Top finance firm needs specialist to handle risk

PUBLISHED : Saturday, 10 June, 2006, 12:00am
UPDATED : Saturday, 10 June, 2006, 12:00am

Someone who understands valuation and risk management can bank on this job with a leading industry player.

According to Fortune Global 500,

Fortis had a market capitalisation of $384.94 billion at the end of the first quarter this year and it ranks 23rd in total assets among financial institutions in Europe. It has a presence in 50 countries and 58,000 staff.

The company is looking for a talented individual to work in its merchant banking department as an assistant manager for risk management.

The chosen candidate will join a staff of about 650 people and a risk management team of eight experienced members in Hong Kong.

David Thiry, head of risk management at Fortis' merchant banking Asia, said the assistant manager would be responsible for revaluations of different financial products in the bank's portfolio to make them independent from the bank's commercial business.

These products include interest rate derivatives, foreign exchange derivatives, bonds and money market products, among others.

'The team also checks that the positions taken by the bank are within the limits set by the management,' Mr Thiry said.

He said an interesting aspect about the job was that the bank's local product range was growing.

The assistant manager will also take part in marking products against market value and will look at risk monitoring of these upcoming products.

The manager will also be responsible for organising the team to handle the new products and properly evaluate and manage risk.

Long hours, tight deadlines and working with little supervision are a few of the challenges to consider when applying for this highly lucrative role.

The job will most likely go to a high-flier who takes pride in his or her work, always strives for accuracy and values co-operation.

A person with lots of enthusiasm will take up the challenge of implementing a new front office system. The application is meant to improve efficiencies in pricing and managing risk for the bank and, therefore, extensive training will be required to get everyone on board as smoothly as possible.

'The goal of the assistant manager's position is also to improve the automation of recurring work that is spreadsheet based,' Mr Thiry said.

At least two years of experience in financial risk management or four years in a financial markets environment is required for the job.