Derivatives and Counterparty Risk Analyst

The Senior Counterparty Risk Analyst will provide management support (tactical and strategic) for the Global Counterparty Risk Management team (CRM) through the design and governance of operational risk management strategies. Collaborates with and provides periodic support for global operational risk functions in all regions. Market structure knowledge and experience working with clearing houses such as DTCC, CME, LCH, or ICE is a big plus.

Duties and Responsibilities:

  • Performs in depth analysis of Venues (brokers, trading platforms, etc.) proposed as trading counterparties by Vanguard's Equity Investment and Fixed Income Groups globally. Works autonomously to review risk exceptions and make decisions based on own judgment.
  • Analyzes and investigates results of forensic testing monitoring (counterparty exposure, reconciling approved Venue list to OMS platforms, etc.) Makes recommendations to management and works with the Forensics team to enhance existing forensic monitoring as well as provides thought leadership for new risk analysis and reporting.
  • Leads the development of effective and efficient risk monitoring and reporting routines, including gathering and analyzing data, conducting analysis, preparing reports, and making recommendations to management.
  • Monitors, reviews and communicates the impact to the risk profile of future state IMG and front office initiatives, including but not limited to new product assessments, changes to trading strategies (new instruments, new fund and account launches), targeted risk reviews and, fundamental business changes.
  • Ensures that industry and regulatory standards are current by developing and maintaining knowledge of financial markets, market structure, securities and general investment themes in order to bring an informed perspective to the risk management process.
  • Documents and investigates operational incidents for root cause and business impact analysis, including calculating the financial impact of operational incidents for impact to fund's NAV and performance.
  • Collaborates with front and middle office teams and leads effort to optimize existing OMS/EMS controls or develops new controls.
  • Works with Legal team to ensure that appropriate counterparty Legal documents are in place.
  • Ensures consistent implementation of global investment policies and procedures.
  • Participates in special projects and performs other duties as assigned.


  • Undergraduate degree or equivalent combination of training and experience. (Degree in a business discipline preferred).
  • Minimum of five or more years related and progressive work experience.
  • CFA/FRM Certification strongly preferred.
  • Programming skills (e.g. VBA, SQL, Hive, Impala, Tableau) and interest in learning and using new technologies preferred.
  • Advanced analysis and problem solving skills.
  • Sound business judgment, ability to influence others, and ability to apply practical thinking.
  • Ability to mobilize, execute and deliver analysis and reports.
  • Risk management, controls, or related work experience required.
  • Advanced working knowledge of Mutual Funds, equity, fixed income and FX derivatives, and investment operations. Equity and/or Fixed Income markets knowledge and experience required.
  • Specialized knowledge across the disciplines related to risks in investment management (e.g., regulatory, counterparty, technology and fraud risk) with core expertise in operational risk required.
  • Counterparty Risk and Collateral Management experience preferred. Working knowledge of Charles River, Aladdin, or Bloomberg required.
  • Market structure knowledge and experience working with clearing houses such as DTCC, CME, LCH, or ICE is a big plus.

Vanguard is not offering visa sponsorship for this position.

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