Prime Brokerage Risk Manager
Job Description:
Risk Manager
The Prime Services Risk team is responsible for risk management of the Fidelity Capital Markets Prime Services business. The team focuses on Collateral, Market and Operational risk associated with the intraday and overnight extension of collateralized credit to clients. The team is involved in determining lending policy and continuous analysis of the risks inherent in each client’s portfolio and investment strategy. Portfolios are analyzed and evaluated daily through extensive simulation and stress analysis crafted to estimate market related risks. Additionally, the team is tasked with developing, testing, and validating strong risk models to ensure clients remain well collateralized on an ongoing basis.
The candidate will represent the firm in collaborating with business partners by articulating risk policies and procedures. Specifically, the role will include:
- Analyzing risk exposures using stress testing and scenario analyses for client trading, assessing collateral-based margin requirements.
- Daily monitoring of client portfolios and providing of commentary or market risk positions with the strive to identify material risk exposures and concentrations. Due diligence and attention to detail is critical.
- Interact regularly with Prime Services Account Managers on risk-related issues such as discussing margin changes, and with Credit Risk to review and approve new client prospects.
- Collaborate in developing a firm-wide Model Risk Management Framework.
- Monitor and analyze market trends and movements by observing market trends and estimating the significance they will have on client portfolios.
- Respond to changing market conditions by conducting ad-hoc exposure analysis across the Prime Services portfolio, often at the request of senior management and/or business partners.
- Coordinate with Technology and Product Development to improve risk system capabilities in performance, reporting, and data. In addition, work with the business to add products to the risk system and enhance margining capabilities.
The Expertise and Skills You Bring
- Bachelor’s Degree in related field (Finance or STEM based degree preferable)
- 5+ years of Relevant Risk Management experience, preferably Prime Brokerage or Institutional collateralized lending
- Strong analytical, technical and critical thinking skills
- Deep knowledge of financial markets and products
- Solid understanding of risk management, and ability to analyze portfolio strategies and risks using stress testing and scenario analyses
- Useful programming skills preferred but not required
- Excellent interpersonal, verbal and written communication skills
- You have strong analytical, problem-solving and technical skills to be deployed in your day-to-day responsibilities
- You have a strong knowledge of investment products, core brokerage experience in trading, lending, margin, financing, clearing and custody and related regulations
- You have the ability to identify inherent risks to the business (e.g. market, credit, financial, operations regulatory, technology and reputational)
- You are a self-starter able to work independently and manage time to drive initiatives from beginning to end
- You command effective written and verbal communication skills to influence decisions
- You partner with colleagues and thrive in a team environment
- You have experience in handling and resolving conflicts
- You have excellent knowledge of Excel, database queries and analytical tools and methodologies
The Value You Deliver
- Extensive experience with data analytics, stress testing, liquidity, market and operational risks
- Effectively managing multiple initiatives and responsibilities within prescribed timelines
- Ability to engage interested parties and facilitate discussions, meetings and walkthroughs of risk policy and analytics
- Driving innovation using complex data sets to identify risk, settling controls, parameters and risk methodologies
- Communicating complex issues by condensing them into a concise summary report and presentations
- Finding opportunities to improve existing risk reporting and developing new key risk indicators
Placement in the range will vary based on job responsibilities and scope, geographic location, candidate’s relevant experience, and other factors.
Base salary is only part of the total compensation package. Depending on the position and eligibility requirements, the offer package may also include bonus or other variable compensation.
We offer a wide range of benefits to meet your evolving needs and help you live your best life at work and at home. These benefits include comprehensive health care coverage and emotional well-being support, market-leading retirement, generous paid time off and parental leave, charitable giving employee match program, and educational assistance including student loan repayment, tuition reimbursement, and learning resources to develop your career. Note, the application window closes when the position is filled or unposted.
Please be advised that Fidelity’s business is governed by the provisions of the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, the Investment Company Act of 1940, ERISA, numerous state laws governing securities, investment and retirement-related financial activities and the rules and regulations of numerous self-regulatory organizations, including FINRA, among others. Those laws and regulations may restrict Fidelity from hiring and/or associating with individuals with certain Criminal Histories.
Fidelity’s hybrid working model blends the best of both onsite and offsite work experiences. Working onsite is important for our business strategy and our culture. We also value the benefits that working offsite offers associates. Most hybrid roles require associates to work onsite every other week (all business days, M-F) in a Fidelity office.