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Director, Market & Liquidity Risk

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TD Bank

Sep 22

  • Job
    Full-time
    Expert Level
  • Banking & Finance
  • Dublin
  • Quick Apply

AI generated summary

  • You should have expertise in Fixed Income, Interest Rate, and Credit Markets, strong knowledge of Value-at-Risk, and experience in Operational Risk and compliance management.
  • You will oversee market and liquidity risk, develop policies, analyze trading strategies, communicate risks, mentor team members, and interact with regulators to ensure compliance and effective risk management.

Requirements

  • Recruiting for the position of Director, Market Risk Control (MRC), reporting locally to the CRO, TD Global Finance (TDGF) and functionally to the Head of MRC, Europe & Asia Region.
  • The successful candidate will be experienced in Fixed Income, Interest Rate and Credit Markets, with secondary knowledge of Money Markets and Equity Derivatives.
  • The candidate will have a thorough understanding of Value-at-Risk and Risk-Weighted-Assets measurements and the application of these methods within the capital assessment for a financial institution.
  • The candidate will also be experienced in second line oversight for business activity of a non-trading nature (investment and corporate lending portfolios), and the measurement and control of non-trading risks arising from capital markets activity.
  • Responsible for identifying and reporting Operational Risk Events in accordance with policy.
  • Responsible, along with all colleagues, to contribute in a positive way to TDGF's reputation and the management of Reputational Risk.
  • Every employee is expected and required to follow ethical practices at all times, including compliance with applicable policies, legislation and regulations and support positive interactions with TDGF's stakeholders including clients, industry bodies, industry participants, public bodies, regulators and vendors.
  • Responsible for good conduct and for contributing to the identification and management of Conduct Risk within their team and function.
  • It is your responsibility to demonstrate that you are fully aware of and adhere to internal TD Policies that relate to you, your business or other businesses for which you have any level of responsibility.
  • It is your responsibility to read, understand and comply with TD's Code of Conduct and Ethics (Code) and corresponding regulations.
  • You must act with integrity and due skill, care and diligence in carrying out your duties.
  • Your actions should always be able to satisfy high standards of scrutiny.
  • Management should be kept fully informed at all times of all Regulatory and Compliance issues.
  • You must deal with TD Management, Compliance, regulators and all control functions in an open and cooperative way and must disclose appropriately any information which TD Management, Compliance, regulators or control functions would reasonably expect to know.
  • You must ensure that you are fully aware of your management reporting lines and escalation procedures.
  • If you are a Manager/Supervisor you are also responsible for ongoing and effective supervision of the employees under your direction and ensure their adherence to regulatory requirements.
  • You will promptly report to TD Management and Compliance any violation or possible violation of such regulatory requirements identified as part of your supervisory responsibilities.
  • You must take reasonable steps to demonstrate that you exercise due skill, care and diligence in managing and/or delegating your responsibilities outlined, appropriately.
  • It is your responsibility to be fully aware of the scope of your management responsibilities.
  • The TD Policies and regulatory requirements pertaining to the business/activities you are managing.
  • The competence level of the staff, if any, reporting to you.
  • The control limits and your ability, if any, to delegate them within your business.
  • Demonstrate that you receive adequate and appropriate management reporting.

Responsibilities

  • Provide effective oversight of market risk and valuation for the global TD Securities International Fixed Income, Equity Derivatives and Money Markets trading desks operating within TDGF.
  • Provide expertise for the oversight and effective challenge of non-trading market risk across the treasury and capital markets activity of TDGF.
  • Oversee interest rate risk and credit risk in the TDGF Banking Book (IRRBB/CSBB), ensuring regulatory standards for measurement and assessment are satisfied and non-trading market risk policy frameworks remain current and effective.
  • Develop a strong independent view of current market conditions, the market risk of the desk's positions and valuation parameters of the portfolio.
  • Interact fluidly with the TDGF Front Office, including business heads and senior traders regarding trading strategies, market conditions, risk positions, liquidity, profit and loss and new initiatives.
  • Develop market risk and valuation policies for the International Fixed Income businesses and determine stress tests and scenarios that highlight key market risks.
  • Understand business strategies and provide an independent perspective on the market risk implications of strategic business decisions/reviews. Ensure that strategies are consistent with TDGF market risk appetite.
  • Analyze new product requests to ensure that market risks and valuation are well understood, and that appropriate market risk limits and controls are established.
  • Effectively communicate risk issues to all levels of the Risk Management organization, other control groups, the front office and the TDGF Executive.
  • Build talent and develop the team's skills and capabilities to achieve the team's goals and deliver business results.
  • Provide coaching, mentorship, and guidance to a team of risk professionals.
  • Provide analytical expertise for all trading market risk related activities, providing effective challenge while supporting business growth within TDGF risk appetite.
  • Maintain thorough understanding of all key risk and risk-related issues through continual review of risk reports/related data and dialogue with relevant parties. Ensure that all risks are transparent to Risk Management, Business Leaders and the TDGF Executive.
  • Develop a thorough understanding of key factors contributing to profitability, through continual review of P&L attribution. Provide weekly dashboard commentary and performance analysis with commentary linking performance to specific trading strategies, positions, market conditions and underlying risks.
  • Ensure all businesses have an appropriate policy for robust, independent valuations, and ensure ongoing suitability as market conditions, business strategies and portfolio composition change.
  • Be the primary contact for dialogue with regulators relating to market risk discussions, and maintain compliance with regulatory requirements.
  • Responsible for identifying and reporting Operational Risk Events in accordance with policy.
  • Responsible, along with all colleagues, to contribute in a positive way to TDGF's reputation and the management of Reputational Risk. Every employee is expected and required to follow ethical practices at all times, including compliance with applicable policies, legislation and regulations and support positive interactions with TDGF's stakeholders including clients, industry bodies, industry participants, public bodies, regulators and vendors.
  • Responsible for good conduct and for contributing to the identification and management of Conduct Risk within their team and function.

FAQs

What is the job title for this position?

The job title is Director, Market & Liquidity Risk.

Where is this position located?

The position is located in Dublin, Ireland.

What are the working hours for this role?

The working hours for this role are 35 hours per week.

Who will the Director report to?

The Director will report locally to the CRO, TD Global Finance (TDGF), and functionally to the Head of Market Risk Control (MRC) for the Europe & Asia Region.

What areas of expertise are required for this position?

Candidates should have experience in Fixed Income, Interest Rate, and Credit Markets, with secondary knowledge of Money Markets and Equity Derivatives.

What skills are necessary for managing the team?

The role requires strong skills in coaching, mentorship, and developing the capabilities of junior team members.

What are the main responsibilities of the Director in this role?

The main responsibilities include overseeing market risk and valuation for trading desks, providing independent market risk views, ensuring compliance with regulatory standards, and communicating risk issues effectively.

Is there support for career development and training?

Yes, there is a commitment to colleague development through regular conversations, training programs, and access to an online learning platform.

What kind of compensation is offered for this position?

The compensation is fair and equitable, with an encouragement to discuss pay details with a member of the HR team.

What are the expectations regarding compliance and ethical practices?

All employees are expected to adhere to TD's Code of Conduct and Ethics, comply with policies and regulations, and support positive interactions with stakeholders.

How does TD approach accommodations for candidates during the hiring process?

TD provides accommodations for the recruitment and interview process and encourages candidates to communicate their needs.

Who are TD's customers and how do the employees fit into the organization?

TD serves over 27 million households and businesses globally, and every colleague is considered customer-facing, integral to delivering customer experiences.

What is TD’s vision and purpose?

TD's vision is to Be the Better Bank, and its purpose is to enrich the lives of customers, communities, and colleagues.

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TD Bank

Finance
Industry
10,001+
Employees

Mission & Purpose

Headquartered in Toronto, Canada, the Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group (TD). TD had CDN$1.9 trillion in assets on July 31, 2023. TD also ranks among the world’s leading online financial services firms, with more than 16 million active online and mobile customers. TD offers a full range of financial products and services to over 27.5 million customers worldwide through four key business lines: - Canadian Personal and Commercial Banking including TD Canada Trust, Business Banking, and MBNA - U.S. Retail including TD Bank, America’s Most Convenient Bank, TD Auto Finance (U.S.), TD Wealth (U.S.) and TD’s investment in Schwab - Wealth Management & Insurance including TD Wealth (Canada), TD Direct Investing, and TD Insurance - Wholesale Banking including TD Securities and TD Cowen

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