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- Tasks: Lead stress testing, model risk management, and market risk policy implementation.
- Company: BACB is a UK bank specializing in trade finance and investment in Africa and the Middle East.
- Benefits: Enjoy hybrid working with 3 days onsite and 2 from home in the vibrant City of London.
- Why this job: Join a dynamic team to shape risk strategies and make impactful decisions in a reputable bank.
- Qualifications: Experience in banking, strong analytical skills, and proficiency in financial modeling required.
- Other info: Permanent contract with opportunities for professional growth and collaboration with senior management.
The predicted salary is between 72000 - 108000 ÂŁ per year.
BACB is a UK bank that offers trade finance and investment expertise to clients in specialist markets, especially Africa and the Middle East.
We have been helping businesses with trade finance and complementary products for over half a century, focusing on trade flows to and from Africa and the Middle East as well as real estate in the UK.
Our in-depth knowledge of the countries and practices where our clients operate ensures that we put them first.
Additional Info
- Hybrid Working: 3 days onsite, 2 from home
- Location: City of London
- Contract Type: Permanent
Job Summary
We are seeking a highly skilled and experienced Associate Director level professional to join our Market Risk and Modelling team based in London. Reporting to the Director of Market Risk and Modelling, the successful candidate will play a pivotal role in maintaining the Bank’s risk management analytics and stress testing function, the management of model risk and associated governance, and implementing market risk policies across the Bank.
Additionally, the Associate Director will contribute to the formulation and implementation of BACB’s stress testing plan. This position requires close collaboration with senior management within Risk and across the Bank to ensure that our Modelling, Stress Testing and Market Risk strategies align with BACB’s overall risk appetite and regulatory requirements.
Key Work Outputs and Accountabilities
Stress Testing
- Leads the enhancement, annual refresh and implementation of Bank’s Stress Testing Framework and associated governance.
- Supports in designing the annual stress testing plan, including alignment to regulatory requirements and industry practice.
- Designs and executes assigned stress testing exercises working closely with SMEs in businesses and functions (Risk, Finance, etc.). Carries out periodic stress testing of market and liquidity risk profiles.
- Ensures appropriate data integrity controls over data used in stress testing and scenario analysis processes.
- Provision of financial stress test information, associated analysis and advice to support the CRO and other senior management in making decisions in respect of stress test results.
Modelling and Analytics
- Leads the enhancement, annual refresh and implementation of Model Risk Management Framework and associated governance.
- Owns the Bank’s model risk inventory, risk assessment, reporting and oversight of implementation of control standards.
- Responsible for Risk owned IFRS9 models, assumptions, processes and policies and their annual validation.
- Primary contact within Risk to address queries from various stakeholders, internally as well as externally, regarding IFRS 9 ECL.
- Prepares and delivers MI across the spectrum of responsibility on daily, weekly, monthly or ad hoc basis.
Market Risk
- Contributes to the development, enhancement and implementation of market risk policies and frameworks that are responsive to the Bank’s risk appetite, including establishing and monitoring appropriate scope and scale limits for interest rates, foreign exchange and Treasury investments (primarily banking book).
- Assesses and reports on the Bank’s market risk profile and its compliance with limits and a commentary on key developments and trends.
- Supports the Director in the annual refresh of the Internal Capital Adequacy Assessment Process (“ICAAP”), Internal Liquidity Adequacy Assessment Process (“ILAAP”) and Recovery Plan.
Required Qualifications and Experience
- Relevant experience gained in the Banking industry, ideally in a leading institution.
- Strong analytical and quantitative skills, with proficiency in financial modelling and risk assessment tools.
- Excellent communication and presentation skills, with ability to convey complex information clearly and concisely.
- Ability to work independently and as part of a team, with strong organizational and project management skills.
- Proficiency in Microsoft Office Suite and risk management software.
Clear Understanding and Knowledge of:
- IFRS 9 ECL processes and models (prior delivery of IFRS 9 ECL processes an advantage).
- Knowledge of stress testing in a regulated environment.
- Money Market, Fixed Income, Foreign Exchange, and Treasury products, including the relevant settlement processes.
- UK focused capital and liquidity regulations.
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Market Risk Associate Director employer: British Arab Commercial Bank plc
Contact Detail:
British Arab Commercial Bank plc Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Market Risk Associate Director
✨Tip Number 1
Familiarize yourself with the specific stress testing frameworks and model risk management practices used in the banking industry. Understanding these concepts will help you engage in meaningful discussions during interviews and demonstrate your expertise.
✨Tip Number 2
Network with professionals in the banking sector, especially those involved in market risk and modelling. Attend industry events or webinars to connect with potential colleagues and learn about the latest trends and challenges in the field.
✨Tip Number 3
Stay updated on UK capital and liquidity regulations, as well as IFRS 9 ECL processes. This knowledge will not only enhance your understanding of the role but also show your commitment to staying informed about regulatory changes.
✨Tip Number 4
Prepare to discuss your experience with financial modelling and risk assessment tools in detail. Be ready to provide examples of how you've applied these skills in previous roles, as this will be crucial for demonstrating your fit for the Associate Director position.
We think you need these skills to ace Market Risk Associate Director
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities and requirements of the Market Risk Associate Director position. Familiarize yourself with BACB's focus on trade finance and investment expertise, especially in Africa and the Middle East.
Tailor Your CV: Customize your CV to highlight relevant experience in banking, particularly in market risk management, stress testing, and financial modeling. Emphasize your analytical skills and any previous roles that align with the job description.
Craft a Compelling Cover Letter: Write a cover letter that clearly articulates your interest in the role and how your background makes you a suitable candidate. Mention specific experiences that demonstrate your ability to lead stress testing frameworks and manage model risk.
Highlight Relevant Skills: In your application, emphasize your proficiency in IFRS 9 ECL processes, knowledge of stress testing, and familiarity with UK capital and liquidity regulations. Make sure to showcase your communication and project management skills as well.
How to prepare for a job interview at British Arab Commercial Bank plc
✨Showcase Your Analytical Skills
As a Market Risk Associate Director, strong analytical and quantitative skills are crucial. Be prepared to discuss specific examples of how you've used financial modeling and risk assessment tools in your previous roles. Highlight any relevant projects that demonstrate your ability to analyze complex data and make informed decisions.
✨Understand Regulatory Requirements
Familiarize yourself with the UK capital and liquidity regulations, as well as IFRS 9 ECL processes. During the interview, be ready to discuss how you have navigated regulatory environments in the past and how you would ensure compliance within BACB's framework.
✨Communicate Clearly
Excellent communication skills are essential for this role. Practice explaining complex concepts in a clear and concise manner. You may be asked to present your thoughts on market risk policies or stress testing frameworks, so being articulate will set you apart.
✨Demonstrate Team Collaboration
This position requires close collaboration with senior management and various stakeholders. Share examples of how you've successfully worked in teams, particularly in cross-functional settings. Emphasize your ability to build relationships and work independently while contributing to team goals.
