Regional Heads of Risk are independent risk management experts within the independent Global Risk Management (GRM) team, specialised by investment platform and by regional regulatory environment, with a broad mandate to provide an independent oversight of all key risks in each investment platform and region which they may be directly or indirectly exposed to, and to act as the key contact point between the platform, the local organisation and the rest of GRM. Within this mandate, Regional Heads of Risk provide risk assessments on existing and new business, review investment processes, perform liquidity, capacity and performance reviews, and report on significant risk matters to relevant governance bodies.
The US Head of Risk conducts local oversight over the US Core (US Fixed Income) and Alts activities (Structured Finance and Real Assets). The US Head of Risk collaborates with the Paris based risk team covering Alternatives to have a shared view of the Structured Finance and Real Asset activities in the US. Key Accountabilities
Relationship with Investment/management teams
- Ensures that the risk management framework is implemented across the full scope of activities conducted in the US, covers all regulatory and internal requirements and conforms to industry best practices, including local and global requirements which the business operates.
- Manages the risk management program, according to global and local standards, highlights key risks of the US investment platform and provides appropriate reporting to the relevant local and global governance committees.
- Collaborates with the Alternatives SERM team to have a full understanding and oversight of the risk team approach on Americas Alternatives business (Alternative Credit and Real Estate), both receiving the necessary information in order to represent the Risk view to local governance, and providing local back-up / support/ information to the Alternatives SERM team on the relevant activities in the US, and in implementing local solutions and policies to support and control and Alternatives platform where needed, in coordination with Alternatives SERM Team.
- Coordinates investment risk management oversight, including portfolio management activities and periodic investment reviews with the investment teams covering US Fixed Income and participates in relevant first line investment or controls committees. Ensure full and systematic coverage of Investment risks such as liquidity, counterparty, as well as valuation and best execution risks. Escalates potential risks to both local and global governance/senior management
- Reviews and validates new business or new product proposals covering US Fixed Income. Provides an independent assessment of the risk / return profile of new funds and mandates as well as the funds/mandate compliance with investment processes.
- Coordinates operational risk management in relation to the Americas business, including periodic risk assessments, risk heat maps and controls plans; incident escalation and resolution; internal and external audit matters, review of critical business processes; and business continuity. Contribute actively to Global Operational Risk initiatives.
- In collaboration with the compliance and legal functions, maintains an appropriate risk management framework, address regulatory requests and audits, anticipates and implements changes to the regulatory and business environment, and ensures consistency with the AXA Group and AXA IM Standards and any applicable risk related regulations.
- Contribute to the continuous Target letter process for the US Fixed Income scope.
- Provides senior management both within GRM and the local entity with an independent view of consolidated risks under scope. Reports periodically to the US Board on risk management matters and to Global Risk Committee and represents Risk Management in relevant local governance committees.
- Oversees the Investment Guidelines activity in Greenwich and liaises with the global IG team on the scope and service delivered to the platform in scope.
- Manages, supports, grows the team of Risk and Investment Guidelines professionals responsible for investment, operation and business risk management.
Leadership role within GRM
- Be the GRM link with the investment teams and regional senior management of the Investment Platform and entities
- Represent GRM at 1st and 2nd level control committees / forums to which the CRO is a participant or attendee
- Channel GRM's position on the asset classes under scope at relevant global and local governance committees and boards.
Your Profile Qualifications, Experience/Skills and Key Competencies
- Provide Operational Risks teams, Investment Risks Analysts and relevant SERMs with high-level insight on key risk areas, mitigation plans, methodologies and frameworks in relation to the scope of assets under oversight by the CRO
- Drive risk teams' analysis in coordination with Department Heads or relevant hierarchical managers
- Develop and maintain investment platform understanding within GRM teams
- Be the Global Risk Management contact for US regulators and represent Risk in client pitches and due diligence meetings
- Manage and develop the team risk and IG professionals in the US. Provide support and provide feedback in the appraisal and compensation setting process for the US risk team.
- Master Degree educated, ideally in a subject with a strong financial and/ or quantitative element
- Deep knowledge of various investment products and strategies
- Understanding and working knowledge of fixed income instruments, leverage finance (CLOs, loans), Commercial Real Estate Equity and Debt fundamentals, securitized products prepayments and waterfall structured.
- Significant experience in the Asset Management industry (at least five to seven0 years plus); previous experience in a hands-on risk role mandatory, while prior experience as an investment manager would be a plus
- Excellent interpersonal and communication skills, displaying confidence and integrity
- Pragmatic outlook to managing risk, balancing the requirement to be independent with the proven ability to work with the first line to achieve solutions in a risk appropriate manner
- Ability to learn very quickly and act in a self-sufficient manner
- Ability to articulate and present complex issues to a non-expert audience
- The US Head of Risk must demonstrate a high degree of ethics, should be comfortable representing an independent Risk Management view and challenging the business as well as have the interpersonal skills to do this in a productive manner.
The AXA Group is a global leader in insurance and asset management, with 160,000 employees serving 105 million customers in 62 countries.
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At AXA IM we are investing with a clear purpose - to make the world a better place. We act for human progress by investing for what matters. Our conviction-led approach enables us to uncover what we believe to be the best global investment opportunities across alternative and core asset classes. We are already entrusted by our clients with more than €887 billion in assets.
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