Head of Commodity Market Risk

5 months ago

London, United Kingdom Citi Full time

The Global Commodities Market Risk team oversees the activity of the Commodities trading desks across London, Houston and Singapore, as part of the overall global Market Risk Function at Citi.

This Head of Commodity Market Risk role oversees market risk for the UK/Europe/MEA Commodity desks and will lead a team of 4 market risk managers based in London. A strong understanding of the fundamentals of the commodity markets as well as direct competitors' products and services is essential in order to contribute to the commercial objectives of the business. This position requires substantial interactions with regional and systemic regulators of the bank therefore excellent communication skills are required in order to negotiate internally, often at a senior level and externally, as it relates to interactions with regulators and more.
- The Head of Commodity Market Risk will be responsible for executing risk management strategies for the UK/Europe/MEA commodity desks.
- This roles primary function is to ensure each desk stays under the approved risk tolerance levels. Coordinate with the risk managers in the team to setup a fit for purpose risk framework to manage risks in the portfolio.
- Approve request for transactions after performing adequate risk analysis.
- Coordinate with other functions within commodities such as product control, IT, Operations etc while also maintaining contact with risk managers in other asset classes.
- This position is a direct report to the Global Head of Market risk and also functions as an integral member of the functional leadership team within UK/Europe/MEA regional management, job family and line of business.
- Responsible for measuring, monitoring and analysing the organization’s market risk exposure on a day-to-day and long-term basis for various financial products. Market risk pertains to potential loss due to market movements such as changes in Commodity prices, interest rates, equity prices, credit spreads and foreign exchange rates. Individuals monitor trading limits and are responsible for approving transactions over certain established limits. Work with traders or trading management and recommend actions to mitigate risk. Responsible for monitoring and analysing the organization’s risk exposure by understanding the risks and rewards of the Citi products. Structures solutions to mitigate risks of those products.

**Responsibilities**:

- Oversee the day to day functioning of a team of 4 market risk managers in London.
- Responsible for management of market risk across various Commodities portfolios
- Identify, monitor and analyse risks in the market specific portfolios
- Identify, examine and preserve major drivers of risk and returns, analyse trends and explain changes.
- Analyse standard loss measures, risk return metrics, and the risk appetite framework.
- Review scenario analysis to assess potential financial impact to Citi.
- Economic and regulatory risk capital concepts and analyse major drivers
- Participate in the methodology setting for VaR and review inputs/outputs of VaR as well as P&L back testing
- Consider limit exception requests, model validation requests, and permitted product requests.
- Consider market risk approval for new model validations and well as existing model revalidations.
- Monitor financial markets and understand its implications to market risk exposure.
- Develop tools for on-going portfolio reviews and produce “deep dive” analysis for senior management.
- Produce presentations (regular and ad-hoc) for senior management and regulators.
- Monitor Commodities and financial markets and understand its implications for the firm.
- Review scenario analysis to assess potential financial impact to Citi.
- Economic and regulatory risk capital concepts and analyse major drivers
- Work collaboratively with Citi business/functional line management, risk and finance groups
- Represent Citi on critical regulatory matters as required. Serves as liaison with regulatory examiners, Internal Audit, and external auditors on critical Risk issues and oversees the implementation of related remediation.
- Manage a team or multiple teams of Risk professionals. Responsible for hiring, compensation, performance appraisals, staff development, training, etc.

**Experience**:

- Subject Matter Expert in Commodity markets, various financial instruments, risk metrics, Market Risk Management, liquidity management and knowledge of inventory financing, physical and derivative products
- Ability to interact and communicate effectively with senior leaders
- Demonstrated ability to assess complex issues through root cause analysis and other analytical techniques; structure potential solutions; drive to resolution with senior stakeholders
- Ability to influence and lead people across cultures at a senior level using sound judgment and successful execution, understanding how to operate effectively across diverse businesses
- Comfort navigating complex, highly-matrixed or

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