Hedge Fund Credit Analyst

  • Deutsche Bank
  • New York, NY, United States
  • Jul 18, 2017
Full time Risk

Job Description

The Risk division has a fundamental responsibility to protect the Bank. With group-wide responsibility for the management and control of credit, market, operational and reputational risks, we have a unique vantage point which allows us a holistic view of our businesses and our clients. Nearly 4,000 employees work together to achieve our ambition to be an industry-leading risk management organisation.

In an increasingly complex environment, risk management is fast-becoming the most sought after place to build a career within the banking world. Risk at Deutsche Bank is relied upon to help shape the strategy of the organisation and the wider industry agenda.


Position Overview


A Passion to Perform.  It’s what drives us.  More than a claim, this describes the way we do business.  We’re committed to being the best financial services provider in the world, balancing passion with precision to deliver superior solutions for our clients. This is made possible by our people: agile minds, able to see beyond the obvious and act effectively in an ever-changing global business landscape.  As you’ll discover, our culture supports this. Diverse, international and shaped by a variety of different perspectives, we’re driven by a shared sense of purpose. At every level agile thinking is nurtured.  And at every level agile minds are rewarded with competitive pay, support and opportunities to excel.


Job Title: Hedge Fund Credit Analyst

Corporate Title: Associate

Division: CRM Hedge Funds

Location: New York



  • The Hedge Fund Credit Analyst will be responsible for assisting in managing Deutsche Bank’s counterparty credit risk to North American hedge fund clients. (S)he will be responsible for approving transactions, as well as reviewing and monitoring the counterparties on an ongoing basis.
  • The Credit Officer will report into the Head of Hedge Fund Credit Risk Americas and will be part of a larger team.  The team ultimately reports into the Global Head of Hedge Fund Credit, based in New York. Hedge Fund Credit Risk Management provides credit risk management and oversight across Deutsche Bank’s Global Markets division, including both franchise and prime brokerage businesses.

  Key Responsibilities:

  • Conduct credit due diligence for clients by way of meetings with relevant personnel at the fund manager. Evaluate risk and exposure management of hedge funds by setting and approving internal ratings, credit limits, margins and documentation terms on the back of their risk assessment of the hedge funds based on information gathered at the meetings and the relevant constitutional documentation provided by the client.
  • Approve credit sensitive terms in legal contracts to allow Deutsche Bank transact, close out portfolios and terminate trades in the event of a default or any credit deterioration (e.g. a sharp deterioration in performance).
  • Preparation of annual credit reviews, written reports which outline areas including the background of the fund management company, investment strategy of underlying funds, risk and liquidity management and performance. This written report will highlight the key risks associated with each counterparty and outline the credit officer’s view of the group/funds.
  • Day-to-day transaction approvals, setting initial margin levels for trade requests received from sales teams across the bank, and analysis of more bespoke structured transactions.
  • Analyse and manage the risk and exposures within their portfolio on an ongoing basis, using the various credit risk management and product monitoring systems within Deutsche Bank, including internal stress test information, exposure data and performance/portfolio data received on a regular basis from hedge funds.
  • Liaise with support functions across the bank where appropriate for Legal, Compliance, Collateral Management, Operations, in support of approval and managing credit risk.
  • Monitor the market developments affecting the hedge fund sector, e.g. regulatory issues or weakness/stress in particular asset classes.

You will have:

  • Degree level education or equivalent, knowledge of hedge fund credit risk preferred but not required.
  • Product knowledge across derivative and financing products.  Broad understanding of global capital markets.
  • Ability to calculate and quantify transaction risk is also desirable but not essential.
  • Basic understanding of master trading documentation, particularly International Swaps and Derivatives Association (ISDA), Global Master Repo Agreements (GMRA), Futures and Options (F&O) and Prime Brokerage.
  • Basic working knowledge of risk metrics including VaR, PFE and stress testing.

You will be:

  • A confident decision maker able to competently explain the reasoning, which supports credit decisions.
  • A strong team player, capable of working alongside colleagues in an effort to achieve team goals.
  • A self starter, able to manage own workload with minimal guidance from senior members of the team.
  • Articulate and at ease when interacting with internal and external clients