The role of the Portfolio Risk Manager is to support the Parkwood Investment Committee and Parkwood CIO in managing the portfolio risk process – identifying risk exposures, establishing appropriate ranges of exposures, continuously measuring these exposures, and executing appropriate adjustments whenever exposure levels fall outside of target ranges.
- Assist the Investment team in achieving its risk and return objectives for the portfolio.
- Lead a formal risk assessment for any major, new investment areas or strategies to ensure we have properly considered and addressed the potential risks of any new endeavor.
- Participate in the discussion around the establishment of or changes to major risk decisions within the portfolio including (a) investment strategy or philosophy (i.e., use of leverage), (b) target allocations (i.e., asset class, liquidity and geography), and (c) concentration guidelines.
- Prepare an annual liquidity stress test to ensure we have sufficient liquidity in the event of a crisis. Continually evaluate the liquidity profile of the portfolio and the liquidity plan to be used in the event of a crisis.
- Prepare quarterly stress tests to evaluate how the portfolio will react in a crisis and to help ensure the portfolio is within our risk guidelines.
- Prepare a regular (quarterly or semi-annual) report to the Investment Committee that evaluates the portfolio according to the portfolio level risks outlined in our policy.
- Monitor and provide reporting on portfolio exposures, including the use of derivatives, to help ensure the portfolio remains within established guidelines.
- Lead the quarterly asset manager risk assessment process and participate in the assignment of the risk ratings, which are used to determine concentration guidelines.
- Participate in the legal review process for new funds and the amendment process for existing funds. Help ensure we have properly considered our legal protections.
- Continually review and evaluate the internal control structure of the Investment Department, with specific attention to internal controls over the internal asset management program.
- Identify any exceptions to our established guidelines and determine if the exception should be approved or sent to the Investment Committee for their decision.
- Report to the Board on an annual basis regarding portfolio risk management.
Desired Work Experience and Background
- Bachelor’s Degree in Accounting or Finance with high academic achievement
- 6 – 8 years of experience in portfolio management
- Experience in all relevant asset classes including derivatives
- Experience in down markets
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Other Desirable Attributes
- Strong analytical and problem-solving abilities
- Strong attention to detail
- Ability to balance multiple work flows with concurrent deadlines
- Strong interpersonal skills and ability to work in teams while maintaining the confidence to voice concerns and perspectives about important issues
- Intellectual curiosity
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