VP, Rates Market Risk

• Oversee market risk across Rates trading products
• High visibility role sitting directly on the trading floor

About Our Client

Large international bank based in Midtown.

Job Description Key Responsibilities Risk Coverage & Oversight

• Provide day to day market risk oversight for the Rates trading desks, including repo, Treasuries, swaps, options, exotics, RMBS, and munis.
• Monitor risk exposures, P&L moves, limit utilization, and key risk metrics (DV01, CS01, gamma, vega, convexity, scenario/VAR).
• Identify, analyze, and escalate significant market events, model behavior changes, or portfolio shifts.
• Partner with traders to understand trade structures, risk drivers, and potential tail risks.

Analytics, Reporting & Controls

• Review and challenge new trades, large risk changes, and complex structures before execution when needed.
• Maintain and enhance risk frameworks, stress scenarios, sensitivities, and reporting tools.
• Support daily and monthly risk reporting, commentary, and limit governance processes.
• Collaborate with quantitative teams to validate models, pricing assumptions, and risk methodologies.

Business Partnership

• Serve as a key point of contact between Risk Management and the Rates desk.
• Work closely with trading, technology, quants, finance, and compliance to ensure consistent and accurate risk representation.
• Provide insight on market themes, volatility shifts, curve moves, and macroeconomic drivers impacting the book.

Governance & Regulatory Support

• Assist with regulatory inquiries and internal audits related to market risk.
• Contribute to policies, procedures, limit frameworks, and control enhancements.
• Participate in scenario design, stress testing, and regulatory reporting initiatives.

The Successful Applicant Qualifications

• 6-12+ years of experience in market risk or a closely related function (trading assistant/desk strat, product control, quant risk, or treasury risk).
• Strong understanding of Rates products: repo, U.S. Treasuries, swaps, options, structured/exotics, and securitized products.
• Advanced knowledge of sensitivities, scenario analysis, VaR, and other market risk methodologies.
• Ability to challenge the front office effectively while maintaining strong working relationships.
• Comfort working on the trading floor in a fast paced environment.
• Bachelor's degree required; advanced degree or technical background preferred (math, finance, engineering, physics, statistics).

What's on Offer

Base salary range: $125,000-$225,000, plus discretionary bonus.