Senior Market Risk Manager

About this role

At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed.  We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One.

Job Description The Senior Market Risk Manager will be responsible for the independent measurement, monitoring, analysis, and oversight of market risk across equity derivatives trading activities. This individual will provide hands-on support for risk identification, risk analytics, model performance monitoring, limit oversight, regulatory reporting, and senior management governance materials. The role requires deep knowledge of equity derivatives products, including listed and OTC equity options, equity swaps, volatility products, convertibles, structured equity products, ETF creation and redemption, ADRs, and related hedging strategies. The successful candidate must have at least 10 years of relevant financial industry experience in Market Risk Management, quantitative risk analytics, trading risk oversight, or a related capital markets risk function. The candidate must also hold a master’s degree in Mathematics, Quantitative Finance, Financial Engineering, Statistics, or a closely related quantitative discipline.

Key Responsibilities • Provide independent market risk oversight for equity derivatives portfolios, including listed and OTC options, equity swaps, volatility products, convertible securities, structured equity products, ETF creation and redemption, ADRs, and related hedging activity.

• Review daily VaR, Stress VaR, sensitivity, Greeks, P&L, concentration, liquidity, and limit utilization reports to identify material changes in risk profile, strategy, portfolio composition, or market conditions.

• Analyze key equity derivatives risk drivers, including delta, gamma, vega, theta, skew, correlation, dividend risk, funding assumptions, volatility surface behavior, and basis risk.

• Support the design, implementation, testing, validation, and ongoing monitoring of VaR, stress testing, scenario analysis, and other market risk measurement methodologies used for equity derivatives portfolios.

• Perform model monitoring, back-testing, benchmarking, P-value analysis, sensitivity testing, and outcomes analysis to assess model performance and continued suitability for use.

• Partner with Front Office, Quantitative Development, Model Risk Governance, Finance, Technology, Operations, and other control functions to resolve data quality issues, model limitations, valuation concerns, and risk reporting exceptions.

• Prepare and present clear risk commentary, governance materials, committee decks, and escalation summaries for senior management, Market Risk Committee, ALCO, regulators, audit teams, and other oversight stakeholders.

• Support new product reviews, model change assessments, risk methodology enhancements, limit framework updates, and integration of new trading activities into the market risk platform.

• Maintain and enhance market risk procedures, model documentation, control evidence, issue logs, and governance artifacts to support internal audit, external audit, regulatory exams, and model validation reviews.

• Monitor compliance with internal risk appetite, market risk limits, risk indicator limits, Volcker-related controls, and applicable regulatory requirements.

Basic Qualifications - Bachelor's or advanced degree, or equivalent work experience - Typically more than 12 years of applicable experience

Preferred Skills/Experience • 10 or more years of experience in Market Risk Management, trading risk oversight, quantitative risk analytics, model risk, or a related capital markets risk function.

• Hands-on experience supporting or overseeing equity derivatives trading activities, including options, swaps, volatility products, structured notes, convertibles, ETF creation and redemption, ADRs, and related hedging strategies.

• Master’s degree required in Mathematics, Quantitative Finance, Financial Engineering, Statistics, Applied Mathematics, or a closely related quantitative field.

• Strong understanding of derivatives valuation, option pricing theory, volatility modeling, Greeks-based risk analysis, scenario analysis, stress testing, VaR, and back-testing concepts.

• Experience working with market risk systems, risk factor data, position data, P&L attribution, independent price verification, model monitoring, and regulatory capital reporting processes.

• Strong analytical, problem-solving, communication, and presentation skills, with the ability to explain complex quantitative concepts to both technical and non-technical stakeholders.

• Proficiency with Excel, VBA, SQL, Python, or similar analytical tools used to analyze risk, automate reporting, validate data, and support risk infrastructure enhancements.

• Experience with MSCI RiskMetrics, Bloomberg, Wall Street Systems (WSS), Fidesa, Calypso, internal market risk platforms, or comparable risk and valuation systems.

• Knowledge of the Market Risk Rule, Basel market risk capital requirements, FRTB concepts, Volcker Rule monitoring, model governance standards, and regulatory expectations for trading risk oversight.

• Experience supporting model validation, internal audit, external audit, regulatory exams, committee reporting, and remediation of risk or control issues.

• Ability to work independently, manage multiple priorities, challenge assumptions constructively, and build effective partnerships across risk, finance, technology, operations, and front-office teams.

This role requires working from a U.S. Bank location three (3) or more days per week.

If there’s anything w

Similar jobs

• Senior Risk Manager — M&T Bank · Buffalo, NY
• Senior Risk Management Analyst — Pultegroup · Atlanta, GA
• Senior Risk Analyst — Polymarket · New York
• Senior Risk Analyst — Brown Brothers Harriman (BBH) · Jersey City
• Senior Risk Analyst — Atlassand · Austin, TX
• Senior Market Analyst — Rehlko · Milwaukee, WI | Kohler, WI
• Manager, Market Risk — Fidelity Investments · Jersey City, NJ
• Senior Financial Risk Analyst — Adyen · Chicago