Jefferies GmbH “JEG” is a securities trading firm established in Germany and authorised by BaFin to provide Investment Banking, Equities and Fixed Income sales and trading activities to EEA-domiciled clients. JEG’s direct parent is Jefferies International Limited (JIL) which is incorporated in the UK and regulated by the Financial Conduct Authority (FCA). The JEG Market function forms part of the JEG Risk Department regionally and the Global Risk Department globally.

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Throughout our history, the one thing that has remained constant is Jefferies’ steadfast commitment to our clients. We only win when our clients win isn’t just a tagline, it’s a mentality that underlies our relentless pursuit of excellence in everything we do at Jefferies.

If this sounds like the approach you’ve taken in your career, we invite you to join our team that drives positive change using a collaborative spirit of openness and curiosity. We empower you to have an impact and to grow – personally and professionally. We at Jefferies support you and seek individuals who have a winning track record of delivering innovative solutions and being a trusted partner to their clients.

Role

The role is for a Market Risk Manager to join the Risk Management team based in Frankfurt and responsible for monitoring and measuring market risk according to the Risk Policies and the overarching Risk Management Framework and in compliance with the Risk Appetite Statements of the Board. The individual interacts with Front Office daily.

The main responsibility and accountability of this role includes defining risk appetite and limits, discussing with Trading to understand and challenge positions, communicating with senior management on market developments, risks and PnL, providing inputs into new business initiatives, and overall providing expertise to the rest of the firm on market risk-related topics.

Concurrent with the Market Risk focus, the candidate will be responsible for Liquidity Risk in the entity, daily monitoring of and updates to the Liquidity risk appetite statement, as well as working closely with Treasury on liquidity stress testing.

The responsibilities will comprise BAU liquidity risk management activities, new business proposals, methodology development, including liquidity stress testing & scenario analysis and executing specific projects, which will encompass regulatory initiatives.

The individual will further work closely with regional Treasury, Risk Controllers, Risk Managers, Risk Analytics team, and other corporate functions.

Key Responsibilities

The role would initially be focused on International Rates and Corporate Financial Markets, with an additional monitoring of trades flowing through the entity, including derivatives and bespoke investment banking transactions with other Jefferies legal entities. Furthermore, there is the potential to expand to other areas of the Fixed Income and Equity business as part of the business growth plan.

Market Risks

• Oversee and manage retained risk in the entity, primarily the relevant Fixed Income portfolios in accordance with regional and Group risk policies & procedures.
• Ensure that market risks arising from the relevant Fixed Income portfolios are identified, understood, captured, reported, escalated as required and managed within risk appetite.
• Advise management in the definition and refinement of an appropriate market risk control framework, including the ongoing review and improvement of the risk appetite framework, as well as the Firm’s approach to stress testing and scenario definition.
• Perform deep dive analyses on products, trading and hedging strategies and to develop risk frameworks for new products.
• Test and onboard new risk technologies.
• Ensure frequent market risk appetite and risk limit framework reviews are aligned with regulatory capital limits where appropriate.

Legal Entity Level

• Prepare and present risk governance reports with relevant management information including the escalation of material issues to senior management, including materials for oversight committees.
• Provide support to the EMEA Liquidity function and ensure local representation for liquidity matters.
• Working closely with the New Business & Projects team to identify market and liquidity risks associated with new products and non-standard transactions and support the New Business Approval process.
• Establish and maintain highly effective working relationships with all key internal stakeholders across all levels of the organization including Global Teams.
• Develop and maintain a strong external professional network to keep abreast of external developments and ensure they are introduced to the organization as and when appropriate including attending Industry Forums.
• 5 to 7 years’ experience as a market risk manager for a financial institution.
• Track record of working successfully with traders and analysts and communicating effectively with senior management with the ability to engage with, influence and obtain support from a broad range of those stakeholders (i.e. by challenge and partner with the desk to add value to the business).
• High level of awareness of market standards for risk management and control, including hands-on practical experience;
• Excellent written and verbal communication skills with the ability to communicate effectively with stakeholders and senior management.
• Strong quantitative skills and coding experience would be a plus.
• Highly motivated individual with a passion for continued individual learning / personal development.
• Experience and working knowledge of European banking risk regulations such as MaRisk, IFR/IFP, ICAAP, ILAAP or CRR equivalents is highly desirable.
• A self-starter who takes initiative, proactively taking the lead for tasks and as a team player to achieve team objectives.
• Analysing problems, delivering solutions, and always looking for opportunities to improve to business processes.
• Fluent in spoken and written German and English.

Person Specification

The ideal candidate would have worked across different areas of market risk, ideally with some experience of fixed income and credit products and would be open to having a broad remit as opposed to specialising in just one area. Additionally, the role requires a candidate with close attention to detail around booking logic, bespoke scenario analysis and understanding of risk models.

• Educated to degree level ideally in a quantitative or finance-related discipline with good analytical skills.