Investment Risk Manager

Overview

The Equity Investment Risk team within the Investment Management and Finance Risk (IMFR) department at Vanguard is responsible for providing independent investment risk oversight of the firm’s internally managed funds. IMFR is organizationally positioned within the second line of defense, though co-located on the trade floor with our Portfolio Managers and integral to the first line. The team identifies portfolio and market risks, quantifies our portfolio’s exposures to these risks, and communicates this information effectively to the portfolio management team and senior management.

The team also performs ad-hoc research and develops risk analytics to enhance the business’s understanding of the risk and how to manage it through risk-aware portfolio construction.

In this role you will provide investment risk management oversight across Vanguard’s UCITS line-up of equity funds and ETFs through detailed analysis, surveillance and engagement with our Portfolio Management and Trading team. This role will also support Vanguard’s suite of Life Strategy and Target Retirement multi-asset funds.

• Build and maintain our risk framework – you’ll develop, implement, and maintain a strong and efficient risk-management infrastructure that helps us manage, measure, monitor, and report risk exposures across our global equity and multi-asset investments.
• Shape and strengthen our risk policies – you’ll research, review, and maintain our equity and multi-asset risk-management policies, procedures, limits, and guidelines. By gathering and analysing data from various equity fund management teams, you’ll identify opportunities for improvement and recommend meaningful enhancements.
• Use technology to bring clarity to risk – you’ll design and deliver technology-based tools and metrics, and carry out statistical analysis to help measure, monitor, and manage different aspects of equity and multi-asset risk. You’ll share your findings with senior leaders, portfolio managers, and traders in a clear, insightful way.
• Stay ahead of market developments – you’ll continuously build your understanding of financial markets, quantitative drivers, best practices, and investment themes. By developing deep knowledge of Vanguard’s equity and multi-asset investment functions, you’ll bring a well-informed perspective to our risk processes. You’ll stay alert to evolving business issues and ensure these are reflected in your risk analysis.
• Support new product development – you’ll contribute research, risk insights, and informed opinion as part of the new product design process.
• Get involved in broader initiatives – you’ll participate in special projects and take on additional responsibilities as needed to support the wider team.

• Proven experience working within investment or risk analysis.
• A degree in finance, economics, maths, engineering, or another quantitative field.
• A strong understanding of market drivers, macro events, and cross-asset trends.
• A proven ability to deliver high-quality analysis, communicate clear risk insights, and constructively challenge investment teams.
• Excellent communication skills and confidence working with senior stakeholders in a global environment.
• Ability to manage multiple priorities and perform complex analysis under tight deadlines.
• Experience with risk systems such as Axioma, Barra One, etc.
• Practical programming skills such as SQL, Python, etc.
• Progress toward CFA or FRM is a plus.

• This is a hybrid position and would require you to work in the office 3 days per week (Tuesday, Wednesday & Thursday).

Vanguard is an equal-opportunity employer. Vanguard is committed to providing all crew members a working environment that is free from discrimination, prejudice, and bias. Through this Equal Employment Opportunity (EEO) Policy, Vanguard reaffirms its commitment to equal employment opportunity for all applicants and crew members without regard to race, color, national origin or ancestry, religion, gender, sex, sexual orientation, gender identity or expression, age, disability, marital status, veteran or military status.

In addition, Vanguard prohibits discrimination based on genetic information, as well as any other characteristic protected by federal, state or local law. Applicants with disabilities may be entitled to reasonable accommodation under the Americans with Disabilities Act and certain state or local laws. A reasonable accommodation is a change in the way things are normally done which will ensure an equal employment opportunity without imposing undue hardship on Vanguard.

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