Senior Risk Analyst (18 month contract)

September 17 2020
Categories Accounting, Finance, Accounting, Finance, Analyst, Credit, Risk, Health, Medical, Information Technology, Information technology, Physicians, Security, Continuity, Risk
Toronto, ON
The Post Trade risk management team’s mandate is to ensure that all required procedures, models, systems, reporting and governance are in place so that CDS and CDCC financial risks are managed according to TMX risk appetite and policy.

TMX Post Trade’s Risk Management Team utilizes a matrix management structure to conduct first and second line of defence risk management functions for both CDS and CDCC. The risk exposure types managed by the Post Trade Risk Team include credit risk, market risk, liquidity risk, model risk and operational risk. To carry out its mandate, the Risk Team employs sophisticated financial risk models, validation frameworks, risk measurement and reporting systems. The Risk Team collaborates with many internal and external stakeholders including CDS Participants and CDCC Clearing Members, our regulators and our TMX Group partners.

Since CDS and CDCC were designated as systemically important by the Bank of Canada in 2012, TMX Post Trade’s role is to ensure the integrity and stability of the markets that it supports. It further takes the necessary actions to help ensure that the Canadian financial markets meet the G20 commitments.

Role Summary
Reporting to the Director, Risk Management Oversight, the Senior Analyst helps improve TMX Post Trade’s risk measurement, management and governance practices to ensure we maintain high risk management standards in compliance with CPSS-IOSCO Principles for Financial Market Infrastructure (PFMI’s). Drawing on his/her expertise, the Senior Analyst finds practical solutions to complex quantitative problems by focusing on the relevant risk factors embedded within the risk profile of the clearinghouses’ asset class and service offerings. The Senior Analyst also contributes actively to the development, oversight and usage of TMX Post Trade groups’ market, credit and liquidity risk management models & tools including providing effective challenge to the first line.

The Senior Analyst, Financial Risk Management role includes the following functions:

  • Provide expert support in risk measurement and quantitative analysis related to equity, fixed income and derivatives products
  • Actively participate in the development and oversight processes for financial risk management models, systems and reports including providing effective challenge to first line
  • Collaborate in the production of risk management measures and reports (e.g. backtesting, stress testing, sensitivity analysis)
  • Develop and maintain metrics on participants’ risk levels (i.e. outstanding positions and counterparty creditworthiness monitoring) and prepare analyses summarizing results
  • Document financial risk monitoring and default management processes, and make recommendations to streamline current processes and improve efficiency
  • Partner with IT development teams (internal, external) to modernize CDS’ risk management infrastructure including Default Management capabilities enhancement
  • Partner with legal teams for filings related to new rules, rule amendments, and regulatory guidance
  • Support and enhance TMX Post Trade default management preparedness including automation of default auction administration tools and execution of annual industry-wide default simulation exercises
  • Participate in the onboarding and ongoing assessment of CDS and CDCC participants including annual due diligence and quarterly creditworthiness assessment

Skills and Experience

  • Minimum 3 years of experience in the financial industry with focus on market/financial risk management in a quantitative role (e.g. market, liquidity, or credit risk measurement and management)
  • Highly motivated self-starter who is flexible and thrives on working collaboratively in a goal oriented, high performance team environment
  • Sound knowledge of financial risk management concepts and techniques, such as Value-at-Risk
  • Excellent quantitative and data analysis skills with ability to manage multiple tasks and meet tight timelines without compromising the integrity of information
  • Good communication skills, both written and verbal, including ability to explain, summarize, synthesize abstract financial concepts
  • Self-confidence, positive attitude, pragmatism
  • Strong technology and information system skills, e.g. SQL, VBA, Matlab, R


  • Master’s degree in a quantitative finance discipline such as Economics, Finance, Mathematics, Statistics or equivalent
  • Completed or working towards CFA, FRM or PRM designations

TMX is committed to creating and sustaining a collegial work environment in which all individuals are treated with dignity and respect and one which reflects the diversity of the community in which we operate. We provide accommodations for applicants and employees who require it.

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