Job | Head of Risk - Conducting Officer - AIFM | Badenoch + Clark
Location
Luxembourg
Salary
To be disclosed
Contract Type
To be disclosed
Category
Accounting & Finance

Introduction

A growing AIFM Management Company is looking to strengthen their team by welcoming a Head of Risk Conducting Officer for Risk to join their team.

Function information

Your Responsibilities

Prepare and maintain a Business Risk Assessment for the Company presenting a holistic view of the risks it faces across its business and how these are mitigated. Maintain a Risk log of events, causes, and actions taken:

Portfolio Risk:

  • Develop and document a Risk Management Process (RMP) for each AIF managed by the Company;
  • Define a set of portfolio risk limits for each AIF and monitor and report against these limits;
  • Review the investment strategy of each AIF, including the asset origination, monitoring and restructuring processes of the Investment Advisor and Sub-Investment Advisor
  • Review the overall level and evolution of the portfolio level risk of each AIF, considering interalia sector concentrations, sector and other correlations (using PM+)

Investment Risk:

  • Monitor compliance with investment restrictions and guidelines applicable to each AIF, including the terms of any side letters, on an actual and prospective basis
  • Oversight the Investment Sub-Advisor’s due diligence practices on underlying investments
  • Oversight investment documentation process of the Investment Sub-Advisor to ensure legal agreements adequately reflect agreed terms of the investments

Credit Risk:

  • Track any adverse credit migration in the underlying investments of the AIFs due to changes in the general economic and market conditions in a particular country or affecting a particular industry sector
  • Monitor covenant compliance by borrowers
  • Monitor the Semi-annual and annual review activity of the Investment Sub-Advisor
  • Review Enhanced Monitoring Committee minutes

Counterparty Risk:

  • Maintain the Approved Counterparties list
  • Monitor counterparty risk on an ongoing basis
  • Review Record Currency Management KPIs

Valuation Risk:

  • Review the valuation policies proposed by the Investment Sub-Advisor for each AIF; advise on the parameters for the NAV Calculation Error policy set for each AIF
  • Monitor compliance with the valuation policy of each AIF and any applicable NAV Calculation Error policy
  • Understand and review the valuation models prepared by the Investment Sub-Advisor and their parameterisation
  • Review the operation of the valuation process for each AIF to ensure that consistent and appropriate procedures are established
  • Review the quarterly valuation reports prepared by the Investment Sub-Advisor

Model Risk:

  • Review of models used for rating calculations (PD, LGD, EaD) by the Investment Sub-Advisor based on back-testing reports and data provided by IBM, including reviewing the performance over time of key risk models used (at least annually)

Liquidity Risk:

  • Assess the liquidity risk associated with the design and operating model of each AIF
  • Develop a liquidity risk management framework and policy for each AIF
  • Establish for each AIF a monitoring framework and set of controls, including stress testing appropriate to the liquidity risk profile of each AIF
  • Oversee the management of Liquidity Events by the Portfolio Officer and/or Operational Officer

Operational Risk:

  • Develop and maintain a holistic assessment of the Company’s operational risks resulting from inadequate internal processes and failures in relation to people and systems or from reliance on external service providers to the Company and the AIFs, or from external events, legal and documentation risk and risk resulting from the valuation of Investments
  • Undertake with the Operational Officer due diligence on key service providers to the Company and the AIFs, including setting KPIs and KRIs
  • Evaluate any losses resulting from operational failures, internal or by service providers
  • Assess ops risk for the Firm’s branch offices

Risk Reporting:

  • Presenting internal and external risk reports

Requirements

Your Profile

  • University degree from a Business School or University preferably with a specialisation in Risk, Finance, Accounting, or Economics
  • At least 7 years of related work experience in risk management, audit or similar function within the institutional asset management business or consulting firm
  • Relevant business experience in Risk Management with a proven track record influencing processes and controls
  • Knowledge of CSSF regulatory requirements applicable to AIFs
  • Fluent in English
  • Strong analytical skills including the ability to think critically and logically; creative problem solving and excellent decision-making skills
  • Demonstrate attention to detail with the ability to set priorities
  • Strong MS Office Word, Excel, PowerPoint skills required and Visio a plus

To include yourself within this recruitment process; to find out more information about this role; or to discuss other career opportunities we have available, please contact Renata Ubaviciute as soon as possible - CONFIDENTIALITY ASSURED - Please note that by applying your cv is sent directly, and only, to the consultant in charge of this opportunity. #LI-RU1

Before applying to any of our opportunities, we invite you to read our privacy policy, available on our website. https://www.badenochandclark.com/en-lu/privacy-policy

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Information

Renata Ubaviciute

+352 26 19 28 1022

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