City of London, London
£200000 - £215000 per annum
about 1 month ago
City based International Investment Bank, are looking to recruit a Director of Risk Policy & Analytics (RAP). The Director, Risk Policy and Analytics manages a team of risk policy, quantitative risk analytics and data management & reporting professionals, and is a member of the Asset and Liability Committee. The Director, RPA leads the development, maintenance and articulation of the Risk Appetite of the risk policy framework. The job holder directs measurement, monitoring and modelling and management of the Bank's market and liquidity risk, assessment of economic capital, development of risk analysis, develops and maintains the ECL model, including engagement with the external auditors on the approach/methodology, compliance with IFRS 9 and stress-testing to support key business decisions. The Director, RPA guides the RPA Team to provide oversight of the risk system architecture, limit compliance and development, maintenance and validation of market risk, credit risk and economic capital model infrastructure via line management of a distinct model validation team. The role also directs risk data governance and reporting to ensure accuracy, consistency, timeliness and clarity of reporting.
The RPA Team supports the Managing Director, Risk Management and VP Risk & CRO and collaborates closely with all Risk Directors and Officers to enhance the quality of risk management framework at the Bank. He/she is a member of the Asset and Liability Committee, represents the MD Risk management and VP Risk at other forums as required, and liaises closely with Banking and Finance. The role interacts with external and internal auditors, rating agencies and peers among commercial banks and international financial institutions on relevant issues related to the Bank's risk policies, procedures, portfolio analytics, models and risk management infrastructure.
Main responsibilities of the position will include;
- Provide people and thought leadership to the team and is responsible for all aspects of managing, supporting and developing the team to deliver the team strategy and objectives. This includes the line management of team members, and a continuous expansion of capability and skills within the team, managing the allocation of work across the team, and ensuring appropriate utilisation of staff at all times.
- As part of the Senior Management team of the Bank, contribute effectively and lead the process for shaping the Bank's Risk Appetite and Risk Management Strategy and engage in wider Bank initiatives, representing the Risk Department. Educate and align individuals in the team with the Bank's work, decisions and objectives.
- Provide effective leadership in the development of best practice risk policies and guidance. Promote a partnership approach to ensure effective co-operation and working relationships between Risk Management and other departments in the Bank. Maintain external network to ensure understanding of market practice.
- Provide oversight and strategic direction to the development of the Bank's economic capital modelling, stress testing, credit modelling, as well as market risk and liquidity risk model-based assessment. This includes the ECL model and engagement with the External Auditors to ensure their agreement as to the adequacy of IFRS 9 general provisions.
- Provide oversight of quality, consistency, and governance of risk models and data. Lead a model validation team to ensure professional good practice standards of model risk management within the context of our clients' activities.
- Develop, coordinate and deliver risk management information and intelligence about developments and prospective risks and exposures in the portfolio and deliver these in a timely manner to Senior Management, Board, rating agencies and auditors as required.
- Provide adequate challenge to Treasury strategy and risk taking. Participate in the Asset Liability Committee as Committee member. Oversee regular risk compliance checks for Banking and Treasury portfolios and authorise excesses of Treasury portfolio concentration limits as appropriate.
- Direct and hold responsibility for the risk system architecture and reporting of risk data from the IT systems and Risk Management System (RMS), the testing and validation of Treasury Front Office and Risk valuation models and the development of risk measurement methodologies.
- Coordinate assessment of risks related to new Banking products, determine adequate approach and policies, and coordinate approval process.
- Directly accountable for the engagement and effective overall management of staff including recruitment, compensation (as agreed with the Head of Department, if applicable), performance management, coaching and development.
- Champion and role model the Bank's Behavioural Competencies and Corporate Behaviours, ensuring adherence within the team(s) so that the highest standards of integrity and ethical conduct are exhibited at all times.
To be considered for this position, ideal candidates must have the following experience, knowledge and skills;
- Familiarity with risk policy frameworks and procedures, as well as data governance, reporting and portfolio analytics.
- Extensive exposure to derivatives, obtained first-hand in either trading, selling or risk management.
- Extensive engagement in the finance industry with optimally a combination of market risk management, model development, portfolio analytics, corporate banking, economic, and policy experience.
- Experience in data governance and reporting.
- Exposure to risk management processes and governance across all aspects of bank's activities.
- Strong analytic skills and interest in and ability to manage and work with data and come to clear conclusions and recommendations.
- Sufficient quantitative modelling capability to provide thought leadership and challenge to the model development and model validation teams.
- Ability to interface with Board members, senior management on technical matters using clear language.
- Strong written and oral presentation skills.
- Strong partnership skills to enable positive engagement with teams throughout the Bank and contribute to the cohesiveness of the Bank's senior management.
- Strong leadership, management and communication skills combined with an ability to motivate professionals to deliver business objectives effectively in a multi-cultural, results oriented organisation.
- Excellent written and spoken English; other languages a plus.
- Advanced degree in economics, finance, mathematics, sciences, business or international affairs from a leading university, or equivalent work experience.