Risk Manager

Recruiter
Mandara
Location
The City, UK
Salary
Competitive salary
Posted
04 May 2021
Closes
07 May 2021
Ref
2111952060
Job role
Compliance/risk
Experience level
Manager
OVERVIEW

Mandara is an independent trading company with a track record of generating significant returns. We are leaders and innovators in the financial commodity markets thriving by connecting proprietary data and technology with rigorous trading execution.

Founded in 2009, Mandara trades worldwide markets across global time-zones, through teams in London and Singapore.

Over the years we have grown organically. To embody our Strategy 2024 we want to welcome a proven Risk Manager to our team.

YOUR IMPACT

World-leading risk adjusted returns come from collaboration between risk and trading. Mandara is looking to strengthen risk discipline, improve asset allocation, diversify returns and continuously improve our performance culture.

We are looking for an experienced risk manager in commodities markets to lead the trader market risk management and middle office function reporting into the CEO. You will have experience with and will be working alongside the front office and finance departments effectively, playing a key role in the management and development of the risk and middle office function, being part of the Risk Committee, whilst being strategically involved in driving the Risk Management function, requirements and strategy as part of the company's current and future growth plans.

The person we are looking for is someone that has critical thinking, and able to apply and challenge / change our approach to risk, shape how we instil discipline, where we take risk, how we identify winners and how we optimise resources. This person will work alongside Front Office and the Leadership Team to transform the way we currently risk-take and optimise our revenue strategies across the barrel of products we trade in.

KEY RESPONSIBILITIES- surrounding trader and market risk management:
  • To be able to understand and articulate any trading strategy being used and assess its impact on current risks vs trader/market risks limits and usage of capital
  • Provide trader risk management challenge to our trading strategies, trader management on effective utilisation of capital, and monitoring against limits
  • Prepare and provide risk metrics reporting that will articulate impact of strategies on risks
  • Provide forward looking analysis on risks and capital usage against our products, markets and trading strategy
  • Monitor adherence and usage of position and VAR limits by trader, by book, by desk and the Mandara portfolio (this includes ensuring discipline, use of capital, portfolio optimisation and diversification across the firm)
  • Perform and review data cleansing (ensuring that our model has good market data at the time of entry)
  • Improve risk analytics for Company through scenario analysis and stress-testing models
  • Recommend and develop methodologies and tools for the calculation of risk measures for the commodity markets (existing and new markets for Mandara)
  • Ensure effective implementation of pricing models for valuing and risk management
  • Responsible for ongoing risk management and regular risk monitoring and ensure clearer margin, exchange margin calculations
  • Review model calibration, improvement ideas, alternative measures of risk
  • Perform scenario analysis testing on portfolio, stress testing and scenario modelling (avoiding catastrophic risk)
  • As part of Risk Committee, help steer Risk Committee to focus on macro and market risks for the company and develop and implement an overall risk framework for the Company
  • Understanding our in-house models e.g. fundamentals and quant; execution algo
  • Understand the correlation risk within the underlying markets that Mandara trade
  • Understanding our current (and future) portfolio optimisation vs limit utilisation and how that impacts risks management, reporting and monitoring.


KEY RESPONSIBILITIES -surrounding Middle Office/Product control:
  • Manage Middle Office function consisting of senior analysts (London and Singapore)
  • Accountable to ensure that all Middle Office daily and month end BAUs are performed effectively and accurately; which includes PnL preparation and reporting, T+1 recs on position, Pnl, exchange, CEM, haircut, margin reporting, AV rec etc and breaks are investigated and resolved thoroughly
  • Accountable for MO ad hoc processes such as new trader/product set ups and new broker/position/exchange limit requests.


SKILLS AND EXPERIENCE
  • Must have detailed knowledge and experience working in or leading a trader market risk management function in the commodities derivatives trading space.
  • Must have experience of middle office / product control function - able to articulate understanding of middle office / product control functions and related processes
  • Must have knowledge and demonstrated hands on experience in applying risk management concepts, including stress-testing, value-at-risk, liquidity adjusted VaR, other market and trader limits, and scenario analysis.
  • Must have oil derivatives (specifically futures and swaps) market knowledge (options, quant, power and gas, carbon trading knowledge a plus).
  • Must be able to articulate and demonstrate broad understanding, perspectives and application of risk concepts relating to market risk, liquidity risks and model risk primarily and operational risk and equity risk secondarily.
  • Must be able to communicate ideas and findings fluently in English (written and spoken).


WHAT TO EXPECT FROM MANDARA
  • A performance-focused and nurturing culture characterised by transparency, meritocracy and collaboration that produces outsized and sustainable results
  • Continuous Performance Development Reviews with feedback to improve financial outcomes for you and Mandara
  • A high-trust and high-autonomy environment
  • Attractive total compensation package including significant bonus opportunity and benefits


BENEFITS
  • Contributory pension scheme (5% from employee, 3% from company)
  • Vitality private healthcare
  • Nuffield Health gym membership
  • 25 days of annual leave + 8 UK Bank holidays
  • Company sick pay
  • Cycle to work scheme
  • Season ticket loan
  • Training budget, career development programs & access to learning
  • Wellbeing initiatives
  • Fresh fruit, breakfasts, team lunches, weekly drinks
  • Social events
  • Tradable leave
  • Remote working opportunities
  • An in-formal office environment and adjustable desks (standing or sitting position)
  • Recruitment referral bonus

Mandara is an equal opportunity employer, and we value diversity.

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