Manager, Specialist Financial Risk in UKDT Specialists Team - Credit and Liquidity Team

Bank of England; London; On-site; GBP 79,000 - 93,000; Full time

Job summary

An established industry player is seeking a Manager for the Specialist Financial Risk team. This role offers the opportunity to lead credit risk supervisory efforts across various firms, providing technical support and mentoring junior team members. The ideal candidate will possess strong credit risk management skills, particularly within retail or SME banking, and will be responsible for conducting asset quality reviews and thematic analyses. Join a dynamic team dedicated to maintaining a safe and competitive banking system in the UK, while enjoying a comprehensive benefits package and opportunities for professional growth.

Benefits

Comprehensive Benefits Package

Private Medical Insurance

26 Days Annual Leave

Pension Scheme

Flexible Working Arrangements

Qualifications

• 5+ years of experience in credit risk management within retail or SME banking.
• Strong understanding of credit risk management frameworks and policies.

Responsibilities

• Coordinate credit risk supervisory efforts across various firms.
• Conduct asset quality reviews and thematic analysis.

Skills

Credit Risk Management

Retail Banking Knowledge

Data Manipulation Tools (SAS, SQL, R)

Analytical Skills

Communication Skills

Mentoring and Coaching

Relationship Building

Stress Testing Models

Education

Bachelor's Degree in Finance or Related Field

Master's Degree (Preferred)

Tools

Excel

Tableau

Job description

Manager, Specialist Financial Risk in UKDT Specialists Team - Credit and Liquidity Team

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Manager, Specialist Financial Risk in UKDT Specialists Team - Credit and Liquidity Team

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The UK Deposit Takers (UKDT) directorate is responsible for the supervision of over 600 UK banks, building societies and credit unions. Its aim is to contribute to a safe, sound and competitive UK banking system through delivering effective prudential supervision. Division overview

Within UKDT, the Specialist Supervision Division (SSD) is a centre of expertise on the key prudential risks of capital, liquidity, credit, recovery planning and operational resilience. It conducts specialist reviews and provides technical input to support firm supervisors and policy colleagues in these crucial areas.

SSD also plays a key role in supporting firm supervisors and the leadership team by identifying, monitoring and responding to key cross-firm supervisory risks and ensuring successful implementation and embedding of new regulatory policy with supervisors and firms, for instance via cross-firm events and written communication channels.

The advertised role is in the UKDT Specialists' Credit team. This is an exciting opportunity for a Technical Specialist with expertise in credit risk management within the UK Retail or Small and Medium Enterprise (SME) banking sectors. The new role holder will co-ordinate UKDT's credit risk supervisory efforts across all firms, from the most significant Category 1 firms to the smaller and medium sized Non-Systemic firms and deliver more in-depth technical support to supervisors for some of the highest profile smaller firms in the UK retail banking sector. The role will also include mentoring and coaching more junior members of the team.

The Credit Specialist team handles all the exciting credit issues facing these deposit taking firms. They carry out a variety of asset quality reviews (e.g. retail mortgages, credit cards or SME lending), credit risk management reviews, thematic analysis and peer benchmarking. They also provide key inputs into capital stress test analysis, support potential new bank authorisations and engage on policy developments.

Role requirements

The successful applicant will work collaboratively across the Bank's directorates to provide well-informed technical advice to supervisors. For example the jobholder will work on some or all of the following:

• Co-ordinating UKDT's credit risk supervisory efforts across Catagory-1 and Non-Systemic Firms via the Credit Risk Working Group. Networking across all relevant policy and strategy areas (SRS, FSSR, Markets, PPD) and maintaining an excellent handle on broader macro issues to share and communicate key themes and provide strategic leadership and advice to supervisors
• Asset quality reviews and thematic analysis, which typically include a review of the firm's Credit Risk Management Framework and supporting policies; including how risk appetite supports the firms' strategy, market position and sustainability. Leading onsite or virtual visits, production of reports assessing the material risks to firms' credit portfolios, using quantitative and qualitative analysis and communicating findings to internal panels.
• Providing support to the newest banks seeking authorisations through specialist reviews of new business models, credit planning and management. This involves giving constructive feedback to potential new banks to enable them to establish appropriate policies and procedures to operate as an authorised bank.
• Desk based stress testing, running and enhancing an internally developed toolkit to apply macro-economic judgements and scenarios to the balance sheets of smaller firms. This involves providing credit input into the model and supporting key credit assumptions going into the model.
• Analysis of policy developments to identify potential consequences for firms.
• Strong credit risk skills with Retail or SME banking knowledge. That is an in-depth understanding of credit risk management across the life cycle for retail products (e.g. mortgages, credit cards) and/or SME evidenced by significant experience of credit portfolio risk management
• Greater than 5 years of credit experience within a bank or regulator.
• Detailed knowledge of the latest market developments in order to fully understand a firm's exposure to credit risk
• Strong understanding of the broader macro environment and risks to banks' business models
• Ability to utilise analysis of firms' credit risk management information to form judgements and deliver potentially difficult messages to senior executives and directors
• Ability to produce clear and appropriate oral and written communication tailored to circumstances e.g. presenting at Committees
• A proven track record of building relationships and working collaboratively with others
• A proven track record of delivering through others
• Ideally experience of working at a senior level in a Credit function within retail or SME banking
• An understanding of retail risk models that may include: application or behavioural scorecards; account management models; forecasting models; IRB modelling; IFRS 9 models; stress testing models
• Experience of data manipulation tools (e.g. SAS, SQL, R) and data visualisation techniques (Excel, Tableau etc.)
• Well organised, comfortable setting targets and delivering under own initiative, whilst ensuring the needs of key stakeholders are met
• Considerable drive, tenacity and focus with a track-record of delivering on objectives
• Good judgement and the ability to cover a wide variety of issues, focusing on key issues
• Passion and dedication for mentoring and developing colleagues

Location: Leeds or London

The UK Deposit Takers (UKDT) directorate is responsible for the supervision of over 600 UK banks, building societies and credit unions. Its aim is to contribute to a safe, sound and competitive UK banking system through delivering effective prudential supervision. Division overview

Within UKDT, the Specialist Supervision Division (SSD) is a centre of expertise on the key prudential risks of capital, liquidity, credit, recovery planning and operational resilience. It conducts specialist reviews and provides technical input to support firm supervisors and policy colleagues in these crucial areas.

SSD also plays a key role in supporting firm supervisors and the leadership team by identifying, monitoring and responding to key cross-firm supervisory risks and ensuring successful implementation and embedding of new regulatory policy with supervisors and firms, for instance via cross-firm events and written communication channels.

Job description

The advertised role is in the UKDT Specialists' Credit team. This is an exciting opportunity for a Technical Specialist with expertise in credit risk management within the UK Retail or Small and Medium Enterprise (SME) banking sectors. The new role holder will co-ordinate UKDT's credit risk supervisory efforts across all firms, from the most significant Category 1 firms to the smaller and medium sized Non-Systemic firms and deliver more in-depth technical support to supervisors for some of the highest profile smaller firms in the UK retail banking sector. The role will also include mentoring and coaching more junior members of the team.

The Credit Specialist team handles all the exciting credit issues facing these deposit taking firms. They carry out a variety of asset quality reviews (e.g. retail mortgages, credit cards or SME lending), credit risk management reviews, thematic analysis and peer benchmarking. They also provide key inputs into capital stress test analysis, support potential new bank authorisations and engage on policy developments.

Role requirements

The successful applicant will work collaboratively across the Bank's directorates to provide well-informed technical advice to supervisors. For example the jobholder will work on some or all of the following:

• Co-ordinating UKDT's credit risk supervisory efforts across Catagory-1 and Non-Systemic Firms via the Credit Risk Working Group. Networking across all relevant policy and strategy areas (SRS, FSSR, Markets, PPD) and maintaining an excellent handle on broader macro issues to share and communicate key themes and provide strategic leadership and advice to supervisors
• Asset quality reviews and thematic analysis, which typically include a review of the firm's Credit Risk Management Framework and supporting policies; including how risk appetite supports the firms' strategy, market position and sustainability. Leading onsite or virtual visits, production of reports assessing the material risks to firms' credit portfolios, using quantitative and qualitative analysis and communicating findings to internal panels.
• Providing support to the newest banks seeking authorisations through specialist reviews of new business models, credit planning and management. This involves giving constructive feedback to potential new banks to enable them to establish appropriate policies and procedures to operate as an authorised bank.
• Desk based stress testing, running and enhancing an internally developed toolkit to apply macro-economic judgements and scenarios to the balance sheets of smaller firms. This involves providing credit input into the model and supporting key credit assumptions going into the model.
• Analysis of policy developments to identify potential consequences for firms.

Minimum Criteria

• Strong credit risk skills with Retail or SME banking knowledge. That is an in-depth understanding of credit risk management across the life cycle for retail products (e.g. mortgages, credit cards) and/or SME evidenced by significant experience of credit portfolio risk management
• Greater than 5 years of credit experience within a bank or regulator.
• Detailed knowledge of the latest market developments in order to fully understand a firm's exposure to credit risk
• Strong understanding of the broader macro environment and risks to banks' business models
• Ability to utilise analysis of firms' credit risk management information to form judgements and deliver potentially difficult messages to senior executives and directors
• Ability to produce clear and appropriate oral and written communication tailored to circumstances e.g. presenting at Committees
• A proven track record of building relationships and working collaboratively with others
• A proven track record of delivering through others

Desirable criteria

• Ideally experience of working at a senior level in a Credit function within retail or SME banking
• An understanding of retail risk models that may include: application or behavioural scorecards; account management models; forecasting models; IRB modelling; IFRS 9 models; stress testing models
• Experience of data manipulation tools (e.g. SAS, SQL, R) and data visualisation techniques (Excel, Tableau etc.)
• Well organised, comfortable setting targets and delivering under own initiative, whilst ensuring the needs of key stakeholders are met
• Considerable drive, tenacity and focus with a track-record of delivering on objectives
• Good judgement and the ability to cover a wide variety of issues, focusing on key issues
• Passion and dedication for mentoring and developing colleagues

___

Our Approach to Inclusion

The Bank values diversity, equity and inclusion. We play a key role in maintaining monetary and financial stability, and to do that effectively, we believe we need a workforce that reflects the society we serve.

At the Bank of England, we want all colleagues to feel valued and respected, so we're working hard to build an inclusive culture which supports people from all backgrounds and communities to be at their best at work. We celebrate all forms of diversity, including (but not limited to) age, disability, ethnicity, gender, gender identity, race, religion, sexual orientation and socioeconomic status. We believe that it's by drawing on different perspectives and experiences that we'll continue to make the best decisions for the public.

We welcome applications from individuals who work flexibly, including job shares and part time working patterns. We've also partnered with external organisations to support us in making adjustments for candidates and employees in the recruitment process where they're needed.

For most roles where work can be carried out at home, we aim for colleagues to spend half of their time in the office, with a minimum of 40% per month. Subject to that minimum requirement, individuals and managers should work together to find what works best for them, their team and stakeholders.

Finally, we're proud to be a member of the Disability Confident Scheme. If you wish to apply under this scheme, you should check the box in the 'Candidate Personal Information' under the 'Disability Confident Scheme' section of the application.

Salary and Benefits Information

We encourage flexible working, part time working and job share arrangements. Part time salary and benefits will be on a pro-rated basis as appropriate.

This role offers a salary of:

• London - £79,870 - £92,160
• Leeds - £73,760 - £82,980

In addition, we also offer a comprehensive benefits package as detailed below:

• Currently a non-contributory, career average pension giving you a guaranteed retirement benefit of 1/80th of your annual salary for every year worked. There is the option to increase your pension (to 1/65th) or decrease (to 1/105th) in exchange for salary through our flexible benefits programme each year. The Bank has the discretion to vary standard accrual rates and dial up and dial down rates at any time and to withdraw dial up and dial down options at any time.
• A discretionary performance award based on a current award pool.
• An 8% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits.
• 26 days' annual leave with option to buy up to 12 additional days through flexible benefits.
• Private medical insurance and income protection.

National Security Vetting Process

Employment in this role will be subject to the National Security Vetting clearance process (and typically can take between 6 to 12 weeks post offer) and the passing of additional Bank security checks in accordance with the Bank policy. Further information regarding the vetting and security clearance requirements for the role will be provided to the successful applicant, and information about how the Bank processes personal data for these purposes, is set out in the Bank's Privacy Notice.

The Bank of England welcomes applications from all candidates, but as a UK Visas and Immigration (UKVI) approved sponsor, we have a responsibility to comply with the Immigration Rules and guidance. As such, our ability to employ individuals who require sponsorship for immigration purposes is limited. The Bank cannot guarantee that you and / or the role you are applying for will be eligible for sponsorship and that any application made to UKVI will be successful. Eligibility will therefore be considered on a case by case basis.

The Application Process

Important: Please ensure that you complete the 'work history' section and answer ALL the application questions fully. All candidate applications are anonymised to ensure that our hiring managers will not be able to see your personal information, including your CV, when reviewing your application details at the screening stage. It's therefore really important that you fill out the work history and application form questions, as your answers will form a critical part of the initial selection process.

The assessment process will comprise of two interview stages.

This role closes on 4th May.

Please apply online, ensuring that you complete your work history and answer ALL the application questions fully and in detail as your application will not be considered if all mandatory questions are not fully completed.

Seniority level

• Seniority level

  Mid-Senior level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Finance

• Industries

  Banking, Credit Intermediation, and Financial Services

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