Premiere Investment Bank seeks top talent for their Operational Risk Team
Operational Risk Management and Analysis (ORMA) is an independent risk management function responsible for developing and implementing a standardized framework to identify, measure, monitor, and manage operational risk across the firm. The operational risk management discipline includes activities such as risk analytics, scenario analyses and capital calculations to determine an efficient and risk-sensitive capital amount for internal risk management and decisionmaking purposes. The analysis and reporting of firm-wide operational risk events, trends and capital exposure information are presented to senior management and the various governing bodies of the firm. ORMA works closely with business leaders to provide thought leadership around risk management with the goal of reducing the overall risk profile of the firm. This presents unique opportunities to interact with many businesses which create a diverse analytical experience from a risk measurement perspective and broad exposure to the firm’s functions. Description of the Role: ORMA is seeking a top tier quantitative professional to serve as the primary custodian of the firm’s operational risk capital model. The candidate will work closely with the ORMA team to understand the firm’s operational risk framework to ensure that the model is sufficiently robust and is aligned with department objectives. The candidate will also have the opportunity to build alternative models for benchmarking purposes and interact frequently with the firm’s model validation team. The candidate will be responsible for interacting with quantitative members of various regulatory review teams globally. Main responsibilities: • Maintain and improve the current operational risk capital model; • Enhance model documentation to ensure that it is sufficiently robust; • Build alternative models for benchmarking purposes; • Conduct model sensitivity tests, stress testing and model validation exercises; • Develop operational risk capital reports for business management and corporate governance structures; • Train ORMA team members on capital model details; • Interface with quantitative members of various regulatory review teams; • Liaise with ORMA’s technology team; and • Contribute to general operational risk functions and responsibilities Skills and experience: • Advanced degree in mathematics, physics, engineering, financial computation, or statistics; • Competence in statistical techniques and knowledge of econometrics; • Detailed understanding of model design, development, and validation concepts; • Solid grasp of financial engineering concepts including financial risk management (e.g., VaR, etc.); • Sound knowledge of Basel II Capital Accord and Advanced Measurement Approach requirements; • Programming experience with Mathematica, MatLab, C++, Visual Basic or equivalent tool sets; • Prior experience in operational risk management, credit risk management, or market risk management a plus; • 1-3 years experience in the financial services industry a plus; • Experience interacting with US or global financial services regulators a plus; • Experience working with technology teams to implement quantitative tools a plus; • Ability to work well in a team-oriented environment as well as independently; • Demonstrated advanced written and verbal communication skills; • Ability to handle confidential and sensitive information; and • Inquisitive, enthusiastic, and self-motivated.
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