Credit Risk Analyst

1 month ago

London, United Kingdom ClearToken Full time

Credit Risk Analyst

Central London

Type of Contract: Permanent or Short Term Contract

Reporting to: Head of Risk



ClearToken is the first clearing house for digital assets. Founded in 2021, it has rapidly received significant interest from some of the largest players in the industry. Last year, it completed a proof-of-concept demonstrating the demand and viability for a digital asset Central Counterparty (CCP) and commenced work on a fully operational system.



Summary:


ClearToken CCP is seeking a Credit Risk Analyst to sit within the first line risk team, reporting to the Head of Risk. ClearToken is being built to be a Central Counterparty (CCP) for the digital markets, offering the benefits of traditional market structure concepts of centralised clearing and settlement for emerging digital assets. We aim to remove counterparty risk across settlement and transaction processes by enabling all participants to face the CCP rather than each other. Our goal is to streamline transactions, increase capital efficiency and reduce risk.



Role Description:


This is a key role in the risk team. The aim is to develop the risk management tools and policies that will be in place for the management of credit exposure for a company forming a important piece of market infrastructure for the future of the cryptocurrency and digital asset markets. The role is in a rapidly growing company and will involve early responsibility in a close-knit, high performing team serving a dynamic, fast changing industry.


ClearToken is a start up company with a strong team culture. Successful candidates need to have a can-do attitude combined with the ability to take responsibility for projects and tasks across the wider firm.


The successful applicant would be responsible for developing the credit risk management model for a newly formed CCP. The model will need to be recalibrated as the default, liquidity and investment risk processes are updated. Key service participants, custodians, collateral issuers and critical 3rd party suppliers will need to be rated for credit risk and monitored continually.


Applicants will have strong technical experience, come from a financial background, and have experience in areas such as credit risk management, model validation, quantitative analysis, and regulatory engagement. ClearToken is a dynamic environment and being able to work closely with colleagues from other disciplines to land key commercial and regulatory goals will be vital.



Role Objectives:


This role will involve creating components of the Risk management architecture of a CCP covering. This is a role working as part of a small team and the individual would initially be responsible for:

  • Designing a credit risk management procedure which would need to include:
  • A scorecard method for initial evaluation of counterparties, custodians, issuers and 3rd party providers
  • On-site interviews with management to determine risk overlays
  • Market-based risk metrics to detect credit deterioration in real-time
  • Initiating credit risk management processes, building out the team to perform this function, and designing wrong way and concentration risk management structures.
  • Creating the associated Credit Policies, including Credit Risk Margin Add-Ons, risk mitigation procedures, etc.

This exciting position will also involve projects and activity regarding market and liquidity risk. Interaction with key stakeholders as part of regulatory applications and submissions would also be part of the role.



Qualifications and Skills:

Candidates should have:

  • A strong technical/scientific/mathematical background from either education or experience.
  • 4-6 years' experience in the finance industry / financial market infrastructure (Clearing House experience is a plus but not necessary).
  • Understanding of the following credit risk measurement/management techniques: Scorecard methods, Merton default models (EDFs), CDS Spreads, On-site credit assessments.
  • Strong interpersonal skills
  • Some IT skills; Python, Excel/VBA, Databases will all prove useful as will experience in design, creation and maintenance of credit risk models.
  • Cryptocurrency / digital asset experience would also be helpful but not vital.


Annual Compensation: £110,000 + competitive benefits package, stock option program

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