DBS Bank Singapore | ED/SVP, Hedge Fund Credit Risk Manager, Risk Management Group

Key responsibilities

• We are seeking an experienced Hedge Fund Credit Risk Manager to join our dynamic team in Singapore, reporting to the Head of Hedge Funds & Institutional Equities Credit Risk.
• The successful candidate will be a senior member of the Global Financial Markets Credit Risk team responsible for the assessment, monitoring, and management of credit exposures to Hedge Fund and High-Frequency Trading (HFT) firm counterparties.
• This role requires deep expertise in counterparty credit risk arising from derivatives, prime brokerage, securities financing transactions (SFTs), and cash trading activities.
• As an experienced individual contributor, the role holder will lead complex credit assessments, challenge front-office proposals, represent Credit Risk in committees, lead development of risk projects and mentor junior colleagues.
• Assess investment strategies, portfolio compositions, leverage profiles, liquidity positions, and risk management frameworks of hedge fund and HFT clients.
• Evaluate counterparty financial statements, NAV reports, performance track records, AUM, redemption terms, and investor concentration.
• Analyse trading strategies and their risk-return profiles, including directional, relative value, event-driven, distressed, macro, and statistical arbitrage approaches.
• Monitor daily and intraday exposure utilisation against approved limits, particularly for HFT counterparties with high-velocity, high-volume trading activity.
• Analyse margin requirements, collateral positions, and haircut adequacy under both normal and stressed market conditions.
• Oversee and escalate limit breaches, excesses, and exception requests with appropriate risk-mitigating recommendations to the business.
• Provide recommendations and approvals for complex transactions and portfolio deals.
• Analyze exposure metrics, including VaR and stress scenario analysis, to identify potential risks and recommend effective mitigation strategies.
• Ensure adherence to regulatory requirements and internal risk governance frameworks related to counterparty credit risk.
• Design, implement, and perform comprehensive stress tests and scenario analyses on hedge fund client portfolios.
• Analyze client portfolios regarding strategy, mandate, leverage, financing, and concentration risks (by position, sector, geography).
• Contribute to stress testing frameworks and model calibration (e.g., haircut grids, Initial Margining Models, Back testing).
• Review and provide credit risk input on legal documentation including ISDA Master Agreements/Credit Support Annexes (CSA), GMRA, GMSLA, and prime brokerage agreements.
• Assess collateral arrangements, margining terms, threshold amounts, minimum transfer amounts, and dispute resolution mechanisms.
• Ensure credit risk terms in documentation align with approved credit decisions and risk appetite.
• Conduct thorough onboarding credit assessments for new Hedge Fund and HFT counterparties, in coordination with Front Office, Legal, Compliance, and Operations.
• Perform annual and interim credit reviews of existing counterparties, including reassessment of financial condition, strategy changes, key personnel turnover, AUM movements, and regulatory developments.
• Monitor monthly client disclosures against documented covenants.
• Present credit proposals with clear, well-supported recommendations and risk-mitigating structures.
• Engage with Front Office, Other Risk Departments, Collateral Management, Operations, and Legal teams on cross-functional initiatives.
• Ensure adherence to applicable regulatory requirements including Basel III/IV counterparty credit risk framework, SA-CCR, EMIR/CFTC margining rules, and applicable MAS (Monetary Authority of Singapore) guidelines.

Requirements

• Knowledge: Deep understanding of derivatives, prime brokerage, securities financing transactions, repo, margin lending, FX, and clearing exposures — including the associated risk metrics (PFE, stress testing, CVA).
• Knowledge: Demonstrated ability to analyse diverse hedge fund strategies (long/short equity, global macro, event-driven, distressed, relative value, statistical arbitrage) and HFT/market-making business models.
• Education: Bachelor’s or Master’s degree in Finance, Economics, Quantitative Finance, Mathematics, Financial Engineering, or a related discipline from a recognised institution.
• Certifications (preferred): CFA, FRM, or CAIA designation is highly desirable.
• Risk Quantification: Proficiency in counterparty exposure metrics (PFE, EPE, EEPE), SA-CCR methodology, internal model approaches (IMM), and CVA concepts.
• Financial Analysis: Strong ability to interpret hedge fund financial statements, NAV reports, Form ADV/PF filings, and performance attribution data.
• Collateral & Margining: Expertise in margin methodologies (initial margin, variation margin, house margin SIMM), collateral haircuts, CSA terms, and uncleared margin rules (UMR).
• Systems & Tools: Familiarity with financial systems (e.g., Murex, Bloomberg), exposure management platforms, and Microsoft Excel & PowerPoint.
• Documentation: Working knowledge of ISDA, CSA, GMRA, GMSLA, and prime brokerage documentation frameworks including market standard terms for Hedge Funds.

DBS Bank Singapore

DBS Bank Singapore is an employer hiring in India (sector: BFSI / Investments / Insurance).

Its finance, accounts, audit and tax openings in India are mostly in Singapore - Central and Singapore - East.

• Industry: BFSI / Investments / Insurance