Founded in 1908, CIT (NYSE: CIT) is a leading national bank empowering businesses and personal savers with the financial agility to navigate their goals. We believe in helping customers turn their ideas into outcomes. Whether those customers are building a business or building their savings, CIT has the experience and agility to empower them to achieve their goals. At CIT, how we do business is just as important as what we do. Our social responsibility programs focus on driving financial and personal empowerment, supporting the environment and advancing wellness. CIT contributes to communities where we live, work and do business through charitable donations, community investments and employee volunteerism.
Significant role reporting to Chief Investment Officer in CIT Corporate Treasury. The Director of hedging and market risk manager assists Chief Investment Officer in establishing the principles of hedging and market risk management for managing CIT market risk on balance sheet, implementing the hedging strategies as well as hedging execution.
- Collaborative with ALM function on enhancing market risk and hedging analyses to formulate hedging and market risk proposals and initiatives
- Partner with middle office and back office functions to design and enhance trading process flow, solve any trading issues, and update risk policy and desk procedures as necessary
- Assist in managing balance sheet market risk and assessing new hedging activities and strategies
- Provide analytic support in establishing and calibrating market risk and hedging limits, ALCO thresholds and early warning indicators to help manage market and credit risks inherent in CIT balance sheet
- Perform pre-hedge analysis in accordance with regulatory guidance, and follow applicable CIT Hedging and Risk
- Management policies and protocols
- Perform pre-hedge analysis in accordance with regulatory guidance, and follow applicable CIT Hedging and Risk Management policies and protocols
- Collaborative with accounting groups to implement hedge accounting protocols
- Excellent analytical skills, and assist with enhancing market risk and hedging analytical framework to demonstrate proper risk mitigation efforts
- 10-15 years of trading and risk management experience in interest rate , and foreign currency areas , with at least 10 years of working experience in managing interest rate and foreign currency risks and hedging portfolio and market risk for banks, and regulated banking entity
- Exhibits strong risk management mind set not trading
- In-depth understanding of mechanics and dynamic of the interest rate derivate and foreign currency market structure as well as a strong understanding of primary drivers and risk factors of interest rate derivative and foreign currency valuations and cash flows
- Self-starting but collaborative: ability to work with team of highly skilled professionals, collaborating work flow and tasks, and measuring and driving performance
- Demonstrate ability to prioritize deliverables in a high pressure business
- Excellent verbal and written skills, including the ability to communicate sophisticated concepts clearly and professionally ,prepare and produce quality presentations to senior management, ALCO and other management and board level committees in a timely manner
- Adept at analyzing risk and developing compelling risk management proposals which meet the Company's criteria demonstrate Excellent analytical and quantitative skills
- Able to develop and maintain a control framework - drafting policies/procedures, structuring metrics, understanding protocols, Volcker rules, and security trading laws, escalating and remediating risk issues with appropriate organization and oversight
- Has deep understanding of; cash and derivative rate markets including operations and risk systems, banking industry and asset liability management, banking regulation and accounting, macroeconomic principals, monetary policy
- Preferably 5 to 10 years of user experience with BlackRock Aladdin, Yield book, and Bloomberg or other industry well known fixed income analytical tools and applications. Proficient with excel and power point applications
- Knowledge of trading desk process flow, and work with Middle office to enhance trading process and flow is preferred.