Senior Alternative Investment (AI) Risk Manager
Risks & Compliance Risks & Compliance is an independent division which monitors the Bank’s activities to ensure they are fully in compliance with all relevant laws, rules and regulations while always keeping a close eye on clients’ risks and interests. The division is involved in the management of all the Bank’s operations, monitoring its activities to keep them within the defined risk framework, and participates in the approval process for new developments in products and services. It is dedicated to supporting our Bank business lines at the same time as protecting the Bank’s interests and reputation.
The Senior Alternative Investment (AI) Risk Manager is in charge of operating the independent Group alternative risk management framework with respect to regulatory and investment compliance risk.
- Responsibility for daily consolidated Group AI risk and performance analysis, monitoring, controlling, reporting and handling of guideline excesses / breaches, covering all UBP FoHFs, U-Access IRL funds, AI clients’ mandates, and other alternative strategies, and definition of appropriate corrective measures.
- Perform daily monitoring and reporting of UBP FoHFs’ KRIs and included in the Daily Risk Snapshot report to RC members, on operational risk (valuation process / non adherence to valuation policy, error in NAV, NAV delays, underlying estimates vs final - discrepancies > 0.50%, operational process risk issues) and suitability risk (UBP FoHFs / mandates pre trade compliance flag issue, UBP FoHFs / U Access IRL accounts post trade UBP FoHF MTD/YTD performance risk issues, HF universe headline risks / spill-over effect of potential bad press of HF single manager on HF approved list).
- Perform daily monitoring and reporting of U Access IRL HF single managers’ risk exposure (sensitivity risk analysis, stress scenario, counterparty risk, concentration risk, liquidity risk and forecasting, UCITS eligibility checks).
- Perform daily investment process control, including the initial definition of product-specific risk frameworks (i.e., investment objectives, guidelines and limits), analysis and reporting of adherence to those established risk frameworks on a pre- and post-trade compliance basis at FoHFs and AI clients’ mandates, and definition of corrective measures, if deemed necessary.
- Daily interaction with U Access IRL external managers (e.g. answers to eligibility questions, reporting of flags, breaches).
- Active involvement in operating pro-active early warning / headline risk / crisis scenario related to HF single manager on HF approved list for FoHFs, AI clients’ mandates, U-Access IRL funds or other alternative strategies.
- Oversight of outsourcing functions to Duff & Phelps and other service providers, as appropriate.
- Active participation in transaction risk advisory (e.g. product eligibility / suitability) related to fund managers’ request.
- Pro-activity in the onboarding of funds on the U-Access IRL fund, / other strategies and in the tems of NPRAP / CRA.
- Perform, together with the Head of Group AM Risk Management, monthly AI risk review, analysis and reporting to the RC on the AI business activities (control overview, key risk indicators, market outlook summary, Fund performance and Optics outliers monitoring, U-Access (IRL) performance monitoring / tracking error, Top 10 allocations, Summary market risk reports (VaR and stress scenario), VaR backtesting, Top counterparties / counterparty breakdown and concentration risk , Operational due diligence activity, Due diligence watch list activity, Administrators review (if any), Pre trade compliance log, Post trade compliance log, Liquidity risk analysis, leverage, backtesting, legal risk) of which a summary section is included in the Monthly CRCA Suitability Risk report.
- Perform monthly consolidated AI KRI analysis review and reporting (market risk, liquidity risk, counterparty risk, due diligence activity, investment compliance, eligibility checks, new product activity and valuation risk) included in the Monthly CRCA Red Flag Cockpit report
- Perform monthly UBP HF risk model monitoring (style drift analysis, VaR and stress scenario analysis, backtesting) and reporting of UBP HF on the approved list and included in the AI clients’ mandates.
- Perform monthly risk review, analysis and reporting of AI clients’ mandates (e.g. performance / volatility / beta ,monitoring, liquidity monitoring, strategy concentration / single hedge fund concentration),
- Perform stale price risk analysis review for UBP FoHFs based on the Middle Office AI report
- Perform monthly liquidity risk analysis review and reporting for UBP FoHFs and portfolios forecasting and counterparty risk analysis & reporting, as well as market data monitoring
- Active involvement in UBP AI's monthly operational risk assessment and reporting.
Half Yearly Activities
- Perform, together with the Head of AM Risk Management, half yearly Board of Directors reports for AI activities.
- Active participation in formulation, update and enhancement of AI risk framework and policies / manuals and other related risk policies and procedures.
To note that this job description might slightly change subject to the AI & DD business model to be yet finalized. AI risk in the new AI business model shall not be involved in the DD operational process.
- Education: Master Degree
- Years of experience: 3-7 : intermediate
- Experience in private banking: Mandatory
- English: Fluent
- Swiss resident: N/A