Looking for a new opportunity with a highly respected financial institution? My client is one of the leading building societies in the UK, and we're currently seeking a talented and experienced Prudential risk specialist to join their growing Risk team
As a mutual organisation, they're owned by their members and are dedicated to providing the best possible service to customers. They've built a reputation for excellence, and are looking for someone who shares the commitment to quality and innovation.
My client are a progressive and forward-thinking employer, and successfully adapted to remote working during the pandemic. While this role is based at their Head Office in Yorkshire, they are open to discussing flexible working arrangements that suit your needs.
They offer a range of benefits to their colleagues, including a generous pension contribution and bonus scheme, a health cash plan, an employee assistance program, and a rail season ticket scheme. They are committed to supporting their employees' personal and professional growth, and we offer a range of opportunities for training and development.
The key purpose of this role is to ensure that the business remains regulatory compliant in all areas of prudential risk in an environment of significant regulatory change and increased regulatory complexity. The role will have a strategic impact through the provision of assurance over regulatory compliance to senior stakeholders and the regulator. In addition to technical excellence, the role requires strong business acumen and fantastic communication and influencing skills.
YOUR KEY RESPONSIBILITIES
- Perform assurance reviews over key areas of prudential risk. This includes substantive reviews of key disclosures, regulatory returns, stress testing outputs and impact assessments associated with emerging regulation.
- Produce high quality assurance reports and communicate findings in a straightforward, business-focussed way to key stakeholders.
- Build and maintain strong relationships across the business, being recognised as a highly credible individual who can communicate complex concepts in a simple to understand, straightforward manner.
- Present assurance reports to senior committees and stakeholders including the Prudential Regulation Authority, ExCo, Model Governance Committee, Retail Credit Committee and Board Risk Committee, tailoring the approach to suit the audience.
- Provide prudential regulatory expertise and consultancy to other business areas, including through support of business change activity.
- Maintain an appropriate breadth and depth of technical knowledge through the development of a strong external network in relation to emerging regulatory requirements.
- Maintain a detailed knowledge of prevailing and emerging prudential regulation in terms of both national and supra-national requirements. This will include strong knowledge of the Capital Requirements Regulation (with particular focus on the Standardised and Advanced Internal Ratings Based Approaches), International Financial Reporting Standard 9, Common Reporting and Financial Reporting returns.
- Support prudential risk-related internal and external audits.
- Lead short term virtual teams via a matrix management approach. This will include activity such as allocation of work, agreement of short term objectives, provision of feedback, first review of the work of other team members and managing the expectation of the PRO Leadership Team and key stakeholders.
- Provide technical guidance and support to other team members and business areas as required.
- An ability to interpret complex regulatory requirements, identify linkages between different regulatory products and establish the impact of prudential regulation on the Society.
- An ability to assimilate new and complex information rapidly and with ease.
- An ability to communicate complex, technical information to non-technical audiences clearly, succinctly and with impact in both written and verbal form.
- The ability to apply pragmatism and business acumen when providing assurance over the work of others.
- An ability to build and maintain strong rapport even when providing constructive feedback and challenge.
- An ability and enthusiasm for presenting information to senior internal and external audiences on a regular basis.
- An ability to operate in an assurance capacity, discerning key risks in prudential risk activities and regulatory interpretation and tailoring work and conclusions accordingly.
- An ability to develop and maintain a strong external network and share insights as appropriate.
- An ability to influence beyond your authority.
- Strong knowledge of retail and commercial mortgage lending processes. This includes credit decisioning, application and behavioural scoring, credit management processes, indicators of default, forbearance processes, possession and recovery processes.
- Strong knowledge of credit risks associated with retail and commercial mortgage lending. This includes the key drivers of default, the key drivers of loss and mechanisms for optimising risk and reward.
- Knowledge of credit risk modelling techniques and regulatory expectations with particular emphasis on IRB and IFRS 9 Modelling.
- Knowledge of the prevailing and emerging prudential regulatory environment in which the Society operates.
- Knowledge of stress testing requirements and associated regulatory disclosures. This includes balance sheet, profit and loss, capital and impairment forecasting approaches under different economic scenarios and knowledge of the impact of such outputs on business processes, decisions and disclosures.
- Experience of providing assurance over complex prudential regulatory risks, disclosures, returns and stress testing frameworks.
- Experience of presenting complex outputs in written and verbal formats to senior stakeholders.
- Experience of working effectively with other assurance providers (e.g. Internal and External Audit).