Trading Book Sensitivity Controls Director

The mandate

The Interim Director will establish robust quantitative sensitivities used for risk and valuation explanation, addressing coverage, sign convention, scaling, aggregation and reconciliation. The eight-month assignment starts with a live-cycle trace and ends after an internal successor is in place. It excludes position taking, limit setting and pricing ownership.

During the first fifteen working days, the Director will trace selected positions through risk-factor mapping, bump design, sensitivity calculation, aggregation and reported movement. Authority includes stopping unsupported manual adjustments, requiring recalculation, assigning defect owners and escalating materially unreliable output. Methodology approval and final risk decisions remain with designated governance.

The recovery will test linear and non-linear measures, cross-effects, tenor and basis mapping, currency and unit consistency, netting, approximation error and treatment of inactive or new risk factors. A reconciled total is insufficient if offsetting sign or mapping errors remain. The Director must show both gross control integrity and the effect on aggregate decision measures.

By month three, material sensitivity classes should have controlled definitions, implementation lineage, completeness checks and reconciliation thresholds. Two monthly cycles then prove operation. The successor must detect seeded unit and mapping faults, decide whether approximation remains suitable under a stressed move and present residual limitation to governance.

Handover is accepted when the Chief Risk Officer approves the sensitivity dictionary, coverage map, movement bridge, exception record and successor assessment. Model redevelopment, trading strategy, valuation sign-off, system replacement and permanent hiring remain excluded. Extension is tied only to the successor acceptance cycle.

What you will own

• Inventory material sensitivity measures by definition, unit, bump, model, position population and decision use.
• Validate risk-factor and tenor mapping, including basis, currency, cross-effect and inactive-factor treatment.
• Reconcile sensitivities across source, calculation, aggregation and reporting while retaining gross exception visibility.
• Quantify approximation error and define conditions requiring fuller revaluation or restricted use.
• Govern manual adjustments with source evidence, quantitative effect, approver, expiry and correction plan.
• Complete two stable cycles with no unresolved critical coverage, sign or scaling defects.
• Test the successor using seeded unit, mapping and stressed-approximation failures.
• Keep pricing, trading, limits, broad model redevelopment and technology replacement outside scope.

Candidate qualifications

• Demonstrate interim recovery of sensitivity production across linear and non-linear risk.
• Describe an aggregate result that reconciled despite offsetting sign, unit or mapping defects.
• Show how you determined when sensitivities ceased to approximate full revaluation adequately.
• Evidence completeness testing for new, inactive or poorly mapped risk factors.
• Provide movement analysis separating position, market, model and implementation effects.
• Explain how you preserved boundaries among valuation, market risk and trading decisions.
• Show a successor independently resolving a seeded production fault under deadline.

Working terms and boundaries

• The eight-month engagement runs five days weekly and covers diagnosis, two proofs and successor transfer.
• Day rates include on-site production and reporting intensity; exceptional travel requires approval.
• The Director can control evidence and reruns but cannot set limits, take positions or approve valuations.
• System replacement, broad redevelopment, permanent hiring and trading strategy are excluded.
• A two-month extension requires an incomplete successor-led acceptance cycle against documented criteria.

Application

Applications for this mandate are received in one way only: through the India Board Terminal's application process. It is automated end to end. Your Executive Passport travels to the mandate holder in its confidential form, your answers to the three questions below are read before anything else in your file, and every stage that follows is recorded on your applications page.

There is no address to write to and no intermediary to call. The mandate holder reads what the Terminal delivers and nothing else, which is what keeps the process the same for every applicant and keeps your name out of it until you release it. Applications close on 10 October 2026. Mandate reference QNT-INT-2026-VIE-30.