Prudential Risk Officer

LGBT Great; Manchester; On-site; GBP 100,000 - 125,000; Full time

Job summary

A leading risk management organization in Manchester is seeking a Prudential Risk Manager to support the Chief Risk Officer. The ideal candidate will ensure an effective Risk Management Framework, focusing on prudential risks and regulatory compliance. Responsibilities include conducting Second Line reviews, overseeing risk assessments, and promoting a robust risk culture across the organization. Strong expertise in Credit and Financial Risk management is essential. This role offers opportunities for professional growth and stability within a collaborative environment.

Qualifications

• Strong understanding of Credit and Financial Risk-related areas.
• Experience with Prudential Risk Management frameworks.
• Ability to conduct reviews of regulatory documents and risk assessments.

Responsibilities

• Support the Chief Risk Officer in Risk Management.
• Ensure effective Enterprise Risk Management.
• Monitor regulatory developments and conduct regular reviews.

Job description

Overview

Job Title: Prudential Risk Manager

Reporting to: Chief Risk Officer

Job Purpose: The purpose of the role is to support the Chief Risk Officer in ensuring that the organization has an effective Risk Management Framework in place, with a particular focus on Prudential Risk. The role will act as a subject matter expert within the Second Line of Defence on all Credit and Financial Risk-related areas to support the delivery of the Second Line Monitoring Plan.

Main Duties and Responsibilities

• Assisting in ensuring effective Enterprise Risk Management, embedding the Risk Management Framework and Risk Appetite Framework within the organization.
• Providing Second Line review and challenge of key prudential regulatory documents, including the ILAAP and ICAAP, with a focus on liquidity stress testing, capital requirement assumptions, and modelling.
• Reviewing Recovery Planning, including modelling recovery capacity, options, indicators, and their impact on stressed scenarios.
• Challenging updates to Lending Policy and Financial Risk Management Policy, ensuring understanding of cumulative impacts.
• Supporting the production of Credit Risk, Financial Risk, Key Risk Indicator, and Recovery Plan reports.
• Assessing business performance against Risk Appetites.
• Preparing reports for various committees.
• Conducting regular Second Line reviews of key models.
• Monitoring regulatory developments and ensuring timely assessment.
• Supporting the Governance, Risk & Compliance team in testing key controls, especially from a prudential perspective.
• Overseeing the Risk Event Log and Risk Registers, ensuring root-cause analysis and self-assessments.
• Ensuring horizon scanning for economic, market, and technological risks.
• Reviewing capital, liquidity returns, and other reports for regulators.
• Challenging assumptions in affordability assessments for lending.
• Reviewing asset quality and default probabilities across the Credit Risk Framework.
• Conducting reviews of the Credit Risk Framework and the credit lifecycle.
• Performing file reviews to ensure lending aligns with policies and criteria are monitored.
• Leading analysis of Credit Risk portfolios to challenge the First Line and prevent financial shocks.
• Reviewing Credit Risk management information and conducting thematic reviews.
• Reviewing Treasury Risk, ALM, and related areas.
• Partnering with the business to ensure proper management of Prudential Risks, including risk identification, assessment, and reporting.
• Maintaining awareness of economic and regulatory environments.
• Advising and challenging the First Line of Defence to improve risk management.
• Promoting a strong risk culture organization-wide.
• Supporting the wider Governance, Risk & Compliance team as needed.