Situated within the Global Risk & Security Division, the Counterparty Risk Management Team provides oversight, approvals, and monitoring of trading counterparties for Vanguard's Investment Management Group (IMG). The team performs analysis and monitoring to ensure IMG's risk exposure is appropriate based on each counterparty's creditworthiness, collaborates with stakeholders to manage risk exposures, and ensures compliance with SEC Derivatives and Liquidity Rules.
The ability to inform and influence stakeholders is critical, ranging from day-to-day interactions with the trading teams to setting risk appetites and managing risk events with the global leaders. This role is an excellent opportunity to directly impact the risk profile of the portfolio management process and build a broad network at Vanguard.
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In this Role the Counterparty and Derivatives Risk Analyst Will:
- Develop, implement, and maintain an effective and efficient risk management infrastructure to measure, monitor, and report risk exposures. Lead initiatives to align global counterparty, derivatives, and liquidity risk frameworks with industry best practice and regulatory requirements. Maintain knowledge of financial markets, securities, and general investment themes to bring an informed perspective.
- Develop a deep understanding of Vanguard's investment management functional areas. Keeps abreast of current issues in business operations and incorporates changing business needs into risk analysis.
- Manage relationships with stakeholders in portfolio management, trading, legal, compliance, and finance organizations. Acts as a liaison and subject matter expert on risk topics.
- Ensure consistent implementation of global counterparty, derivatives, and liquidity risk policies and procedures.
- Spearhead continuous improvement of stress testing methods to identify and communicate potential future exposure. Develop and implements technology-based tools and metrics, and performs data analysis to report, monitor, measure, and manage exposures. Present thorough, clear, and insightful analysis to senior leaders, portfolio managers, and traders. Develop, maintain, and communicate reporting of results effectively.
- Assess the risk of trading with new brokers and counterparties as part of the Counterparty Risk Management approval and onboarding process for IMG. Review financial statements, and historical risk measures to determine broker creditworthiness and overall risk profile. Navigate systems to ensure successful set-up on new brokers and counterparties.
- Monitor for market events that could impact counterparty, derivatives, or liquidity risk. Identifies leading risk indicators and presents on risk exposures, influencing and persuading stakeholders to manage risk appropriately.
- Serve as a SME for the SEC's Liquidity Rule (Rule 22e-4) and Derivatives Rule (Rule 18f-4) Support regulatory compliance by completing monthly liquidity reviews to ensure security classifications are current and resolving potential liquidity breaches as needed. Analyze and validate derivatives gross notional exposure and value-at-risk calculations. Update models and calculations as needed.
- Partner with technology teams to develop and maintain system functionality.
- Participate in special projects and performs other duties as assigned.
What it Takes:
- Minimum of five years related work experience, including three years of related counterparty risk management and controls work experience.
- Undergraduate degree or equivalent combination of training and experience. Graduate degree preferred.
- Progress towards professional certification (CFA, FRM) or continued development of investment and risk acumen preferred.
Key Skillsets:
- Relationship management, influence, and persuasion skills.
- An understanding of investment management and trading processes; in depth knowledge of derivatives.
- Statistical knowledge, data analytics and storying telling skills, and experience with stress testing,
- A strong risk mindset and ability to review processes or firms then clearly summarize exposures for senior leaders.
- The ability to assess impact of market and counterparty events on Vanguard.
- Comfort navigating and troubleshooting complex systems and technology issues.
Special Factors
Sponsorship
Vanguard is not offering visa sponsorship for this position.
About Vanguard
At Vanguard, we don't just have a mission-we're on a mission.
To work for the long-term financial wellbeing of our clients. To lead through product and services that transform our clients' lives. To learn and develop our skills as individuals and as a team. From Malvern to Melbourne, our mission drives us forward and inspires us to be our best.
Our commitment to diversity, equity, and inclusion
Vanguard's commitment to diversity, equity, and inclusion (DEI) is central to our ability to deliver on our mission. We aspire to create a work environment that is inclusive, equitable, and diverse-one that enables our employees, whom we call crew, to thrive and bring their best selves to work every day on behalf of our clients.
Cultivating DEI lifts our entire organization, and everyone shares accountability for our progress-from our senior leaders who lay the foundation and set the example for inclusive behaviors to crew who are growing in their personal DEI learning experiences.
Together, we're on a mission. We are fueled by the value of diverse voices and connected through friendships and a culture of care-for our clients, our communities, and each other.
Vanguard's DEI journey has no finish line. Our commitment is enduring, and we remain focused on the path ahead. To learn more about Vanguard goals and progress toward DEI, download our Diversity, Equity, and Inclusion Report .
How We Work
Vanguard has implemented a hybrid working model for the majority of our crew members, designed to capture the benefits of enhanced flexibility while enabling in-person learning, collaboration, and connection. We believe our mission-driven and highly collaborative culture is a critical enabler to support long-term client outcomes and enrich the employee experience.