Financial Risk Analyst - Fixed Term Contract
MEDIOLANUM BANKING GROUP
The Mediolanum Banking Group is a leading Italian financial conglomerate listed on the Milan stock exchange and a constituent of the FTSEMIB index. It was founded in 1982 with the aim of delivering customized, value adding investment products and services to retail clients by means of an innovative, client centric, service orientated distribution model
Today the two basic components of Mediolanum’s early success, innovation and client service, are firmly embedded in the DNA of the organization and none more so than in Mediolanum’s Irish Operations which have developed over time to become the financial research and development centre for the Group, driving product and service innovation across its mutual funds, asset management and insurance businesses alike.
Established in Dublin since 1997, Mediolanum has a Fund Management Company, an Asset Management Company and a Life Insurance Company with each focused on the research, development, and discovery of innovative investment products and services, which it then delivers to its European retail client base through UCITS and Non UCITS mutual funds as well as unit linked life insurance products. These products are distributed primarily through the Group’s Banking entities and their Family Banker sales networks. The Irish Operations with almost 100 people also support our Group entity Gamax AG in Luxembourg which is growing its institutional business. Our people are continuously trying to effect change for advantage and we have created unique internal mechanisms to foster and develop IP initiatives in all aspects of our activities.
Our overall business has grown to now having c. €37.5 billion in assets under management.
When recruiting we are seeking persons who are creative and who want to innovate, and who can leverage on the pools of knowledge and skill available to us through many partnerships at a global level.
We are seeking an experienced Financial Risk Analyst to join our Risk Team to take ownership of their role and to assist build upon our existing processes to create a dynamic Financial Risk function.
This role will be centred on our 3 entities Mediolanum International Life Ltd, Mediolanum International Funds Ltd and Mediolanum Asset Management Ltd. The Risk Analyst will devote their time working across all 3 entities gaining invaluable insight into the interactions of the companies and how they interact with the Risk process. There will be additional emphasis on the Investment Risk within this role.
The successful candidate will have previous experience within Financial Risk matters and who can display skill, energy and enthusiasm so as to gain a rapid understanding of the risk and control aspects of our different entities, and to be part of a small team implementing our risk strategy and philosophy across the organisation.
Duties will include, but not limited to the following
Duties and responsibilities will include, but not limited to the following:
- Ensuring that risks are effectively managed and appropriate policies are implemented throughout the Company.
- Strong analytical knowledge on various Investment products (including derivatives, fixed income, equity) and risk metrics/techniques (such as VaR, Stress Testing, alpha, beta, tracking error)
- Assist with / Develop and build internal risk models for monitoring of Investment risk, Counterparty risk and Insurance risk
- Identifying risks and monitoring key Investment decisions associated with these.
- Participating in various committees /Boards and processes representing the Risk Department and actively promoting opportunities to improve risk mitigations / controls and manage risk
- Assessing emerging and macro risks, including new products or significant process / business changes and propose effective solutions
- Promoting a strong risk awareness culture
- Work closely with the Central Bank of Ireland in providing information on the risk appetite and risk profile of the companies
- Undertaking ad hoc requests and reports as required from time to time.
- Work and interact closely with internal teams, in particular the Investment Team in both monitoring and assessing risk
- Participate in regulatory and prudential tasks as / when required
The Ideal Candidate will have;
Skills / competencies
- Organised individual who can self-manage multiple priorities, routine work and urgent issues as they arise. The ideal candidate is focused on resolving issues in a pro-active way and in a timely way
- Display Knowledge & Authority and attention to detail in dealings with all parties and maintaining priority of achieving goals
- Can establish him/herself as a Reliable Point of Contact for internal and external parties
- Ability to work independently on large projects which are key to the development /progression of the Risk Team
- Developing and managing relationships both internally and externally
- Excellent verbal, written and numeric skills.
- IT related skills (such as SQL Server or C Sharp, etc.) an advantage
- UCITS or other regulatory knowledge an advantage
Qualifications and experience
- Minimum of 4-5 years’ work experience in Risk Management within an asset management or mutual funds environment
- Degree or Postgraduate with substantial mathematical/ quants / statistical/ financial element. FRM / PRM / CFA accreditation would be an advantage
- Good understanding/working knowledge of risk measurement tools/concepts for example: Absolute/Relative VaR, Alpha, Volatility, Correlation
- Good understanding/working knowledge of financial products - for example Call/Put, Index/Unit Linked, Equity, Bonds
- Proficient user of Bloomberg and other systems (For example MISYS)
- Advanced VB/Excel proficiency a minimum requirement
Remuneration package will be competitive and based on the successful candidate’s overall abilities and experience.