134 Financial Risk Manager jobs in London

We're Hiring: Market Risk – Fixed Income Credit (FIC) | Associate/VP | London

We're working with a leading global financial institution to find a high-impact Market Risk professional to join their London-based team. This is a unique opportunity to take ownership of market risk oversight across a dynamic and complex Fixed Income Credit trading business , including corporate bonds, CDS, indices, and structured credit instruments .

If you have strong FIC knowledge, solid technical risk expertise, and are looking to step into a role with high visibility across the front office and senior risk leadership — we want to hear from you.

What You’ll Be Doing

As part of the Second Line of Defence , you'll play a central role in monitoring and challenging risk-taking across FIC desks. You’ll:

Oversee daily market risk on trading positions (cash credit, CDS, credit indices, and derivatives)

Analyse and explain VaR/SVaR , risk sensitivities, and stress scenarios

Deliver meaningful P&L explain and help drive effective backtesting

Contribute to new product assessments and risk approvals

Collaborate closely with Front Office, Finance, Regulatory Reporting , and other key stakeholders

Engage in risk governance forums and support regulatory deliverables

Monitor macro and market events impacting credit markets in the UK, US, and EM

Key differential factors for this client

1) Close proximity to Trading. Sitting on the same floor as Traders with a strong relationship fostered with the front office.

2) Leading global Head of Market Risk to mentor and develop you.

3) Fantastic team

What We’re Looking For

We're seeking an experienced and confident risk practitioner who can provide real-time risk insight, engage in challenge, and help refine the firm’s FIC risk management approach.

5+ years' experience in Fixed Income Credit across Market Risk, Product Control, or Trading

Strong understanding of credit products : cash bonds, CDS, indices, structured credit

Hands-on expertise in VaR, stress testing, capital risk metrics (e.g., ECap, FRTB)

Able to build effective relationships and influence at senior stakeholder level

Analytical, detail-oriented, and intellectually curious

Your Background

• Degree in Finance, Economics, Mathematics, Engineering , or a quantitative discipline
• Candidates must have demonstrable product knowledge in fixed income instruments.
• Professional certifications (CFA, FRM) are advantageous
• Coding in Python or similar is advantageous

Ready to Take the Next Step?

Apply now or message us directly for a confidential discussion.

Role: Market Risk Analyst

Type: Full time

Industry: Commodity Trading

Location: London (hybrid)

A leading Commodity Trading firm are looking for a Market Risk Analyst to join their growing team. As part of the Market Risk team, you'll produce and analyze P&L and risk reports, ensuring accuracy and resolving discrepancies.

Key Responsibilities of the Market Risk Analyst include:

• Produce and analyze daily P&L and risk reports; investigate discrepancies
• Monitor and manage risk limit breaches; support limit changes or reallocations
• Identify and communicate key risk drivers to senior management
• Contribute to ETRM/reporting system enhancements and forward curve methodology
• Assist with month-end reconciliations and ensure compliance with controls/audits

Key Requirements of the Market Risk Analyst include:

• Previous experience in market risk within trading firms
• Strong knowledge of derivatives and risk metrics (VaR, stress testing etc)
• Proficient in Excel/VBA; knowledge of Python, SQL or ETRM systems is a plus
• Detail-oriented with strong analytical and communication skills

If you have the necessary experience and would like to find out more, please apply for immediate consideration!

About Us:

Zenith Bank (UK) Limited (ZBUK) is a subsidiary of Zenith Bank PLC, the most profitable bank in Nigeria with an established trajectory of superlative performance, as well a strong pedigree of innovation, resilience, and market dominance. On an annual basis, Zenith Bank PLC amasses a string of notable awards; one of the most recent being listed as the sole Nigerian brand on the World’s top 100 companies in 2023 by the World Finance Magazine.

Zenith Bank (UK) Limited (ZBUK) was set up with a clear strategy to leverage trade and investment flows between Nigeria and Europe, by providing intermediary banking services and facilities for trade-related working capital and capital expenditure.

Zenith Bank recognizes the importance of leveraging a highly skilled workforce to achieve its strategic and operational goals. The bank is committed to providing an environment that is conducive for effective performance by availing all staff the necessary learning opportunity. We value the well-being of our staff and we encourage them to strike a balance between their work and personal lives, thereby creating a healthy atmosphere for personal development and career success.

With the introduction of new services here in the UK and our unparalleled knowledge of business with Africa, our 5 year strategy ensures “Controlled Growth” as we aim to become the Bank of choice for businesses wishing to transact in the African continent.

Role Overview:

Market Risk is a 2nd Line of Defence function primarily tasked with active monitoring of the banks risk portfolios to identify, monitor, and escalate (where necessary) risks and control findings effectively, to enable timely decision making by the CRO and wider ZBUK executive. Oversight extends to infrastructure, user activity and controls, compliance with Bank Risk Appetite and associated policy / project development to support the successful delivery of wider Risk projects and other regulatory publications / requirements.

Role Responsibilities:

Identification

• For agreed risks (split by asset class, risk policy or otherwise) develop a detailed understanding of the risks, maintain on an ongoing basis an up-to-date situational awareness of the risks.

Monitoring

• Actively monitor markets to assess the potential impact of market movements and wider economic activity on the bank’s portfolio of proprietary and client-based FX, trading, and banking book products.
• Monitor limits for the Trading and Non-Trading portfolios in accordance with ZBUK’s policies approved by the Board Risk Committee.
• Report on breaches of risk management policies, limits and / or controls.
• Produce daily market risk reporting and other ad hoc reporting for senior management, Treasury, and the Board.
• Present reports in a constructive, insightful, and effective way to ensure developing risks, issues and opportunities are easily understood for decision making purposes.
• Participate in the development of systems to assist in the evaluation and analysis of risk information.
• Work with a high degree of accuracy to ensure no restatement or reworking of positions / reports is required.
• To work closely with the CRO, and the wider Risk team in enhancing and implementing new MI reports for Market & Liquidity Risk for the identification, collection, and analysis of risk information. Enhancement and automation of risk reports and tools with Excel functions and Python
• Maintaining and updating internal procedures, RCSAs and process flows

Escalation

• Providing on a weekly basis Market Risk reports to the Market Risk Committee and the Asset and Liability Committee.
• Delivering management information efficiently and in a timely manner.
• Be aware of and ensure compliance at all times with all applicable legal and regulatory requirements.

Additional Responsibilities

• Keep up to date with industry best practice and regulatory developments where this affects the risk management of the organisation.
• Update regulatory documents and models to support the Manger of Market and Operational Risk.
• Be a self-starter with a proactive approach towards self-development and broadening skills set.
• Develop tools to effectively and independently validate daily reports from Finance on liquidity and capital.
• Support and contribute to wider Risk projects and objectives as reliable and conscientious team player.

Together with the duties listed above the Market Risk Analyst is required to assist with other analytical and project work and ad hoc duties assigned by the CRO and comply with the FCA/PRA’s Individual Conduct Rules, as outlined below.

Skills and Knowledge Required:

• At least 3-5 years’ experience in Market Risk.
• Degree in a numerical / financial discipline.
• Sound understanding of derivative and foreign exchange trading.
• Driven, ambitious, self-starter who can grasp a concept quickly and deliver a reasoned investigation and analysis.
• Attention to detail, to pick up on errors and produce accurate work, grasping of the reasons for a strong control environment and operating with this mentality.
• Knowledge of Basel II, Basel III, Risk and Capital requirements.
• Knowledge of Regulatory practices within Risk and Finance in financial services.
• Positive and approachable team player, effective and supportive in working with colleagues at all levels.
• Understanding of VaR and other measures of market exposures and accounting knowledge.
• Project management experience desirable.

Software Knowledge:

• Strong IT skills, Microsoft Office package MS Excel Advanced (Essential) Python (Essential) VBA (Desired).
• MS Word and MS Outlook.
• Experience with Bloomberg an advantage, Temenos (T24).
• Calypso (Advantageous).

Specific Product knowledge required:

• Essential: Interest Rate Futures, Foreign Exchange, Interest Rate Swaps, Bonds and NDFs.
• Desired: Wholesale Money Market and Trade Finance Products.
• Desired: Awareness of Liquidity regulatory requirements.

This is a permanent position, paying up to £70,000 based on experience.

I am keen to speak with, Market Risk Specialists who are keen to take on a exciting challenge with an Investment Bank, in the middle east. This is a 6 month contract which will require you to work onsite in the middle east. Client and exact location to be discussed.

The Investment bank are implementing a new Securities Trading System and they require a Market Risk Specialist to define system specifications, design and build risk reports, establish a robust limit structure, conduct comprehensive testing, and document procedures, acting as the leading authority with minimal reliance on in-house input. As a key member of a cross-functional project team under overall project management, the Market Risk Expert will drive the project through design, build, testing, and go-live phases, ensuring alignment with business objectives and regulatory requirements. The role reports directly to the Head of Risk and the COO, who is leading the project.

Responsibilities include:

• Independently define detailed system requirements and specifications for the proprietary trading system, collaborating with the trader, IT, and other stakeholders with limited in-house expertise.
• Enhance and update the banks existing market risk governance structures, including escalation committees, model governance protocols, and clear ownership for limit monitoring, breaches, and remediation.
• Develop and implement risk reports, models, and tools to monitor traded and non-trade market risk exposures, including but not limited to; Value-at-Risk (VaR), sensitivity analysis, and portfolio stress tests, with minimal guidance from the organization.
• Design and execute backtesting models to validate VaR and other model outputs, ensuring regulatory compliance with Basel backtesting standards and regulatory requirements
• Ensure risk reporting supports regulatory capital computation and attribution, aligned with Basel II and Basel III FRTB standards
• Design and implement limit frameworks with dynamic calibration logic to ensure limits remain risk-sensitive and adaptive to portfolio composition, market volatility, and liquidity conditions, including monitoring tools that automatically adjust or flag limits as market conditions evolve
• Independently develop and validate severe but plausible market risk scenarios, aligned with regulatory expectations under CBO Circular BM-1200, and integrate these into capital and risk reporting
• Develop capital allocation models compliant with Basel II and Central Bank regulations for market risk capital and Basel III FRTB standards, including standardised and internal models approaches as appropriate.
• Lead the design and integration of market risk components into the ICAAP framework, ensuring alignment of risk quantification, capital planning, stress testing, and governance with regulatory expectations.

Requirements

• Minimum of 7-10 years of experience in market risk management within proprietary trading or investment banking environments, with a focus on bonds and equities.
• Essential : Clear, proven track record of successfully delivering similar trading system implementation projects (e.g., risk management system upgrades or new system deployments) at a previous organization, with demonstrable outcomes, achieved independently as the primary expert.
• Extensive experience in autonomously designing risk frameworks, writing risk policies, devising testing protocols, and conducting stress tests for prop trading.
• Familiarity with trading systems (e.g., Bloomberg, Murex, Calypso, or similar) and their risk management modules.
• Strong understanding of risk metrics (VaR, Greeks, stress testing) and financial instruments (bonds, equities)
• Expertise in system testing methodologies and tools, with the ability to design tests from scratch.

Benefits

1000p.d. Outside IR35.

Flights provided.