Head of Treasury Risk
Central London
Type of Contract: Permanent
Reporting to: Head of Risk
Summary
ClearToken CCP is seeking a head of Treasury Risk to sit within the first line risk team, reporting to the Head of Risk. ClearToken is building a Central Counterparty (CCP) for the digital markets, offering the benefits of traditional market structure concepts of centralised clearing and settlement for emerging digital assets. We aim to remove counterparty risk across settlement and transaction processes by enabling all participants to face the CCP rather than each other. Our goal is to streamline transactions, increase capital efficiency and reduce risk.
Role Description
This is a key role in the risk team of a firm applying for recognition as a CCP with the Bank of England. Whilst the application process is ongoing (expected to take several months) the candidate should act as Risk SME, covering the full range of first line risk activity required to complete a detailed and demanding regulatory application. This is for a company seeking to form an important piece of market infrastructure for the future of the cryptocurrency and digital asset markets. The role is in a rapidly growing company and will involve early responsibility in a close-knit, high performing team serving a dynamic, fast changing industry.
The ability to cover the full range of activities required for risk management in a complex financial organisation would be of huge benefit, as would being able contribute to non-risk discipline projects across the wider firm. Experience in liquidity risk and liquidity management would also be an advantage.
Applicants will have strong technical experience, come from a financial background, and have experience in areas such as market or Treasury, XVA, model validation and back-testing, quantitative analysis, margin model design, regulatory engagement, policy writing, and the enterprise risk management framework. ClearToken is a dynamic environment and being able to work closely with colleagues from other disciplines to land key commercial and regulatory goals will be vital.Strong interpersonal skills and being able to work on projects extending beyond just the risk discipline are vital.
Role Objectives
This is role will involve creating components of the Risk management architecture of a CCP covering. This is a senior role in a small team and the individual would initially be responsible for:
* As a Risk SME prior to go-live as a regulated CCP in the UK, the role is to help ensure the risk aspects of the CCP submissions to the bank of England are successfully completed whilst working as a senior leader in the Risk Team at ClearToken:
* Ensure all regulatory submission self-assessments are correct and fully completed. This is across all submissions.
* Author Collateral, Liquidity and Investment Area of Interest Submissions, Default Management Submission and provide additional advice for Capital and Winddown Submission.
* Provide timelines and planning, which will need to be agreed with the BoE, regarding when Treasury and liquidity capabilities will be delivered pre-submission, pre-mobilisation and post-mobilisation.
* Work as part of wider risk team where backfill is required, in particular when ClearToken is a small organisation with limited or no income.
* Once CCP authorisation is achieved the CCP will go into mobilisation and the role will focus on standing up the treasury risk and liquidity management function:
* Designing ledger reporting from NRTC to support risk liquidity monitoring. Advise on systems and controls to be put in place.
* Ensure execution of investment meets goal of ClearToken and regulatory requirements (note that in Regulatory Capital, Dedicated Own Resources of the CCP (a.k.a. 'CCP Skin in the Game') and Member Collateral all have very strict regulatory requirements placed on them.
* Advise any systems (and these could be home grown reporting relying on NRTC) required for Treasury Management.
* Ensure that Collateral management is in place to meet: Risk monitoring requirements, allow members to track their balances, That collateral submitted meets all of ClearToken's goals re concentration, type, liquidity etc.
* Run Risk required Stress Testing and Default Management testing of Treasury Function required of the investment function.
* Coordinate liquidity provision, balance sheet reporting and regulatory capital reporting with the Finance Function & CFO who are a key-stakeholders in the Treasury function.
* Plan for future resourcing of Treasury/Treasury Risk Team.
Qualifications and Skills:
Candidates should have:
* A strong technical/scientific/mathematical background from either education or experience.
* 10+ years experience in the finance industry / financial market infrastructure. Experience at least one of the following disciplines would prove very useful:
* 1st Line risk and or 2nd line risk (including Risk and Controls Self-Assessment and Enterprise Risk Management Frameworks), ideally at a CCP.
* Treasury management and collateral optimisation at a financial firm.
* Cryptocurrency / digital asset experience would also be helpful but not vital.
* Some IT skills; Python, excel, vba, database will all prove useful as will experience in design, creation and maintenance of risk or trading models.
Salary £150,000/year
Full Health and Pension Benefits