Regulatory Risk, Governance, PRU, Basel, CRD, Reporting, Credit risk models, Excel
Working with a leading investment/retail bank based in London to secure the services of a Regulatory Risk governance manager.
Role purpose
The environment in which the bank operates is subject to increasing regulatory change - with major changes to the regulation governing model development and model usage through the introduction of Basel 3.1 and ongoing compliance with new IRB-Repair requirements. The PRA has recently published new Model Governance standards (SS 1/23) and other local regulators are also enhancing standards. Against this backdrop of the banks European operations are still in the process of realignment as a response to Brexit, CRD V and other internally driven structural changes.
The role supports senior management in ensuring that the risk rating system (including IRB Capital models) meet both internal and regulatory standards and support model governance within the team including management of Audit findings, EUCs and MSIIs. The role also supports GRA's input to major regulatory project such Integrity Regulatory Reporting (response to S166 review of Regulatory Reporting).
The role will also support senior management in understanding the impact of regulatory proposals on the business and work with GRA colleagues and other stakeholders to respond to consultations relevant to the team's area of responsibility.
Context
Role is suitable for hybrid working with the expectation that the role holder will typically spend 1 - 2 days a week based in London and assumes a leading role in understand regulatory change and supporting the bank's implementation of these changes. This position reports to the Global Head of Model Standard and Policy.
Model governance is also an issue for internal audit and for regulators more generally. The jobholder will be expected to support the management of models within GRA and ensure that model developments and monitoring adheres to Global Standards and local regulatory requirements.
Role is also response for managing regulatory requests related to IRB models sourcing information from multiple stakeholders and ensuring that where information is expected to reconcile to published or supplied information that this reconciliation (or reasons for difference) is documented. The role holder would therefore need to understand regulatory reporting and be comfortable manipulating risk/finance data.
The combination of knowledge and skills to fulfil this type of role is not common in the market (particularly given the complexity of the bank its structure and products), therefore the role holder will therefore need to be constantly developing their knowledge in this area whilst maintaining a sound understanding of the banks structures and products.
Knowledge and experience
