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For Companies At a Glance
- Tasks: Lead stress testing and model risk management for a UK bank focused on Africa and the Middle East.
- Company: BACB is a UK bank specializing in trade finance and investment expertise for over 50 years.
- Benefits: Enjoy hybrid working with 3 days onsite and 2 from home, plus a permanent contract.
- Why this job: Join a dynamic team shaping market risk strategies in a collaborative environment with senior management.
- Qualifications: Experience in banking, strong analytical skills, and proficiency in financial modeling required.
- Other info: Opportunity to work on regulatory compliance and contribute to the bank's strategic risk initiatives.
The predicted salary is between 43200 - 72000 ÂŁ per year.
About Us
BACB is aUKbank 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 decision 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 This role profile acts as a guide to the role only and additional work outcomes may be required to be performed by the incumbent 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) o Knowledge of stress testing in a regulated environment.
- Money Market, Fixed Income, Foreign Exchange, and Treasury products, including the relevant settlement processes.
- UK focussed capital and liquidity regulations
Market Risk Manager employer: BACB plc
Contact Detail:
BACB plc Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Market Risk Manager
✨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 demonstrate your expertise during interviews.
✨Tip Number 2
Network with professionals in the banking sector, especially those who work in market risk and modelling. Engaging with industry experts can provide valuable insights and potentially lead to referrals.
✨Tip Number 3
Stay updated on the latest regulatory requirements related to market risk and IFRS 9 ECL processes. Being knowledgeable about current regulations will show your commitment to compliance and risk management.
✨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 to enhance your candidacy.
We think you need these skills to ace Market Risk Manager
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities and requirements of the Market Risk Manager position. Tailor your application to highlight relevant experience in stress testing, model risk management, and market risk policies.
Highlight Relevant Experience: In your CV and cover letter, emphasize your experience in the banking industry, particularly in roles that involved analytical and quantitative skills. Mention any specific projects related to IFRS 9 ECL processes or stress testing that you have worked on.
Showcase Communication Skills: Since excellent communication is crucial for this role, provide examples in your application that demonstrate your ability to convey complex information clearly. This could include presentations you've delivered or reports you've prepared.
Tailor Your Cover Letter: Craft a personalized cover letter that addresses how your skills and experiences align with BACB's needs. Mention your understanding of their focus on trade finance and investment expertise, especially in Africa and the Middle East.
How to prepare for a job interview at BACB plc
✨Showcase Your Analytical Skills
As a Market Risk Manager, strong analytical and quantitative skills are crucial. Be prepared to discuss specific examples of how you've used these skills in previous roles, particularly in financial modeling and risk assessment.
✨Understand Regulatory Requirements
Familiarize yourself with UK capital and liquidity regulations, as well as IFRS 9 ECL processes. Demonstrating your knowledge of these areas will show that you are well-prepared for the role and understand the regulatory landscape.
✨Communicate Clearly
Excellent communication skills are essential for this position. Practice explaining complex concepts in a clear and concise manner, as you may need to present findings to senior management or collaborate with various stakeholders.
✨Prepare for Stress Testing Discussions
Since the role involves leading stress testing exercises, be ready to discuss your experience with stress testing frameworks and how you have contributed to their implementation in past roles. Highlight any relevant projects or outcomes.
