Overview
The Risk Analyst II / Risk Analyst III Market Risk Analyst provides independent oversight of traded markets and analyzes and reports on the bank's interest rate risk, FX risk, and trading activities. As a member of the Market Risk Oversight (MRO) team, the role sits in the second line risk management function that provides independent subject matter expertise as part of the broader Financial Risk Oversight (FRO) group within First Citizens Bank, a top 20 bank with over $200bn in assets. The role supports the development, execution and continuous improvement of First Citizens' risk identification, analytics/ modeling, reporting processes and works collaboratively within the FRO which also covers Capital and Liquidity risks, as well as with non-FRO disciplines including: Enterprise Risk, Operational Risk, Model Risk, third party, information, regulatory, and compliance.
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Responsibilities
- This position covers the full risk management life cycle to identity, assess, monitor, and manage market risk and will involve the development, execution, and reporting of data driven analysis.
Specific functions include:- Provide independent review of the Bank's balance sheet to ensure that potential market risk exposures are identified, analyzed, monitored, and managed, covering:
- Investment Portfolio
- Treasury derivative activities
- Mortgage hedging activities
- Customer facing FX and Interest Rates
- Oversight of trading desks including analysis of hedging activities and Volcker Rule compliance for foreign exchange and interest rate derivative products.
- Analyze market risks associated with investment securities such as US Treasuries, Commercial Mortgage-Backed Securities, municipal bonds, and corporates including prepayment, premium amortization, and other regulatory capital features.
- Monitor and support enhancements to Risk Appetite Framework, compliance with limits and thresholds, update to policies and regulations to ensure emerging risks are identified and to recommend actions to reduce or accept elevated risk exposure.
- As applicable, participate in formulation of remediation / implementation with respect to the regulatory matters, and work with internal auditor on open issues.
- Participate in various risk governance committees and working groups and collaborate with business lines to develop, enhance and administer risk policies.
- Contribute to model risk management practices, including in depth review of model assumptions, design and implementation and back-testing performance of quantitative models.
- Assess internal and external market risks and report MROs perspective to senior management.
- Complete ad-hoc projects and analysis consistent with the Market Risk Oversight functions objectives.
- Provide independent review of the Bank's balance sheet to ensure that potential market risk exposures are identified, analyzed, monitored, and managed, covering:
Bachelor's Degree and 1 year of relevant experience, preferably in Risk Management, Treasury, Asset Liability Management, Capital Markets, Financial Analysis & Planning, Controllers, Capital Planning, Modeling, Model Validation or
High School Diploma or GED and 4 years of relevant experience, preferably in Risk Management, Treasury, Asset Liability Management, Capital Markets, Financial Analysis & Planning, Controllers, Capital Planning, Modeling, Model Validation.
Other preferred qualifications
- Strong critical thinking skills and understanding of and curiosity for traded and banking financial products, including the transaction, operations, accounting, and regulatory reporting functions.
- Conversant with technical financial, policy-based, and non-technical verbal and written communication, as well as the translation into visual representation.
- Ability to work independently / collaboratively; take instruction and take initiative; with strong time management / prioritization skills to handle multiple concurrent tasks with competing deadlines.
- Strong work ethic, as well as an ability to absorb and apply new concepts.
- Advanced proficiency with Microsoft Excel and PowerPoint applications; experience with SQL, VBA, Python, R, or similar tool a plus.
- Degree in Economics, Engineering, Finance, Mathematics, Statistics or other quantitative discipline, advanced degrees a plus.
The base pay for this position is generally between $105,000.00 and $140,000.00. Actual starting base pay will be determined based on skills, experience, location, and other non-discriminatory factors permitted by law. For some roles, total compensation may also include variable incentives, bonuses, benefits, and/or other awards as outlined in the offer of employment
First Citizens benefits programs are designed to meet our associates where they are in life. Full-time associates (20+ hours) are offered a comprehensive benefits program, with customized offerings, including those designed to support families, however defined. More information regarding our benefits offerings can be found here: https://jobs.firstcitizens.com/benefits.