VP, Global Finance Risk / Prime Services Risk

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BMO Capital Markets is a leading, full-service financial services provider. We offer corporate and investment banking, treasury management, as well as research and advisory services to clients around the world. #bmocapitalmarkets

We are looking to bring on a VP into our Global Finance Risk team, to be based out of the New York office. 

This person will be responsible for managing risk across prime, counterparty credit, and business and developing the risk framework, which includes margin risk methodologies.  The person will also collaborate across teams, including trading, credit, market risk, counterparty, and the front office to work cohesively and collaboratively to ensure all risk coverage.  They will also be responsible for stress testing and scenario analysis for the business. 

The role provides direct risk oversight of a business supporting sophisticated counterparties and structured financing activity. Responsibilities extend beyond routine monitoring and require both technical risk expertise and sound judgment.

The resource would be expected to:

• Support the counterparty and platform risk management of BMO’s cash and synthetic Prime Brokerage and Equity Delta One business lines
• Solutions-oriented client engagement throughout the lifecycle of a client
• First line of defense in risk managing credit risk and monitoring platform exposure
• Generation of key risk analytics and development of new tools to support insights and emerging risk trends
• Understanding market and credit risks within Prime products and effectively communicating to senior management and control functions
• Evolving the risk framework and other risk governance items to ensure a proper control environment and strategic platform development
• Support senior team members in responses to Regulatory inquiries and periodic requests
• Key in-business coverage for emerging counterparty risk events and crisis management
• Contributes to growing / elevating the BMO and BMO Capital Market Prime Brokerage brand with a commitment to and presence in the community
• Balances the Bank's risk appetite with the client needs in making recommendations/proposals
• Manages firm’s risk and takes action to reduce exposure in developing and delivering client strategies
• Take measured risks while protecting the bank by applying our Risk Management Framework in the execution of your role, in line with our Risk Culture and within our approved Risk Appetite, making sound and risk informed decisions that align to business strategy, protect assets, and adhere to applicable policy documents (Frameworks, Policies, Standards, Procedures and Supporting documents), laws and regulations.

Job Background / Context:

• Global platform includes Prime Brokerage and Swap offerings across US, Canada and the UK.
• Client portfolios comprise of a broad range of asset classes and investment strategies, including:  Equities (incl. Common Stock, ETFs, ADRs, MLPs, REITs), Corporates (IG & HY), Convertible Bonds, Options & Indexes
• Hedge fund and real money counterparties

Key Responsibilities:

• Daily management of client portfolio exposures and counterparty-related risk issues

• Support of operational risk and platform trade processing associated with client counterparty risks

• Participation in prospective client pitches and term negotiations, modeling commercial risk terms and constructing incentives to support strategic, risk-efficient returns growth through ongoing client dialogue

• High level of engagement with Sales, Trading and other members of the business as it relates to client management and ongoing business initiatives

• Thoughtful and complete analysis and communication of risk concerns both internally within the business and among control function partners

• Identifying and escalating emerging risks – credit, market, operational or legal – to senior management and Global Finance management.  Continuously assessing and adapting to new products and market stress events and proactively proposing risk solutions

• Facilitating new client trades and managing existing portfolio exposures to ensure that risks, primarily market-driven counterparty risk, but also documentation, legal and reputational risks are well-controlled

• Work closely with Counterparty Credit, Credit Risk Management and other key stakeholders on onboarding of new clients, implementation of margin methodology, as well as maintaining ongoing dialogue and promptly escalating issues with existing clients

• Develop strategic risk solutions, analytics and platform enhancements to help advance BMO’s competitive advantage

• Maintain a positive culture within the team by cultivating a productive and collaborative work environment

• Ensure full compliance with risk procedures and other Global Finance or Global Markets policies

Qualifications:

• B.S. – Quantitative Finance, Financial Engineering, Finance / Statistics or related discipline.
• Between 5 - 7 years of experience in Prime Finance risk or general experience with Delta One and Global Prime Finance trading
• Experience with VaR and stress testing.
• Strong data querying and quantitative analysis skills are required, knowledge of Python, SQL and AI Development tools.
• Comfort with using data querying skill set to design risk dashboards, graphic user interfaces linked to internal databases and enhanced risk reporting.
• Exposure to and strong understanding of equities products, such as Delta One, Swaps, and derivatives across all asset classes.  Experience with Synthetic Prime is a plus.
• Strong understanding of market risk and counterparty risk processes and metrics.
• Knowledge of relevant Prime financing platforms, asset types, market structure and client investment strategies.
• Experience with data infrastructure transformation, financial engineering and/or quantitative expertise in risk modeling / data analytics.
• Experience with risk decision-making authority carrying direct economic impact.
• Verbal & written communication skills - In-depth.
• Collaboration & team skills - In-depth.
• Analytical and problem solving skills - In-depth.
• Influence skills - In-depth.

Please note the base salary for this role is $260,000 USD

Salary:

Pay Type:

The above represents BMO Financial Group’s pay range and type.

Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.

BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: https://jobs.bmo.com/global/en/Total-Rewards

About Us

At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact.  We strive to help you make an impact from day one – for yourself and our customers.  We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.

To find out more visit us at http://jobs.bmo.com/us/en

BMO is proud to be an equal employment opportunity employer. We evaluate applicants without regard to race, religion, color, national origin, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, transgender status, sexual stereotypes, age, status as a protected veteran, status as an individual with a disability, or any other legally protected characteristics. We also consider applicants with criminal histories, consistent with applicable federal, state and local law.

BMO is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the employment process, please send an e-mail to [email protected] and let us know the nature of your request and your contact information.

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.