Head of Market Risk (Relocation to Dubai)
Newcastle upon Tyne, City and Borough of Newcastle upon Tyne
Department: Treasury Risk
Reports to: Chief Risk Officer
Location: Dubai
Job Purpose: We are seeking a dynamic and experienced UK/Europe-based professional to relocate to Dubai and lead our Clients’ Market Risk Management function. As the Head of Treasury Risk, you will be responsible for ensuring adherence to regulatory standards and managing market risks and counterparty credit risks effectively. This role involves the development, implementation, and optimization of models, policies, and processes to safeguard the Bank against unexpected losses, aligning with our risk appetite.
Key Responsibilities:
1. Oversee the valuation and reporting of all derivatives portfolios, ensuring accurate monthly distributions to customers.
2. Implement market and counterparty credit risk metrics such as VaR, sensitivities (DV01 and CS01), and PFE calculations across all asset classes.
3. Develop and maintain models through back-testing of XVA, IRRBB, and other relevant risk models to ensure precision and reliability.
4. Conduct stress testing and scenario analysis for the investment and trading portfolios.
5. Perform independent price verification for bonds, FX, and interest rate products, including valuation adjustments for illiquid positions.
6. Ensure accurate calculation and reporting of market, IRRBB, and liquidity risks to Senior Management (ALCO) including stress scenarios.
7. Review and validate risk factors for new treasury products with a focus on market and counterparty credit risk.
8. Provide strategic guidance and challenge Treasury’s risk-taking strategy using stress testing and sensitivity analyses.
9. Implement regulatory requirements related to market and counterparty risk as outlined by the Central Bank of the UAE.
10. Address remediation of findings from internal audits, regulatory compliance, and mandated oversight.
11. Maintain and enhance capital models for market, counterparty, and IRRBB risks.
12. Present regular risk analysis and recommendations to ALCO concerning the bank’s risk profile.
13. Develop and maintain comprehensive policies for Treasury-related market risks, including IRRBB and Counterparty Risk.
14. Offer guidance and training to team members to promote understanding of market risk models and processes.
Communication & Working Relationships:
* Direct reporting to the Chief Risk Officer
* Active member of the Asset and Liability Committee (ALCO)
* Daily interaction with the General Manager of Treasury and regular engagements with other departmental leaders.
* External liaison primarily with IT and data vendors, as well as regulatory bodies like the UAE Central Bank.
Qualifications & Experience:
1. Master’s degree in a financial or analytical/quantitative discipline preferred.
2. Professional certifications such as PRM, CPA, CFA, etc., are advantageous.
3. Minimum of 10 years of progressive experience in a Senior Risk Management role within a leading local or international financial institution.
4. Deep understanding of Treasury products and associated risk management processes.
5. Strong command of English, both written and verbal.
6. Excellent interpersonal skills with the ability to influence and engage across all levels of the organization.
7. Advanced analytical, planning, and organization skills, with a keen attention to detail.
8. Proficient in decision-making, judgment, and problem-solving.
9. High personal integrity and commitment to ethical standards.
PLEASE NOTE: Candidates must be willing to relocate to Dubai. Relocation to Dubai will be given. Apply Now!
If you meet the qualification criteria and are ready to take on this leadership role, please apply using your latest CV/Resume.
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