Head of Solutions Market Risk

Published
3 April 2024
Location
London, UK

Description

Marex is a diversified global financial services platform, providing essential liquidity, market access and infrastructure services to clients in the energy, commodities and financial markets. The Group provides comprehensive breadth and depth of coverage across four core services: Market Making, Clearing, Hedging and Investment Solutions and Agency and Execution. It has a leading franchise in many major metals, energy and agricultural products, executing around 50 million trades and clearing 205 million contracts in 2022. The Group provides access to the world's major commodity markets, covering a broad range of clients that include some of the largest commodity producers, consumers and traders, banks, hedge funds and asset managers. Marex was established in 2005 but through its subsidiaries can trace its roots in the commodity markets back almost 100 years. Headquartered in London with 36 offices worldwide, the Group has over 1,800 employees across Europe, Asia and America. For more information visit www.marex.com (http://www.marex.com) We are seeking a highly skilled and experienced Senior Market Risk Manager to lead a team responsible for overseeing the market risk of the Solutions business in Marex. The Solutions business covers a number of asset classes including equity, commodity, rates, credit and FX, with derivatives from vanilla through to exotics. The successful candidate will have extensive experience in market risk management and be instrumental in developing and implementing robust systems and processes to effectively manage market risk across the business. Responsibilities: - Team Leadership: Lead and mentor a team of market risk professionals, providing guidance and direction for: - Managing market risk across the solutions business - Limit setting - Defining the Risk Appetite - Driving development of systems and processes - Supporting the business in its aims for growth - Assessing new asset classes, risks and payoffs - Assessing new business proposals - Risk Oversight: Develop and implement comprehensive risk monitoring frameworks and controls to identify, measure, and mitigate market risk exposures associated with the Solutions business. - Exotic Derivatives Expertise: Possess a deep understanding of exotic derivatives products, modelling, pricing and their market risk profiles. - Risk Assessment: Conduct regular assessments of market risk exposures, stress testing scenarios, and sensitivity analyses to assess potential impacts on the trading desk's P&L and overall financial stability. Development and maintenance of the VaR model. - Regulatory Compliance: Stay abreast of regulatory requirements and industry best practices related to market risk management, ensuring compliance with relevant regulations and guidelines. - Systems and Processes Development: In collaborate with technology and quant teams, drive change to the existing risk management systems and develop new tools and methodologies to improve risk measurement and reporting capabilities. - Communication and Reporting: Effectively communicate key risk metrics, analysis results, and recommendations to senior management, traders, and other stakeholders, both verbally and through comprehensive written reports. - Collaboration: Foster strong relationships with trading desks, risk control functions, and other stakeholders to promote a culture of risk awareness and accountability across the organization. - Continuous Improvement: Proactively identify areas for process enhancements and optimization, driving initiatives to streamline workflows, increase efficiency, and strengthen risk governance practices. Skills and Experience - Bachelor's degree in Finance, Economics, Mathematics, or a related field; advanced degree preferred. - Minimum of 8 years of experience in market risk management within a financial institution, with a focus on derivatives trading. - Strong understanding of exotic derivatives products and their associated risks, including pricing models, valuation methodologies and risks. - Proven leadership experience, with the ability to effectively manage and develop a team of risk professionals. - Excellent analytical skills, with proficiency in quantitative analysis, statistical modelling, and risk assessment techniques. - Solid understanding of regulatory requirements related to market risk management (e.g., Basel III, FRTB). - Advanced proficiency in programming languages such as Python. - Exceptional communication skills, with the ability to convey complex concepts and analysis results to both technical and non-technical audiences. - Strong interpersonal skills, with the ability to collaborate effectively across departments and influence stakeholders at all levels of the organization. If you're forging a career in this area and are looking for your next step, get in touch Marex is fully committed to being an inclusive employer and providing an inclusive and accessible recruitment process for all. We will provide reasonable adjustments to remove any disadvantage to you being considered for this role. We value the differences that a diverse workforce brings to the company. We welcome applications from candidates returning to the workforce. Also, Marex is committed to avoiding circumstances in which the appearance or possibility of conflicts of interest may exist within the hiring process. If you would like to receive any information in a different way or would like us to do anything differently to help you, please include it in your application. LI-MH1

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