Regulatory Risk Manager
A career at T. Rowe Price says you want to contribute and make a difference at a leading global investment management firm where success results from the dedication our associates have in building success for our clients. We are a growing organization of associates from diverse backgrounds, experiences, and perspectives. We take a long-term view on associates and their careers. Our associates do phenomenal work with purpose, and as a result, we provide growth opportunities through in-person and online training, management development programs, and career development on the job. If you are seeking a meaningful work experience along with a workplace culture that thrives on teamwork, we invite you to explore the opportunity to join us. POSITION PURPOSE
The primary purpose of the Risk Manager is to work within the Luxembourg Risk Management team in managing all matters related to investment and enterprise risks (including operational risk) requirements applicable to T. Rowe Price's comingled products distributed outside of the United States, including UCITS, AIFs and segregated mandates. Principal Responsibilities
- Implementing the Risk Management Procedure : To ensure T. Rowe Price (Luxembourg) Management S.à r.l. (the "Management Company") complies with regulatory requirements and internal policies for all comingled products distributed outside the United States; and to verify the consistency of each sub-fund's actual risk levels with its risk profile. This will primarily involve analyzing the daily investment risk reporting (market risk / VaR, back-testing, coverage, leverage, counterparty risk, and liquidity), performing reasonability checks, investigating any report issues detected, liaising with the Baltimore-based Investment Risk team where required and escalating any exceptions to the Conducting Officers and Portfolio Managers.
This will also involve the timely production and distribution of high-quality standard of periodic risk reports to the Conducting Officers/Executive Committee, the Board, the Portfolio Management team, clients, auditors, and regulators.
This will involve understanding regulations related to Investment Risk, improving the content and process for producing the risk reports, and working with the Investment Risk IT team to implement and change investment risk reports.
This will include responsibility for Luxembourg domiciled products (UCITS and AIFs), Hong Kong registered funds, UK OEICs, segregated mandates / accounts, Australian Trusts, etc.
- Assessing the launch of new products or share classes: This individual will be responsible for defining and maintaining the risk profile of each fund and mandate, identifying all material investment and enterprise risks (including operational risk), establishing adequate risk limits for each fund and risk identified. This will include reviewing and updating the risk disclosures in the prospectus, KIIDS, financial statements and other marketing documents.
This will include interacting with the Product and Legal teams to design new sub-funds and throughout the regulatory approval process.
This will involve effort to continue to develop and improve our risk management framework and Risk Management Procedure for our UCITS/OEICs and AIF funds.
- Participating in the global risk monitoring efforts : As part of the Enterprise Risk Management team, assist on global projects regarding regulatory and IT developments.This will involve participating collaboratively to global and international risk initiatives, framework and system improvements or risk investigations. This will include understanding the requirements laid down by different regulators.
- Performing independent oversight and risk assessments of the business activities of the Management Company and its European branches involved in marketing and distribution : The individual will be responsible for ensuring effective application of the company's risk management framework for the Operations, Legal, Compliance, Product, Marketing and Distribution functions throughout Europe, both internally delegated activities and activities carried out by external vendors.
This will involve defining the risk profile of the Management Company and its branches in line with the company's risk management framework, identifying all the risks related to their activities and setting a monitoring program. This will also include the readiness assessment of local and global projects as well as for the launch of new products and funds.
This will include involvement in the identification, documentation and reporting of all issues, the review of operational incidents logged in the tailor-made risk reporting tool, the follow-up and tracking of risk mitigation and action plans.
The participation in regular due diligence of the vendors may also be required.
- Keeping a look at the regulatory developments: This individual will also have responsibility to watch regulatory changes to ensure permanent compliance with all applicable limits.This will imply building good relationships with key group stakeholders in order to collaboratively participate in projects and working groups on risk related matters, including the implementation of new regulatory requirements, the improvement of the overall risk management framework, the models and tools used, and the reporting and escalation processes.
PERSONAL ATTRIBUTES / SKILLS / QUALIFICATIONS
- Overseeing tasks delegated within the organization as well as to third party vendors: The individual will be responsible for monitoring of the key risk indicators and ensuring the Management Company instructions are understood and implemented accordingly, reporting is carried out on a timely basis, and improvements are implemented in a reasonable timeframe.
- Bachelor's degree or equivalent in finance or a related field
- Proven relevant work experience in risk management
- Strong analytical and communication skills
- Ability to work effectively in a fast-paced environment
- Ability to work independently
- Good organization skills
- Good interpersonal skills that demonstrate the ability to work as a team and reconcile differing views
- Professional accreditation such as CFA, FRM, or PRM preferred
- Good understanding of Luxembourg and European risk management requirements and prior exposure to UCITS and AIFs
T. Rowe Price is an equal opportunity employer and values diversity of thought, gender, and race. We believe our continued success depends upon the equal treatment of all associates and applicants for employment without discrimination on the basis of race, religion, creed, colour, national origin, sex, gender, age, mental or physical disability, marital status, sexual orientation, gender identity or expression, citizenship status, military or veteran status, pregnancy, or any other classification protected by country, federal, state, or local law.