Financial Risk Specialist

Job category: Credit Analysis and Risk Management

Contract: Permanent

Remuneration: Market Related

EE position: Yes

About our company

WHY JOIN THE JSE? The JSE recognises that its success and strength depend on the quality of its employees. We are committed to fostering a culture of continuous learning and high standards of performance. Our employee wellness programme is designed to encourage work-life balance for employees. We naturally seek to empower staff and encourage diversity and opportunities for all.

Introduction

To develop, implement and maintain a robust credit, liquidity, counterparty credit and market risk management infrastructure and performing critical quantitative functions to create market integrity and enable the JSE to operate the cash and derivative markets.

Business and Financial Results Delivery

• Provide strategic thinking and contributions to crafting of departmental business plan based on professional knowledge and experience, to ensure delivery of focus areas for the year in support of departmental strategy
• Apply cost effectiveness principles in planning and delivery to contribute to achievement of divisional financial targets
• Provide input into the formalisation for the divisional budget
• Develop a robust risk management plan by identifying weaknesses in the current framework, research possible solutions, quantify impact of the solution and finally make a recommendation to present to governance committees and JSE EXCO to mitigate risks
• Measure performance by identifying and managing exposures to mitigate and minimise impact to the JSE and market participants
• Develop methodologies to measure/monitor risks and to mitigate risks on a per risk basis
• Propose solutions by analysing risks using industry best practices, past experience and mathematical skills to develop a risk framework
• Assess and efficiently implement regulatory standards and requirements regarding settlement assurance
• Ens ure systems, products or projects delivered contributes to improve client/JSE service by providing input on budgets, resources required and process based on the understanding of costs, business objectives and relationship with external suppliers and stakeholder s

• Build strategic JSE / Industry/ Global network of thought leaders and relationships utilising social media, attending and presenting at conferences and training interventions.
• Manage stakeholder relationships by understanding new products, investigating risks and advising on best solutions to consistently meet client’s needs
• Build and maintain networks across the JSE and the financial market industry by seeking and providing guidance on financial instruments to gain information of new risks and engaging clients on exposures, products and trends
• Provide risk monitoring tools such as dashboards, logs and escalate if necessary

• Manage own delivery by establishing a delivery plan and setting timelines, identify obstacles to delivery and take appropriate action where required
• Deliver work consistently by identifying, monitoring, measuring managing and mitigating Market, Credit, Counter Party credit, Operational and Liquidity risk by measuring and analysing processes and exposures, come up with potential future scenarios and quantify the impact those scenarios can have on the JSE, its clearing members and clients
• Identify risks for stakeholders and the JSE by applying First - Principles and using thresholds and limits and historical information
• Develop, assess and entrench Risk Management Frameworks and regularly conduct independent evaluations thereof and propose same to the board when appropriate
• Design risk reports, conduct evaluations using exposure reports to assess levels of risk an d identify new risks and escalate when appropriate
• Propose levels of risk appetite
• Analyse results of daily risk quantification by comparing performance of model market performance against regime, quantify risk mitigation to assess whether the new mitigations need to be implemented and if so, at what stage
• Determine appropriate collateral types including risks and levels of discounting thereof
• Assess exposures and collateral placed against the exposure, reassess the exposure and calculate required collateral and report findings to the appropriate division
• Establish and monitor key risk indicators, as well as propose and implement corrective action plans to mitigate risks
• Participate in ad hoc projects by developing models and quantification procedures ensuring outputs meet business expectations
• Conduct research to keep abreast of best industry practices and regulatory changes to ensure effectiveness of the company's risk frameworks
• Establish bank capital calculations with regard to contributions to any mutualised default fund
• Propose methodologies for and establish regulatory and economic capital quantification for the JSE to ensure the solvency of the JSE
• Liaise with regulators to respond to regulatory queries, comment on draft regulations and reporting to regulators
• Supply clients with information to help them analyse and understand capital requirements by applying methodologies and make information as intuitive and explanatory as possible
• Assist with queries when clients enquire on a valuation models and initial margin calculations
• Develop models for new products to help understanding
• Assess accuracy of valuation models on a regular basis by using methodologies and established processes and procedures
• Develop various new risk methodologies, propose to relevant governance committees, document risk methodologies and implement risk methodologies after approval
• Assess new products by analysing the risk to JSE, conducting quantification on products, conducting and implementing risk mitigation methodologies, ensuring compliance with JSE
• Provide input into the new products committee by making recommendations on whether to support new product to ensure compliance with JSE.
• Make proactive recommendations to Board and Risk committee and to EXCO on capital and risk related policies, including risk appetite of the JSE to help establish complete and comprehensive risk frameworks, appetites and policies
• Design and specify new systems and processes for implementation for internal and external clients
• Degree in Risk
• Post-graduate (Honours / Masters / PhD in quantitative field and/or FRM, CFA or similar industry qualification
• 5 years risk management experience in a trading, investments quantitate or market risk environment.

Knowledge and Skills required

• Basic software applications (e.g., Outlook, Word, Excel, Access, Internet, Email)
• Divisional service offerings
• Business continuity standard
• Business principles
• Data analysis
• Decision-making process
• Industry trends
• International Standards for Professional Practice