IRB Quantitative Risk Analyst

Handelsbanken plc; London; On-site; GBP 45,000 - 75,000; Full time

Job summary

Join a forward-thinking bank as an IRB Quantitative Risk Analyst, where you will play a key role in developing and implementing Internal Ratings Based models. This position offers a unique opportunity to engage in data analysis and model development, ensuring compliance with regulatory requirements. You will work collaboratively within a dynamic team, contributing to the continuous improvement of risk management processes. With a strong commitment to diversity and inclusion, the bank fosters an empowering environment where your contributions are valued, and your career can flourish. If you are passionate about risk analysis and looking for a long-term career in a supportive setting, this role is for you.

Benefits

Private medical insurance

Income protection

Life assurance

Market-leading pension contribution of 15%

Learning and development opportunities

Qualifications

• Experience in financial services with a focus on IRB model development.
• Strong analytical background with hands-on experience in statistical data programs.

Responsibilities

• Support model development of IRB Retail models according to internal policies.
• Conduct data quality assessments and remediation activities.

Skills

IRB model development

Data analysis

Analytical skills

Numerical skills

Understanding of IRB regulation

Education

Degree in Statistics

Degree in Mathematics

Degree in Data Science

Degree in Engineering

Tools

SAS

SQL

Job description

Job Introduction

Our UK Risk department is responsible for risk control within Handelsbanken plc ensuring there is a comprehensive and objective view of all risks in the Bank's business operations, providing independent management assurance to the UK CEEO that the business are identifying and managing its risks adequately.

The UK Credit Risk team is responsible for Credit and Portfolio Oversight, Credit Risk modelling, Climate Risk embedment and IRB implementation. The breadth of the deliverables, and the fact that processes, modelling and analytical capabilities are continuously being developed and improved, demands a flexible and collaborative approach from team members to ensure solid team performance in coordination with the business.

The role of IRB Quantitative Risk Analyst works within the Credit Risk Modelling team where the goal is to roll out the Internal Ratings Based (IRB) approach to Handelsbanken's portfolios over the next few years. The Quantitative Risk Analyst will support the Bank in obtaining the IRB permission by doing data analysis, model development and monitoring as per the IRB regulatory requirements.

Main Responsibilities

• Operates in line with the Bank's Risk Management framework (including sub-frameworks) and relevant risk and compliance policies and procedures, ensuring appropriate and timely escalation of any concerns to their line manager.
• Support the model development of a range of IRB Retail models in accordance with Handelsbanken's internal policies and standards for the following IRB models:

O Rating/Scorecards

O Probability of Default (PD), Loss Given Default (LGD) and Exposure at Default (EAD) models

O Stress testing models

• Provide assessment of data availability against the requirements, identification of data gaps, data quality assessment and remediation activities.
• Providing input to the ongoing regulatory self-assessment for IRB
• Production of model documentation and reports in accordance with internal standards
• Supporting ongoing model maintenance such as ad hoc model testing, recalibration and annual model reviews

Ideal Candidate

Research (by Harvard University) shows that women are particularly likely to second guess themselves and not apply - so if you are worried you don't meet all the criteria, get in touch anyhow and let us do the worrying...

• Relevant experience working in financial services, including IRB model development and data analysis;
• Solid understanding of the IRB regulation (CRR, EBA, PRA)
• Have a strong analytical background and numerical skills
• Be degree educated or equivalent, preferably in statistics, mathematics, data science or engineering;
• Hands on experience from one or more statistical data programmes such as SAS, SQL;
• Be proactive, able to act on their own initiative and ownership of own work; delivering high quality outcomes

Company Information

Handelsbanken is a relationship bank with a decentralised way of working, a strong local presence thanks to a nationwide network of branches, and a long-term approach to customer relations. Each Handelsbanken branch operates as a local business enabling it to make decisions at a local level and provide a bespoke service. The focus is always on the need of the individual customer and not on the sale of specific products.

The Bank is deeply committed to embedding good equality and diversity practice into all of our activities. This is so that we are an inclusive, welcoming and inspiring place to work that encourages everyone to apply, regardless of socio-economic background, age, disability, pregnancy and/or parental status, race (including colour, nationality, and ethnic or national origin), veteran status, marital and civil partnership status, religion or belief, sex, gender reassignment or sexual orientation.

Check our Handelsbanken website for further information

At Handelsbanken, we deeply value our unique culture and values including trust in and respect for each individual. We take pride in nurturing a work environment where people flourish, and where they are empowered to take decisions in their areas of expertise. We take a long term perspective in everything we do and want each employee who joins us to build a long terms successful career with the Bank.

What is in it for you?

• We have a wide range of learning and development available, empowering and enabling our colleagues to take ownership of their own development.
• Competitive Salary and an extensive range of benefits is provided, including private medical insurance, income protection and life assurance
• A market-leading pension contribution of 15% paid by the bank, which can be invested in a wide range of funds (including ESG and Shariah funds)

Application next steps

Your journey with us begins once you have submitted your application. One of our Handelsbanken recruiters will be reviewing your details and will later organise a phone conversation if you match the role requirements. If there is a mutual fit, we will extend an invitation for you to participate in an interview.

How can we support you to be your best self? Our Talent Acquisition team will be happy to provide support e.g. if you need additional time to prepare for an interview or you have any requirements for any part of the interview/hiring process - just let us know by email [e-mail] .

This advert will be live for a minimum of two weeks. However, please note that after the two weeks, the closing date could change at any time depending on the number of responses received.

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