Job ID: 3193471 Full/Part-Time: Full-time
Regular/Temporary: Regular Listed: 2019-06-13
Location: New York, United States of America
The Risk division has a fundamental responsibility to protect the Bank. With group-wide responsibility for the management and control of credit, market, operational and reputational risks, we have a unique vantage point which allows us a holistic view of our businesses and our clients. Nearly 4,000 employees work together to achieve our ambition to be an industry-leading risk management organisation.
In an increasingly complex environment, risk management is fast-becoming the most sought after place to build a career within the banking world. Risk at Deutsche Bank is relied upon to help shape the strategy of the organisation and the wider industry agenda.
Job Title: Hedge Fund Credit Officer
Corporate Title: Vice President/ Director
Location: New York, NY
The Hedge Fund Credit Officer will be responsible for assisting in managing Deutsche Bank’s counterparty credit risk to Americas based hedge fund clients. You will have your own dedicated fund’s portfolio, spanning a broad range of investment strategies, and will be responsible for approving transactions, as well as reviewing and monitoring the counterparties on an ongoing basis.
The team ultimately reports into the Global Head of Hedge Fund Credit, based in New York. Hedge Fund Credit Risk Management provides credit risk management and oversight across Deutsche Bank’s Global Markets division, including both franchise and prime brokerage businesses.
What We Offer You:
We offer competitive health and wellness benefits, empowering you to value life in and out of the office
Retirement Savings Plans, Parental Leave, and other family-friendly programs
On-site cafeteria, health center, and communal meeting areas
Active engagement with the local community through Deutsche Bank’s specialized employee groups
Hear from our people and look inside our office: DB@The Muse
What You’ll Do:
Undertake initial credit due diligence for new clients by way of meetings with relevant personnel at the fund manager to fully understand the investment process and strategy, risk management approach and products traded (the credit officer would be expected to run these meetings). The credit officer will then approve appropriate credit limits, margins and documentation terms on the back of their risk assessment of the hedge funds based on information gathered at the meetings and the relevant constitutional documentation provided by the client
Review and approve transaction requests for private equity funds, which typically include FX hedging and deal contingent trades. The credit officer will engage closely with the sales team to review proposed trade/legal structures and diligence private equity funds as part of the approval process
Play a key role in the legal documentation process to ensure that appropriate credit covenants are included in legal agreements to allow Deutsche Bank to take action to close out portfolios and terminate trades in the event of a default or any credit deterioration (e.g. a sharp deterioration in performance)
Ongoing dialogue and due diligence with clients and preparation of annual credit reviews, written reports which outline areas including the background of the fund management company, investment strategy of underlying funds, risk and liquidity management, and performance. This written report will highlight the key risks associated with each counterparty and outline the credit officer’s view of the group/funds
Manage the risk and exposures within their portfolio on an ongoing basis, using the various credit risk management and product monitoring systems within Deutsche Bank, including internal stress test information, exposure data and performance/portfolio data received on a regular basis from hedge funds
Keep up-to-date with market developments affecting the hedge fund sector, e.g. regulatory issues or weakness/stress in particular asset classes
How You’ll Lead:
Manage and Direct NY team members
Manage relationship with trading desks and other infrastructure functions, ie Operations, Technology, as well as clients
Skills You’ll Need:
Degree level education or equivalent
Relevant industry experience in managing hedge fund credit risk. You will also have prior experience in managing private equity credit risk
Skills That Will Help You Excel
Knowledge of hedge fund sector, which should include an understanding of a broad range of investment strategies and their associated risks
Product knowledge should cover all major derivative instruments and Prime Brokerage products/services with a full understanding their respective risk characteristics. Ability to calculate and quantify transaction risk is also desirable but not essential
Understanding of master trading documentation, particularly International Swaps and Derivatives Association (ISDA), Global Master Repo Agreements (GMRA), Futures and Options (F&O) and Prime Brokerage. This should include sound understanding and knowledge of the principal risk mitigating clauses employed across the industry
A confident decision maker able to competently explain the reasoning, which supports credit decisions
A self-starter, able to manage their own workload with minimal guidance from senior members of the team
About Deutsche Bank
We are Germany’s leading bank with strong positions in Europe and significant presence in the Americas and Asia Pacific. We’re driving growth through our strong client franchise, investing heavily in digital technologies, prioritizing long-term success over short-term gains, and serving society with ambition and integrity. We serve our clients’ real economic needs in commercial and investment banking, retail banking and transaction banking, and provide ground-breaking products and services in asset and wealth management. That means a career packed with opportunities to grow and the chance to shape the future of our clients.
For candidates applying for positions in the US:
Deutsche Bank is an Equal Opportunity Employer - Veterans/Disabled and other protected categories. Click these links to view the “ EEO is the Law ” poster and pay transparency statement.