BBVA
SFT Risk & Hedge Fund Financing - Senior Risk Manager
How your CV stacks up
Upload your CV to see how well it fits this job role
?%
BBVA - Global Markets Risk Unit – Global Valuation Team
Excited to grow your career? BBVA is a global company with more than 160 years of history that operates in more than 25 countries where we serve more than 80 million customers. We are more than 121,000 professionals working in multidisciplinary teams with profiles as diverse as financiers, legal experts, data scientists, developers, engineers, and designers.
You will be part of the Global Markets Risk Unit – Global Valuation Team. Global Valuation is a specialized function within the Global Markets Risk Unit (GMRU) responsible for the independent valuation and price verification of financial instruments traded by the Global Markets business. The team ensures that fair values used for financial reporting, risk management, and regulatory purposes are accurate, consistent, and compliant with accounting and regulatory standards. It also oversees valuation methodologies, reserves, model governance, and valuation adjustments (such as prudent valuation), providing independent challenge to Front Office pricing and strengthening the integrity of the bank's balance sheet and risk framework.
About the Job
We are seeking a high-caliber risk professional, based in London, to join the Global Markets Risk Unit with responsibility for the independent oversight of Hedge Fund financing activities across Repo, Reverse Repo, Securities Financing Transactions (SFTs), Prime Brokerage, and related financing products. The role sits at the intersection of counterparty risk, collateral risk, liquidity risk, and market risk, providing independent challenge and risk stewardship over complex financing relationships with institutional clients.
The successful candidate will assess financing structures, collateral portfolios, leverage dynamics, and liquidity vulnerabilities across a broad range of Hedge Fund strategies, ensuring that risk appetite remains aligned with market conditions and the firm's balance sheet objectives. This position offers significant exposure to senior management, Front Office, Treasury, Credit Risk, Market & Counterparty Risk, and requires the ability to make sound risk judgments in fast-moving market environments.
Key Responsibilities
- Securities Financing Transactions (SFT) & Repo Risk:
- Monitoring: Review, monitor, and elaborate presentations on secured financing volumes and structures across bilateral and triparty repo transactions, including Risk Adjusted measures.
- Optimize framework: Evaluate SFT framework, including counterparty and collateral eligibility matrixes, haircut methodologies, concentration limits, and funding tenors.
- Stress test: Assess the resilience of financing structures under stressed market conditions, including collateral price shocks, liquidity deterioration, and funding market disruption.
- Challenge: Provide effective challenge to financing proposals, balancing client needs with prudent risk management and balance sheet efficiency.
Reasons to use Rodeo
Start with a chat, not a search bar
Grad scheme, placement, apprenticeship? Not sure what you want yet — that's fine. Your agent talks it through with you and turns "I have no idea" into a shortlist.
It searches the market for you
Every day your agent scans the market matching roles against what actually matters to you, not just keywords on a CV.
Only hits
No noise. No "maybe this fits." Just roles with a clear explanation of why they're right — and where to focus when applying.
-
Hedge Fund Financing & Counterparty Risk:
- Perform independent risk assessments of SFT business with Hedge Fund counterparties as a relevant subset of the business.
- Be familiar with leverage profile, liquidity characteristics, funding dependencies, and operational robustness.
- Identify early warning indicators and recommend proactive risk mitigation measures.
- Understand and monitor financing capacity, counterparty risk appetite, and appropriate risk limits across financing relationships.
-
Collateral Liquidity & Stress Analysis:
- Assess liquidation risk across a broad range of collateral classes including sovereign bonds, agencies, investment grade and high-yield credit, emerging market debt, and structured products.
- Quantify potential losses arising from collateral liquidation under both idiosyncratic and systemic stress events.
- Design and execute stress scenarios incorporating market dislocation, widening haircuts, deleveraging events, and reduced market depth.
- Evaluate gap risk, wrong-way risk, and liquidity-adjusted exposure measures.
-
Portfolio & Exposure Management:
- Monitor aggregate exposures across Repo, Prime Brokerage, Securities Lending, OTC Derivatives, and other financing products.
- Assess interconnected exposures and risk concentrations across counterparties, sectors, strategies, and collateral types.
- Recommend limit changes, transaction restructuring, and escalation actions where appropriate.
-
Governance & Risk Leadership:
- Present complex risk assessments to senior management and risk committees.
- Partner with Front Office and ensure adequate and timely response, while maintaining independent risk judgment.
- Contribute to the development of risk frameworks, methodologies, collateral standards, and financing risk appetite.
- Participate in governance discussions relating to financing markets, liquidity conditions, and emerging industry risks.
What Are We Looking For?
Required Experience:
- 5–10+ years of experience within one or more of the following areas:
- Hedge Fund Counterparty Risk.
- Prime Brokerage Risk Repo and Securities.
- Financing Risk Financing and Liquidity Risk.
- Market Risk covering financing businesses.
- Counterparty Credit Risk.
- Demonstrated experience assessing complex Hedge Fund financing relationships and secured funding transactions.
- Strong understanding of leverage, liquidity, and funding dynamics across a broad range of Hedge Fund strategies.
Get help with your application
Your very own career expert that helps elevate your application to the next level.
Technical Knowledge
- Strong knowledge of:
- Repo and Securities Financing markets.
- Hedge Fund leverage, liquidity, and financing structures.
- Collateral management and optimization.
- GMRA documentation and market conventions.
- Haircut methodologies and margin frameworks.
- Liquidity risk measurement and stress testing.
- Wrong-way risk and concentration risk assessment.
- Market structure and collateral liquidation dynamics.
Desirable:
- SA-CCR.
- Basel III / Basel IV.
- EMIR and SFTR.
- Securities Lending.
- OTC Derivatives.
- Balance Sheet optimization, RWA, NSFR, and LCR considerations.
- Python, SQL, or other quantitative analysis tools.
Candidate Profile
We are particularly interested in candidates who demonstrate:
- Strong commercial judgment and risk ownership.
- Ability to challenge Front Office and senior stakeholders with credibility and confidence.
- Deep understanding of financing, liquidity, and collateral risks.
- Strong analytical and quantitative capabilities.
- Ability to identify emerging risks before they become visible through traditional risk metrics.
- Sound decision-making under stressed market conditions.
- Intellectual curiosity and a strong understanding of market dislocations and historical financing crises.
Please note that priority will be given to candidates who are eligible to work in the UK.
Skills
- Counterparty Risk
- English Language
- Liquidity Risk
- Market Risk
- Microsoft Excel
- Murex
- Profitability Analysis
- Python (Programming Language)
- Python for Data Analysis
- Regulación bancaria europea y Supervisión
- Regulatory capital (Risk Management vision)
- Stress Risk Assessment
Don’t miss any opportunity and... upload your CV! You will join our Talent Community so that we can send you future opportunities that match your profile.
Leave your resume
We are more than 121,000 colleagues across 25 countries, working in multidisciplinary teams where we understand the importance of work-life balance. We support our clients in the energy transition and are committed to inclusive growth. We are pioneers in adopting disruptive technologies that will shape the financial industry. Dare to define the future of banking!
“It took my CV and asked me questions relevant to understanding what kind of jobs to suggest for me. Suggestions were almost perfect. Jobs were exactly what I’ve been looking for.”
Jessica, London
Skills
Location