Credit Risk Analyst – Fund Specialist
Washington, DC
Full Time
Mid Level
Job Title: Credit Risk Analyst – Fund Specialist
Location: Washington, D.C.; hybrid after 90 days
Status: Full-time; Exempt
Reports to: Risk & Treasury (Located in ‘MEM’)
Direct Reports: N/A
Typical Work Hours: 8:30 a.m. to 5:00 p.m. Monday to Friday; hybrid after 90 days
Monex USA (‘MUSA’), a leader in foreign exchange (FX) and international business payments, was established in 1999 to provide corporate clients with the best foreign exchange and international payment solutions in the industry with tools to help them manage their currency exposure, improve cash flow, and leverage global market opportunities. In 2010 we joined Monex Group, one of the world’s largest commercial foreign exchange providers, to further expand our place in the global market.
Monex Europe Limited (‘MEL’) is a commercial foreign exchange (spot and MiFID 2 exempt forward contracts) provider and authorized by the Financial Conduct Authority as a payment services firm.
Monex Europe Markets Limited (MEM’) is authorized by the Financial Conduct Authority to provide foreign exchange financial instruments (FX derivatives) to professional clients. From 9 December 2019, the senior managers and certification regime (SM&CR) applied to MEM on a mandatory basis.
The Credit Risk Analyst – Fund Specialist is responsible for assisting the team to manage the counterparty credit risk exposure of the business’s clients with a specific focus on fund structures (master funds, SPVs etc.) as well as sponsor-backed corporates. In-depth knowledge of illiquid fund structures and associated debt structures is required to effectively assess the creditworthiness of potential counterparties. The role also involves negotiating collateral terms in conjunction with Front Office, monitoring credit risk indicators, exposures and limits as well as reviewing the credit quality of Monex Europe’s counterparties on a portfolio basis. The main goal is to ensure Monex Europe’s counterparty credit risk exposure is controlled and maintained within the risk appetite and limits and smooth the onboarding and margin request process for funds.
Responsibilities
Monex USA Inc. is an Equal Opportunity Employer. Diversity is valued and the company will not tolerate any form of discrimination or harassment.
Location: Washington, D.C.; hybrid after 90 days
Status: Full-time; Exempt
Reports to: Risk & Treasury (Located in ‘MEM’)
Direct Reports: N/A
Typical Work Hours: 8:30 a.m. to 5:00 p.m. Monday to Friday; hybrid after 90 days
Monex USA (‘MUSA’), a leader in foreign exchange (FX) and international business payments, was established in 1999 to provide corporate clients with the best foreign exchange and international payment solutions in the industry with tools to help them manage their currency exposure, improve cash flow, and leverage global market opportunities. In 2010 we joined Monex Group, one of the world’s largest commercial foreign exchange providers, to further expand our place in the global market.
Monex Europe Limited (‘MEL’) is a commercial foreign exchange (spot and MiFID 2 exempt forward contracts) provider and authorized by the Financial Conduct Authority as a payment services firm.
Monex Europe Markets Limited (MEM’) is authorized by the Financial Conduct Authority to provide foreign exchange financial instruments (FX derivatives) to professional clients. From 9 December 2019, the senior managers and certification regime (SM&CR) applied to MEM on a mandatory basis.
The Credit Risk Analyst – Fund Specialist is responsible for assisting the team to manage the counterparty credit risk exposure of the business’s clients with a specific focus on fund structures (master funds, SPVs etc.) as well as sponsor-backed corporates. In-depth knowledge of illiquid fund structures and associated debt structures is required to effectively assess the creditworthiness of potential counterparties. The role also involves negotiating collateral terms in conjunction with Front Office, monitoring credit risk indicators, exposures and limits as well as reviewing the credit quality of Monex Europe’s counterparties on a portfolio basis. The main goal is to ensure Monex Europe’s counterparty credit risk exposure is controlled and maintained within the risk appetite and limits and smooth the onboarding and margin request process for funds.
Responsibilities
- Providing assistance and support to the Risk team in any risk related matters, such as:
- Carrying out financial analysis on the group’s client and liquidity provider counterparties and making recommendations in line with best practice and the group’s risk appetite.
- Managing multiple margin terms requests in a timely and effective fashion, producing well-researched and accurate credit reports, and working directly with colleagues across business units and across borders to address credit requests and issues.
- Striving to drive and develop processes and procedures to limit risk and to improve credit risk management efficiency.
- Preparing margin request proposals for consideration by the client and management.
- Assisting with the preparation of any risk related documentation, including collateral agreements, ISDAs, guarantee agreements, etc.
- Monitoring credit risk exposures, such as:
- Calculating the Mark to Market value of an open position.
- Ensuring that the credit risk exposure of a client is within the risk limits.
- Monitoring and reporting a client’s initial margin and variation margin position.
- Monitoring and reporting the exposure concentration of the group’s credit portfolio.
- Escalating limit excesses appropriately to management.
- General risk-related responsibilities, such as:
- Monitoring the progress of a margin call.
- Understanding the risk policy framework in the context of the group’s overall risk appetite.
- Coordinating stress analysis on a client’s credit profile.
- Producing risk analysis and risk information reports for the management ‘s review.
- Monitoring changing market conditions that might affect the credit quality of the group’s credit risk exposure.
- Providing timely alert to the management for appropriate actions.
- Creating and implementing rules and ideas in raising the risk management standard of the business and raising the front office’s risk awareness.
- Coordinating the risk committees, including producing papers, taking minutes and following up on all action points.
- 5–7+ years of experience in a relevant field.
- A risk management and/or finance qualification, or able to demonstrate equivalent relevant experience (i.e., FCA).
- Previous experience of working within a regulated investment firm or bank.
- Strong knowledge of banking regulations.
- Strong knowledge of the regulatory environment in which an FX firm operates.
- Proven experience of analyzing credit risk portfolios with a specific focus on fund structures, sponsor-backed corporates, and associated debt structures.
- Sector knowledge should include, but not be limited to, several of the following illiquid strategies: PE, VC, real estate, credit/debt, direct lending/ABL, infrastructure, and energy.
- Demonstrable experience working in a credit risk analytics role in either a private bank or a retail bank.
- Ability to work in a dynamic business and demonstrable experience of working on a number of projects simultaneously.
- Strong analytical skills and ability to deal with large data sets.
- Strong communication skills (both verbal and written).
- Ability to work to tight deadlines and to prioritize accordingly.
- Good understanding of financial products.
- Proficient in MS Office (including Excel VBA and PowerPoint).
- Experience with databases such as FXDB (in-house).
- Familiarity with Bloomberg and Reuters.
- Bachelor's degree in Accounting, Finance, Business, or a related field; or equivalent relevant professional experience in internal audit or financial services.
- Fluency in Spanish, Dutch, French etc.
- The annual salary range is $100,000 to $120,000 based on experience with a 10% annual bonus.
- This role is potential for about 10% travel including trips to London and Toronto each year.
- Medical insurance
- Dental insurance
- Vision insurance
- Long Term Disability
- Short Term Disability
- AD&D insurance
- Commuter Benefits
- 401K & Roth
- 16 days of PTO
- Pet Insurance
Monex USA Inc. is an Equal Opportunity Employer. Diversity is valued and the company will not tolerate any form of discrimination or harassment.
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