Credit Risk Analyst – Funds

Credit Risk Analyst - Funds | Toronto

Monex is a leading global financial solutions provider, offering a complete set of tools to support business growth and strategic financial operations.

Monex Canada is a rapidly expanding premier financial services firm specializing in foreign exchange and international payment solutions. We are dedicated to empowering Canadian businesses by offering competitive exchange rates, strategic risk management, and personalized service.

Our team is committed to excellence, leveraging deep market insights and innovative technology to help our clients navigate the complexities of the global FX market.

Job Overview

As a member of the credit risk team, the Credit Risk Analyst – Fund Specialist is responsible for assisting the team to manage the counterparty credit risk exposure of the business’s clients with a specific focus on fund structures (master funds, SPVs etc) as well as sponsor-backed corporates.

In-depth knowledge of illiquid fund structures and associated debt structures is required to effectively assess the creditworthiness of potential counterparties. The role also involves negotiating collateral terms in conjunction with Front Office, monitoring credit risk indicators, exposures and limits as well as reviewing the credit quality of Monex Europe’s counterparties on a portfolio basis.

The main goal is to ensure Monex Europe’s counterparty credit risk exposure is controlled and maintained within the risk appetite and limits and smooth the onboarding and margin request process for funds.

Key Responsibilities & Accountabilities

Providing assistance and support to the Risk team in any risk related matters, such as:

• Carrying out financial analysis on the group’s client and liquidity provider counterparties and making recommendations in line with best practice and the group’s risk appetite.
• Managing multiple margin terms requests in a timely and effective fashion, producing well-researched and accurate credit reports, and working directly with colleagues across business units and across borders to address credit requests and issues.
• Striving to drive and develop processes and procedures to limit risk and to improve credit risk management efficiency.
• Preparing margin request proposals for consideration by the client and management.
• Assisting with the preparation of any risk related documentations, including collateral agreements, ISDAs, guarantee agreements, etc.

Monitoring credit risk exposures, such as:

• Calculating the Mark to Market value of an open position.
• Ensuring that the credit risk exposure of a client is within the risk limits.
• Monitoring and reporting a client’s initial margin and variation margin position.
• Monitoring and reporting the exposure concentration of the group’s credit portfolio.
• Escalating limit excesses appropriately to management.

General risk related responsibilities, such as:

• Monitoring the progress of a margin call.
• Understanding the risk policy framework in the context of the group’s overall risk appetite.
• Coordinating stress analysis on a client’s credit profile.
• Producing risk analysis and risk information reports for the management ‘s review.
• Monitoring changing market conditions that might affect the credit quality of the group’s credit risk exposure. Providing timely alert to the management for appropriate actions.
• Creating and implementing rules and ideas in raising the risk management standard of the business and raising the front office’s risk awareness.
• Coordinating the risk committees, including producing papers, taking minutes and following up on all action points.

Required Skills

• Proven experience of analysing credit risk portfolios with a specific focus on fund structures, sponsor-backed corporates, and associated debt structures. Sector knowledge should include, but not be limited to, several of the following illiquid strategies: PE, VC, real estate, credit/debt, direct lending/ABL, infrastructure, energy.
• Demonstrable experience working in a credit risk analytics role in either a private bank or a retail bank; 
• Strong technical skills, including VBA and Excel; 
• Ability to work in a dynamic business and demonstrable experience of working on a number of projects simultaneously;
• Strong analytical skills and ability to deal with large data sets;
• Strong communication skills (both verbal and written);
• Ability to work to tight deadlines and to prioritize accordingly;
• Good understanding of financial products.

Preferred Certifications

• A risk management and/or finance qualification or able to demonstrate equivalent relevant experience (i.e. FCA);
• Previous experience of working within in a regulated investment firm or Bank;
• Strong knowledge of Banking Regulations etc.;