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Market Risk Associate - Global Credit Trading

JP Morgan

Location: Greater London

Job Type: Full time


Corporate & Investment Bank (CIB) Market Risk Management is an independent risk group, reporting to the firm’s Chief Risk Officer (CRO), which identifies, measures, monitors and controls market risk. The group forms the key interface for discussing risk issues with the trading desks but retains independent reporting lines through the Risk management chain.

Market Risk Management seeks to facilitate efficient risk/return decisions, reduce volatility in operating performance and ensure that the firm’s market risk profile is transparent to senior management, the Board of Directors and regulators.

Market Risk has teams aligned to each line of business and region, and works closely with risk colleagues in other regions, the front office, finance, quantitative research, middle office and risk reporting to ensure a complete understanding of the firm’s market risk. The successful candidate will be based in London as a member of the CIB’s Global Credit Trading & Syndicate Market Risk team.

You will be working in a cutting edge Risk Organization, utilizing a wide variety of trading analysis tools to monitor risk exposures and understand the factors that drive the profits and loss affecting the trading portfolio.

CIB Market Risk performs the following primary functions

  • Quantification of the risk of a potential loss of value in assets and liabilities due to changes in market variables, e.g. credit spreads, interest rates, equity and commodity prices
  • Ongoing monitoring and control of a business unit’s exposure to market risk through risk limits
  • Performance of stress testing and qualitative risk assessments of a business unit’s trading portfolio
  • Facilitation of efficient risk-return decisions
  • Regular dialogue with the trading businesses with respect to risk appetite, risk limits and individual large and complex transactions.

Job responsibilities

  • You will be following the global financial markets, focusing on price movements and events affecting the trading portfolio, with the goal of highlighting top risks with the trading business and the Market Risk management team
  • You will develop a deep understanding of the wide-ranging suite of financial products traded by JP Morgan and the key risks associated with them. More specifically you will be expected to develop an understanding of the Credit asset class including bonds, loans, CDS, Credit Index swaps/options, Credit ETFs and securitized products
  • You will be looking for threats and weaknesses in the risk profile and be pro-active in bringing these to the attention of the trading business and the Market Risk management team
  • You will perform scenario analysis and stress testing, conduct ad-hoc and regular risk analysis as well deep dives into various risk themes, and communicate findings
  • You will develop good working relationships with Front Office while retaining independent challenge and acting as a point person for the communication of risk appetite and limit utilizations to the trading desks will be key
  • You will liaise with other groups involved with risk taking and measurement including Sales & Marketing, Finance, and the Trading Desk heads
  • You will have the opportunity to participate in a wide range of on-going and new projects with Risk Management, Finance, Technology, Valuation, Quantitative Research, Model Review Group & Basel Groups

Required Skills, Experience and Qualifications

  • Strong academic background with a minimum Bachelor’s Degree. JPMorgan recruits from all academic disciplines
  • Experience working in a relevant financial discipline, Market Risk or Credit Risk experience an advantage
  • Deep sense of accountability and able to work independently with limited supervision
  • Lateral thinker, tenacious, commitment to getting things done and detail focused
  • Ability to balance multiple priorities and manage tight deadlines
  • Inquisitive nature with an eagerness to investigate and fully understand financial products, processes and issues
  • Fluency in English is a prerequisite along with excellent written and spoken communication skills