The Post Trade risk management team’s mandate is to ensure that all required procedures, models, systems, reporting and governance are in place so that CDS and CDCC financial risks are managed according to TMX risk appetite and policy.
TMX Post Trade’s Risk Management Team utilizes a matrix management structure to conduct first and second line of defense risk management functions for both CDS and CDCC. The risk exposure types managed by the Post Trade Risk Team include credit risk, market risk, liquidity risk, model risk and operational risk. To carry out its mandate, the Risk Team employs sophisticated financial risk models, validation frameworks, risk measurement and reporting systems. The Risk Team collaborates with many internal and external stakeholders including CDS Participants and CDCC Clearing Members, our regulators and our TMX Group partners.
Since CDS and CDCC were designated as systemically important by the Bank of Canada in 2012, TMX Post Trade’s role is to ensure the integrity and stability of the markets that it supports. It further takes the necessary actions to help ensure that the Canadian financial markets meet the G20 commitments.
Your role summary:
Reporting to the Manager – Model Risk Management, the Senior Analyst is a key contributor to CDCC risk oversight activities including model validation, risk reporting and default management activities.
More specifically, the incumbent helps improve TMX Post Trade’s risk measurement, management and governance practices to ensure we maintain high risk management standards in compliance with CPSS-IOSCO Principles for Financial Market Infrastructure (PFMI’s). The Senior Analyst also contributes actively to the development, oversight and usage of TMX Post Trade groups’ market, credit and liquidity risk management models & tools including providing effective challenge to the “Risk Projects Team” activities.
Your Key Accountabilities and Contributions:
Developing, enhancing and maintaining risk governance documents such as risk policies, framework and associated risk models.
Provide independent validation for risk models related to equity, fixed income and derivatives products.
Actively participate in the development and oversight processes for financial risk management models, systems and reports including providing effective challenge to “Risk Projects Team” activities.
Participate in the production of risk oversight measures and reports (e.g. backtesting, stress testing, sensitivity analysis).
Participate in the onboarding and ongoing assessment of CDS and CDCC participants including annual due diligence and quarterly creditworthiness assessment.
Document financial risk monitoring and default management processes, and make recommendations to streamline current processes and improve efficiency.
Support and enhance TMX Post Trade default management preparedness including automation of default and recovery tools and execution of annual industry-wide default simulation exercises.
Collaborate with IT development teams (internal, external) to modernize CDS’ risk management infrastructure including Default Management capabilities enhancement.
Collaborate with legal teams for filings related to new rules, rule amendments, and regulatory guidance.
Skills and experience:
Strong presentation and excellent oral / written communication skills; proven experience in delivering strong, well-structured presentations.
Master’s degree in a quantitative finance discipline such as Financial Engineering, Finance, Mathematics, Statistics or equivalent
Minimum 2 years of experience in the financial industry with focus on market/financial risk management (e.g. market, liquidity, or credit risk measurement and management).
Good quantitative programming skills in at least one programming language (e.g. Matlab, SQL, Python, R).
Highly motivated self-starter who is flexible and thrives on working collaboratively in a goal oriented, high performance team environment.
Ability to manage multiple tasks and meet tight timelines without compromising the integrity of information.
Sound knowledge of financial risk management concepts and techniques, such as Value-at-Risk.
Self-confidence, positive attitude, pragmatism.
Capability to develop strong relationships with the Risk Management team and other business units.
Ability to apply academic knowledge to business situations.
This role can be based out of Montreal or Toronto