Senior Analyst, Risk Management
Montreal, CA
1d ago

The Post Trade risk management team’s mandate is to ensure that all required procedures, models, systems, reporting and governance are in place so that CDS and CDCC financial risks are managed according to TMX risk appetite and policy.

TMX Post Trade’s Risk Management Team utilizes a matrix management structure to conduct first and second line of defense risk management functions for both CDS and CDCC.

The risk exposure types managed by the Post Trade Risk Team include credit risk, market risk, liquidity risk, model risk and operational risk.

To carry out its mandate, the Risk Team employs sophisticated financial risk models, validation frameworks, risk measurement and reporting systems.

The Risk Team collaborates with many internal and external stakeholders including CDS Participants and CDCC Clearing Members, our regulators and our TMX Group partners.

Since CDS and CDCC were designated as systemically important by the Bank of Canada in 2012, TMX Post Trade’s role is to ensure the integrity and stability of the markets that it supports.

It further takes the necessary actions to help ensure that the Canadian financial markets meet the G20 commitments.

Role Summary :

Reporting to the Manager Model Risk Management, the Senior Analyst, Risk Oversight is a key contributor to CDCC risk oversight activities including model validation, risk reporting and default management activities.

More specifically, the incumbent helps improve TMX Post Trade’s risk measurement, management and governance practices to ensure we maintain high risk management standards in compliance with CPSS-IOSCO Principles for Financial Market Infrastructure (PFMI’s).

The Senior Analyst also contributes actively to the development, oversight and usage of TMX Post Trade groups’ market, credit and liquidity risk management models & tools including providing effective challenge to the Risk Projects Team activities.

Key accountabilities :

  • Actively participate in the development and oversight processes for financial risk management models, systems and reports including providing effective challenge to Risk Projects Team activities.
  • Collaborate in the production of risk management measures and reports (e.g. backtesting, stress testing, sensitivity analysis).
  • Provide expert support in risk measurement and quantitative analysis related to equity, fixed income and derivatives products.
  • Participate in the onboarding and ongoing assessment of CDS and CDCC participants including annual due diligence and quarterly creditworthiness assessment.
  • Document financial risk monitoring and default management processes, and make recommendations to streamline current processes and improve efficiency.
  • Support and enhance TMX Post Trade default management preparedness including automation of default and recovery tools and execution of annual industry-wide default simulation exercises.
  • Collaborate with IT development teams (internal, external) to modernize CDS’ risk management infrastructure including Default Management capabilities enhancement.
  • Collaborate with legal teams for filings related to new rules, rule amendments, and regulatory guidance.
  • Skills and experience :

  • Master’s degree in a quantitative finance discipline such as Economics, Finance, Mathematics, Statistics or equivalent
  • Minimum 2 years of experience in the financial industry with focus on market / financial risk management in a quantitative role (e.
  • g. market, liquidity, or credit risk measurement and management).

  • Highly motivated self-starter who is flexible and thrives on working collaboratively in a goal oriented, high performance team environment.
  • Excellent quantitative and data analysis skills with ability to manage multiple tasks and meet tight timelines without compromising the integrity of information.
  • Sound knowledge of financial risk management concepts and techniques, such as Value-at-Risk.
  • Good communication skills, both written and verbal, including ability to explain, summarize, synthesize abstract financial concepts.
  • Self-confidence, positive attitude, pragmatism.
  • Strong technology and information system skills, e.g. Matlab, SQL, VBA, R.
  • Capability to develop strong relationships with the Risk Management team and other business units.
  • Ability to apply academic knowledge to business situations.
  • TMX is committed to creating and sustaining a collegial work environment in which all individuals are treated with dignity and respect and one which reflects the diversity of the community in which we operate.

    We provide accommodations for applicants and employees who require it.

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