Bank of Hawaii
Specialist Market Risk Oversight
Bank of Hawaii, Honolulu, Hawaii, United States, 96814
Job Description
Financial Risk Management (FRM), an independent 2nd Line of Defense (LOD) risk management function, is looking to fill its Market Risk Oversight Specialist position to risk manage the Company's market risk exposures. The successful risk professional will report to the Director of Financial Risk Management and provide risk oversight and carry out risk management practices over the Banking Book Market Risk, Investment and Derivatives Portfolio, and client-facilitating mark-to-market positions, identifying and reporting market risk in a comprehensive manner and contributing to the achievement of the Company's financial goals and objectives.
The incumbent plays pivotal role in the management of risks resulting from movements in interest rates and other market risk factors, reviewing and challenging the Bank's asset and liability management (ALM) and associated structural interest rate risk (IRR) managing and mitigating practices. The Specialist's responsibilities include reviewing and challenging of all market risk-related activities, contributing in the developing of the market risk management framework and associated policies and control processes. The Specialist promotes Business Units' compliance with applicable laws and regulations, including but not limited to those related to Anti-Money Laundering laws and regulations, the Bank Secrecy Act, and the USA PATRIOT Act, and adherence to the Company's Risk Management Policy, Financial Risk Management Policy, and other applicable policies and procedures,
Responsibilities
Banking Book Interest Rate RiskAssist in developing and implementing risk management strategies and framework to identify, assess, and control the interest rate risk (IRR) embedded in the Banking Book.Collaborate with Treasury and Enterprise Risk Management (ERM) in designing of Board-level market risk metrics and appetite.Support review and challenge of the IRR profile, ensuring alignment with the Company's risk appetite and regulatory guidelines.Aid in reviewing and challenging Treasury is employing sound ALM modeling approach for its Net Interest Income (NII) and Economic Value of Equity (EVE) simulations and their sensitivities, including shock and stress analysis.Ensure ALM modeling approaches, methodologies, and assumptions are sound and meet regulatory guidelines, requirements, and expectations as set forth in the Fed's SR 11-7 Supervisory Guidance on Model Risk Management.Provide support in preparing insights and recommendations to senior management on IRR exposures.Participates in the Enterprise-Wide Stress Testing by assisting in reviewing and challenging stress testing methodologies, data, financial analysis, models, internal controls, etc.Investment and Derivatives Portfolio Risk
Conduct on-going analysis of investment portfolios and derivative positions to evaluate risk exposures.Assist in developing risk analytics and stress testing scenarios to assess potential impacts of investment and derivatives portfolio on the Company's financial health.Partner with portfolio managers to optimize risk/return profiles within established risk limits.Client Facilitating Mark-to-Market Position Risk
Assist in overseeing client-facing and interbank mark-to-market positions, balancing client objectives with the Bank's risk tolerance.Work closely with Treasury and Treasury Operations and manage market and counterparty credit risks associated with mark-to-market positions.Regulatory Compliance and Risk Infrastructure
Stay abreast of regulatory changes related to IRR and price risks and ensure the Bank's adherence to applicable regulations, including but not limited to SR 10-01.Design and submit accurate, timely, and relevant market risk reports to the Board's Audit and Risk Committee, the ALCO, the Risk Council, and senior management and promote risk awareness.Collaborate with Business Risk Executives, Enterprise Risk Management (ERM), Internal Audit, and Compliance to address any identified issues promptly.This position requires use of a personal computer and other standard office equipment.
Qualifications
Education: Bachelor's degree with major in finance or related field from an accredited institution or equivalent work experience. Advanced degree and/or CFA preferred but not required.Experience: Minimum 4 years of experience in market, credit, or model risk management in the banking or financial industries.Technical Skills: Demonstrated proficiency and expertise with personal computers in a networked environment and Microsoft applications (Outlook, Word, Excel, and Power Point). Knowledge of or ability to use bank software and systems. Familiarity with QRM desired.Other Job Qualifications: Excellent communications skills, including verbal, written, inter-personal and presentation skills. Strong conceptual and quantitative problem-solving skills and ability to think creatively. Ability to build strong and productive relationships with key stakeholders. Able to work flexible hours including holidays, weekends and evenings as needed or assigned.
As a Bank of Hawaii employee, you ensure (or assist with ensuring) compliance with applicable laws, regulations, regulatory requirements and Bank policies and procedures, including but not limited to those related to Fair Banking, Anti-Money Laundering laws and regulations, Bank Secrecy Act and USA PATRIOT Act.
Delivering exceptional customer experiences is at the heart of what we do at Bank of Hawaii. We listen, understand and deliver what our customers need to help them build a better tomorrow.
We are an EEO/AA employer, including disability and veterans. For Bank of Hawaii's full EEO statement, please visit https://www.boh.com/careers.
Financial Risk Management (FRM), an independent 2nd Line of Defense (LOD) risk management function, is looking to fill its Market Risk Oversight Specialist position to risk manage the Company's market risk exposures. The successful risk professional will report to the Director of Financial Risk Management and provide risk oversight and carry out risk management practices over the Banking Book Market Risk, Investment and Derivatives Portfolio, and client-facilitating mark-to-market positions, identifying and reporting market risk in a comprehensive manner and contributing to the achievement of the Company's financial goals and objectives.
The incumbent plays pivotal role in the management of risks resulting from movements in interest rates and other market risk factors, reviewing and challenging the Bank's asset and liability management (ALM) and associated structural interest rate risk (IRR) managing and mitigating practices. The Specialist's responsibilities include reviewing and challenging of all market risk-related activities, contributing in the developing of the market risk management framework and associated policies and control processes. The Specialist promotes Business Units' compliance with applicable laws and regulations, including but not limited to those related to Anti-Money Laundering laws and regulations, the Bank Secrecy Act, and the USA PATRIOT Act, and adherence to the Company's Risk Management Policy, Financial Risk Management Policy, and other applicable policies and procedures,
Responsibilities
Banking Book Interest Rate RiskAssist in developing and implementing risk management strategies and framework to identify, assess, and control the interest rate risk (IRR) embedded in the Banking Book.Collaborate with Treasury and Enterprise Risk Management (ERM) in designing of Board-level market risk metrics and appetite.Support review and challenge of the IRR profile, ensuring alignment with the Company's risk appetite and regulatory guidelines.Aid in reviewing and challenging Treasury is employing sound ALM modeling approach for its Net Interest Income (NII) and Economic Value of Equity (EVE) simulations and their sensitivities, including shock and stress analysis.Ensure ALM modeling approaches, methodologies, and assumptions are sound and meet regulatory guidelines, requirements, and expectations as set forth in the Fed's SR 11-7 Supervisory Guidance on Model Risk Management.Provide support in preparing insights and recommendations to senior management on IRR exposures.Participates in the Enterprise-Wide Stress Testing by assisting in reviewing and challenging stress testing methodologies, data, financial analysis, models, internal controls, etc.Investment and Derivatives Portfolio Risk
Conduct on-going analysis of investment portfolios and derivative positions to evaluate risk exposures.Assist in developing risk analytics and stress testing scenarios to assess potential impacts of investment and derivatives portfolio on the Company's financial health.Partner with portfolio managers to optimize risk/return profiles within established risk limits.Client Facilitating Mark-to-Market Position Risk
Assist in overseeing client-facing and interbank mark-to-market positions, balancing client objectives with the Bank's risk tolerance.Work closely with Treasury and Treasury Operations and manage market and counterparty credit risks associated with mark-to-market positions.Regulatory Compliance and Risk Infrastructure
Stay abreast of regulatory changes related to IRR and price risks and ensure the Bank's adherence to applicable regulations, including but not limited to SR 10-01.Design and submit accurate, timely, and relevant market risk reports to the Board's Audit and Risk Committee, the ALCO, the Risk Council, and senior management and promote risk awareness.Collaborate with Business Risk Executives, Enterprise Risk Management (ERM), Internal Audit, and Compliance to address any identified issues promptly.This position requires use of a personal computer and other standard office equipment.
Qualifications
Education: Bachelor's degree with major in finance or related field from an accredited institution or equivalent work experience. Advanced degree and/or CFA preferred but not required.Experience: Minimum 4 years of experience in market, credit, or model risk management in the banking or financial industries.Technical Skills: Demonstrated proficiency and expertise with personal computers in a networked environment and Microsoft applications (Outlook, Word, Excel, and Power Point). Knowledge of or ability to use bank software and systems. Familiarity with QRM desired.Other Job Qualifications: Excellent communications skills, including verbal, written, inter-personal and presentation skills. Strong conceptual and quantitative problem-solving skills and ability to think creatively. Ability to build strong and productive relationships with key stakeholders. Able to work flexible hours including holidays, weekends and evenings as needed or assigned.
As a Bank of Hawaii employee, you ensure (or assist with ensuring) compliance with applicable laws, regulations, regulatory requirements and Bank policies and procedures, including but not limited to those related to Fair Banking, Anti-Money Laundering laws and regulations, Bank Secrecy Act and USA PATRIOT Act.
Delivering exceptional customer experiences is at the heart of what we do at Bank of Hawaii. We listen, understand and deliver what our customers need to help them build a better tomorrow.
We are an EEO/AA employer, including disability and veterans. For Bank of Hawaii's full EEO statement, please visit https://www.boh.com/careers.