Alm Risk Analyst

The main purpose of this position is to ensure that the Risk Support Department (RSD) discharges its responsibilities related to asset and liability management (ALM) risk management.

This includes being part of a team of risk specialists responsible for providing expertise in ALM-related risk supervision and regulation, specifically concerning liquidity risk and interest rate risk in banking and insurance companies.

Detailed description

The successful candidate will be responsible for the following key performance areas:

1. Review and evaluate insurance firms' ALM frameworks, reports, and their ability to manage ALM-related risks.
2. Assist in developing internal policies and processes for supervising ALM-related risks.
3. Promote understanding of concepts and developments in ALM risk management throughout the PA.
4. Provide expert guidance on compliance with regulatory requirements related to ALM for supervised institutions.
5. Develop analytical methods to analyze and interpret risk-based regulatory data submissions.
6. Conduct on- and off-site reviews of ALM-related risks within the insurance sector.
7. Identify ALM-related risks by reviewing applications from supervised institutions.
8. Offer specialist support regarding ALM-related risks within the Prudential Authority (PA).
9. Stay informed of international best practices and developments in ALM risk management.
10. Advise the PA on the aggregate behavior of insurers concerning ALM risks.
11. Ensure the ORSA process adequately captures ALM-related risks.

Job requirements

• Postgraduate qualification in Risk Management, Finance, Accounting, or Auditing.
• Five to eight years of applicable experience in the insurance or financial sector or within risk management.
• Additional advantages include:
• Knowledge of Basel frameworks related to liquidity risk, both theoretical and practical.
• Familiarity with international ALM risk management best practices.
• Knowledge of the Insurance Act.
• Possession of FRM or PRMIA qualifications.

Additional requirements include:

• Understanding of risks faced by insurance companies.
• Ability to travel for on-site reviews and assessments.
• Strong analytical and problem-solving skills.
• Excellent verbal and written communication skills.
• Good interpersonal skills and ability to work in a team (hybrid and face-to-face).
• Proficiency in Microsoft Office and related software.