Prime Services Risk Advisor - Vice President

Responsibilities

Day-to-Day Responsibilities :

• Portfolio Analysis, Front Office and Client Interaction
• Covers primarily Central Clearing Counterparties (CCPs), Financial Institutions, Broker Dealers, and Pension Fund.
• Supports Sales on client pitching by providing risk information with the necessary explanation on the risk measures applied to the client’s portfolio.
• Assists in due diligence meetings for prospective and existing clients. Assists the Second Line Risk / Credit if requested.
• Performs and provides analyses on :
• client strategies and trading patterns
• risks in client portfolios : market risk, liquidity and concentration risks, wrong way risk, etc.
• margin coverage relevance
• risk measurement adequacy
• balance sheet and capital usages if required.
• Identifies emerging risks (market events, client-related early warnings) and escalates to the First Line / Business senior management and the Second Line Risk / Credit.
• Participates in implementing client-specific monitoring, as required.
• Ensure clients exposures are in line with overarching frameworks.
• Ensure Front Office is trained on the Counterparty Credit Risk CCR Framework.

Risk Limits

• Proposes new limits and / or renewals of expiring limits.
• Participates in Account Closure and Renewal Processes (Trading Limits and Market Access connections).

Monitoring / Reporting & Overshoot Management

• Ensures first level monitoring of daily limits.
• Comments limit overshoots and prepares remediation plans in concert with the Front Office.
• Escalates potential client issues to the First Line / Business senior management and the Second Line Risk / Credit.
• Performs Daily, Weekly, Monthly, Quarterly and Regulatory reporting with relevant drilldowns, as needed.
• Participates in providing material to the relevant committees.
• Monitors margin disputes and aged / failed payments.
• Monitors Uncleared Margin Rule UMR exposures for bilateral clients if applicable.

CCP Risk Management

Daily Risk Management

• Monitoring CCP metrics, such as IMR and Default Fund Contribution.
• Completing CCP annual renewals.
• Develop a granular understanding of covered CCP’s margin and default fund methodologies to monitor for changes and assess possible impact to SG and our clients.
• Succinctly explain the methodologies to internal stakeholders.
• Lobby CCPs to improve their methodologies where necessary.
• Liaise with LOD2 on limit changes, renewals, and changes in methodology.

Margin Model Risk Management

• Help fulfill all the requirements of model risk management ownership including :
• Monitoring for model changes, including liaising with SG global CCP coverage on EMEA and APAC model changes.
• Ensuring our model inventory is comprehensive and up to date.
• Participate in ongoing monitoring of CCP margin model performance.
• Liaise with LOD2 on model changes, model review and ongoing monitoring.

Intraday Monitoring and End of Day Risk Reporting

• Perform first-level risk intraday monitoring, reporting and review the risks associated with prime services clients.
• Perform analysis and reporting of client daily usage against complementary limits on a T+1 basis and provide insight on client trading patterns with focus on liquidity, debits, etc.
• Conduct statistical and quantitative analysis to evaluate financial risks and perform ad-hoc quantitative analysis and stress testing of Clients' portfolios using computing software to create management and risk reports.
• Ensure RISQ and complementary limit breach resolution and / or escalation, including to Business Line management and RISQ.
• Communicate, follow up on and escalate significant risks, margin issues, limit overruns, and other concerning risk issues to RISQ, Front Office and Senior Management.
• Perform weekly, monthly and quarterly analysis and reporting as required.

Client Margining

• Defines and updates margining rules with client, under the constraints of the risk limits.
• Ensures margin levels remain adequate for the risks of the client’s portfolio.
• Ensures that margination is set up appropriately in various back office and margination systems.
• Computes or validates ad-hoc margin amounts.
• Liaises with Operations to monitor delayed payment of margin calls and escalates if appropriate.
• Responds to margining inquiries from Operations, the Second Line Risk / Credit and clients.
• Assists Sales in computing risks for a client’s portfolio.

Client Onboarding

• Provides risk opinion on new clients.
• May be requested to provide portfolio simulations for new clients, including Risk-Weighted Assets RWA impacts.
• Participates in the Legal Documentation negotiation for credit related terms.

Special projects

• Participates in projects to enhance the productivity of the team.
• Participates in projects to enhance the risk framework.
• Participates in the further development & enhancement of risk frameworks for upcoming initiatives such as Mandatory Treasury Clearing and Equity Prime Brokerage offerings.
• Automates various reporting as requested by management and senior members of the team.
• Suggests enhancements to the processes.

Profile required

Division Description :

Within Societe Generale Corporate & Investment Banking, the Global Markets Division brings together the Research, Investment and Risk Management Solutions, Execution and Clearing, Prime Services, Equities, Fixed Income, Futures and Currencies & Commodities structuring capabilities with the objective of providing investors with one integrated multi-asset market solutions team.

The business uses an advisory and innovation mindset, focused on client needs, with a global leader in financial markets engineering.

Global Markets is a leading player in derivatives, with unrivaled over the counter and listed derivatives expertise, as well as cross-asset and economic research.

Our prime services' offering is a unique combination of execution, clearing, custody and financing services.

Competencies, Skills and Qualifications :

Competencies : Required :

Required :

Analytical capability and Problem solving : Able to break down complex problems into simple manageable units, develops solutions for each unit, and integrates them back into the whole.

Can absorb ideas quickly and apply them pragmatically.

• Results oriented : participates in setting goals and meets deadlines to bring value to the team and to the First Line / Business while maintaining high quality work product and safeguarding the bank.
• Interpersonal effectiveness : is self-aware of own behavior and work style, as well as tolerant of different needs and viewpoints.

Demonstrates interest, consideration and respect in others opinions.

Communication Skills : excellent verbal, writing and presentation skills with the ability to interact with stakeholders and ability to relay complex technical concepts to both technical and non-technical audiences.

Ability to present and escalate issues to Senior Management.

• Client focused with strong advisory skills.
• Organized, detail oriented and eager to learn.

Technical Skills & Knowledge :

Required :

• Solid knowledge of financial markets, financial products and margining / risk models.
• Good knowledge of derivatives.
• Good knowledge of financial risk, margining and portfolio analysis techniques : VaR models, Stress Testing, Greeks.
• Intermediate to advanced knowledge of Excel.

Desired :

• Familiar with databases and business intelligence (e.g., Tableau, Power BI, etc.)
• Programming in Python and SQL.

Qualifications (Experience & Education) :

Required :

• Bachelor’s degree in Finance, Economics, Engineering or Mathematics.
• 5+ years in risk management, preferably in CCP risks and / or model risk management.
• Must be a self-starter and be able to operate independently in a fast-paced environment.
• Proven change management abilities.
• Strong knowledge of Equity PB and / or Fixed Income PB.

Desired :

Master’s degree.

Why join us

Business insight : OUR CULTURE :

OUR CULTURE :

If you want to know about the requirements for this role, read on for all the relevant information.

At Societe Generale, we live by our 4 core values of commitment, responsibility, team spirit and innovation. We are engaged and demonstrate consideration for others.

We act ethically and with courage. We focus our talent and energy on collective success. We experiment and propose new ideas.

This way, we maximize our ability to serve client needs and anticipate market changes. Societe Generale is committed to strengthening bonds with colleagues, communities, and the world in which we live, because relationships are at the heart of how we operate.

D&I :

Our Diversity & Inclusion Mission : Recruit, develop, advance, and retain a diverse workforce that is united in our efforts to enhance our competitive position and deliver innovative solutions to our clients.

Our Diversity & Inclusion Vision :

• Engaged workforce that is demographically diverse in a way that reflects the communities in which we operate.
• Inclusive culture and workplace that recognizes employees' unique needs and utilizes their diverse talents.
• Engage our community and marketplace, and position the organization to meet the needs of all its clients.

HYBRID WORK ENVIRONMENT :

For most positions, Societe Generale offers a hybrid work arrangement that offers employees the flexibility to work remotely, as well as on-site, in order to promote interaction and collaboration with colleagues while adhering to all SG standard protocols.

Hybrid work arrangements vary based on business area. The applicable Business lines will determine and communicate the work arrangements that best meet their business needs.

COMPENSATION & SALARY RANGE :

Base salary range does not include overtime pay, bonus and / or other benefits, where applicable. Actual base salary offer will vary based on skills and experience.

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