Senior Risk Analyst, Risk Oversight (24-month contract)
City : Montreal - 1190 av. des Canadiens-de-Montreal
Category : Full time
Industry : Technology & Financial Services
Employer : TMX Group
Venture outside the ordinary - TMX Careers
The TMX group of companies includes leading global exchanges such as the Toronto Stock Exchange, Montreal Exchange, and numerous innovative organizations enhancing capital markets. United as a global team, we’re connecting cross-functionally, traversing industries and geographies, moving opportunity into action, advancing global economic growth, and propelling progress. Through a rich exchange of ideas, meaningful collaboration, and a nimble operating model, we're powering some of the nation's most critical systems, fueling capital formation and innovation, bringing increased opportunity to business visionaries, product ingenuity to consumers, and career exploration to our team.
Ready to be part of the action?The TMX group of companies includes leading global exchanges such as the Toronto Stock Exchange and the Montreal Exchange, and numerous innovative organizations enhancing capital markets, such as the Canadian Depository for Securities (CDS) and the Canadian Derivatives Clearing Corporation (CDCC).
As a member of the Cleared Equity Total Return Swap (TRS) project team, the Sr. Analyst designs and operationalizes CDCC’s hedging, Default Management and Recovery tools, programs and processes for the new Equity TRS clearing service. Drawing on their expertise, the Sr. Analyst finds practical solutions to Equity TRS exposure hedging scenarios and structures CDCC’s Equity TRS default auction to create incentives for surviving Equity TRS Clearing Members to acquire all of a defaulter’s positions. Using their direct equity TRS product knowledge, the Sr. Risk Analyst will validate complex financial risk models for equity TRS base initial margin and margin add-ons (e.g. for market liquidity risk, settlement risk etc). The Sr. Risk Analyst will assess models’ performance in provisioning for market, credit and liquidity risk exposures using backtesting and sensitivity analysis techniques. The candidate will also evaluate the adequacy of Equity TRS stress testing in terms of scenarios coverage of all relevant risk factors and severity of shock scenarios.
Analyze Equity TRS financial risk exposures (market, credit and liquidity) and validate models used to calculate required margin, clearing fund and liquidity resources validation, and make recommendations to streamline current processes and improve efficiency
Understanding existing and prospective projects and support needs, strategic objectives, business, and other implications or constraints, and decision-making processes
Design and operationalize Equity TRS
Hedging strategies and procedures
Default auction rules and processes with embedded incentives to maximize the likelihood of auction success
Liquidity exposure quantification processes
Present solutions and quantitative results to senior Equity TRS project team members, Regulators and CDCC Clearing Members
Communicate, escalate, and update stakeholders on various topics (issues, action plans, etc.)
Developing and maintaining positive relationships with project team members, business partners (Operations, Legal, IT) to collaborate on projects that relate to risk management
Provide expert support in risk measurement, and qualitative and quantitative analysis related to equity, fixed income, derivatives, and structured products
Collaborate with legal teams for filings related to new rules, rule amendments, and regulatory guidance
A Bachelor/Master’s degree in finance, financial engineering, statistics, or the equivalent
Minimum 3 years of experience in the financial industry with a focus on capital markets and financial risk management in a quantitative role (e.g. market, liquidity, or credit risk measurement and management) dealing directly with equity TRS products and/or Prime Brokerage or Hedge Fund activities in equities asset class
Experience managing Equity TRS trading book risk and understanding of market structures, liquidity flows and regulatory changes
Sound knowledge of financial risk management concepts and techniques, such as various Value-at-Risk measures,
Relevant risk management experience in fixed income, structured products or derivatives preferred
Excellent quantitative and data analysis skills with the ability to manage multiple tasks and meet tight timelines without compromising the integrity of information
Good analytical skills with strong attention to detail
Self-starter who is proactive and capable of working independently
Strong interpersonal skills and work well in a team environment
Possess expert written and oral communication skills
Ability to reflect, summarize, and present complex ideas
Nice to Haves:
Strong technology and information system skills, e.g. Matlab, SQL, VBA, R.
Working towards FRM (Financial Risk Manager from GARP) or/and PRM (Professional Risk Manager from PRMIA)
Enrolment in CFA (Chartered Financial Analyst) program
In the market for…
Excitement - Explore emerging technology and innovation, as well as ventures and digital finance that shape the future of global markets! Experience the movement of the market while grounded in the stability of close to 200 years of success.
Connection - With site hubs in some of the world’s most multicultural cities, we leverage our size and structure to create rich connections and belonging while experiencing powerful global impact through our work.
Impact - More than a platform, we use our talents to power mission-critical systems that drive global economic advancement, innovation, and growth. As well, our employee-led Team Impact spreads social good via our giving strategy.
Wellness - From empathetic leadership to a culture of flexibility and balance, we believe wellness at work creates the maximum yield and a stronger “we”. Plus, with a cloud-first and hybrid workstyle, as well as generous time-off and leaves, we support a life well lived!
Growth - From a growth mindset in our work, to expansion in our business, TMX is home to action-takers energized by the achievement of ambitious growth.
Ready to enrich your career with impactful work, leaders who truly care, and the flexibility and programs to help you thrive as part of #TeamTMX ? Apply now.
TMX is committed to creating and sustaining a collegial work environment in which all individuals are treated with dignity and respect and one which reflects the diversity of the community in which we operate. We provide accommodations for applicants and employees who require it.