Market Risk Manager
Group Risk guides the Group in its definition and articulation of risk appetite and provides strong independent oversight and management of the Group's risk profile, as the Group fulfils its Purpose to enable our customers, colleagues and communities to thrive and pursues its Ambition to be the National Champion Bank in Ireland and selective international diversification. As the Group progresses its Strategic Priorities to Serve customers brilliantly, Transform the Bank and Grow sustainable profits the Group Risk embraces the philosophy that phenomenal customer outcomes and great risk management are intrinsically linked through culture. The Function maintains a robust risk culture, in support of the Group's strategic goals, by ensuring that the appropriate structures, systems, policies and controls are in place to provide effective management of risk. Group Risk strives to support the Group in optimising returns over the longer term through robust and value adding risk management. The Functions ambition is to ensure that Group Risk is an enduring source of strategic advantage to the Group.
Description of business unit
Group Market & Liquidity Risk (GMLR) is responsible for measuring, monitoring and reporting the Groups market risk exposure and also providing a second line role in liquidity and funding risk management. It has 3 teams Treasury & ALM Market Risk, GM Market Risk and Liquidity Risk with 16 people based in Dublin.
Within GMLR, the Market Risk GM team is specifically responsible for measurement and oversight of the traded market risk exposures in BoI Global Markets (GM). GM engages in proprietary trading in fixed interest, foreign exchange and credit markets.
Market Risk GM plays a pivotal role in creating and maintaining the appropriate analytical tools, quantitative expertise and reporting processes required in order to ensure that traded market risk is accurately measured and understood within the Group.
Purpose of the role
Ensuring the Group's traded market risk exposures are accurately measured, monitored and understood, that the analytical tools, processes and systems used by the team are adequately maintained and improved, and that the non-financial risks associated with the teams' operation are effectively managed.
- Handling work-flow of junior members of the team;
- Lead the delivery of responses to market risk related regulatory requests;
- Management of Model Risk within the team's processes;
- Lead out on the operational risk elements of the Market Risk unit's function - ensuring that outstanding strong operational risk focussed mind-set is embedded into all processes;
- Ownership of the capital elements of market risk reporting. Assist in implementation and development work on capital calculation changes (current CRR, FRTB and CVA);
- Assist in ensuring traded market risk is measured effectively across key risk classes: interest rates, FX, traded credit, and inflation;
- Contribute to the management of the traded market risk reporting processes - handle the delivery of a robust reporting process for traded market risk, including production and validation of daily reports;
- Coordinate with other teams within GMLR to ensure a consolidated approach to risk management across the team;
- Collaborate closely proactively with GM Front Office, Finance, IT and Operations to ensure robustness and appropriateness of market risk policy and governance;
- Develop more efficient an enhanced way of delivering on the team's core objectives, where required;
- Contribute to the introduction and maintenance of appropriate quantitative market risk models, including VaR, derivative valuations, and XVA measurement;
- Contribute to non-BAU projects as required e.g. Algo MR upgrade, Davy etc.
What is the opportunity?
This is an opportunity to join a dynamic and growing team and influence the Group's ability to accurately measure, supervise and control its exposure to market risk. You will be handling a diverse agenda, of maintaining and improving existing market risk measurement and valuation systems, as well as developing new quantitative models and tools.
Ways of working
Working at Bank of Ireland doesn't have to mean working in an office to have an impact. Our commitment to enabling colleagues to thrive means that depending on role type you can have choice and flexibility in where you work and live, subject to your role, customer needs and our requirements. We have a hybrid working model, with home, agile hub and office based options available. We will always list a primary location which can be where you go for in person collaboration, and a location where you can best perform your role.
Please note you must live in the jurisdiction for the business to which you are contracted.
Strong quantitative background, including third-level qualification in a mathematical or quantitative subject area.
Essential skills & experience
- High level of proficiency in MS Excel and/or VBA
- Understanding of key market risk concepts such as VaR, stress-testing and derivatives valuation models.
- Strong risk focussed mind-set!
- Good planning, organisational and time leadership skills.
- Ability to work with a team, driven to achieve a common objective.
- Excellent communication, presentation, inter-personal and relationship building skills.
- Highly motivated with an ability to work on own initiative when required.
- Strong problem solving skills, and growth mind-set.
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Bank of Ireland Group is an equal opportunities employer and is committed to fostering an inclusive workplace which values and benefits from the diversity of our workforce.
For further information, and to apply, please visit our website via the “Apply” button below.