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Market Risk Director

  • Salary: Competitive
  • Location: Middle East
  • Job type: Contract
1.JOB PURPOSE

Manages the product control and risk analytical functions of the Market Risk Group which is responsible for identifying, monitoring, measuring, reporting, and controlling the Market Risk fucntion.
Oversees daily calculation and reporting of Market Risk metrics and controls Market Risk within the organization through the enforcement of the risk limits set out in the Market Risk Policy.
Responsible for overseeing development and execution of Market Risk policies and procedures.
Coordinates with the Front Office to develop risk mitigation procedures for positions approaching or exceeding risk limits and escalate breaches of Market Risk policies and limits to the CRO, VP of Supply and Trading, and RMC.


2.MINIMUM QUALIFICATIONS/EDUCATION/EXPERIENCE/TRAINING/KNOWLEDGE

(Indicate the minimum recruitment specification and also the ideal person specification and the preferred minimum qualifications and skills for fully satisfactory job performance and to meet expectations)

Formal Education
Include any specialized education and qualifications needed to do the job.
• Bachelor's Degree in a Quantitative Field (mathematics, economics, finance, engineering)
• MBA or MS
• FRM or ERP certification preferred
Work Experience
Clarify the minimum years of total work experience and other relevant work experience required to do the job
• 25+ years of relevant experience in trading risk management or banking of which 5 years is in a supervisory position.
• Experience with energy commodities preferred
Skills and Knowledge
Include any specialized skills or knowledge needed for the job.
• Excellent financial and valuation analysis experience
• Expert knowledge and application of decision analysis, techniques and statistical modelling relating to both market and credit risk control models
• Skilled at developing Market Risk analytical models, methods, and reporting (e.g. VaR, stress testing, etc.)
• Strong skill set in developing and validating market/credit risk control models as well as saturation of limits
• Strong skill set in evaluating hedge efficiency and forward curves management
• Sound understanding of commodity trading business
• Strong analytical skills and knowledge of oil trading financial instruments
• Knowledge of crude, oil products, LPG, and chemicals industry preferred
• Strong knowledge coupled with experiences in implementation of new ETRM system
• Strong skill set in VBA and SQL programming
• Strong awareness of latest market developments
• Strong ability to challenge Front Office on trading strategy assumptions and propose alternate market perspectives
• Skilled at leadership and development
• Excellent verbal and written communication skills
• Exhibits confidence and presence in discussions with senior management
• Attention to details with a strong process execution focus

3.JOB DUTIES AND RESPONSIBILITIES


1.Defines and maintains the processes, methodologies, and capabilities of the Market Risk group.
2.Works with Market Risk team and Risk Systems Manager to define stress and scenario testing cases.
3.Oversees, reviews, and distributes Market Risk reports (e.g. VaR, stress tests, scenario outputs, etc.)
4.Manages maintenance and revisions of the Market Risk systems in coordination with the Risk Systems Manager and Information Technology.
5.Identifies changes in the technology solution requirements and instigates vendor identification.
6.Coordinates risk mitigation planning in response to VaR limit breaches.
7.Manages the Market Risk group.
8.Perform any other duties as dictated by the business and the CRO.






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  • Salary: Competitive
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  • 1.JOB PURPOSE Manages the product control and risk analytical functions of the Market Risk Group which is responsible for identifying, monitoring, measuring, reporting