Murex Risk Lead

Job Description:

• Responsible for the end-to-end design, configuration, and delivery of market risk and credit risk capabilities within the Murex MX.3 platform for a Tier 1 corporate bank in Singapore.
• The role is embedded within a multi-year transformation programme encompassing platform upgrades, regulatory compliance (FRTB SA/IMA, Basel III/IV), new module onboarding, and the implementation of comprehensive risk reconciliation and governance frameworks.
• The incumbent will act as the primary Risk workstream lead, bridging the gap between Risk Management, Quantitative Analytics, and Murex Technology teams.
• The role demands deep hands-on expertise across Murex risk modules (VAR, MRA, MRB, MRE, ERM) combined with strong regulatory knowledge, team leadership capability, and proven experience managing stakeholders in complex banking transformation environments.

Solution Design & Requirements:

• Lead the design of Market Risk and Credit Risk solutions in Murex MX.3, translating business requirements from Risk Managers, Quantitative Analysts, and Regulators into detailed functional and technical design specifications.
• Manage and facilitate user requirements workshops with Front Office, Middle Office, and Risk stakeholders to formulate an overall risk solution design aligned with the target operating model.
• Conduct gap analysis between current-state Murex risk configurations and target-state regulatory and business requirements, proposing practical resolution strategies.
• Model transactions and validate configurations to ensure that all business requirements and risk calculation outputs are met accurately within MX.3.
• Produce Functional Design Documents (FDDs), configuration blueprints, and solution design artefacts for the Risk workstream.

Platform Configuration & Delivery:

• Provide hands-on configuration and delivery across core Murex risk modules: VAR (VaR engine), MRA (Market Risk Aggregation), MRB (Market Risk Back-testing), MRE (Market Risk Engine), and ERM (Enterprise Risk Management).
• Configure and maintain Scenario Definition, stress testing frameworks, and risk factor assignment within MX.3 to support both regulatory and management risk views.
• Design and implement Murex Market Data configurations including rate curve construction, volatility surface setup, model assignment, and rate curve assignment methods for risk calculation.
• Deliver and support the build, test, and reconciliation of Market Risk views, VaR reports, stress test reports, and regulatory capital outputs within the Murex Global Markets Platform.
• Configure Pricing and Model assignment within MX.3 to ensure consistent risk sensitivities (Greeks: Delta, Vega, Gamma, DV01, CS01) across all asset classes.
• Oversee Murex Datamart configuration for risk reporting, including universe design, indicator setup, and integration with downstream regulatory and management reporting platforms.
• Develop and maintain scripts for risk job automation and data processing using SQL, Shell scripting, Python, and ANT scripting; work with job schedulers (Control-M, Autosys) for batch risk processing.

Regulatory & Compliance Implementation:

• Lead the MX.3 implementation of FRTB Standardised Approach (SA) covering the Sensitivity-Based Method (SBM), Default Risk Charge (DRC), and Residual Risk Add-On (RRAO) across all asset classes.
• Support FRTB Internal Models Approach (IMA) implementation including Expected Shortfall (ES) computation, Non-Modellable Risk Factors (NMRF), P&L Attribution Testing (PLAT), and daily backtesting within Murex.
• Design and configure Counterparty Credit Risk (CCR) modules: SA-CCR, Potential Future Exposure (PFE), and CVA capital charge frameworks within MX.3.
• Ensure all regulatory capital outputs (market risk, credit risk, CVA charge) are accurately computed and reconciled between MX.3 and the bank's regulatory reporting platforms.
• Collaborate with the bank's Risk and Compliance teams to interpret regulatory changes and translate them into Murex configuration and process design requirements.

System Integration, Testing & Quality:

• Collaborate with IT infrastructure teams, integration leads, and third-party system consultants to deliver integrated risk solutions across the bank's technology landscape.
• Assist in system integration design, data migration planning, and implementation activities related to the Risk workstream.
• Perform all levels of functional testing for assigned risk deliverables including unit testing, SIT, UAT, and regression testing; participate in formal release cycles.
• Define and execute test cases and deliverable validation packages in accordance with the programme's testing methodology and acceptance criteria.
• Support the client during SIT and UAT through case investigation, issue resolution, and root-cause analysis for P&L, Market Data, and risk booking discrepancies.
• Troubleshoot and debug Murex Market Risk and Credit Risk configuration issues independently, escalating to Murex vendor where required.

Stakeholder Engagement & Leadership:

• Act as the primary Risk workstream lead within the programme, managing a team of Risk Analysts and Consultants and overseeing workstream delivery quality.
• Interact with stakeholders across Risk Management, Front Office, Finance, and Technology to develop practical domain roadmaps that advance the bank towards its target risk architecture.
• Communicate design principles, standards, programme vision, and roadmap decisions proactively to business and technical stakeholders, addressing questions and concerns at governance forums.
• Build and maintain strong working relationships with users, project managers, and the Murex vendor team throughout the engagement lifecycle.
• Report on workstream progress, risks, issues, and dependencies to the Programme Manager and Steering Committee; manage business expectations effectively.

Requirements:

• 10+ years of hands-on experience as a Market Risk Functional Consultant, Business Analyst, or System Analyst on Murex MX.3 programmes within corporate or investment banking.
• Mandatory hands-on configuration experience across at least three of the following Murex risk modules: VAR, MRA, MRB, MRE, ERM — with demonstrated project delivery in a banking environment.
• Deep understanding and implementation experience of Value at Risk (VaR) in Murex, including Historical Simulation, Monte Carlo, P&L VaR, backtesting, and stressed VaR.
• Strong knowledge of market risk measures: Expected Shortfall (ES), stressed VaR, stress testing, scenario analysis, Greeks/Sensitivities, and risk attribution within MX.3.
• Proven experience implementing FRTB Standardised Approach (SA) and/or Internal Models Approach (IMA) within Murex MX.3, including sensitivity computation, risk class mapping, and regulatory output generation.
• Good functional knowledge of Credit Risk within Murex: PFE, SA-CCR, CVA capital, and counterparty credit risk simulations.
• Strong understanding of Market Data and Rate Curve assignment methods in Murex, including curve construction, model assignments, volatility calibration, and market data sourcing from Bloomberg/Refinitiv.
• Experience managing and leading a Risk workstream or team on a large-scale banking platform implementation or upgrade programme.
• Proven track record of client servicing in a consulting, system integrator, or internal change management capacity, with demonstrated ability to manage business expectations and build effective working relationships.
• Experience on Murex platform upgrades (e.g. 2.11 to 3.1, or 3.1.42.x to 3.1.6x.x) including risk reconciliation, report migration, and regression testing is highly advantageous.

Education:

• Bachelor's or Master's degree, preferably in Finance, Financial Engineering, Mathematics, Computer Science, Business Analytics, or a related quantitative discipline.
• A Master's degree or professional risk qualification (FRM, PRM, or equivalent) is an advantage but not mandatory where extensive industry experience is demonstrated.

Technical Skills:

• Good knowledge and hands-on experience with Murex risk module configuration, debugging, and development within MX.3.
• Proficiency in SQL for risk data querying and validation; Shell scripting, Python, and ANT scripting for job automation and data processing.
• Experience with job schedulers (Control-M, Autosys, or equivalent) for Murex risk batch processing and EOD job management.
• Understanding of the Murex MX.3 datamodel, Datamart architecture, and simulation module in the Global Markets Platform (GMP).
• Familiarity with XML and MxML for Murex configuration and interface debugging is beneficial.
• Knowledge of regulatory frameworks: Basel II / 2.5 / III / IV, FRTB (SA and IMA), SA-CCR, CVA capital charge.

PERSONAL ATTRIBUTES

• Self-motivated risk management professional with a genuine interest in delivering strategic change in traded risk management within a tier 1 banking environment.