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New York, NY
Hedge Fund is seeking a Credit Risk Officer. Cover a portfolio of hedge funds and fund of hedge funds clients across all Global Markets products and activities. Bachelor’s Degree in Finance or related field. Experience in hedge fund counterparty credit risk and/or hedge fund investment risk.
Our team is seeking to add an experienced Hedge Fund Credit Risk Officer. This team member will cover a portfolio of hedge funds and fund of hedge funds clients across all Global Markets products and activities (OTC and listed derivatives, prime brokerage and clearing activities, fund of hedge funds financing and other structured products).
* Due diligence of funds, prepare annual reviews, set limits, manage exposures, opining on transactions, negotiation of legal terms, and active monitoring of risk
* Conduct Hedge Fund and Fund of Hedge Funds due diligences
* Complete the due diligence reports and client ratings
* Negotiate credit terms of Legal agreements (ISDA, GMRA, Clearing agreements, etc.)
* Manage client credit lines and transaction parameters
* Monitor portfolio and address daily overshoots across all applicable metrics
* Assessment – Perform hedge fund and fund of hedge funds due diligence including reviewing of relevant documentation, analyzing investment and operational risks, performing background checks, arranging and attending on-site due diligence meetings, and drafting well-written, cogent, due diligence documents. Provide analysis and assist in opining on transactions and associated risks and limits
* Monitoring – Maintain a deep understanding of the counterparty risks metrics and exposures. Active continuous monitoring across a broad range of metrics and indicators and management of counterparty exposures in accordance with developing market conditions, counterparty risk profile and defined risk appetite. Follow up on limit, threshold and policy breaches. Maintain up-to-date risk information and the ongoing monitoring of hedge fund performance and creditworthiness
* Mitigation – Enforce procedures designed to mitigate against losses in the event that a hedge fund defaults, including assisting in negotiating credit terms of legal documents (e.g. ISDA ATEs), negotiating and opining on Independent Amounts or margin requirements
* Approval – Challenge the front office requests. Approve specific credit files and limits (per prevailing policy requirements) and the associated credit ratings. Approve specific one-off transactions as required and facilitate the approval of files that are to be escalated further
* Handle validation requests on credit limits and internal ratings, as well as approval of certain types of trades within delegated credit approval authority (where applicable). Develop, test and deliver solutions relating to assigned projects and goals as applicable
* Bachelor’s in Finance or related field. Masters a plus
* Experience in hedge fund counterparty credit risk and/or hedge fund investment risk
* Experience reading and understanding detailed covenants and clauses in legal documentation such as ISDAs, FAAs, GMRAs, term sheets, prospectuses etc.
* Excellent communication skills.
* Writing and presentation skills required
* Good analytical/statistics skills; understanding of means, standard deviations, correlation, normal distributions, sampling error, and basic performance statistics for the fund industry
* Experience managing large data and funds projects (data remediation, automation, build KPIs target framework implementation)
* Knowledge of hedge fund industry and hedge funds structures, strategies and risks associated with products in scope
* Knowledge of regulated funds structures and credit analysis is a plus
* Ability to lead in-person and/or virtual meetings with very experienced hedge fund managers
* Knowledge of OTC and listed derivative products and drivers of associated risks
* Ability to meet deadlines and work independently as well as contribute to team goals
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