At a Glance
- Tasks: Lead financial risk analytics and stress testing, ensuring robust oversight and compliance.
- Company: Join a leading bank with a strong focus on risk management and innovation.
- Benefits: Competitive salary, career development opportunities, and a dynamic work environment.
- Other info: Collaborative culture with opportunities to engage with regulators and industry experts.
- Why this job: Make a real impact in financial risk management while enhancing your analytical skills.
- Qualifications: Degree in a quantitative field and experience in financial risk management.
The predicted salary is between 54000 - 66000 £ per year.
The Risk Management department is responsible for overseeing the credit risk and counterparty credit risk exposures of the Bank by providing active independent second line of defence (2LoD) review and challenge. It also oversees and provides 2LoD oversight over the Bank’s Financial Regulatory Reporting.
As an Assistant Vice President - Financial Risk Analytics & Stress Testing (2LoD), you will be providing independent 2LoD oversight of Financial Risks by reviewing existing and further developing new financial risk analytics including liquidity, IRRBB, FX, capital and traded market risk models. You will also strengthen the Bank’s second line involvement and independent review of an ongoing ALM system implementation. This is a full-time permanent role.
Key responsibilities:
- Act as the 2LoD Subject Matter Expert (SME) for financial risk analytics, capital adequacy and ALM system implementation, supporting the enhancement of quantitative modelling capabilities across IRRBB, liquidity and capital risk.
- Ensure the financial risk management framework, liquidity policies and capital policies align with the Enterprise Risk Management Framework, regulatory requirements and industry best practice.
- Ensure clear roles, responsibilities and segregation of duties across first line of defence (1LoD) Report Owners, Technical SMEs and 2LoD, promoting accountability and effective independent oversight.
- Provide risk-based independent 2LoD review and challenge of key liquidity and capital regulatory reports, including underlying assumptions, methodologies, judgements, manual adjustments, regulatory interpretations and reporting outcomes.
- Produce and oversee ongoing and ad hoc stress testing, scenario analysis and sensitivity analysis, ensuring outputs inform risk appetite, capital planning and liquidity management.
- Guide and challenge 1LoD controls testing and implement an independent 2LoD controls testing programme to assess the effectiveness of processes and controls across IRRBB, liquidity and capital risk, including assigned operational risk oversight responsibilities.
- Review and challenge remediation plans and oversee the effective resolution of regulatory feedback, audit findings, control deficiencies and other identified issues.
- Support effective risk oversight committees through robust analysis, reporting and independent challenge, working closely with Finance, Treasury, Compliance, Internal Audit and other relevant stakeholders.
- Drive improvements across the Regulatory Reporting, Liquidity and Capital Risk Framework, strengthening governance, controls, documentation standards, reporting processes and implementation of regulatory requirements.
- Provide guidance, training and support to 1LoD on appropriate processes and controls, develop team capability, reinforce 2LoD expectations and promote a robust risk culture and accountability across both lines of defence.
Requirements:
- Degree educated in quantitative discipline such as Mathematics, IT, Physics, Economics, Statistics, Engineering or other relevant subject.
- Relevant professional qualification in Risk Management, ALM, Treasury or a related discipline is desirable.
- Experience in liquidity, IRRBB and capital risk management within a regulated financial institution, ideally banking.
- Hands-on experience in operating in a 2LoD or independent oversight role as well as in the implementation of quantitative models and treasury systems.
- Demonstrated experience in IRRBB, market and liquidity risk modelling, and ALM system implementation.
- Proven track record of engaging effectively with regulators (PRA, FCA) including participating in reviews, thematic audits and/or remediation programmes.
- Programming skills in Python and/or R.
- Excellent stakeholder management and influencing skills.
- Analytical judgement and the ability to assess complex risk issues and regulatory requirements.
Assistant Vice President - Financial Risk Analytics & Stress Testing (2Lod) employer: Bank of China
At Bank of China, we pride ourselves on being an exceptional employer, offering a dynamic work environment in the heart of London. Our culture fosters collaboration and innovation, providing employees with ample opportunities for professional growth and development within the global markets sector. With a commitment to excellence and a focus on employee well-being, we ensure that our team members thrive while contributing to the success of our precious metals and commodities trading operations.
StudySmarter Expert Advice🤫
We think this is how you could land Assistant Vice President - Financial Risk Analytics & Stress Testing (2Lod)
✨Tap into Campus Networks
If you're still in uni, don’t forget to engage with your campus's career services and attend finance-related events. Banks often do presentations and recruitment drives on campus, so put yourself out there and make use of these opportunities to show off your passion for the field.
✨Get Certified
Consider pursuing relevant certifications like the CFA or ACCA while you’re job hunting. They not only beef up your CV but also connect you with professional bodies which can lead to networking opportunities and even job openings in banking and financial services.
✨Connect on Professional Platforms
Join finance-focused groups on platforms like LinkedIn and engage in discussions. This can really help you stand out from the crowd, allowing potential employers to see your knowledge and interest in industry trends. Plus, you might stumble upon job postings shared exclusively within the group.
✨Apply Directly and Be Proactive
Don’t shy away from reaching out directly to firms like Bank of China. Use their websites and apply through them, but also consider following up with a polite email to express your enthusiasm. Being proactive can make a huge difference in getting noticed in the competitive financial services sector.
We think you need these skills to ace Assistant Vice President - Financial Risk Analytics & Stress Testing (2Lod)
Some tips for your application 🫡
Show Off Your Numbers!:In the banking and financial services world, quantifiable achievements are key. Make sure your CV highlights your grades in relevant subjects, any financial certifications you hold, and specific projects where you've delivered measurable results. Employers love to see how your skills translate into real-world success.
Tailor Your Cover Letter to the Role:When applying for a full-time position, your cover letter should make a direct connection between your experience and the job description. Don't just state your enthusiasm for finance—dive into how your background in banking or financial analysis sets you apart. Let your passion shine through while being specific about what you can bring to Bank of China.
Include Relevant Financial Software Experience:If you've worked with financial modelling tools or software like Excel, SAP, or specific analytical tools during your studies or internships, bring that up! Highlighting your proficiency can really make your application pop and show you're ready to hit the ground running in a full-time role.
Research and Reflect:Before hitting that 'apply' button on Bank of China's website, do a little digging. Look up their recent projects, values, and culture. Reflecting their ethos in your application can make a huge difference and show you’re genuinely interested in being part of the team!
How to prepare for a job interview at Bank of China
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with Bank of China.
✨Prepare for Case Studies
Expect to tackle case studies that demonstrate your problem-solving skills in real-world banking scenarios. Familiarise yourself with the types of problems you might face—think risk assessments or investment evaluations—and be ready to articulate your thought process clearly.
✨Show Your Passion for Finance
Since this is a full-time position, employers at Bank of China will be keen to see your genuine interest in finance. Be prepared to discuss recent industry trends or news articles that excite you, showcasing your enthusiasm and engagement with the field.
✨Network with Industry Professionals
Before your interview, reach out to current or former Bank of China employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
