Address The ForexClear Business Risk team sits within the 1st line Risk team in ForexClear. The team is responsible for 1st level risk management and risk reporting, including monitoring of all aspect of the run of the ForexClear service.
The team is in charge of the run of the service with a high level of involvement in client queries. The team is the first point of escalation for members and clients and has the ultimate responsibility of ensuring a positive experience of LCH is provided in respect to the ForexClear service. The team works closely with all internal and external stakeholders.
The team oversees the daily schedule and trade life-cycle events such as valuation and margin run, market data validation, portfolio compression, FX fixings, FX settlement and other market operations covering the ForexClear service.
The team is global with presence in Australia and US, and is working closely with the change function to improve the existing platform, applying a Continuous Improvement and automation approach to its process and control environment.
The Business Risk team is the first line of defence against operational risk, and is responsible for the close scrutiny of key risk indicators and for highlighting emerging risk in conjunction with 2nd and 3rd line risk functions within LCH.
Role Description
This is an exciting opportunity for a Analyst to join an expanding Business Risk team, ensuring a high standard of adherence to all day to day duties set out by local and global management. Assist in the daily monitoring of the Risk in the ForexClear Service and reviewing accuracy of the risk model and requires strong data analysis skills. There are significant opportunities for exposure to senior management, the role would suit a highly motivated candidate with a strong interest in Risk Management and FX products. The role is also a highly visible across the company, working closely with broader Risk, Technology and the wider Business areas (Sales, Product, PMO, COO), and will require working closely with external partners such as CLS.
Role Responsibilities
Risk monitoring
- Continuous monitoring of risk exposures. Review of risk methodologies include initial margin model, stress testing and margin addons.
- Ensure the accuracy and effectiveness of data sources, pricing methodologies and curve building methodologies.
- Develop a strong understanding of margining and liability calculation including VaR models and FX Pricing for NDF, NDO, FWD and FXO.
- Ensure that measures of liquidity and market behaviour are in place to quantify potential risks.
- Enhancement of daily processes and MI reporting using Tableau data visualisation.
- Monitor execution of operational processes such as trade receipt, NDF trade fixings, market prices validation, margin runs and margin calls. Provide analysis and validation when required.
- Ensure that policies and procedures are applied consistently across products regardless of trade source of origin.
Operational
- Carry out and take responsibility for all aspects of the day to day monitoring of the service, escalate any deviation from the schedule .
- Execute post-execution events such as portfolio transfers and compression activity.
- Complete operational processes that are not yet automated such as trade receipt, NDF trade fixings, margin runs and margin calls and look to provide opportunities for automation.
- Analyse data from automated processes to ensure strong controls and exception monitoring in place.
Communication /Presentation Skills
- Liaise with key stakeholders (both written and oral) to ensure member/client/matcher queries are resolved in a timely fashion and to a high standard
- Present issues and explanations to management (both written and oral)
- Demo key service functionality/offerings, as well as other member/client training requests
Client Management: Internal / External
- Build and maintain strong relationships with our member and clients Assist handling queries with technology and middleware/SEF communities.
- Build strong relationship with 2nd Line Risk function.
- Escalation point for issues in the Production environment. Advise and monitor business impact resulting from an incident.
IT Systems
- Proactively monitor the performance of the ForexClear service and work with IT support on issue resolution, analyse business impact and communicate with clients.
- Participate in relevant UAT and quality gate exercises line releases in preparation for production releases
- Daily use of Murex, Middleware systems, and a range of in-house applications
- Use MS Excel / Python to streamline processes and implement tactical solutions to enhance the control framework
Projects/Non-BAU
- Partake in additional project work, to enhance the operational environment as well as support the business
- Early engagement in project deliveries following Agile methodology (Design and demo sessions)
Regulatory/Member Reporting
- Daily and Periodic Regulatory Reporting submissions, reconciliations and trouble-shooting across the jurisdictions
- Oversight of systematic processes and management of manual elements to guarantee adherence to regulatory and Member reporting SLAs
Candidate Profile / Key Skills
Working Experience
- Experience in Market Risk Management in investment bank, CCP or similar financial organisation an advantage
Education
- Degree qualified in a Business, Financial or similar and relevant discipline or equivalent
Technical Skills
- Basic understanding of FX product life cycle
- Basic understanding of Risk management techniques.
- Some knowledge of central clearing and the FX OTC bilateral market
- Excellent analytical, numerical and problem solving skills, with good attention to detail
- Ability to establish and maintain excellent relationships at all levels internally/externally
- Computational skills such as MS Excel VBA programming and Python experience
Soft Skills
- Excellent communication skills, both oral and written
- Proactive and driven
- Able to manage workload/priorities for themselves and the team, and ability to work to deadlines
- Comfortable being a key point of contact for senior management across departments and engage with Senior stakeholders
LSEG is a leading global financial markets infrastructure and data provider. Our purpose is driving financial stability, empowering economies and enabling customers to create sustainable growth.
Our purpose is the foundation on which our culture is built. Our values of Integrity, Partnership, Excellence and Change underpin our purpose and set the standard for everything we do, every day. They go to the heart of who we are and guide our decision making and everyday actions.
Working with us means that you will be part of a dynamic organisation of 25,000 people across 65 countries. However, we will value your individuality and enable you to bring your true self to work so you can help enrich our diverse workforce. You will be part of a collaborative and creative culture where we encourage new ideas and are committed to sustainability across our global business. You will experience the critical role we have in helping to re-engineer the financial ecosystem to support and drive sustainable economic growth. Together, we are aiming to achieve this growth by accelerating the just transition to net zero, enabling growth of the green economy and creating inclusive economic opportunity.
LSEG offers a range of tailored benefits and support, including healthcare, retirement planning, paid volunteering days and wellbeing initiatives.
We are proud to be an equal opportunities employer. This means that we do not discriminate on the basis of anyone’s race, religion, colour, national origin, gender, sexual orientation, gender identity, gender expression, age, marital status, veteran status, pregnancy or disability, or any other basis protected under applicable law. Conforming with applicable law, we can reasonably accommodate applicants' and employees' religious practices and beliefs, as well as mental health or physical disability needs.
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