\u3000Chief Risk Office - Hedge Fund Credit Officer, Risk Specialist - Vice President
Position Overview Details of the Division and Team:
The Sr. Hedge Fund Credit Officer will be responsible for the credit risk to Deutsche Bank's Asia Pacific hedge fund clients. He or she will have ultimate responsibility for a large portfolio of hedge funds, hybrid funds and private equity funds, spanning a broad range of investment strategies and countries.
The Credit Officer will report into the Regional Head of Hedge Funds for Europe and Asia, based in London. The team ultimately reports into the Global Head of Funds, based in New York. Hedge Fund Credit Risk Management provides credit risk management and oversight across Deutsche Bank's Global Markets division, including both franchise and prime brokerage businesses.
This role is responsible for providing specialist analysis and Risk management oversight of a specific risk type (e.g. Credit, Market, Liquidity, and Operational). They investigate risk limit threshold / breaches / near misses and prepare regular reviews of the exposure. Risk Specialists identify relevant risk mitigation actions in particular when exposures are in excess of limits or appetite and provide independent challenge to the Business / escalate where appropriate. They will make decisions and approvals based on their allocated authority level. In addition, for Credit Risk: determines risk / return ratio - and associated limit framework on client level for standard risk transactions, and assigns / approves credit ratings. In addition, for Liquidity Risk: oversees and validates the liquidity management framework applied by Treasury In addition, for Corporate Insurance: optimizes risk transfer solutions with external insurers and / or internal captive insurance companies. What we will offer you:
A healthy, engaged and well-supported workforce are better equipped to do their best work and, more importantly, enjoy their lives inside and outside the workplace. That's why we are committed to providing an environment with your development and wellbeing at its center. You can expect:
Your key responsibilities:
- Competitive Salary and non-contributory pension
- 20 days annual leave plus generous number of public holidays
- Life Assurance and Private Healthcare for you and your family
- A range of flexible benefits including retail discounts, gym benefits, wellbeing incentives
- The opportunity to support a wide ranging CSR program plus take volunteering leave days
Your skills and experience:
- Undertake initial credit due diligence for new clients by way of meetings with relevant personnel at the hedge fund manager to fully understand the investment process and strategy, risk management approach and products traded (the credit officer would be expected to run these meetings). The credit officer will then approve appropriate credit limits, margins and documentation terms on the back of their risk assessment of the hedge funds based on information gathered at the meetings and the relevant constitutional documentation provided by the client.
- Work closely with the Business to manage the pipeline of new counterparties and liaise with internal divisions, including legal, front office risk, collateral management, compliance, and/or exposure management, to assess and approve any new or complex product offerings or transactions.
- Participate in weekly meetings with CRM senior management to discuss market dynamics and their potential impact on hedge funds; Stay up-to-date on market developments affecting the hedge fund sector, e.g. regulatory issues or weakness/stress in particular markets or asset classes.
- Play a key role in the legal documentation process to ensure that appropriate credit covenants are included in legal agreements to allow Deutsche Bank to take action to close out portfolios and terminate trades in the event of a default or any credit deterioration (e.g. a sharp deterioration in performance).
- Ongoing dialogue and due diligence with clients and preparation of annual credit reviews, written reports which outline areas including the background of the fund management company, investment strategy of underlying funds, risk and liquidity management, and performance. This written report will highlight the key risks associated with each counterparty and outline the credit officer's view of the group/funds.
- Day-to-day transaction approvals, setting initial margin levels for trade requests received from sales teams across the bank, and analysis of more bespoke structured transactions.
- Manage the risk and exposures within their portfolio on an ongoing basis, using the various credit risk management and product monitoring systems within Deutsche Bank, including internal stress test information, exposure data and performance/portfolio data received on a regular basis from hedge funds.
- Work with the bank's Collateral Management team as required in order to resolve any margin/collateral issues.
- Keep up-to-date with market developments affecting the hedge fund sector, e.g. regulatory issues or weakness/stress in particular asset classes.
- Ensure compliance with Global Policies.
How we'll support you:
- Degree level education, 6+ years of relevant industry experience in managing credit risk
- Solid understanding of hedge fund sector, including expertise on a broad range of investment strategies and their associated risks
- Strong product knowledge should cover all major derivative instruments and Prime Brokerage products/services with a full understanding their respective risk characteristics. Ability to calculate and quantify transaction risk is also desirable but not essential
- Strong understanding of master trading documentation, particularly International Swaps and Derivatives Association (ISDA), Global Master Repo Agreements (GMRA), Futures and Options (F&O) and Prime Brokerage. This should include sound understanding and knowledge of the principal risk mitigating clauses employed across the industry
- Confident decision maker able to competently explain the reasoning, which supports credit decisions. Prefer a strong team player, capable of working alongside colleagues in an effort to achieve team goals as well as a strong communicator who is articulate and at ease when interacting with regulators, internal and external clients.
About us and our teams:
- Flexible working to assist you balance your personal priorities
- Coaching and support from experts in your team
- A culture of continuous learning to aid progression
- A range of flexible benefits that you can tailor to suit your needs
- Training and development to help you excel in your career
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