Summary:

The Counterparty & Third Party Risk Team Lead will be responsible for driving Neuberger Berman’s program and framework in the areas of Counterparty Risk and Third Party Risk Management (“TPRM”). As it relates to Counterparty Risk, the scope of this role includes the review and approval of Neuberger Berman’s trading counterparties, maintenance of the approved broker list, and the ongoing monitoring of counterparty exposures across all asset classes and products. The scope of the role also includes leadership in the realm of TPRM, including the maintenance of policies and procedures, providing oversight of the risk-ranking of new and existing Third Parties, and holding Neuberger Berman’s Business and Service Relationship Managers (BRMs and SRMs) accountable to the standards of the TPRM program.  

This is a highly visible role which will require collaboration with other members within the Risk Group, and partnership with portfolio managers, research analysts, Global Technology, Legal & Compliance, Operations and other functional areas. It is expected that a candidate in this role would be able to represent the function in presentations with senior leadership, with regulators, and with prospective and existing institutional clients during due diligence reviews.
 

Responsibilities:

• Lead the identification of critical third and fourth parties including counterparties and escalate issues as they arise in the due diligence phase.
• Review and approve new counterparties, which includes performing financial analysis to determine the credit-worthiness of potential trading counterparties
• Monitor counterparties daily utilizing Neuberger’s counterparty dashboard, and produce and distribute the daily counterparty exposure report
• Maintain the appropriate mappings in the counterparty exposure dashboard, ensuring the accuracy of data and the incorporation of new counterparties and third parties for inclusion in the ongoing reviews
• Implement a framework for the assessment of risk of NB’s key third parties in line with the TPRM framework, including our key brokers / counterparties.
• Assess the financial health and credit worthiness of our significant and critical third parties as part of the due diligence program.
• Produce ad hoc reporting relating to counterparty exposures including OTC derivative reports, registered fund counterparty exposures, private fund exposures, and reporting related to money market sweep vehicles used
• Perform semi-annual CAMEL reviews of higher exposure counterparties
• Oversee the risk assessments and risk tiering of all new Third Parties; ensure ongoing assessments are in place for existing Third Parties
• Collaborate with business leaders to ensure all Third Parties are accurately captured in the TPRM program
• Engage with business leaders on an ongoing basis to stay abreast of changes in Third Party relationships; ensure due diligence, monitoring and escalation to appropriate channels is complete
• Partner with the Business Continuity and Global Technology teams to conduct Business Impact Analysis reviews, identifying potential impacts to business operations if Third Party services are interrupted; participate in the development of plans to mitigate business impacts and support the continuity of operations
• Partner with the procurement function on setting Third Party engagement standards
• Develop KPIs / KRIs with internal BRMs and SRMs and ensure that these internal stakeholders are completing necessary due diligence reviews, in line with the requirements of the TPRM program
• Maintain a watch-list for 3rd parties who are flagged due to operational weaknesses, operational events or issues
• Maintain all policies and procedures relating to Counterparty Risk and TPRM
• Ensure program enhancements are made in line with changing industry, client and regulatory demands
• Work on client onboardings which stipulate specific counterparty management requirements and partner with the ISDA team where required.
• Participate and contribute to Best Execution reporting / committees
• Respond to ad hoc RFP, regulatory and audit, and due diligence inquiries
• Participate in due diligence reviews of counterparties and Third Parties, as applicable

Qualifications:

• Minimum of five years of direct experience in Counterparty Risk or TPRM at another asset management firm or comparable financial institution with at least ten years of progressive industry experience preferred
• Working knowledge of financial statement analysis, particularly financial institutions and technology companies; FRM or CFA a plus
• Familiarity with global regulations and guidance relating to TPRM and outsourcing, such as Irish CP138, Fed / OCC guidance, and MAS outsourcing third party risk
• Technical understanding of investment products and strategies; familiarity with Aladdin and registered fund regulatory limits (UCITS) relating to counterparty exposure a plus
• Experience utilizing a Bloomberg terminal; experience with Bloomberg API 
• Comfort analyzing and working with large data sets; advanced Excel knowledge preferred
• Technical ability in the area of data visualization and report creation (Tableau, PowerPoint, etc.)
• Must be highly motivated, self-starter and independent; driven to “peel back the onion” and dig deeper during counterparty and Third Party reviews
• Demonstrated ability to work with multiple stakeholders and manage competing priorities
• High level of attention to detail and accuracy
• Confident communicator with the ability to tailor messaging to different constituencies and seniority levels

Compensation Details

The salary range for this role is $125,000-$160,000. This is the lowest to highest salary we in good faith believe we would pay for this role at the time of this posting. We may ultimately pay more or less than the posted range, and the range may be modified in the future. This range is only applicable for jobs to be performed in New York City. An employee’s pay position within the salary range will be based on several factors including, but limited to, relevant education, qualifications, certifications, experience, skills, seniority, geographic location, performance, shift, travel requirements, sales or revenue-based metrics, any collective bargaining agreements, and business or organizational needs. This job is also eligible for a discretionary bonus. We offer a comprehensive package of benefits including paid time off, medical/dental/vision insurance, 401(k), life insurance and other benefits to eligible employees.

Note: No amount of pay is considered to be wages or compensation until such amount is earned, vested, and determinable. The amount and availability of any bonus, commission, production, or any other form of compensation that are allocable to a particular employee remains in the Company's sole discretion unless and until paid and may be modified at the Company’s sole discretion, consistent with the law.

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