Senior Risk Analyst, Risk Architecture (24 -month contract)

Venture outside the ordinary - TMX Careers

The TMX group of companies includes leading global exchanges such as the Toronto Stock Exchange, Montreal Exchange, and numerous innovative organizations enhancing capital markets. United as a global team, we’re connecting cross-functionally, traversing industries and geographies, moving opportunity into action, advancing global economic growth, and propelling progress. Through a rich exchange of ideas, meaningful collaboration, and a nimble operating model, we're powering some of the nation's most critical systems, fueling capital formation and innovation, bringing increased opportunity to business visionaries, product ingenuity to consumers, and career exploration to our team.

Ready to be part of the action?

The TMX group of companies includes leading global exchanges such as the Toronto Stock Exchange and the Montreal Exchange, and numerous innovative organizations enhancing capital markets, such as the Canadian Depository for Securities (CDS) and the Canadian Derivatives Clearing Corporation (CDCC).
As a member of the Cleared Equity Total Return Swap (TRS) project team, you will design and operationalize CDCC’s margin models and associated backtesting, sensitivity analysis and stress testing systems. Drawing on their expertise, you will find practical solutions to Equity TRS exposure margining scenarios and documents margin system requirements for third party system vendors. Using your direct equity TRS product knowledge, you will design and build complex financial risk model prototypes and testing systems for equity TRS base initial margin and margin add-ons (e.g. for market liquidity risk, settlement risk etc). You will assess models’ performance in provisioning for market, credit and liquidity risk exposures using backtesting and sensitivity analysis techniques. You will also develop systems to measure and monitor CDCC’s sufficiency of margin and liquidity resources to meet its risk exposures from cleared Equity Total Return Swaps.

Key Accountabilities:

• Develop and validate models used to calculate required margin, clearing fund and liquidity resources for equity TRS

• Design, and operationalize automated User Acceptance Testing programs for Equity TRS vendor system

  • margin model functionality

  • model backtesting & sensitivity analysis tools

  • online margin calculator tools

  • Stress testing

• Provide expert support in risk measurement, and qualitative and quantitative analysis related to equity TRS product and related hedges and underlying assets Designs, develops and maintains user-friendly, efficient applications for users by demonstrating the inherent functionalities of Matlab and SQL or by using other programming languages such as Visual Basic or other utilities when applicable

• Present solutions and quantitative results to senior Equity TRS project team members, Regulators and CDCC Clearing Members

• Developing and maintaining positive relationships with project team members, business partners (Operations, Legal, IT) to collaborate on projects that relate to risk management

• Documents procedures for financial risk processes, and makes recommendations to automate current processes and improve efficiency

• Collaborate with legal teams for filings related to new rules, rule amendments, and regulatory guidance

• Communicate, escalate, and update stakeholders on various topics (issues, action plans, etc.)

Must haves:

• A Bachelor/Master’s degree in finance, financial engineering, statistics, or the equivalent

• 3-5 years of advanced programming experience in MATLAB or Python

• 1-3 years of previous work experience in equity TRS

• Minimum 3 years of experience in the financial industry with a focus on capital markets and financial risk management in a quantitative role (e.g. market, liquidity, or credit risk measurement and management) dealing directly with equity TRS products and/or Prime Brokerage or Hedge Fund activities in equities asset class

• Excellent quantitative and data analysis skills with the ability to manage multiple tasks and meet tight timelines without compromising the integrity of information

• Experience managing Equity TRS trading book risk and understanding of market structures, liquidity flows and regulatory changes

• Sound knowledge of financial risk management concepts and techniques, such as various Value-at-Risk measures,

• Relevant risk management experience in fixed income, structured products or derivatives preferred

• Self-starter who is proactive and capable of working independently

• Strong interpersonal skills and work well in a team environment

• Ability to reflect, summarize, and present complex ideas

Nice to haves:

• Working towards FRM (Financial Risk Manager from GARP) or/and PRM (Professional Risk Manager from PRMIA)

• Enrolment in CFA (Chartered Financial Analyst) program

In the market for…

Excitement - Explore emerging technology and innovation, as well as ventures and digital finance that shape the future of global markets! Experience the movement of the market while grounded in the stability of close to 200 years of success.

Connection - With site hubs in some of the world’s most multicultural cities, we leverage our size and structure to create rich connections and belonging while experiencing powerful global impact through our work.

Impact - More than a platform, we use our talents to power mission-critical systems that drive global economic advancement, innovation, and growth. As well, our employee-led Team Impact spreads social good via our giving strategy.

Wellness - From empathetic leadership to a culture of flexibility and balance, we believe wellness at work creates the maximum yield and a stronger “we”. Plus, with a cloud-first and hybrid workstyle, as well as generous time-off and leaves, we support a life well lived!

Growth - From a growth mindset in our work, to expansion in our business, TMX is home to action-takers energized by the achievement of ambitious growth.

Ready to enrich your career with impactful work, leaders who truly care, and the flexibility and programs to help you thrive as part of #TeamTMX ? Apply now.

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.