Job Description:
Job title: Head of Market Risk and Valuation Risk - Rates
Corporate title: Managing Director
Location: London
Overview
The Chief Risk Office function has Group-wide responsibility for the management and control of all credit, market, operational, enterprise and liquidity risks and has the responsibility of continual development of methods for risk measurement, frameworks and creating a bank wide strong risk culture.
Market and Valuation Risk Management (MVRM) is part of the Chief Risk Office. MVRM is responsible for establishing and implementing the market and valuation risk management framework and the second line of defense accountability inside this framework.
MVRM is responsible for managing market or fair value risk within Deutsche Bank. MVRM carries out this responsibility in an independent and neutral way, providing a comprehensive view of market risks to Senior Management. You will ensure that Business units of the Bank optimize the risk-reward relationship and do not expose it to unacceptable losses.
Key responsibilities
As Head of Rates Market and Valuation Risk Management you will lead the second line control of market and valuation risk for the global rates business within DB.
You will ensure the control framework across market and valuation risk is operated rigorously, communicated clearly and continues to be developed, evolved and implemented in an efficient and pragmatic way as the business and external markets evolve.
You will have a high level of personal impact, interfacing directly with the various trading and Infrastructure heads across the bank and able to communicate effectively with the firm's Risk Management and Finance leadership, and with external stakeholders such as the Bank's global regulators and external auditors.
- Maintain adherence to the bank-wide, legal entity and regional Market Risk Management Frameworks across the Banking and Trading books of the Global Core Rates business
- Ensure adherence to the bank-wide Valuation Control Framework, including being accountable for an independent valuation of the Rates Fair Value balance sheet
- Drive key risks and valuation matters are communicated to trading desk heads and senior risk management team in a clear and concise manner
- Sponsor and support of key strategic and regulatory projects as they relate to Rates risk management, such as Fundamental Review of Trading Book (FRTB)
- Provide both direct management of an experienced group of staff of across US and UK, and leadership of a larger aligned team across multiple geographical locations
- Build strong relationships with the relevant heads of the trading businesses, infrastructure colleagues across the various risk disciplines and Finance and with external regulatory and audit stakeholders
- Proactively manages tough people decisions to ensure people performance is aligned with organization imperatives and needs. Addresses individual performance issues, where necessary, to drive for high performance
Skills and experience
Leadership experience, preferably within a market risk group of a large investment bank with a focus and in-depth knowledge of rates markets and products and associated valuation controls
Background in a rates market risk and valuation function preferred, but experience in Equities or Credit would be considered where you can demonstrate complex derivative product knowledge
Familiarity with fair valuation relevant International Financial Reporting Standards, accounting standards and prudent valuation capital standards is preferred, and the ability to devise creative solutions to issues as they arise while maintaining a strategic perspective
Educated to Bachelor's degree level or equivalent qualification/relevant work experience, a focus in accounting, mathematical, statistical, engineering or economics would be beneficial
Excellent leadership, organization and communication skills, with the ability to interact collaboratively with the trading staff, senior management and regulators
We strive for a culture in which we are empowered to excel together every day. This includes acting responsibly, thinking commercially, taking initiative and working collaboratively.
Together we share and celebrate the successes of our people. Together we are Deutsche Bank Group.
We welcome applications from all people and promote a positive, fair and inclusive work environment.