of upcoming regulatory initiatives and will able to advance thought leadership on Commodities risk management and risk control frameworks more generally.
- Ensuring full risk transparency through the identification, capture, understanding, measurement and monitoring of all Traded Market Risk within the Global Commodities trading books with appropriate escalation as required.
- Exhibit first class commercial acumen (risk/return optimization, not only risk mitigation) when making decisions in relation to transactions and new product approval.
- Challenge the business for consistency of activity when compared against risk appetite and strategy.
- Acting as a trusted advisor to the business on regulatory change and competitor activity.
- Ensure that market risk management regulatory requirements are met.
- Advance thought leadership in relation to your area of oversight.
- Explain daily P&L movements in reference to market movements to potentially identify unusual P&L activity.
- Maintain and enhance the effectiveness of MRM's governance framework and control environment
- Advise business on impacts of risk taking on economic and regulatory capital usage and seek opportunities for improving the accuracy of capital measures as it relates to market risk including XVA
- Identify areas for continuous improvement in activities performed.
- Provide timely and insightful risk reporting and analytics.
- Operate in a manner constituent with the Group's Values and Risk Management Cultural Themes with a particular emphasis on team work and collaboration. Focus on customer service and productivity.
- Effective management of stakeholder relationships.
- Leadership of a team including coaching, mentoring and talent development.
- Supporting the General Manager in senior management forums and active participation in Traded Market Risk LT.
- You will have a keen interest in financial markets and will have c.10+ years' experience in the management/oversight of traded Commodity risk within either Lines 1 or 2
- Have an awareness of industry conditions and the competitive and regulatory landscape impacting capital markets businesses
- Demonstrate capability to make risk decisions independently with full consideration of commercial, customer and risk impacts
- Have well developed stakeholder and customer management skills; are able to communicate your thoughts and ideas using written and verbal techniques and are able to lead a team to drive business outcomes