Head of Liquidity Risk Management

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Job Description

Team

The Global Risk Management team is based across the New York, London, Frankfurt and Asia offices and comprises subject matter experts across all product areas. The Liquidity Risk function forms part of the International Risk Department regionally and the Global Risk Department globally.

Role

Jefferies International Limited (JIL) is looking to hire an JIL Head of Liquidity Risk Management to join the Risk Management organisation. The role will be based in either London or Frankfurt, with responsibilities for second line liquidity risk management of trading activity outside Americas. The primary responsibility of this Risk Manager will be to act as the counterpart to regional treasurers and to oversee as part of the newly created global liquidity risk function. The individual will work closely with regional Treasury, Front Office, Risk Controllers, Risk Managers, Risk Analytics team and other corporate functions. The responsibilities will comprise BAU liquidity risk management activities, new business proposals, methodology development, including liquidity stress testing & scenario analysis and executing specific projects, which will encompass regulatory initiatives.

Key Responsibilities & Activities:

The main responsibility and accountability of this role will be to establish a JIL Liquidity Risk Management function as the 2nd line of defense (LOD) and to provide independent review, challenge and oversight on processes and methodologies consistent across JIL's legal entities. The mandate includes acting as 2nd LOD overseeing the implementation of regional liquidity risk management framework, monitoring liquidity and funding adequacy and ensuring overall liquidity risk is in line with the Firm's risk appetite.

Risk Appetite & MI

• Independent review and challenge on transparency, clarity and governance of the (i) Risk Appetite Framework and (ii) MI metrics (incl. Early Warning Indicators) for Liquidity Risk incl. ensuring that these are monitored under an appropriate governance framework with appropriate escalation of any non-compliance.

Governance & Documentation

• Development and Implementation of a regional liquidity risk management framework, policies/procedures and controls incl. risk appetite framework and statements, and liquidity risk limits.
• Independent review and challenge to confirm that the documentation underpinning the Liquidity Management Framework, including modelling, is robust and fit for purpose given the Firm's scale, nature and complexity of activity.
• Attendance at the regional ALCO and other Committees.

Model (Validation) Framework

• Development and implementation of governance framework on (Treasury owned) models, non-model estimates, and other infrastructure/tools to assess and monitor liquidity risk.
• Independent review and challenge of non-model estimates.
• Technical model/tool validation of the Treasury infrastructure for quantifying liquidity risk and attributing FTP
• Ensuring a globally consistent stress testing framework has been designed and implemented that meets both internal and external regulatory requirements.

Legal Entity Level

• Responsibility for review and challenge to the ILAAP process and other key Committees
• In relation to the Recovery Plan, review and challenge the governance arrangements developed by Treasury; and lead the development and maintenance of stress testing and scenario analysis for the Recovery Plan and production of the analysis document and the User Guide.
• To manage and provide guidance to the other member of the liquidity risk team

Person Specification

• Strong quantitative academic background with ideally a (postgraduate) degree in mathematics or similar
• Strong Treasury experience and/or market facing experience in Equity and Fixed Income market risk management
• In depth knowledge of equity & fixed income trading products and markets, including equity cash and convertibles, electronic trading, Asia corporate credit and interest rate derivatives
• Solid understanding of liquidity risk measurement methodologies (incl. scenario analysis and stress testing)
• Experience of new product/business development due diligence and related testing
• Knowledge of local regulatory environments as this pertains to liquidity risk
• Experience of performing due diligence on trades and their impact on liquidity
• Experience of managing and developing risk appetite/limits

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About Us

Jefferies Financial Group Inc. (''Jefferies,'' ''we,'' ''us'' or ''our'') is a U.S.-headquartered global full service, integrated investment banking and securities firm. Our largest subsidiary, Jefferies LLC, a U.S. broker-dealer, was founded in the U.S. in 1962 and our first international operating subsidiary, Jefferies International Limited, a U.K. broker-dealer, was established in the U.K. in 1986. Our strategy focuses on continuing to build out our investment banking effort, enhancing our capital markets businesses and further developing our Leucadia Asset Management alternative asset management platform. We offer deep sector expertise across a full range of products and services in investment banking, equities, fixed income, asset and wealth management in the Americas, Europe and the Middle East and Asia.

At Jefferies, we believe that diversity fosters creativity, innovation and thought leadership through the infusion of new ideas and perspectives. We have made a commitment to building a culture that provides opportunities for all employees regardless of our differences and supports a workforce that is reflective of the communities where we work and live. As a result, we are able to pool our collective insights and intelligence to provide fresh and innovative thinking for our clients.

Jefferies is an equal employment opportunity employer, and takes affirmative action to ensure that all qualified applicants will receive consideration for employment without regard to race, creed, color, national origin, ancestry, religion, gender, pregnancy, age, physical or mental disability, marital status, sexual orientation, gender identity or expression, veteran or military status, genetic information, reproductive health decisions, or any other factor protected by applicable law. We are committed to hiring the most qualified applicants and complying with all federal, state, and local equal employment opportunity laws. As part of this commitment, Jefferies will extend reasonable accommodations to individuals with disabilities, as required by applicable law.