Wholesale Credit Risk Analyst

Starling; Greater London; On-site; GBP 60,000 - 80,000; Full time

Job summary

A modern banking institution in the UK seeks a Wholesale Credit Risk Analyst to join their Financial Risk Team. This role involves analysis of wholesale credit risk, due diligence on product proposals, and monitoring credit exposures. Ideal candidates will have extensive experience in RMBS, covered bonds, and credit stress testing, along with strong analytical skills. Join a fast-growing bank aimed at transforming the banking sector with a proactive and flexible work environment.

Benefits

25 days holiday plus public holidays

Extra day off for your birthday

Annual leave purchase options

16 hours paid volunteering time a year

Enhanced pension scheme

Life insurance at 4x salary

Private Medical Insurance

Perkbox membership

Cycle to Work initiatives

Qualifications

• Extensive experience analyzing wholesale credit exposures.
• Strong experience in data analysis and credit stress testing.
• Flexible with the ability to manage multiple priorities.

Responsibilities

• Provide risk analysis of wholesale credit risk exposures.
• Conduct due diligence on new product proposals.
• Monitor exposures and update current limits.

Skills

Analysis of wholesale credit exposures

Experience in RMBS, covered bonds, consumer/auto ABS

Advanced Excel skills

Understanding of regulatory requirements

Strong influencing skills

Education

Quantitative degree

Tools

Bloomberg

Python

SQL

Job description

Hello, we're Starling. We built a new kind of bank because we knew technology had the power to help people save, spend and manage their money in a new and transformative way. We're a fully licensed UK bank with the culture and spirit of a fast-moving, disruptive tech company. We're a bank, but better: fairer, easier to use and designed to demystify money for everyone. We employ more than 3,500 people across our London, Southampton, Cardiff and Manchester offices.

To support our ongoing growth, we're looking to recruit a Wholesale Credit Risk Analyst within the 2nd line Financial Risk Team. The role covers the analysis of wholesale credit risk within the business. It will be hands-on with senior exposure. This role represents a fantastic opportunity to join a vibrant, fast growing institution and to shape the Bank's approach and infrastructure around wholesale credit risk and the Starling Treasury portfolio.

Starling's wholesale credit risk arises from its balance sheet management activities and its investments in securities, such as covered bonds and asset backed securities. Starling is looking for an analyst with previous experience of performing analysis of financial institutions and treasury investments (Covered Bonds, RMBS, ABS, SSAs) in order to support decision making on what counterparty and investment limits Starling should have in place.

While the principal focus of this role will be on wholesale credit risk, we are also looking for someone that is flexible and willing to work across other disciplines within the financial risk team such as Capital Risk, Liquidity Risk, Market Risk, Climate Risk and Recovery & Resolvability.

Work will include:

• Providing robust risk analysis of the Bank's wholesale credit risk exposures ahead of new investments in a prompt and timely manner;
• Undertaking in depth due diligence and analysis of new product proposals;
• Performing annual reviews of existing wholesale credit lines;
• Undertaking ongoing monitoring of exposures and undertaking regular reviews of current limits to ensure that they remain appropriate;
• Continue to develop accurate and fit for purpose stress testing of the portfolio as appropriate;
• Continue to develop Starling's wholesale credit risk policy, risk appetite, limits and key risk indicators;
• Continue to develop and improve the in-house credit rating system for Starling;
• Assist team members across the financial risk team on other risk disciplines as required;
• Establish good working relationships and work together closely with the 1LoD Treasury and Finance teams; supporting them to achieve their objectives and providing constructive challenge;
• Attending credit committee meetings and presenting to senior management were necessary;
• Undertaking horizon scanning of new regulatory requirements and making considerations of the impacts; and
• Supporting other areas of Financial Risk when needed across Capital, Liquidity, Market and Climate Risk.

Requirements

• Extensive, hands-on experience of conducting analyses of wholesale credit exposures - with a particular emphasis on RMBS, covered bonds & consumer/auto ABS. The ability to analyse financial institutions and SSAs as well;
• Strong demonstrable experience working in a 2LOD risk function, 1LOD front or middle office Treasury function with expertise in wholesale credit risk;
• Quantitative mindset and education;
• Advanced Excel skills (formulas, pivot tables, ideally VBA or Power Query);
• Advanced Bloomberg experience (Excel API and downloading and organising of Bloomberg data to assist in analysis and monitoring of performance);
• Experience working with credit stress testing, showing understanding of how losses are modelled and accounted for, for mortgage and consumer credit portfolios;
• Previous experience at a rating agency analysing RMBS & Consumer ABS would be ideal;
• Strong experience of model development, ideally working with languages such as Python and SQL;
• Understanding of regulatory requirements for wholesale credit risk;
• A general understanding of financial markets and bank regulatory capital risks/stress testing with an interest to develop skills in these areas;
• Flexible and adaptable; must be able to juggle multiple competing priorities whilst managing expectations;
• Self-starter; proactive attitude, committed to continuous improvement and willing to drive different initiatives in a changing environment;
• Attention to detail and accuracy;
• Previous experience of optimising and automating wholesale credit risk processes (analysis, performance monitoring etc);
• Strong influencing skills and an ability to manage change and react quickly with a view;
• Excellent interpersonal skills, including the ability to challenge in a positive manner and handle difficult situations;
• Excellent decision making, planning and prioritising skill;

Benefits

• 25 days holiday (plus take your public holiday allowance whenever works best for you)
• An extra day's holiday for your birthday
• Annual leave is increased with length of service, and you can choose to buy or sell up to five extra days off
• 16 hours paid volunteering time a year
• Salary sacrifice, company enhanced pension scheme
• Life insurance at 4x your salary
• Private Medical Insurance with VitalityHealth including mental health support and cancer care. Partner benefits include discounts with Waitrose, MrMrs Smith and Peloton
• Generous family-friendly policies
• Perkbox membership giving access to retail discounts, a wellness platform for physical and mental health, and weekly free and boosted perks
• Access to initiatives like Cycle to Work and Salary Sacrificed Gym partnerships

About Us

You may be put off applying for a role because you don't tick every box. Forget that! While we can't accommodate every flexible working request, we're always open to discussion. So, if you're excited about working with us, but aren't sure if you're 100% there yet, get in touch anyway.

We're on a mission to radically reshape banking - and that starts with our brilliant team. Whatever came before, we're proud to bring together people of all backgrounds and experiences who love working together to solve problems.

Starling Bank is an equal opportunity employer, and we're proud of our ongoing efforts to foster diversity & inclusion in the workplace. Individuals seeking employment at Starling Bank are considered without regard to race, religion, national origin, age, sex, gender, gender identity, gender expression, sexual orientation, marital status, medical condition, ancestry, physical or mental disability, military or veteran status, or any other characteristic protected by applicable law.

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