A leading US investment bank are seeking a Senior Director to lead their FRTB/XiNG Program. This role requires experience leading large-scale transformation programs. Moreover, it is essential that the candidate has the necessary business depth to face off with the Front Office. In particular, a knowledge of market risk management practices, processes and models, together with the full markets trade lifecycle across pricing, trading and risk management plus back office and control functions and associated infrastructure is essential. The role will see the incumbent utilising careful communication skills with C-suite level stakeholders. The position requires travel between the US and UK as you will be leading a global team.
This role encompasses two different but complementary initiatives which both have a material impact on the Markets business. These are:
- The Fundamental Review of the Trading Book (FRTB) the final rules for which have just been published by the Basel Committee and which requires a complete redesign (Front to Back) of the infrastructure for calculating Market Risk within the bank. Many of the requirements are mandatory however successful implementation will provide a major benefit to the bank’s Market Risk capital.
- XiNG - XiNG is an underlying set of standards and tools which allows the bank to deliver on the FRTB requirement but which also brings major functionality improvements to how trades are valued and revalued consistently across the bank’s landscape
As part of the overall FRTB program, the job holder will be responsible for leading multiple projects delivering business process and supporting changes.
The FRTB program requires very close partnership with everyone involved in the end to end Market Risk process and the job holder will be expected to work closely with senior stakeholders and colleagues in the front office, risk and other control functions to ensure the bank has a cost effective and robust FRTB solution.
It is anticipated that the role will have a number of resources working for them (permanent/temporary staff needing direction and supervision or consultants requiring management to deliverables).