Director, Head of XVA Desk

MUFG

  • London
  • Permanent
  • Full-time
  • 1 month ago
Do you want your voice heard and your actions to count?Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG), one of the world’s leading financial groups. Across the globe, we’re 120,000 colleagues, striving to make a difference for every client, organization, and community we serve. We stand for our values, building long-term relationships, serving society, and fostering shared and sustainable growth for a better world.With a vision to be the world’s most trusted financial group, it’s part of our culture to put people first, listen to new and diverse ideas and collaborate toward greater innovation, speed and agility. This means investing in talent, technologies, and tools that empower you to own your career.Join MUFG, where being inspired is expected and making a meaningful impact is rewarded.OVERVIEW OF THE DEPARTMENT/SECTIONManage all XVA risk across Rates business within EMEA plus non Yen flows from Asia.NUMBER OF DIRECT REPORTS1+MAIN PURPOSE OF THE ROLESpecifically, you have accountability for the following named department: XVA ManagementKEY RESPONSIBILITIESSpecifically, you will be accountable and responsible for taking appropriate action with respect to the Company and MUS(EMEA), Rates, XVA Management department, including:Planning, Strategy Development and Execution [XVA Trader]You will be responsible for contributing to the successful execution of departmental strategy - in line with the regional business objectives, international business objectives and entity requirements. Specifically this will include the following:
  • responsible and accountable for ensuring that your day-to-day activities (including, where applicable, those of your direct reports) are aligned to the overall departmental business strategy for your product / domain – this includes meeting/exceeding the official minimum financial and non-financial targets
  • responsible and accountable for adhering to your departmental mandates
  • responsible(Where applicable) responsible for leading, directing and managing staff within your team to ensure that they (i) understand their responsibilities and duties applicable to their roles, (ii) comply with the Firm’s policies and procedures and (iii) conduct themselves in a way which is commensurate with the Firm’s values;
  • responsible and accountable for managing and monitoring your departmental/applicable books risks and associated controls to control the Firm’s exposure within predefined limits prescribed by Risk Management and established by the Firm’s Risk Management Committee;
  • responsible and accountable for adhering to the Trader Charter
  • responsible and accountable for conducting business in line with internal policies and procedures as well as regulatory requirements
  • responsible for maintaining and enhancing good working relationships between the relevant XVA Management department and stakeholders, including business and control / infrastructure teams globally;
  • responsible for contributing to the effective management of direct budget expenditures where required
  • responsible for working in partnership with broader GM, GCIB and JCIB teams to develop the business globally
Risk ManagementAs a member of the XVA Management/ Rates you will be responsible for identifying, monitoring and taking and taking actions (incl. escalations where applicable) further to your delegated authority in respect of, the risk being run across your product / domain. You will be:
  • responsible for pricing accurately all new transactions and all risk positions; including through the use and continued development of market-leading pricing and hedging methodologies
  • responsible for the management of all relevant risks (including, but not limited to, market, credit, operational, conduct and xVA risks applicable to your product/domain) within the Firm’s risk appetite; including through the use and continued development of market-leading risk management models and monitoring tools. Specifically you will be accountable and responsible for ensuring compliance within approved risk limits for your XVA Management/ Rates
  • responsible for ensuring that you conduct business in line with regulatory requirements (including but not limited to Volcker, EMIR and MIFID).
  • responsible and accountable for the escalation of issues identified in the ordinary course of your business. This includes, but is not limited to issues relating to risk management, regulatory risk compliance and operational risks
  • responsible for protecting and enhancing the Firm’s, and the Group’s, reputation in all activities
Franchise Development (where applicable)
  • responsible for delivering and growing a sustainable, client-focussed, flow-oriented, business
  • responsible for maximising profitability from leveraging and enhancing the Group’s customer franchise.
  • responsible for working in partnership with Sales, Trading and Research in MUS International to deliver products that meet the needs of our clients.
  • Responsible for working in partnership with other parts of the Group to deliver franchise and business growth
4. Controls and ComplianceYou are responsible for ensuring the Company’s compliance with internal risk and compliance requirements, controls and procedures, including but not limited to:
  • Responsible personally, following all relevant policies and procedures, and ensuring those in your teams also follow policy and procedures.
  • (Where applicable) responsible for leading, directing and managing the staff within your team to ensure that they (i) understand their responsibilities and duties applicable to their roles, (ii) comply with the Firm’s policies and procedures and (iii) conduct themselves in a way which is commensurate with the Firm’s values;
5. People (If applicable)You will manage and/or contribute to the following matters, appropriate for above departments, in conjunction with your unit head:
  • authority for building (via recruitment, restructuring and internal development) a team of high-quality professionals that will achieve the objectives of your product/domain, the business unit, international platform and the broader MUFG Group to leverage the strategic advantages;
  • accountable for ensuring that all staff in your remit are fully trained and understand what is required of them in order to do their jobs effectively, including ensuring that job descriptions, objectives/personal development and performance reviews are provided for all staff at least once a year in accordance with Human Resources requirements, continually monitoring their competency in order to meet the requirements of the relevant regulator’s training and competency regime, handling appropriately any grievance or disciplinary issues; and
  • accountable for ensuring that any responsibilities that you have delegated to other staff, including those in respect of regulatory obligations (where applicable), are appropriately apportioned and controlled and documented. Ensure that the staff in question have a clear understanding of these duties so as to ensure that the business and affairs of the] function can be adequately monitored and controlled
6. Relationship with other functions and stakeholders
  • Maintain and enhance good working relationships with stakeholders, across the region and globally to share best practices, provide support and develop effective local policies and procedures appropriate to the Company, and working in support of the One MUFG and overall Group strategy.
WORK EXPERIENCEEssential:
  • Experienced XVA trader (8+ years).
  • Experience with corporate and financial institution client flows.
Preferred:
  • Experience with inflation risk is preferred.
SKILLS AND EXPERIENCEFunctional / Technical Competencies:Essential
  • Experience working closely with quants
Preferred:
  • Direct modelling/coding experience a plus
Education / Qualifications:Essential
  • Bachelor degree in a technical subject (e.g. Maths, Physics, Engineering, Operations Research, Economics, Finance etc) or equivalent work experience.
PERSONAL REQUIREMENTS
  • Excellent communication skills
  • Results driven, with a strong sense of accountability
  • A proactive, motivated approach.
  • The ability to operate with urgency and prioritise work accordingly
  • Strong decision making skills, the ability to demonstrate sound judgement
  • A structured and logical approach to work
  • Strong problem solving skills
  • A creative and innovative approach to work
  • Excellent interpersonal skills
  • The ability to manage large workloads and tight deadlines
  • Excellent attention to detail and accuracy
  • A calm approach, with the ability to perform well in a pressurised environment
  • Strong numerical skills
  • Excellent Microsoft Office skills
  • A confident approach, with the ability to provide clear direction to your team
  • Excellent managerial/leadership experience
  • The ability to lead a high performing team
  • A strategic approach, with the ability to lead and motivate your team
  • The ability to articulate and implement the vision/strategy for the XVA desk
We are open to considering flexible working requests in line with organisational requirements.MUFG is committed to embracing diversity and building an inclusive culture where all employees are valued, respected and their opinions count. We support the principles of equality, diversity and inclusion in recruitment and employment, and oppose all forms of discrimination on the grounds of age, sex, gender, sexual orientation, disability, pregnancy and maternity, race, gender reassignment, religion or belief and marriage or civil partnership.We make our recruitment decisions in a non-discriminatory manner in accordance with our commitment to identifying the right skills for the right role and our obligations under the law.

MUFG