Our client, a highly well known bank is seeking a Liquidity Risk Officer. The ideal candidate will have a reporting line directly to the US firms Head of Market Risk and will have a functional reporting line to the US CRO. The LRO will serve as a second line of defense for liquidity risk ensuring the Firm manages its liquidity in accordance with the Firm’s risk appetite and other regulatory requirements, while providing independent oversight and monitoring of the Firm’s Combined US Operations (“CUSO”) overall funding and liquidity management activities.
* Identify and escalate material risks and emerging issues as it relates to liquidity risk for CUSO.
* Provide feedback to the US CRO on the efficiency and adequacy of strategies and policies and procedures (including review of cash flow projection methodologies) established by senior management of the U.S. operations for managing the risk that the financial condition or safety and soundness of the companies Combined US Operations would be adversely affected by its inability or the market’s perception of its inability to meet its cash and collateral obligations (“liquidity risk”).
* Propose liquidity risk limits and monitor compliance with the established liquidity risk appetite.
* Provide regular reporting for the US CRO, the US Risk Advisory Committee, and the US Risk Committee on the liquidity risk profile of the firms CUSO and whether it is operating in accordance with the established liquidity risk appetite.
* Assess the impact of new business lines or products as part of the NPNA process that could have significant effect on the liquidity risk profile of the CUSO.
* Compile and review cash flows across CUSO at least quarterly (or more, often if changes in market condition or in the liquidity position, risk profile, or financial condition of the firms U.S. operations warrant), and share analysis on such cash flows with the US CRO.
* Review proposals from Treasury on their respective funding strategies and challenge as necessary prior to sharing final proposals to the US CRO.
* Approve, in conjunction with US CRO, the liquidity stress testing practices, methodologies and assumptions at least quarterly, and whenever the company materially revises its liquidity stress testing practices, methodologies or assumptions.
* Review liquidity stress testing results periodically and escalate emerging risks to US CRO;
* Implement Second Level Controls on all indicators provided by the ALM department and reporting to the US CRO and the ALCO. This includes:
* Liquidity GAP
* Liquidity Stress Tests
* Early Warning Indicators
* Regulatory Indicators (LCR, NSFR)
* Intraday Liquidity Management
* Interest Rate Risk in the Banking Book
* Review and challenge the calibration and composition of the liquidity buffer at least quarterly and share recommendations to the US CRO.
* Design and maintain a Liquidity Charter describing the roles and responsibilities of the Independent Review Function within Market Risk as well as the controls in place and ensure consistency with the Global Liquidity Charter.
* Control and report the market risks of the U.S. CIB Funding desk.
* Produce daily market risk reports.
* Analyze, understand and comment the variations of the different risk indicators on a daily basis and providing comments on main P&L and risk evolutions as well as any noticeable events on a weekly and monthly basis
* Lead all market risk projects related to the Treasury desk, and ensure timely implementation and global coordination.
* Respond to FO requests for new business set-ups via NPNA process or through instruction of one-off requests.
Desired Skills and Experience
* At least 7+ years of experience in a liquidity risk management function. Ability to absorb and understand complex regulatory documentation and translate rules into business implications.
* Leadership skills and the ability to influence management and collaborate across the organization.
* Ability to work effectively with employees at all levels within in global institution.
* Strong written and analytical skills.
* Strong quantitative and proven problem solving, planning and organizational skills.
* Ability to deliver solutions and work independently with aggressive deadlines and comfortable in navigating in a changing environment.
Please send resumes to Jack Kelly – JKelly@ComplianceSearch.com