US ALM Risk Manager

Our client, a Leading Bank, is looking for a US ALM Risk Manager to join their growing team.

Job: US ALM Risk Manager 
  • The US GRM-Balance Sheet Risk (US GRM-BSR) group provides independent and effective on-site monitoring, controlling and communication on the nature and extent of all material liquidity risk and banking book market risk (non-trading market risk, interest rate risk in the banking book [IRRBB]) across the client’s Combined US Operations (CUSO), which includes the client’s US branches and agencies, the client’s Intermediate Holding Company and its material entities. The group is relied up to ensure the implementation of and compliance with risk management policies and procedures.
  • The incumbent will support the Lead, US ALM Risk Management and the Head, US GRM-BSR in the oversight of banking book market risk across the client’s CUSO as part of the Group Risk Management (GRM) mandate and will promote a “Best of Class” risk oversight environment.
  • The role involves providing complex analytical support for managing risk across large portfolios of assets and liabilities, along with the associated risk factors. The complexity exists at both the the client’s CUSO level and within individual legal entities.
  • The incumbent is responsible for applying a working level of knowledge of Asset Liability Management (ALM) (also referred to as banking book market risk, non-trading market risk, or interest rate risk in the banking book – IRRBB); a primary responsibility of this role is to provide support to the Lead, ALM Risk Management on matters pertaining to the oversight of the ALM profile and management of CUSO entities.
  • This role will be one of coordination, working within established policies and procedures and assuming responsibility for interpretation and delivery within established policies and procedures.
  • Independently conduct moderately complex routine operations and maintenance support activities.
  • Demonstrate a good understanding of procedures and concepts within ALM and respond to moderately complex functional queries.
  • Adhere to operating policies and procedures and regulatory guidelines and make recommendations within scope of ALM and/or provide input into policy and procedure amendments.
  • Identify and independently resolve moderately complex routine issues in the context of ALM.
  • Analyze data and prepare reports of observations, and relatively simple recommendations based on findings.
  • Generally execute on approved strategy but may assist in the development of strategies/action plans to address technical and competency gaps within oversight of ALM.
  • Ensure a strong control environment by aligning data management, methodology and quantitative models
  • Utilize the Bank’s banking book market risk measurement platforms to support risk analytics
  • Implement risk analysis tools to allow for deeper understanding of risk drivers and changes.
  • Understand and quantify the impacts from model and parameter assumptions (quantitative and qualitative) employed within the banking book market risk framework, including deposit duration models, retail pricing models, and loan prepayment models
  • Create consolidated reporting that includes additional sensitivity measures and stress testing, with consistent aggregation and integration across business lines, legal entities, etc.
  • Monitor activities and exposures to ensure adherence to approved policies and limits
  • Regularly review existing policies and limits, proposing updates and revisions where necessary
  • Ensure risk reporting is timely and accurate and changes in risk are properly investigated and understood
  • Provide insight on key risks and exposures versus market trends and potential events to identify and provide insight on emerging risk exposures
  • Basic Qualifications (Legislative Requirement)
  • Minimum 2 years’ experience in the financial services sector Bachelor’s Degree.
Other Required Qualifications:
  • Knowledge and experience in ALM and interest rate risk management at a large financial institution.
  • Knowledge of and experience with US bank regulations for liquidity, capital and interest rate risk management.
  • Excellent oral and written communication skills.
  • Strong understanding of risks in the financial services sector, effective risk management approaches and global risk issues.
  • Strong record of work experience in the financial service industry with good exposure to operational processes, financial products, credit and/ or risk management activities.
  • Self-starter with the ability to work independently and in an organized manner, with attention to detail, prioritize, and handle multiple work streams
  • Excellent problem solving, analytical, organizational, written and oral communication skills
  • Good personal computing skills, with knowledge of MS Office programs
  • Intellectual curiosity, global and strategic mindset with ability to think conceptually
  • Diplomatic and an effective consensus builder. Strong interpersonal skills with ability to develop and maintain relationships across business platforms and control functions of the client’s, as well as with external counterparts
  • Ability to meet tight deadlines and work with changing priorities in a dynamic team environment.
This role is required to ensure that:
  • The Bank is adequately prepared to withstand a severe non-trading market risk stress event, and that banking book market risk limits are adequately sized
  • Regulatory compliance (OSFI, Federal Reserve, OCC, and other major regulators) and reputational risk are properly managed by ensuring independent risk oversight and governance functions are maintained
  • Senior risk management (Senior Director and above) is advised of exposures as required by policy
  • Senior risk management is advised of key model and parameter changes that affect risk measurement
The work environment is based on an office or trading floor, thus little physical effort is required. The office environment can be a high stress environment that requires quick turnaround and decision making