Prudential Risk Manager

  • Atom bank
  • Durham, England, United Kingdom
  • 02/08/2020
Full time Accounting Finance Sales Analysts Backoffice Compliance Legal Trading

Job Description

Location Durham

Contract Type Permanent

Hours Full time

We’re Atom bank

We’re an app only bank, so we don’t have any branches on the high street. Traditional we are not.
  • Featured in London Stock Exchange’s 1,000 Companies to Inspire Britain 2019.
  • Ranked 12th in Business Cloud’s 100 FinTech disruptors list which looks at the UK’s most exciting financial technology companies.
  • Named in the Chronicle’s top 50 best places to work in the North East (listed in the top 20).
Want to join us?

Key Areas Of Activity Include

Responsible for projects and activities supporting the Head of Financial Risk in effectively managing the Prudential Risk delivery of the firm.
  • Lead, co-author and co-ordinate the Bank’s ICAAP, applying a critical review of inputs received
  • Lead the delivery of the Bank’s Recovery Plan, managing the project and inputs from various contributors
  • Lead the delivery of the Bank’s Wind Down Plan, co-ordinating and consolidating various contributor’s inputs
  • Author and co-ordinator of the Bank’s Resolution Pack
  • Provide editorial oversight to the ILAAP for consistency with the Bank’s other documents from a messaging and stylistic point of view, but not requiring subject matter input
  • Understanding solvency risks faced by the firm, driving consistent implementation of capital management policy, implementing appropriate metrics for measuring and monitoring solvency risk, tracking deviations from limits, assessing underlying drivers and identifying mitigating actions
  • Challenge the business plan and stress tests thereof, provide an input into setting the stress scenarios
  • Shape the Bank’s risk appetite on prudential risk matters
  • Lead or co-ordinate the implementation of upstream regulatory change, monitoring the horizon and analysing impact, in co-operation with the Finance team as necessary
  • Provide input into regulatory engagement and represent the Atom at regulatory reviews such as C-SREP
  • Lead the firm’s response to regulatory consultations
  • Lead or support Atom’s engagement with industry bodies, such as UK Finance
  • Support the Bank’s application for initial A-IRB waiver, as well as its extension to new lending products and subsequently maintain a framework to ensure ongoing compliance with regulatory requirements
  • Engage in strategic business development/key change management initiatives to ensure that prudential risk exposure is fully considered and addressed
  • Provide oversight, challenge or assurance on regulatory returns, with particular focus on those related to capital
  • Contribute to 2nd line validation of financial and treasury models, as part of the in-house validation programme
  • Back-fill for the Market and Liquidity Risk Manager and/or for the Head of Financial Risk during their absence
  • Acting as a key member of the Risk function supporting and participating in a high-performance team
What will your ‘typical’ day look like? (but, no two days are the same at Atom):
  • Lead the ICAAP, author defined sections of ICAAP Document, to be agreed from time to time
  • Manage the delivery and co-author the Recovery Plan
  • Lead the delivery of the Bank’s Wind Down Plan
  • Lead author of the Resolution Pack
  • Editorial oversight of the ILAAP
  • Oversight and challenge of financial plans (BAU and stress)
  • Develop and maintain Capital Management Policy and monitor capital adequacy against regulatory minima and Board approved risk appetite
  • Provide critical scrutiny of capital and pricing models arising from Finance
  • Provide input to the Assets and Liabilities Committee (ALCO), Executive Risk Committee (ERC) and Board Risk Committee (BRC), and MI to the Board
  • Scan the regulatory change horizon, assess impact on Atom, engage in consultations directly or through industry bodies as appropriate and oversee implementation
  • Provide oversight of new product development, ensuring that prudential risks are understood and are factored into plans
  • Provide oversight and assurance of regulatory returns
  • Provide input to the Key & Emerging Risks Register with regard to solvency risks
  • Contribute to the Bank’s annual report and Pillar 3 disclosures
  • Support the Bank’s initial A-IRB programme, additions of products and ongoing compliance
  • Build and maintain close working relationships with Finance while maintaining independence
All roles within Atom must adhere to the Conduct Rules as set out by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA).

As part of our journey in building and running a bank we’ll encounter many risks along the way. In order to make sure the road doesn’t become too bumpy we expect everyone to make a conscious effort to proactively tackle and highlight any risks that we might face.

What do we need from you?
  • Substantial experience in retail banking industry, including demonstrated success in a similar role or otherwise ready to step up to equivalent role
  • Familiarity with financial planning cycles and practices
  • Detailed knowledge of Basel/CRR regulatory frameworks and best practices in compliance
  • Prior experience in dealing with regulators, whether directly or indirectly
  • Prior experience with presenting to Executive and Board committees

  • Strong written English and Excel skills
  • Strong project management skills
  • Strong analytical and problem-solving skills and demonstrable ability to work independently
  • Ability to manage across multiple competing priorities without compromising on quality of outcomes
  • Strong attention to detail
  • Good business acumen, including the ability to assess risk and appropriate levels of return
What would we ideally like from you?
  • Degree in finance, economics or mathematics preferred
  • Experience in a prudential role in an A-IRB firm, or even better if in one that went through A-IRB application
  • Prior experience in Financial Planning and Analysis
  • Financial modelling capabilities
  • Risk management qualification (e.g. GARP, PRMIA), Finance qualification (e.g. CFA) or Treasury (CertBALM or ACT) advantageous
  • Excellent interpersonal skills
  • Strong PowerPoint skills
  • Experience with Financial Planning models is an advantage
  • Experience with model risk management and/or validation and testing
  • Excellent communication skills, with the ability to translate complex technical issues for a variety of audiences
  • Strong project leadership and influencing skills at all levels

What You’ll Get From Us
  • Competitive Salary
  • Annual share option bonus – performance related, up to 10% of basic salary
  • Incredibly generous company pension scheme (13% Atom contribution)
  • 25 days holiday + 8 statutory days – rising by half a day with every year in the company
  • Private medical insurance for you and immediate family
  • ‘All About Me’ fund – £200 per year to spend on learning a new skill (but it can’t be anything to do with your job). Recently people have done upholstery courses, had driving lessons and a rowing membership.
  • Health cash plan – expenses paid on optical/dental/other appointments/treatments
  • Life insurance – four times annual salary
  • Critical illness cover – 1 x lump sum annual salary
  • Cycle to Work Scheme
  • Continuous development – professional qualifications
PLEASE NOTE: You must have the legal right to work in the UK to apply for this role. Atom bank are unable to support Visa Applications/Sponsorship.

Atom bank is an equal opportunities employer. We value you as an individual and therefore disregard race, religion/belief, gender, sexual orientation, maternity/pregnancy, age, gender reassignment, marriage/civil partnership and disability in any hiring decisions we make. Atom bank will always adhere to the Equality Act 2010.