Parameta Solutions - Risk Product Engineer

Job Description

Job DescriptionThe TP ICAP Group is a world leading provider of market infrastructure. Our purpose is to provide clients with access to global financial and commodities markets, improving price discovery, liquidity, and distribution of data, through responsible and innovative solutions. Through our people and technology, we connect clients to superior liquidity and data solutions. The Group is home to a stable of premium brands. Collectively, TP ICAP is the largest interdealer broker in the world by revenue, the number one Energy & Commodities broker in the world, the worlds leading provider of OTC data, and an award winning all-to-alltrading platform. The Group operates from more than 60 offices in 27 countries. We are 5,300 people strong. We work as one to achieve our vision of being the worlds most trusted, innovative, liquidity and data solutions specialist. About Parameta Parameta Solutions, the data and analytics division of inter-broker dealer TP ICAP, is a leading global provider of OTC Market Data. From pre to post trade, their solutions help clients manage complex markets more effectively. In May 2022, the firm became an FCA authorized benchmark administrator. This license has allowed the company to take on administration of the nine TP ICAP interest rate swaps benchmarks that were previously administered by Moorgate Benchmarks. In April 2023,the firm was also approved as an ESMA authorised benchmark administrator, making it the first IDB to administer OTC benchmarks and indices across Europe AND the UK. Central to Parametas purpose is partnering with clients to create true value. The team is focussed on helping clients navigate changing market conditions, not only by providing world-class proprietary data but also the analysis and insight that will fuel theirstrategies. Role OverviewThe Risk Product Group within Parameta Solutions is actively searching for an experienced Product Director specializing in Data Consensus and Risk, with a deep understanding of the product landscape. In this role, you will become a valuable addition to a rapidlygrowing, specialized division of TP ICAP that is dedicated to delivering top-tier structuring, valuation, and risk services to our esteemed clientele. We are looking for a candidate with an extensive background in the Consensus service provider realm. Proficiency in custom derivatives term sheets, a strong grasp of industry-standard valuation models, and a comprehensive understanding of prevailing "streetpractices" for security valuation and portfolio risk analysis are essential qualifications. Experience with financial tools such as Bloomberg, Reuters, Numerix, and other derivative pricing platforms would be a significant advantage. Role Responsibilities

• Collaborate with the Head of Risk Data Products to develop solutions addressing client risk, valuation, and product control needs, in alignment with the Parameta Solutions Go to Market methodology, particularly focusing on the Clear Consensus Product.
• Support the development and enhancement of partnerships and collaborations in the realm of Parameta Solutions Risk with third-party organisations.
• Work in close cooperation with Parameta Solutions and TP ICAP Group Analytics Quantitative and Data Science teams to create top-tier solutions tailored to product and client specifications.
• Assume ownership of the expansion of Clear Consensus, encompassing defining the product and commercial strategy, drafting product requirements, collaborating with development teams and third-party entities to implement necessary developments, conductingtesting, outlining the operational model, defining and providing training to operations teams for production tasks, and offering support to customers and sales personnel for product-related inquiries.
• Collaborate closely with other Product Proposition and Implementation specialists to contribute to the design, development, and execution of innovative product ideas.
• Leverage expertise to enhance existing Data and Analytics (D&A) product offerings.
• Demonstrate expertise in cross-asset derivatives and market risk, as it is integral to this role.
• Exhibit a strong grasp of derivatives models, including market conventions, vanilla/exotic options, and market practices associated with bespoke exotic valuation and hedging.
• Proficiency in qualitatively and quantitatively assessing pricing model outputs and making necessary adjustments.
• Display exceptional written and verbal communication skills.
• Articulate ideas clearly in group presentations and when interacting with clients, whether through phone or face-to-face meetings.

Experience / CompetencesEssential

• Masters degree in a technical area (such as Math, Physics or Engineering), quantitative finance field required. PhD in mathematical finance a plus.
• Cross asset derivatives and market risk experience is essential.
• Demonstrated understanding of derivatives models including market conventions, vanilla/exotic options, and market practices regarding bespoke exotic valuation and hedging.
• Ability to articulate clearly in group presentations and in interactions with clients, via phone or face-to-face.
• Ability to qualitatively and quantitatively assess pricing model output and determine adjustments where necessary

Desired

• Excellent written and verbal communication skills.
• Proficiency with Excel and Word.
• Working knowledge of Excel, VBA, Python. Familiarity with financial libraries ( C++) and mathematical packages such as Matlab a plus.
• Ability to work in a fast-paced, complex and cross-asset environment.
• Ability to work with multiple groups across reporting lines.

Not The Perfect FitConcerned that you may not meet the criteria precisely At TP ICAP, we wholeheartedly believe in fostering inclusivity and cultivating a work environment where everyone can flourish, regardless of your personal or professional background. If you are enthusiasticabout this role but find that your experience doesnt align perfectly with every aspect of the job description, we strongly encourage you to apply. You may be the ideal candidate for this position or another opportunity within our organisation. Our dedicatedTalent Acquisition team is here to assist you in recognising how your unique skills and abilities can be a valuable contribution. Dont hesitate to take the leap and explore the possibilities. Your potential is what truly matters to us. Company StatementWe know that the best innovation happens when diverse people with diffe