Position Details:      

Client: Banking      

Job Title: Volcker - BA Risk Specialist 

Location: New York, NY, Hybrid  10013

Duration: 12 Months + Possible extension  

Schedule: Basic Business Hours      

Start Date: ASAP   

Job Description: 

• Global Markets provides world-class solutions that are as diverse as the needs of the corporates, institutions, governments, and individual investors we serve in 160 countries and territories.  

• The breadth, depth, and strength of our underwriting, sales and trading, and distribution capabilities span asset classes and currencies, sectors and industries, covering a vast array of products. 

• The candidate will be a key member of Credit and Price Risk Execution in Bank Global Markets.
• The Volcker Rule Office (VRO) is a first line function which provides overall coordination and monitoring in support of Bank’s Volcker Compliance Program. Responsibilities include monitoring and maintenance of the central control framework as well as coordinating engagement with Bank’s lines of defense.  

• The VRO works closely with the Businesses, Independent Risk Management, Compliance, Legal, Finance, and others.  

• The team oversees operation of key processes and controls for the firm including the following areas: Desk structure, Desk mandates, trading / hedging strategies, products, limits, covered funds and metrics reporting to the Volcker Regulators.  

• As a member of the Volcker Rule Office, you will deliver integrated solutions supporting Bank’s global Volcker Rule compliance program among other regulatory deliverables including but not limited to Intraday market risk monitoring framework and FRTB. 

Responsibilities: 

• Ensuring the accuracy and completeness of Desk Mandate documents; 

• Acting as a SME in respect to the Volcker Rule and ensuring compliance with the relevant standards and procedures;  

• Review of newly approved products to ensure they are appropriately scoped. 

• Partner with key stakeholders to monitor changes in business activity.  

• Assess any Volcker implications and support the business in ensuring Volcker compliance requirements are met on an ongoing basis.  

• Key subject areas include but are not limited to Trading Desk Mandates and Risk Mitigating Hedging effectiveness monitoring. 

• Partner with Technology teams to develop sustainable solutions supporting the Volcker Program including enhanced controls and streamlining/automation initiatives. 

• Identify, prioritize and proactively manage dependencies, risks, exceptions and issues. 

• Coverage of specific desks leveraging the Risk Mitigating Hedging (RMH) exemption including Documentation and analysis of the desks hedging strategies alongside Market Risk Management (MRM);
• Assessment of the effectiveness of the hedging program utilizing risk reporting tools; Quarterly review and assessment with business Senior Management and MRM. 

• Variety of project work including: Assisting in the response to regulatory examinations and queries from Regulators; Assisting all business lines across Bank including Markets and other stakeholders in managing updates to their Volcker hierarchy including desk splits, mergers and closures;
• Testing and validation of system improvements; Design and implementation of controls; Partnering with audit and independent control teams to ensure compliance to the Volcker Rule. 

Qualifications: 

• Knowledge of global markets trading products and services, e.g. Fixed Income, Equity, Currencies & Commodities. 

• Understanding of Front Office trading processes and trade lifecycle within a large bank/dealer. 

• Knowledge of market risk and/or regulatory rules pertaining to risk is advantageous. 

• Experience with regulatory rules and ideally in delivering regulatory initiatives. 

• Exposure to analyzing legislative and regulatory texts and associated legal analysis. 

• Proficiency in risk management data analysis and tools is a plus. 

Skills and Competencies: 

• Strong analytical and problem-solving skills, with high attention to detail. 

• Organized, with the ability to manage multiple requests and prioritize accordingly. 

• Strong interpersonal and organizational skills to mobilize and motivate delivery in a co-operative and collaborative working environment across trading and support functions. 

• Excellent verbal and written communication skills. 

• Fluency in MS Office suite 

• Knowledge of internal Bank systems a plus. 

Education: 

• Bachelor’s/University degree. Potentially Masters degree