Job Description

Reference # : 21-01746Title : Enterprise Risk Analyst
Location : New York, NY
Position Type : Contract
Experience Level : Start Date / End Date : 02/01/2022 / 07/31/2022
Description
Description:

The successful candidates (2) will join the Enterprise Risk Analytics (ERA) team within Enterprise Risk Management (ERM). ERM, a part of Independent Risk Management, is responsible for enterprise-level risk identification, risk appetite and limits, risk analytics, and risk frameworks and policies. ERA provides analytical support to ERM and owns enterprise-level stress loss, risk capital, risk-based performance metrics. ERA develops and implements tools and models; interprets CCAR, enterprise-level stress testing, risk capital, and risk-based performance results; executes tactical stress tests and other analyses; engages with stakeholders to apply stress testing and other ERA metrics consistently throughout the organisation; and sponsors the development of additional and enhanced enterprise-level risk models to support capital and strategic planning, risk identification and limits, and franchise and transaction evaluation. These particular roles (2), based in New York, will work on a 6-month project with two main objectives: a) harmonization of existing lower-level risk limits and metrics with newly introduced top-of-house risk limits and metrics; b) implementation of an enhanced earnings metrics in line with Client's risk appetite. The work products will include interim and target-state methodology documentation and roadmap, supporting quantitative analyses, e.g., metrics and limit utilization over time; prototype calculators and enterprise workflows. These temporary roles offer the opportunity to transition into full-time roles within ERA, if that proves desirable to both sides.
Job description
The core activities of this half-year project are to:-
- Propose, justify, and document the methodology for harmonizing existing lower-level risk limits and metrics with newly introduced top-of-house risk limits and metrics
- Propose, justify, and document the methodology for an enhanced earnings metric in line with Client's risk appetite
- Build calculators and enterprise workflows to prototype these methodologies, including sourcing and validating required inputs
- Conduct quantitative analyses to support the socialisation and review and challenge of these methodologies with key stakeholders
- Map out a roadmap for ongoing enhancement of these metrics, e.g., improved accuracy, more frequent and faster recalculations
Qualifications
· Advanced degree in Economics, Finance, or another quantitative field (Mathematics, Statistics, Physics, Computer Science, etc.) is required
· 10+ years of experience in financial services sector, in roles requiring superior problem-solving analytical capabilities
· Expertise or experience in several of the following areas:-
o Comprehensive Capital Analysis and Review (CCAR) methodologies
o Enterprise-wide stress testing and economic capital methodologies: retail and wholesale (incl. counterparty) credit risk, market risk, operational risk, asset and liability management risk, pension liability risk
o Quantitative pre-provision net revenue (PPNR) forecasting methodologies
o Enterprise risk management (ERM) frameworks, risk identification, risk appetite statements, risk-based performance metrics (e.g., RAROC)
Skills
· Python, SQL, and familiarity with modern software development tools
· Workflow management, business intelligence, and collaboration software, especially in ERM setting, is advantageous
· Exceptional writing skills, with ability to synthesise complex technical information
· Strong project management skills, with ability to build relationships confidently at all levels
Personal traits
· Highly motivated, with ability to work both independently and collaboratively
· Logical and thoughtful approach to work, with ability to perform well under pressure to meet tight deadlines
· Giving careful attention to detail, whilst also considering bigger picture and wider implications
· Capable of delivering high quality results, with challenging but positive influencing style
What's on Offer?
The successful candidates will have the opportunity to work on a wide range of analytical topics relevant for senior management decision making (CRO, CFO, Board) and regulatory management. They will interact confidently with quantitative analyst and risk management professionals across multiple risk stripes and geographies, and in so doing gain an expansive view of the firm.

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