Hedge Fund Counterparty Risk Officer - Risks - London, United Kingdom

Job Description

Description of the Business Line or Department OUR CULTURE At Société Générale, we live by our 4 core values of commitment, responsibility, team spirit and innovation. We are engaged and demonstrate consideration for others. We act ethically and with courage. We focus our talent and energy on collective success. Weexperiment and propose new ideas, to maximize our ability to serve client needs and anticipate market changes. Société Générale is committed to strengthening bonds with colleagues, communities, and the world in which we live, because relationships are at theheart of how we operate. DIVERSITY, EQUITY & INCLUSION Our Diversity, Equity & Inclusion Mission: recruit, develop, advance, and retain a diverse workforce that is united in our efforts to enhance our competitive position and deliver innovative solutions to our clients. Our Diversity, Equity & Inclusion Vision: Engaged workforce that is demographically diverse in a way that reflects the communities in which we operate. Inclusive culture and workplace that recognizes employees unique needs and utilizes their diverse talents. Engage our community and marketplace and position the organization to meet the needs of all its clients. RISK DIVISION (RISQ) Risk Management in the UK is organised along a three lines of defence model with well-defined and segregated responsibilities aligned with the Group framework as well as applicable local regulatory requirements and guidance. RISQ is part of the 2nd line ofdefence and aims to independently analyse, challenge, opine on and monitor the risk-taking activities of the Business Lines thereby enabling effective execution of the Banks strategy in line with its risk appetite. Within the RISQ Department, the role of RISQ/RMA/HPC provides LOD2 counterparty risk management for hedge funds, mutual funds, proprietary trading groups (PTG) and CCP counterparties. In particular, it performs risk assessment (including due diligence), mitigation,approval, and monitoring processes for the core businesses at SG Group that transact with, clear for, or take collateral consisting of, hedge funds. It also defines the counterparty risk framework for managing these risks, as well as the associated limits. Summary of the key purposes of the role• The role is for a VP/Director within the RISQ RMA HPC London team. • The incumbent will be responsible for the LOD2 CCR coverage of a portfolio of hedge fund counterparties, primarily hedge funds and PTGs engaged in trading OTC and listed derivatives with SG in addition to managing the risk of financing facilities for fundsof funds and fund-linked derivatives. • The role will also require the incumbent to assist in the production and creation of regular and ad-hoc monitoring reports and analysis. • The role requires a person with strong knowledge and experience in risks associated with trading with hedge funds and mutual funds, encompassing both knowledge of the funds and all relevant products and business lines involved. • The role requires the ability to form, defend, and enforce a risk judgement based upon an independent opinion in a context that may require a rapid conclusion under pressure. This includes modifying requests from Front Office to better align transactionsto risk appetite and business appropriateness while maintaining the economic rationale for both parties to deal. Summary of responsibilitiesThe Key responsibilities in the position will include: • Assessment - Performing independent LOD2 hedge fund due diligence on a portfolio of funds assigned, including the review of relevant documentation, analysing investment and operational risks, performing background checks, arranging and attending on-site duediligence meetings and drafting well-written, cogent, due diligence documents. Opining on individual counterparty transactions and associated risks. • Mitigation - Enforcing processes and procedures designed to mitigate against losses in the event that a counterparty defaults, including negotiating credit terms of legal documents (e.g. ISDA CSA, GMRA, FIA and PB agreements) and negotiating and opining onIndependent Amounts and margin requirements. • Approval - Approving relevant credit files, limit requests, transactions and credit ratings within the incumbents own delegation (as applicable). Providing recommendations and facilitating the approval of files requiring escalation to senior management. • Monitoring - Maintaining up to date risk information and the ongoing monitoring of hedge fund performance and credit worthiness. Independent and continuous monitoring and managing risk exposures across multiple metrics in accordance with defined risk appetite.LOD2 follow-up on limit and policy breaches. • Transversal - The incumbent will also contribute to/manage/co-ordinate relevant projects, as assigned, supporting the RISQ RMA HPC key goals and roadmap. • Building and sustaining strong relationships across the organization - Manage information vertically and laterally with senior staff and team members, both within and outside of RISQ/GBR, to drive topics and ensure the efficient and effective implementationof HPCs key roles and responsibilities. • Provide support, mentoring and share knowledge with more junior team members. • Support and challenge LOD1 requests to ensure they addressed appropriately and ensure that the prudent level of risk appetite set by senior management is kept in force to protect the Banks capital. • Regulatory topics - Contributing to relevant regulator meetings, answering questions and information requests (e.g. Dear CRO/CEO letters) and contributing to the closure of any related framework upgrades. Profile requiredTECHNICAL SKILLS • Good knowledge of hedge fund industry in Europe. • Strong knowledge of hedge funds and mutual fund counterparty credit risk best practices. • Knowledge of OTC and listed derivative products and drivers of associated risks. • Knowledge of fund of hedge funds financing transaction structures would be advantageous. • Knowledge of proprietary trading groups (PTG) and their associated trading strategies would be advantageous. • Good knowledge of key regulatory (PRA, FCA, ECB) CCR expectations and requirements would be beneficial. • Advanced abilities in Excel, PowerPoint and Word. VBA, Power BI / Tableau, etc would be beneficial. SOFT SKILLS • Independent: can challenge status quo or different opinions when needed. • Fast learner: eager to grow, learn / continue