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Transversal Stress Testing Officer
Societe Generale
New York, NY, United States
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Environment
The RISQ Division's mission is to contribute to the development of the SG Group's activity by facilitating the objectives of the Business Lines while maintaining independent oversight through risk evaluation and monitoring. The RISQ Division in the US supports all the activities in the Americas Region (US, Canada and Latin America), which are almost exclusively Corporate and Investment Bank-oriented.
The risk professional sought for this position will be part of the SGUS Enterprise Risk Management Team, and will report in to the Head of Stress Testing in the Americas.
The Enterprise Risk Management Stress Testing team is in charge of:
• Defining stress testing standards and frameworks applicable to SGUS, and overseeing their application
• Coordinating SGUS stress testing projects across all risk types
• Developing SGUS stress scenarios, in accordance with applicable governance including Group Economist forecasts
• Coordinating SGUS enterprise stress testing including aggregation and analysis of quarterly cycle
• Where needed, participating in risk-specific stress test model development and validation processes
The candidate will need to have a clear understanding of what is required to develop a comprehensive stress testing framework. This will entail communicating requirements and other needs to various stakeholders within the business lines and risk management or other support function teams. He or She will participate in the analytical processes and in enhancing methodologies, and will take the steps to support initiatives around governance, and action plans. The candidate will coordinate in a hands-on fashion initiatives owned by specific risk streams including, but not limited to, financial results projections and operational risk stress testing Understanding of key concepts around market activities and lending portfolios is important in order to develop robust stress testing models or methodologies.
Mission
Day to day responsibilities include but are not limited to:
• Coordinate regional efforts with SG Group Stress Testing and Modelling effort
• Act as a liaison with Risk Management departments at head-office to update counterparts as well as secure approvals for local initiatives
• Coordinating various stress testing initiatives across several risk types which include market, credit, op risk, financial results, liquidity risk.
• Support analytical efforts to consolidate and aggregate quarterly results with relevant analysis, review and effective challenge presented at Risk Management Committee level
• Support regulatory effort linked to European as well as US regulations, including annual Home Country Stress Testing reporting and Resolution Planning.
• Define and enhance controls by providing effective challenge from a 2nd line of defense standpoint
• Liaise with 3rd line of defense ( SG Audit department) to coordinate and deliver on recommendations
• Work closely with other support functions including COO, IT or head-office teams to enhance stress testing framework and trouble-shoot issues as needed
• Foster stronger collaboration between model owners and model validation in the context of stress testing modelling
• Develop a strong understanding of scenario design, key assumptions and forecasts of various risk stripes
• Enhance integration of key processes linked to stress testing, including material risk identification and risk appetite statement from a regional and global perspective
Profile
COMPETENCIES
Required:
• Strong leadership and communication skills.
• Ability to deliver strongly on presentation and meetings at management level. Superior written and oral communication skills,
• Analytical skills needed to understand and challenge key assumption
• Efficiency and ability to achieve results under tight deadlines and high pressure,
• Ability to provide effective challenge to senior members of business line and of risk management across the organization.
• Ability to interact with Head Office and Senior Management
• Ability to understand US regulatory requirements related to risk management.
TECHNICAL SKILLS
• Knowledge of risk processes, risk framework including stress testing analysis, including financial results/operational risk and liquidity risk profile
• Understanding of main macro-economic assumptions used through stress testing,.
• Ability to analyze approach or results from an independent standpoint including challenging business line or finance department assumptions
• Strong knowledge of bank activities and their risk profile in both normal and stressed markets
PRIOR WORK EXPERIENCE
• Required: 4+ years in a risk management function related stress testing or risk management linked to strategic planning, financial or risk targets.
• Proven track record in managing complex risk initiatives with effective challenge
• Hands-on experience in risk frameworks across several risk types such as liquidity, market or PPNR like reporting
• 10+ years of experience in risk management with focus on risk analysis, risk management in a financial instituion
EDUCATION
• Bachelor’s Degree in quantitative/economic field. Advanced degrees such as Master’s Degree preferred.
LANGUAGE
• English
• French language knowledge a plus.
Supervision Duties (Y/N):
N/A
Required Registrations or Certifications:
N/A
Risk Management
Employees should understand the institution’s approach to risk management and their respective roles in supporting a strong risk culture, as outlined in the SGUS Operations Enterprise Risk Management Framework.
Our Culture
At Societe Generale, we live by our 4 core values of commitment, responsibility, team spirit and innovation. We are engaged and demonstrate consideration for others. We act ethically and with courage. We focus our talent and energy on collective success. We experiment and propose new ideas. This way, we maximize our ability to serve client needs and anticipate market changes. Société Générale is committed to strengthening bonds with colleagues, communities and the world in which we live, because relationships are at the heart of how we operate.