Address
Form of workRisk Policy SME
Location: NJ/Remote
Duration: 6 months with possible contract to hire/ possible extension
Description:
Global Regulatory Policy & Advisory (‘GRPA’) is responsible for establishing CLIENT’s Group level, and certain regional level, prudential regulatory capital policies, and for advising business lines on the impact of these policies on transactions and new products. GRPA acts as a Second Line of Defence and provides technical regulatory capital support and guidance to functions and businesses on a full range of transactions and prudential regulatory capital issues, including the establishment of interpretations and governance processes to mitigate regulatory risk. GRPA also monitors new rule developments and other ongoing changes to the prudential regulatory capital landscape. GRPA covers key aspects of prudential policy, including risk weighted assets (RWAs), capital resources, Liquidity ratios, and leverage ratios, across all relevant risk areas e.g. credit risk, counterparty credit risk, securitization, market risk, etc. GRPA currently maintains a presence in key locations across Client, including the UK, Hong Kong, the US, France / EU, Mexico, and India / Middle East.
This position provides an opportunity to join the US GRPA team as a subject matter expert, with a focus on providing policy guidance on the Fundamental Review of the Trading Book (‘FRTB’) / new Market Risk capital requirements within the US Agencies’ proposed adoption of the ‘Basel III Endgame’. Specifically, the role will lead on the analysis and interpretation of FRTB in the US, with an expected emphasis on all aspects of the standardized measure, as well Trading Book / Banking boundary, and internal risk transfers. The role will be based in New York City, however qualified candidates based outside of the New York City area may be considered.
Key responsibilities of GRPA are to:
Track new policy developments and formulate Client regulatory capital policies accordingly, providing detailed, actionable guidance, distributed to a wide range of stakeholders. The US GRPA team is responsible for monitoring new developments impacting the US prudential regulatory capital regime, as administered by the US Agencies - Client, OCC, and FDIC;
Produce and review regulatory opinions on complex transactions and new products to ensure compliance with Group regulatory policies;
Provide technical support and guidance to internal colleagues across all businesses and functions;
Provide technical support on the implementation of new regulatory requirements;
Drive Client’s response to future regulatory developments and influence the external development of regulatory policy by writing public responses to new proposed standards and discussion papers;
The Market Risk Regulatory Policy Manager will be responsible for leading on the development of a full library of policy interpretations which Client out Client approach to aspects of the US FRTB rules which may be silent or ambiguous.
The successful candidate will represent a key element of Client’s Second Line of Defense, providing both guidance and challenge to senior Risk Owners. GRPA ensures timely notification of new policy changes that impact calculations of RWAs, the leverage ratio, Liquidity ratios, and capital resources, as well as any related regulatory reporting impacts, and in the case of new prudential capital rules such as FRTB, provides end-to-end policy support to facilitate implementation.
Qualification details:
Can you give me a quick overview of what your team does and why you’re looking to bring on a contractor:
New hire to deliver FRTB (Fundamental Review of Trading Book) outcomes, Team needs someone who has SME in brand new US market Risk Capital Rules. There is a new regulation proposed by US Government with a new methodology for market risk capital requirements. It would be ideal to find someone with FRTB knowledge with the ability to interpret where the rules are unclear and how it is applied. Need someone who can learn the FRTB rule text, interpret and then be able to answer questions regarding this. This person is a technician.
Someone who has an understanding of existing market risk rules would likely have the right mindset on how regulatory capital works.
What would you say are the TOP must-have skills you’re looking for: (Measurable skills, technologies, etc.)
Competitive candidates will possess the following skills and experience:
Strong technical working knowledge of the prudential regulatory capital rules relating to the calculation of regulatory capital resources, RWAs, and the leverage ratio, with an emphasis on Market Risk RWAs and Market Risk Covered Positions;
This includes technical subject matter expertise on key components of the Standardized Measure for Market Risk under US FRTB, including the Sensitives-Based Method, Standardized Default Risk, Residual Risk Add-on, Fallback Capital Requirement, Capital Add-on for Redesignations, and any Additional Supervisory Capital Requirements;
Knowledge of these concepts under US (Fed / OCC / FDIC) rules is essential. Knowledge of these concepts under Basel / Client rules, and under UK / PRA rules is highly desirable;
Knowledge of the historical / existing Market Risk capital framework under US, Client, and/or PRA rules is also desirable;
Excellent communication skills, both written and verbal, including the ability to diplomatically provide feedback on draft prudential regulation to both internal and external stakeholders;
Strong problem solving skills;
Strong Second Line of Defense control mind-set with the ability to support other control functions that are responsible for ensuring the regulatory capital requirements are followed;
Professional approach and presentation;
Ability to work and thrive across a multi-location team of technical specialists;
Professional approach and presentation, ability to manage a wide range of stakeholders including senior management across Finance, Risk, Front Office, and other areas
In depth understanding of the regulatory treatment of a broad range of financial products, particular those within CLIENT’s Markets and Securities Services business lines
Ability to act as an advisor and challenger to business lines and other control functions on all aspects of regulatory capital policy;
Ability to formulate and articulate defensible interpretations of ambiguous rule text; and
Ability to priorities competing deliverables for a broad range of stakeholders.
As an equal opportunity employer, ICONMA provides an employment environment that supports and encourages the abilities of all persons without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws.
Location: NJ/Remote
Duration: 6 months with possible contract to hire/ possible extension
Description:
Global Regulatory Policy & Advisory (‘GRPA’) is responsible for establishing CLIENT’s Group level, and certain regional level, prudential regulatory capital policies, and for advising business lines on the impact of these policies on transactions and new products. GRPA acts as a Second Line of Defence and provides technical regulatory capital support and guidance to functions and businesses on a full range of transactions and prudential regulatory capital issues, including the establishment of interpretations and governance processes to mitigate regulatory risk. GRPA also monitors new rule developments and other ongoing changes to the prudential regulatory capital landscape. GRPA covers key aspects of prudential policy, including risk weighted assets (RWAs), capital resources, Liquidity ratios, and leverage ratios, across all relevant risk areas e.g. credit risk, counterparty credit risk, securitization, market risk, etc. GRPA currently maintains a presence in key locations across Client, including the UK, Hong Kong, the US, France / EU, Mexico, and India / Middle East.
This position provides an opportunity to join the US GRPA team as a subject matter expert, with a focus on providing policy guidance on the Fundamental Review of the Trading Book (‘FRTB’) / new Market Risk capital requirements within the US Agencies’ proposed adoption of the ‘Basel III Endgame’. Specifically, the role will lead on the analysis and interpretation of FRTB in the US, with an expected emphasis on all aspects of the standardized measure, as well Trading Book / Banking boundary, and internal risk transfers. The role will be based in New York City, however qualified candidates based outside of the New York City area may be considered.
Key responsibilities of GRPA are to:
Track new policy developments and formulate Client regulatory capital policies accordingly, providing detailed, actionable guidance, distributed to a wide range of stakeholders. The US GRPA team is responsible for monitoring new developments impacting the US prudential regulatory capital regime, as administered by the US Agencies - Client, OCC, and FDIC;
Produce and review regulatory opinions on complex transactions and new products to ensure compliance with Group regulatory policies;
Provide technical support and guidance to internal colleagues across all businesses and functions;
Provide technical support on the implementation of new regulatory requirements;
Drive Client’s response to future regulatory developments and influence the external development of regulatory policy by writing public responses to new proposed standards and discussion papers;
The Market Risk Regulatory Policy Manager will be responsible for leading on the development of a full library of policy interpretations which Client out Client approach to aspects of the US FRTB rules which may be silent or ambiguous.
The successful candidate will represent a key element of Client’s Second Line of Defense, providing both guidance and challenge to senior Risk Owners. GRPA ensures timely notification of new policy changes that impact calculations of RWAs, the leverage ratio, Liquidity ratios, and capital resources, as well as any related regulatory reporting impacts, and in the case of new prudential capital rules such as FRTB, provides end-to-end policy support to facilitate implementation.
Qualification details:
Can you give me a quick overview of what your team does and why you’re looking to bring on a contractor:
New hire to deliver FRTB (Fundamental Review of Trading Book) outcomes, Team needs someone who has SME in brand new US market Risk Capital Rules. There is a new regulation proposed by US Government with a new methodology for market risk capital requirements. It would be ideal to find someone with FRTB knowledge with the ability to interpret where the rules are unclear and how it is applied. Need someone who can learn the FRTB rule text, interpret and then be able to answer questions regarding this. This person is a technician.
Someone who has an understanding of existing market risk rules would likely have the right mindset on how regulatory capital works.
What would you say are the TOP must-have skills you’re looking for: (Measurable skills, technologies, etc.)
Competitive candidates will possess the following skills and experience:
Strong technical working knowledge of the prudential regulatory capital rules relating to the calculation of regulatory capital resources, RWAs, and the leverage ratio, with an emphasis on Market Risk RWAs and Market Risk Covered Positions;
This includes technical subject matter expertise on key components of the Standardized Measure for Market Risk under US FRTB, including the Sensitives-Based Method, Standardized Default Risk, Residual Risk Add-on, Fallback Capital Requirement, Capital Add-on for Redesignations, and any Additional Supervisory Capital Requirements;
Knowledge of these concepts under US (Fed / OCC / FDIC) rules is essential. Knowledge of these concepts under Basel / Client rules, and under UK / PRA rules is highly desirable;
Knowledge of the historical / existing Market Risk capital framework under US, Client, and/or PRA rules is also desirable;
Excellent communication skills, both written and verbal, including the ability to diplomatically provide feedback on draft prudential regulation to both internal and external stakeholders;
Strong problem solving skills;
Strong Second Line of Defense control mind-set with the ability to support other control functions that are responsible for ensuring the regulatory capital requirements are followed;
Professional approach and presentation;
Ability to work and thrive across a multi-location team of technical specialists;
Professional approach and presentation, ability to manage a wide range of stakeholders including senior management across Finance, Risk, Front Office, and other areas
In depth understanding of the regulatory treatment of a broad range of financial products, particular those within CLIENT’s Markets and Securities Services business lines
Ability to act as an advisor and challenger to business lines and other control functions on all aspects of regulatory capital policy;
Ability to formulate and articulate defensible interpretations of ambiguous rule text; and
Ability to priorities competing deliverables for a broad range of stakeholders.
As an equal opportunity employer, ICONMA provides an employment environment that supports and encourages the abilities of all persons without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws.
