Asset and Liability Management Risk Manager – Financial Risk Management

Western Alliance Bank

Asset and Liability Management Risk Manager at Western Alliance Bank focusing on Interest Rate Risk management and oversight. Collaborating with the Market Risk Team on financial risk assessments and management.

Posted 5/8/2026full-timePhoenix • Arizona, Illinois, Ohio • 🇺🇸 United StatesMid-LevelSenior💰 $159,745 - $197,331 per yearWebsite

Tech Stack

Tools & technologies

PythonSQL

About the role

Key responsibilities & impact

The Market Risk Team within Financial Risk Management (FRM) oversees risk taking activities of Treasury focusing specifically on Interest Rate Risk
The team facilitates effective use of risk appetite to monitor and assess risk-taking activities
The group also plays a key role in keeping senior management appraised of the Company’s market risk profile
This is achieved by using risk measures, proactive application of expert judgement, and limit setting
You'll provide independent risk oversight, challenge, and assessment of interest rate risk exposure with a strong emphasis on quantitative analysis, use of management judgement, and data validation using quantitative techniques
Review scenario design, model configurations, and results produced in the Quantitative Risk Management tool (QRM) (e.g., Economic Value of Equity/Earnings at Risk, forecast runs, Funds Transfer Pricing linkages);
independently replicate or sensitivity‑test key assumptions using quantitative techniques where direct QRM instance access is not available
Develop robust processes and tools to validate key financial assumptions, such as deposit behaviors, prepayment trends, and pricing strategies, and ensure QRM results are accurately reconciled with source systems and established policy limits
Lead structured challenge sessions and memorialize outcomes in memos/minutes consistent with FRM governance and practices
Produce Second Line of Defense Asset Liability Management/Interest Rate Risk dashboards and narratives for the Asset Liability Committee/Financial Risk Management governance, highlighting drivers of risk and emerging issues
Assist in developing and enhancing the market risk management framework, including the design and implementation of risk metrics, reporting processes, and limit structures

Requirements

What you’ll need

5+ years in Asset Liability Management/Interest Rate Risk in the Banking Book
at least 2+ years in Second Line of Defense/Model Risk Management or other independent oversight roles
Bachelor's degree in related field required
Hands‑on QRM proficiency (Asset Liability Management/Interest Rate Risk modules; comfort reading QRM output structures, assumptions, and libraries)
Ability to replicate Economic Value of Equity/Earnings at Risk and Net Interest Income sensitivities via Python/R/Structured Query Language when needed
Advanced knowledge and experience with tools like Python, Structured Query Language, or R for data analysis and quality checks is a plus
Advanced knowledge of Asset Liability Management concepts & policy (betas, decays, prepay, deposit segmentation, Funds Transfer Pricing, hedging)
Knowledge of ALM concepts & policy (betas, decay rates, prepay, deposit segmentation, FTP, hedging), and IRR/ALM governance
Professional certification such as Financial Risk Manager (FRM), Professional Risk Manager (PRM), or Chartered Financial Analyst (CFA) preferred
Advanced speaking and writing communication skills

Benefits

Comp & perks

medical and dental insurance
time off
a great 401k matching program
tuition assistance program
an employee volunteer program
a wellness program

ATS Keywords

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Applicant Tracking System Keywords

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Hard Skills & Tools

quantitative analysisdata validationscenario designmodel configurationsEconomic Value of EquityEarnings at RiskFunds Transfer PricingPythonRStructured Query Language

Soft Skills

independent risk oversightexpert judgementcommunication skillsleadershiporganizational skills

Certifications

Financial Risk ManagerProfessional Risk ManagerChartered Financial Analyst