Risk Management - Risk Associate
About The Position
As an Associate on the Chief Investments Office Market Risk team within Risk Management and Compliance, you will support the second line of defense by partnering with Home Lending businesses, including Pipeline Warehouse, Non-Agency Warehouse, and Mortgage Servicing Rights. You will help monitor, analyze, and report interest rate, spread, prepayment, and liquidity risks across Agency MBS, RMBS, and other structured products. Under the guidance of senior risk managers, you will contribute to daily risk coverage, limit monitoring, stress testing, and scenario analysis, and deliver clear risk insights for management and governance forums.
Requirements
- Minimum 2 years of relevant experience in market risk, front office, treasury, risk analytics, product control, or a similar role, with mortgage or structured products exposure such as Agency MBS, RMBS, MSR, or rates/volatility products.
- Bachelor’s degree in finance, math, engineering, economics, business, or computer science.
- Working knowledge of market risk concepts and metrics such as VaR, stress testing, DV01/delta, and gamma/convexity; familiarity with spread and prepayment risk.
- Strong quantitative and analytical skills, high attention to detail, and ability to translate analysis into clear takeaways.
- Strong written and verbal communication skills and comfort collaborating with trading, risk, product control, and technology partners.
- Ownership mindset, including ability to manage defined workstreams independently, prioritize effectively, and escalate issues appropriately.
- Strong controls orientation, including documentation, reconciliations, data quality checks, and process discipline.
Nice To Haves
- Familiarity with spread and prepayment risk.
- AI adoption experience applying AI tools to improve analysis, reporting, documentation, or controls.
- Python experience.
Responsibilities
- Support market risk coverage for Home Lending Residential Loans desks, including Agency, Non-Agency, MSR, and hedges such as swaps, futures, options, and TBAs.
- Monitor daily risk measures and key changes in market risk, trading activity, and risk profiles; escalate notable moves and issues with clear context.
- Prepare regular risk updates covering market moves, P&L drivers, limit usage, and key risks for senior management and risk forums.
- Perform product- and trade-level analyses to identify material risks, concentrations, and emerging vulnerabilities, including rates and spread moves, prepayment impacts, convexity, and basis.
- Assist with review of portfolio risk sensitivities, Value-at-Risk (VaR), stress results, and limit management; support documentation for limit exceptions as needed.
- Contribute to the design, implementation, and maintenance of stress scenarios and ad hoc scenario requests; improve documentation and repeatability.
- Support new product and new trade reviews by gathering analysis and summarizing risks for approval materials and risk frameworks.
- Partner with Middle Office, Operations, Compliance, Technology, and Product Control to resolve data, booking, and reporting breaks and strengthen controls.
- Help enhance risk reporting and analytics through automation and improved data quality checks.
Benefits
- Comprehensive health care coverage
- On-site health and wellness centers
- Retirement savings plan
- Backup childcare
- Tuition reimbursement
- Mental health support
- Financial coaching
- Competitive total rewards package, which may include commission-based pay and/or discretionary incentive compensation for eligible roles
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
