Risk Officer (Derivatives)
Perfil do Empregador
The United Nations Secretary-General is responsible for the investment of the assets of the United Nations Joint Staff Pension Fund (UNJSPF). The Secretary-General has delegated this responsibility to the Representative of the Secretary-General for the investment of the assets of the UNJSPF (RSG). The RSG is, in turn, assisted in this function by the Office of Investment Management (OIM). OIM manages a $86+ billion multi-asset class, global investment portfolio, about 85% of which is actively managed in-house. Asset classes under management comprised of global equities, fixed income, foreign exchange, private equity, real estate, infrastructure, timber and commodities. OIM’s staff are all based in New York and come from over 30 countries. For more information, please visit OIM's website at https://oim.unjspf.org/.
This position is located in the Risk and Compliance Team of OIM. The incumbent reports to the Chief, Risk and Compliance.
Responsabilidades de Trabalho
Under the overall supervision of the Chief, Risk and Compliance, the incumbent will perform the following duties:
- Manages of risk of derivatives, TBAS and establish limits for the positions.
- Analyses of collateral requirements and daily monitoring of the positions using stress test models to estimate margin requirements.
- Ensure accurate and complete review of the risks arising from forwards, futures, TBAs and any other type of derivative
- Ensure that implementation of the derivatives project is successful supporting the risk group and oversee implementation of credit/counterparty module system.
- As an active member of the derivatives working group representing risk, provides guidance on contracts with counterparties, risk processes and procedures and other documentation in collaboration with legal, operations, investments and other teams.
- Prepare guidelines and policies related to derivative transactions.
- Establish a dashboard for the monitoring of the positions.
- Prepare risk opinions for material derivative transactions, collateral management and other related topics.
- Advice and guide on the proper processes OIM needs to follow when implementing and using derivatives as risk management tool.
- Develop or introduce internal or external methodologies to support risk assessment as appropriate
- Under the supervision of the Chief Risk and Compliance officer, produces and implements a comprehensive credit risk monitoring mechanism for the investments and provide oversight as second line of defense
- Periodically reviews derivative positions, counterparty risk and collateral requirements.
- Represents the Organization at inter-agency meetings, seminars, etc. on substantive-relative issues as instructed by the Deputy Director for Risk and Compliance Service.
- Participates in international, regional or national meetings and provide programmatic/substantive expertise on derivatives, or holds programmatic/substantive and organizational discussions with representatives of other institutions.
- Caries out other tasks as may be assigned by the Chief Risk and Compliance officer.
- Contribute to the weekly, monthly, quarterly and annual management and external reporting on the risks in the Fund.
- Mentoring, guiding, and training new team members.
- Professionalism: Knowledge and experience of investment risk measurement and derivatives. Knowledge and understanding of theories, concepts and approaches relevant to this field. Ability to identify issues, analyze and participate in the resolution of issues/problems. Ability to conduct data collection using various methods. Conceptual analytical and evaluative skills to conduct independent research and analysis, including familiarity with and experience in the use of various research sources, including electronic sources on the internet, intranet and other databases. Ability to apply judgment in the context of assignments given, plan own work and manage conflicting priorities. Shows pride in work and in achievements; demonstrates professional competence and mastery of subject matter; is conscientious and efficient in meeting commitments, observing deadlines and achieving results; is motivated by professional rather than personal concerns; shows persistence when faced with difficult problems or challenges; remains calm in stressful situations. Takes responsibility for incorporating gender perspectives and ensuring the equal participation of women and men in all areas of work.
- Teamwork: Works collaboratively with colleagues to achieve organizational goals; solicits input by genuinely valuing others’ ideas and expertise; is willing to learn from others; places team agenda before personal agenda; supports and acts in accordance with final group decision, even when such decisions may not entirely reflect own position; shares credit for team accomplishments and accepts joint responsibility for team shortcomings.
- Planning & Organizing: Develops clear goals that are consistent with agreed strategies; identifies priority activities and assignments; adjusts priorities as required; allocates appropriate amount of time and resources for completing work; foresees risks and allows for contingencies when planning; monitors and adjusts plans and actions as necessary; uses time efficiently.
- Advanced university degree (Master's or equivalent) in Business Administration (MBA), Finance, Economics, Mathematics or related field is required. A first level university degree in combination with academic qualifications and experience in investment/risk management may be accepted in lieu of the advanced degree. Additional relevant professional qualifications (e.g CFA, CQF) is desirable.Work Experience
- A minimum of seven years of progressively responsible experience working in investment management institutions is required.
- A minimum of seven years of direct experience with derivatives in an investment, or risk oversight/risk management role is required.
- Experience with computer languages such as Python, R or Risk Management/Investment platforms, such as Bloomberg or RiskMetrics is desirable.
- Experience in implementing a derivatives program is desirable.
- English and French are the working languages of the UN Secretariat. For this position, fluency in English is required. Knowledge of another UN official language is desirable.