About the job
You will be responsible for the adequacy and effectiveness of the market risk management in QNBFS. You will have a strong technical understanding of the control of Market Risk and will assess the adequacy of the control framework, define / refine the processes to ensure that all relevant risks are adequately monitored and controlled.
You Will Provide Support For
- Definition, development and implementation of MR measurement tools, systems, processes, and reporting across QNBFS;
- Support in quantitative analysis and evaluations on market conditions, emerging risk trends and methods for relevant hedging;
- Assist in the effective net liquid capital management methods, process, and development of MR Strategy and ensure alignment to the overall QNBFS Business Strategy and GSRM guidelines;
- Support in the oversight and formulation of advice to the Senior Management on the current market making risk exposures including the related strategy for capital and liquidity management with due consideration to the macroeconomic and financial environment of capital markets.
- Assist in developing more sophisticated/ advanced methods for calculation / measurement of market risk and economic capital.
- Monitor and analyze market conditions and develop recommendations on adequate and timely mitigating actions / recommendations to reduce, diversify, or hedge these risks.
- Promote cost consciousness and efficiency and enhance productivity, to minimize cost, avoid waste, and optimize benefits for the bank
- Act within the limits of the powers delegated to the incumbent and delegate authority to the respective staff and monitor exercise of the same.
- Review MM/LP contractual agreements with regulators and clients as applicable, pertaining to the market risk impact to ensure full compliance with the legal and regulatory requirements.
- Support the Head of Risk in providing timely and accurate risk information to Risk & Management Committees, GSRM, external & internal auditors and the Compliance function as and when required.
- Support the Market Making project team in the successful implementation of the market risk framework for MM/LP activity.
- Assist in designing suitable Risk policies, procedures and controls for market making in coordination with QNB Strategic Risk Department.
- Incorporate the quantitative risk parameters including regulatory and internal pre-trade risk controls & limits into the MM/LP system.
- Introduce and manage Pre-trade and Post-trade controls and reporting encompassing Front office, Middle Office and back office process flows for new products such as securities lending and borrowing, derivatives and international markets listed instruments trading and margin trading, for LP/MM desk as well as brokerage dept. In coordination with GSRM,
- Design a limit control framework capturing all applicable risk factors and dimensions in coordination with GSRM, both within the IT system and through other monitoring mechanisms.
- Design a Value at Risk (VaR) methodology and ensure that the VaR IT system model is calibrated accordingly.
- Perform the detailed risk analytics, including the risk methodologies, risks not fully captured in VaR, trading positions, etc. and conduct the daily review and analysis of the VaR figures and other risk reports.
- Have a back testing plan to validate the models at regular intervals and take corrective actions whenever required, to provide high assurance on the risk models.
- Develop a Risks & Controls Self-Assessment (RCSA) and Key Risk Indicators (KRI) for market and liquidity risks.
- Support the Head of Risk to monitor, control, report and escalate breaches of limits and KRIs for suitable remedial actions.
- Work closely with Head of Risk and GSRM to handle and report critical market risk events and limit breaches.
- Support the framework of RCSA, KRI, Incident reporting and remediation, as appropriate, in accordance with the Operational Risk Management requirements.
- Maintaining utmost confidentiality concerning customer and internal bank information obtained during the course of business and provide such information on a need to know basis only to Senior Management of QNB, Audit and Compliance functions, and relevant Regulators.
- Bachelor’s degree university graduate preferably with a Major in Marketing, Banking, Finance, Accounting, Economics, Business Administration or Information Technology
- Prefer Equity Market Specialization & / or Professional certification such as FRM, CPA, CFA.
- At least 10 of years of relevant experience with specific focus on Market Risk and Liquidity Risk Analytics/Quantitative Methods, preferably with a highly rated international bank
- Knowledge of market risk management in GCC equity markets with prior experience in implementing Limits and Portfolio Stress Tests
- Proficiency in risk concepts, banking and financial market products/ operations/ systems, pertinent regulatory requirements and related best practices.
- Possess a hands-on working knowledge of market risk management best practices including but not limited to portfolio hedging with or without short-selling, securities lending and borrowing mechanisms etc.
- Excellent oral and written communication skills (including report writing) in English and Arabic would be a plus.
- Good interpersonal and presentation skills.
- Understanding of risk methodologies, interest rate modelling, VAR, and/or other financial risk modelling.
- Ability to work on targeted schedules and disciplined approach to follow reporting deadlines.
- Adequate knowledge of IT systems/ applications.
- Flexible team player and able to work and deliver under pressure.
Note: you will be required to attach the following:
- Resume / CV
- Copy of Passport or QID
- Copy of Education Certificate