Summary: The Risk Business Analyst role at emagine focuses on delivering credit and market risk technology initiatives within the commodities trading sector. The position requires collaboration with risk teams to ensure accurate model implementation and thorough testing in a fast-paced environment. The ideal candidate will have strong experience in Risk Analytics, particularly in Counterparty Credit Risk, and will be responsible for translating complex methodology changes into executable plans. This role is based in London with a hybrid working arrangement.

Key Responsibilities:

• Drive the delivery of credit and market risk initiatives from a technology and risk analytics perspective.
• Work closely with Risk teams, including Quants and Risk Managers, to ensure a comprehensive understanding of product mapping to existing PFE modelled and non-modelled methodologies.
• Translate complex methodology changes into executable plans and clearly define the approach for analysis and implementation activities.
• Collaborate with stakeholders to document detailed user requirements and validate pricing and simulation models, including PFE, EE, EPE, VaR, and CVA.
• Validate and test market and reference data inputs and understand their impact on simulation results and risk metrics.
• Perform impact analysis, tie out numbers, attribute deviations, and provide clear explanations for observed changes.
• Query and analyze large volumes of data, understanding the flow from source to calculation steps including risk factor simulation, valuation, and aggregation.
• Contribute to defining risk monitoring solutions and credit risk reporting enhancements.
• Work closely with technology project managers and system vendors to define delivery schedules and validate updates.
• Define robust test plans and guide users through UAT for new product development and system changes.
• Partner with production teams to ensure successful handover of new processes and controls into the live environment.
• Build effective working relationships across Risk Analytics, Technology Risk, Credit Risk Management, Market Risk, and Front Office Solutions.

Key Skills:

• Strong experience in Risk Analytics, particularly within Counterparty Credit Risk and Potential Future Exposure (PFE) calculations.
• Solid understanding of risk exposure metrics (EE, EPE, PFE, VaR, CVA) from a calculation perspective, including knowledge of methodology inputs/outputs such as simulation, pricing, valuation, aggregation, and attribution.
• Proven track record of working on methodology change projects and engaging with Quants and Risk Managers.
• Demonstrated ability to analyze and explain numerical deviations through impact analysis and results attribution.
• Strong data analysis skills with the ability to query and interpret large datasets.
• Hands-on experience with pricing and risk engines such as IHS Markit Financial Risk Analytics (FRA), or similar vendor/proprietary systems.
• Experience with OpenLink/Endur and/or Murex is beneficial.
• Strong business analysis and project lifecycle knowledge.
• Experience in compiling business requirements documents and functional specifications.
• Solid testing experience, including defining test strategies and supporting UAT.
• Excellent communication skills with the ability to convey technical details to both business and IT stakeholders.
• Ability to manage multiple tasks and work under pressure, both independently and as part of a team.
• Knowledge of Commodities products is a plus but not mandatory.
• Deep understanding of key Credit Risk and Market Risk concepts.

Salary (Rate): 750

City: London

Country: United Kingdom

Working Arrangements: hybrid

IR35 Status: undetermined

Seniority Level: undetermined

Industry: Other