Senior Market Risk Analyst

Position: Senior Market Risk Analyst

Division: Financial Services

Location: Doha, Qatar

About us: We are the largest Financial Services firm in the MENA region with international offices across Africa, Asia, Europe and the Middle East.

Job Summary:

The Senior Market Risk Analyst will be responsible for the adequacy and effectiveness of the market risk management in the Financial Services Division. The individual will have a strong technical understanding of the control of Market Risk (MR) and will assess the adequacy of the MR Control framework and will define / refine the processes to ensure that all relevant risks are adequately monitored and controlled. You will provide support for:

a) Definition, development and implementation of MR measurement tools, systems, processes and reporting across Financial Services;

b) Support in quantitative analysis and evaluations on market conditions, emerging risk trends and methods for relevant hedging;

c) Assist in the effective net liquid capital management methods, process, and development of MR strategy and ensure alignment to the overall Business Strategy and Strategic Risk guidelines;

d) Must be able to provide hands-on support and relevant solutions for effective operation of data management, MIS, Analytics evaluations, and other support required for Market Making, Liquidity Provisioning and any other Financial Services activity that will have a market risk impact;

e) Periodical vetting of Market Risk model. The primary objective of Market Risk Management is to ensure that the market maker optimizes the risk-reward relationship and does not expose Financial Services to unacceptable losses.

Duties & Responsibilities:

• Support in the oversight and formulation of advice to the senior Management on the current market making risk exposures including the related strategy for capital and liquidity management with due consideration to the macroeconomic and financial environment of capital markets.
• Assist in developing more sophisticated/advanced methods for calculation/ measurement of market risk and economic capital.
• Monitor and analyse market conditions and develop recommendations on adequate and timely mitigation actions / recommendations to reduce, diversity, or hedge these risks.
• Within the context of rigorous stress testing and scenario analyses understand and advise the circumstances under which the firms profitability would be negatively impacted and provide the level of risk mitigation that is built in and the actions that would be taken in such circumstances.
• Review MM/LP Contractual agreements with regulators and clients as applicable, pertaining to the market risk impact to ensure full compliance with the legal and regulatory requirements.
• Support the Head of Risk in providing timely and accurate risk information to Risk & Management Committees, Strategic Risk, External & internal auditors and the compliance function as and when required.
• Support the Market Making project team in the successful implementation of the market risk framework for MM/LP activity.
• Assist in designing suitable Risk policies, procedures and controls for market making in coordination with Strategic Risk Department.
• Have a deep understanding of all the applicable laws and regulations affecting risk management of the designated activities and ensure compliance at all times.
• Contribute effectively to implement a market risk management IT System, with both pre-trade as well as post-trade regulatory and internal controls.
• Incorporate the quantitative risk parameters including regulatory and internal pre-trade risk controls & limits into the MM/LP system.
• In coordination with Strategic Risk;
  • Design a limit control framework capturing all applicable risk factors and dimensions in coordination with Strategic Risk, both within the IT system and through other monitoring mechanisms.
  • Develop suitable market and liquidity risk reports.
  • Design a Value at Risk (VaR) methodology and ensure that the VaR IT System model is calibrated accordingly.
  • Perform the detailed risk analytics, including the risk methodologies risks not fully captured in VaR, trading positions, etc. and conduct the daily review and analysis of the VaR figures and other risk reports.
  • Have a back testing plan to validate the models at regular intervals and take corrective actions whenever required, to provide high assurance on the risk models.
  • Develop a Risks & Controls Self-Assessment (RCSA) and Key Risk Indicators (KRI) for markets and liquidity risks.

• Support the Head of Risk to monitor, control, report and escalate breaches of limits and KRIs for suitable remedial actions.
• Conduct stress tests and scenario analysis for predictive risk management to take timely preventive and remedial action to protect Financial Services at all times.
• Work closely with the Head of Risk and Strategic Risk to handle and report critical market risk events and limit breaches.
• Assist in the communication of key market risks to senior management; prepare and issue market and liquidity risk reports at agreed frequencies.
• Ensure high standards of confidentiality and ethics to safeguard commercially sensitive information.
• Has the ability to run with developed plans and schedules and ensure execution of technical assignments allocated / assigned.
• A strong team contributor.

Education and Experience Requirements:

• Master's degree preferably in finance, economics &/ or quantitative subjects.
• Prefer Equity Market specialization & / or Professional certification such as FRM, CPA, CFA.
• 8+ years of experience with specific focus on Market Risk and Liquidity Risk Analytics / Quantitative Methods.
• Knowledge of market risk management in GCC equity markets with prior experience in implementing limits and portfolio stress tests.
• Proficiency in risk concepts, banking and financial market products / operations/ systems, pertinent regulatory requirements and related best practices.
• Possess a hands-on working knowledge of market risk management best practices including but not limited to portfolio hedging with or without short-selling, securities lending and borrowing mechanisms etc.
• Knowledge of financial markets and products, with particular emphasis on the GCC equity markets.
• Understanding of risk methodologies, interest rate modelling, VAR, and/or other financial risk modelling.
• Ability to work on targeted schedules and disciplined approach to follow reporting deadlines.
• Excellent oral and written communication skills in English,
• Adequate knowledge of IT Systems / applications.
• Good grasp on basic & intermediary risk concepts, banking products/ operations/ systems, pertinent regulatory requirements, international accounting standards and related pronouncements, including related best practices.
• Self-motivated, eye for detail.
• Flexible team player and able to work and deliver under pressure.