Manager - Financial Markets Risk

The Manager, Financial Markets Risk will lead the second line oversight of financial markets risk across the Bank, ensuring that we identify, analyse and manage the risks related to our operations in financial markets, in a robust, fit-for-purpose fashion that meets the high internal governance and risk standards expected of a public institution. Given the fundamental impact the Bank’s decisions have on the Australian economy, financial markets and financial institutions, this role is critical in safeguarding the integrity of the Bank’s balance sheet and operations in financial markets and achieving the Bank’s policy objectives.

This role is ideal for a financial risk professional with strong quantitative, analytical and writing skills and a demonstrated ability to engage with a wide range of stakeholders. Experience in financial markets and a desire to apply risk skills, experiences and tools to a central bank’s unique remit and operations are essential.

Responsibilities:

• Provide second-line challenge and oversight of first-line risk identification, analysis and risk management around ‘day to day’ financial portfolio management (e.g. market risk, credit risk, liquidity risk, stress testing, capital adequacy). Provide similar second-line challenge on the implications of significant changes in monetary and financial stability policies.

• Monitor central bank, industry and regulatory developments and assess their impact on financial market risk practices.

• Prepare and present financial market risk insights to senior management, risk committees, and the Board which underpin both policy and governance determinations.

• Support the development and maintenance of the financial market risk management framework, policies, and procedures in line with relevant standards.

• Support the development of financial market risk appetite and key risk indicators (KRIs).

• Mentor and lead staff and contribute to a culture of analytical excellence and continuous improvement.

Experience

• 8+ years of experience in financial market risk within a financial institution or regulator, preferably in a second-line or oversight capacity.

• Tertiary qualifications in a quantitative discipline (e.g. mathematics, statistics, finance, economics, actuarial science).

• Strong understanding of financial risk management governance, analytical techniques and models (e.g. VaR, stress testing, IRRBB), and regulatory standards. The latter including familiarity with APRA Prudential Standards (e.g. CPS20, APS220, CPS110, APS116, APS117, APS210, CPG229).

• Excellent analytical, communication, and stakeholder engagement skills.

• Familiarity with financial market data, trading and risk systems (e.g. Reuters, Bloomberg, Murex), Excel/VBA, and ideally with R or Python.

• Prior experience in a central bank, financial regulator or regulated financial institution, with flexibility to apply risk management and practices to a central bank’s policy remit.

Your team 

Reporting to the Senior Manager Financial, Market and Model Risk, within the Risk Management team (Line 2), you will play a leading role in establishing effective Line 2 review, challenge, and insight across the Bank’s material risk classes. Establishing strategic and trusted relationships across the Bank is fundamental to the team’s success. The Risk Management team supports the consistent and effective application of the Bank's framework for managing risk and compliance obligations, both at the enterprise level and for individual business units across the Bank. It also advises on and implements the risk management framework governing the Bank’s operations in financial markets.

Be More

Working for an organisation that truly makes a difference to the people of Australia, we can offer development and career opportunities in a collaborative environment that supports your growth, wellbeing and promotes flexibility. Your individual growth and success drives the RBA forward as an organisation. Be more means you can do more, for yourself and for Australia.

Why RBA?

The RBA makes an important contribution to the Australian economy through the pursuit of national economic policy objectives and associated activities in financial markets and banking. We also issue Australia's banknotes and operate infrastructure critical to the payments system, all of which contribute to the welfare of the Australian people.

Made up of specialists across a wide range of fields, our people, values, and culture play  a critical role in achieving our objectives. Striving to be Open & Dynamic, we consider and incorporate different perspectives, work across teams and are transparent with each other, whilst delivering quality together effectively and focusing on outcomes by prioritising, testing, learning, and refining as we go.

Our people conduct themselves with a high degree of integrity, while striving for excellence in the work they perform and the outcomes they achieve. We encourage intelligent inquiry and we treat one another with respect while promoting the public interest through our efforts.

We know it is the growth and success of our people that drives the RBA forward. Come and make a bigger contribution while you build and develop your own skills too, because being more means you can do more, for yourself and for Australia.

The Reserve Bank of Australia is committed to equity, diversity and inclusion through key initiatives.  We welcome and encourage applicants from diverse backgrounds to apply, including Aboriginal and Torres Strait Islander peoples, culturally and linguistically diverse background, those living with a disability and from the LGBTQ+ community.  We are committed to making the recruitment process fair and equitable for all our candidates.

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